Marketing Information System
Image credits © Prof. Mudit Katyani.
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.
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.