Now let’s proceed to discuss and understand the meaning of MIS.
Meaning of MIS
Marketing Information System, abbreviated as MIS, means to collect, analyze and supply marketing information to the marketing managers. The marketing managers use this information to take marketing decisions. MIS is a permanent and continuous process. Marketing information includes all facts, estimates, opinions, guidelines, policies and other data. This information is necessary for taking marketing decisions. This information is collected from both internal and external sources. It is collected from customers, competitors, company salesmen, government sources, specialized agencies, so on. MIS collects the marketing information from different sources. This information (data) is analysed. Then, it is supplied to the marketing managers. The marketing managers use this information for taking marketing decisions. MIS also evaluates and stores the information. MIS uses modern technology for collecting, analyzing, storing and supplying information. Read more articles on Marketing Information System (MIS):
1.Features of Marketing Information System MIS.
2.Components of Marketing Information System MIS.
3.Essential requisites of a good MIS.
4.Distinguish Between MIS and Marketing Research (MR).
MIS gives many benefits to the company. The need for MIS is universally accepted. A company cannot survive and succeed without MIS. Therefore, all companies must have MIS. However, the same MIS cannot be used for all types of companies. Every company must make its own MIS. It must not copy the MIS of other companies.
Distinguish Between MIS and Marketing Research (MR)
Following image depicts the ten main points which are used to make a comparison or distinction between MIS and Marketing Research (MR).
Image credits © Prof. Mudit Katyani.
Difference between MIS vs MR is based on the following ten points: 1.Meaning of MIS and MR.
2.Their basic or main purpose.
3.Wide or narrow scope.
4.General or specific nature.
5.Number of reports provided.
6.Future or past orientation.
7.Frequency of data collection.
8.Number of problems to solve.
9.Continuous or non-continuous operational method.
10.Based on use of computers or not.
Now let's distinguish MIS and Marketing Research (MR) on above points. 1.Meaning :
a.MIS means to collect, analyze and supply relevant marketing information to the marketing managers. The marketing managers use this information for taking effective marketing decisions. It is a permanent and continuous process. b.Marketing Research (MR) is a systematic process of collecting and analyzing information to solve a specific marketing problem. 2.Purpose :
a.The main purpose of MIS is to provide relevant information to marketing managers and enable them to make effective marketing decisions. b.However, the main purpose of Marketing Research (MR) is to solve a specific marketing problem. 3.Scope :
a.The scope of MIS is wide. Marketing Research (MR) is one of its component. It is not only used to solve problems but also helps to prevent problems in the future. b.The scope of Marketing Research (MR) is narrow. It is one small part of MIS. It solves a specific present marketing problem. 4.Nature :
a.MIS is more nonspecific or general in nature. It can solve many types of marketing problems. b.Marketing Research (MR) is more specific or particular in nature. At one time, it can only solve a single type of marketing problem. 5.Reports :
a.MIS gives four types of reports namely, plan-reports, periodic-reports, triggered-reports and demand reports. b.Marketing Research (MR) provides only one report called as ‘MR Report.’ 6.Orientation :
a.Orientation of MIS is more future-oriented when compared to MR. b.However, the orientation of Marketing Research (MR) is more past and present one when compared to MIS. It concentrates more on earlier and latest...