Explain your assessment as to why the information below is or is not correct and/or complete:

As a marketing major, the level of decision-making that is most intriguing to me is the strategic level so this is what I chose. In the retail business it is just as important to know the products that your competitors are offering as it is any other business. Let's say a manager is getting information from an IT system that since your competitor introduced a product line that is similar to your best-selling product but is slightly cheaper, sales of your product line have decreased by 10%. At the strategic level you must figure out the best way to handle this situation and decide the best course of action. Your competitor has made a move into your market at the IT systems have made you aware that this is a major concern. As a result you run local campaigns that highlight the authenticity and longevity of your brand, as well as implement a loyalty reward programs to reward past customers and bring in new ones without having to worry about having the lowest price.

A manager is going to utilize multiple types of IT systems before making such a decision. The manager could look at the inventory management in order to see if the product is selling at a lower rate, they can also look at the sales figures or sales database of the specific products to see trends. Furthermore, a manager can also utilize a competitive information system that is designed to gather competitive data from both inside and outside the organization. These are two extremely helpful IT systems, these important databases can help managers make a decision on when to be more aggressive in their marketing efforts or where to pull the plug on certain products. Overall, inventory management databases, product sales databases, and competitive information systems are going to help managers make strategic decision on how to handle a competitor making a move in on their market share.