MARKETING
INFORMATION SYSTEMS
It is a
tool for dealing with data pertaining to marketing management. Hence, its functions
are related to the process of database management.
The
principal functions of MIS/MKIS are:
1.
Collecting and assembling data both internal and external. For the information
from internal sources, various reports or statements are designed (like sales
report, accounts report) which periodically provide information covering the
relevant operational aspects. For the information from external sources, the
major part of information flow is from the secondary sources, including newspapers,
trade journals, magazines, reports of market research agencies. Some
information is also procured from the primary sources like consumers, suppliers, dealers and retailers.
2. Processing
of data: Information collected from various sources is required to be classified,
tabulated and summarized for facilitating study and critical analysis.
3. Analyzing
data: The collected information is evaluated to find out its accuracy
and reliability. Further the information is processed using various statistical
and operations research tools so that conclusions are drawn for decision
making.
4. Storage of
data: The collected and processed data needs to be stored in a manner
that ensures its preservation and its ready availability for reference as and
when required.
5. Dissemination
of information: The information has to reach the decision makers for solving marketing
problems and take management decisions.
**Components
of Marketing Information System:**
a.
Internal records system
b. Market
intelligence system
c.
Marketing research system
d.
Marketing management and science system
**BASIC
REQUIREMENTS WHICH ARE REQUIRED TO BE SATISFIED:**
¤ Unified
and centralized system
¤ Support
system to marketing decision makers
¤ Marketing
with the level of progress of the organization
¤ Cost
effective in maintaining
¤ Selective
in information processing
¤ Providing
information regularly and quickly
**ADVANTAGES
OF MARKETING INFORMATION SYSTEM**
¤ This
framework provides a set of procedures and methods for regular, planned,
purpose oriented and systematic collection of data, its analysis, storage and
retrieval.
¤ It helps
in improving the data capture process, checks reliability, consistency and quality
of data.
¤ The
operation of collecting, processing and transmitting data becomes smooth and
the information flow to the decision-makers takes place in a ready for decision
form.
¤ provides
tailor made information for specific needs.
¤ It
facilitates repetitive use of the same information for different purposes.
¤ It also
helps in sorting out conflicting information which otherwise would lead to
confusion and misdirect the decisions.
¤ In view
of the foregoing, we observe that marketing function requires on a continuous
basis, relevant information about various aspects including the marketing
environment, the competitors , the consumers, various intermediaries and the firm’s market
position.
The need
for MIS is a unified and centralized system, which is selective in information Processing
and provides information regularly and quickly.
It helps in systematizing
the information processing and integrating the information obtained from
various sources, validating its accuracy and consistency. It provides tailor
made information to the decision makers to meet their specific requirements.
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