Marketing Information System

What is a marketing information system (MIS)?
    • Marketing information system (MIS) is a set of procedures and methods for the regular, planned collection, analysis and presentation of information for use in marketing decisions’
    • Consists of people, equipment, and procedures to gather, sort, analyze, evaluate and distribute needed, timely, and accurate information to marketing decision makers.
    • Function: Assess, Develop and Distribute Information.

Marketing Information System
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Functions of a MIS:
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Characteristics of MIS
    ➢ Management oriented
    ➢ Management directed
    ➢ Integrated
    ➢ Common data flows
    ➢ Heavy element
    ➢ Flexibility and ease of use

Benefits of MIS
    • Customer profiles need to be maintained focusing on their habits and spending patterns. MIS helps in maintaining these profiles.
    • Information on what competitors have been upto is also a critical marketing information. This should not be taken as espionage on competitors.
    • Forecasts of demand are also a critical part of marketing analysis. MKIS helps in achieving this as well.
    • Field sales can also be monitored where sales agents are used to market products.
    • Customers can be quickly updated based on their information kept in MKIS.
    • Dealers involved in sale of product can also be monitored to help enhance revenues

Importance of MIS:
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What is Marketing Information?
    • The data collected during the marketing research process
    • Types of data
        o Company and competitor records
        o Customer profile data
              ▪ Buying behavior
              ▪ Shopping patterns
              ▪ Demographics and lifestyle research
              ▪ Government data
              ▪ Market research reports produced and sold by research firms

Why Marketing Information is needed
      Used to identify marketing opportunities, solve marketing problems, implement... [continues]

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