The two elements of collecting and using information are:
1. Marketing information – effective marketing decision-making is impossible without the availability of reliable, up-to-date, appropriate information.
2. Market sensing – the emphasis in the area of marketing information should be on the interpretation.
Marketing decisions are concerned with the application of organizational capability to the creation of customer satisfaction in a constantly changing environment. The system must be capable of delivering information about the organization (strengths and weaknesses), the market (structure, competition etc.), the things that influence it (economic forces, competitor actions etc.) and customers (needs, profiles etc.) both actual and potential.