MARKETING INFORMATION SYSTEM:
A marketing information system (MIS) is intended to bring together disparate items of data into a coherent body of information. An MIS is, as will shortly be seen, more than raw data or information suitable for the purposes of decision making. An MIS also provides methods for interpreting the information the MIS provides.
Definition: - By Philip Kotler
A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, needed, timely and evaluate,and distribute accurate information to marketing decision makers to improve their marketing planning, implementation, and control
• Interacts with information users to assess information
• Develops needed information from internal and external sources
• Helps users analyze information for marketing decisions
• Distributes the marketing information
ATTRIBUTES OF MKIS:
MKIS should be a cross between what managers think they need, what they really need, and what is economically feasible.
• Relevance to decision making
• Reliability (genuine sources)
• Strategic value
COMPONENTS OF MKIS:
The marketing information systems and its subsystems
Figure illustrates the major components of an MIS, the environmental factors monitored by the system and the types of marketing decision which the MIS seeks to underpin. The explanation of this model of an MIS begins with a description of each of its four main constituent parts: • Internal Report System
• Marketing Intelligence Systems
• Marketing Decision Support System (DSS)
• Marketing Research System and Models
Internal reporting systems: All enterprises which have been in operation for any period of time nave a wealth of information. However, this information often remains under-utilised because it is compartmentalised, either in the form of an individual entrepreneur or in the functional departments of larger businesses. That is, information is usually categorised according to its nature so that there are, for example, financial, production, manpower, marketing, stockholding and logistical data. Often the entrepreneur, or various personnel working in the functional departments holding these pieces of data, do not see how it could help decision makers in other functional areas. Similarly, decision makers can fail to appreciate how information from other functional areas might help them and therefore do not request it. Marketing research systems: The general topic of marketing research has been the prime ' subject of the textbook and only a little more needs to be added here. Marketing research is a proactive search for information. That is, the enterprise which commissions these studies does so to solve a perceived marketing problem. In many cases, data is collected in a purposeful way to address a well-defined problem (or a problem which can be defined and solved within the course of the study). The other form of marketing research centres not around a specific marketing problem but is an attempt to continuously monitor the marketing environment. These monitoring or tracking exercises are continuous marketing research studies, often involving panels of farmers, consumers or distributors from which the same data is collected at regular intervals. Whilst the ad hoc study and continuous marketing research differs in the orientation, yet they are both proactive. Marketing intelligence systems: Marketing research is focused, market intelligence is not. A marketing intelligence system is a set of procedures and data sources used by marketing managers to sift information from the environment that they can use in their decision...