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2 Marketing Information System 2

The document discusses the components and process of a modern marketing information system (MIS). It defines MIS as a continuously interacting structure that collects, sorts, analyzes and transfers marketing data to decision makers. It then describes the three stages of the MIS process: 1) data collection from internal/external sources, 2) analysis and evaluation of the data, 3) timely transfer of results to inform marketing decisions. The key components of MIS are then outlined as the internal reporting system, marketing intelligence system, marketing research system, and use of marketing models to analyze collected data.

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Syed Muhammad Imran
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107 views3 pages

2 Marketing Information System 2

The document discusses the components and process of a modern marketing information system (MIS). It defines MIS as a continuously interacting structure that collects, sorts, analyzes and transfers marketing data to decision makers. It then describes the three stages of the MIS process: 1) data collection from internal/external sources, 2) analysis and evaluation of the data, 3) timely transfer of results to inform marketing decisions. The key components of MIS are then outlined as the internal reporting system, marketing intelligence system, marketing research system, and use of marketing models to analyze collected data.

Uploaded by

Syed Muhammad Imran
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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SYED MUHAMMAD IMRAN

MODERN MARKETING INFORMATION SYSTEM


MIS (Marketing information system) can be define as a continuously interacting
structure of customers, equipment which we are using and procedures which we
are following to collect the require data. After the collection, sorting of the data is
perform and scrape data is removed. Then we analyze the sorted data and evaluate
it on the bases of analyses. This information (results) is then timely and accurately
transfers to marketing decision makers which will help them to improve their
marketing plans, the way there are going to implement and to controls their overall
strategy.
To give the better understanding to the concept let me draw a diagram of the whole
process though which MIS works

stage 1 Stage 2 Stage 3


DATA

INFORMATION
STRATEGIC
MARKET DECISIONS
INTERNAL
INTELLIGEN
RECORDS
CE
MARKETING
ENVIRONMENT CONTROL
DECISIONS

MARKET MARKETING
RESEARCH MODELS
OPERATIONAL
DECISIONS

MARKETING DECISIONS AND COMMUNICATION

NOTE: CONCEPT OF FIGURE IS TAKEN FROM “http://www.fao.org”

Stage 1
We collect the data from the marketing environment (markets, channels,
competitors, political, legal etc)
Stage 2
After to collection sorting, analyses and evaluation of the data is performed.

Stage 3
The results from stage 2 are timely and accurately transferred to the decision
makers to facilitate them in marketing strategy design, control decisions and
operational decisions.
SYED MUHAMMAD IMRAN

COMPONENTS OF MIS
If we view MIS in broader way then it consist of four main essential parts
 Internal reporting system / Internal record system
 Marketing intelligence system
 Marketing research system
 Marketing models

INTERNAL RECORD SYSTEM


Internal records system is an essential part of “Modern marketing information
system”. To be more effective marketing managers largely reply on internal
records such as prices, orders, inventory levels, receivables etc. because with this
analyses they can be able to identify the problems in the system and as well as
opportunities in the market place. Internal recording system also contain three
components
 Order to payment cycle is the most essential part of internal recording
system. In past the customers send an order to the firm and then sales
department prepare an invoice against it and send it to different
departments. That process was very time consuming and slow. Now
almost all companies are using internet for this purpose to track all the
orders and its delivery to customer at shortest possible time with accuracy
and efficiency.
 Sales information system is also important for marketing managers
because they need to keep check on current sales to make important and
accurate decisions. For example in HKB on Monday and Tuesday the
selling of shampoo, cosmetics are higher than the other products so they
place more shampoo and cosmetic products than other items. This decision
is only taken by the marketing managers thought proper check on sales
information though MIS.
 Databases or data warehousing is not an old concept, it’s new and very
important in terms of marketing. Because now a day’s many companies
setup customer database, salesperson database which help them to send
right product ads and promos to the right customers instead of sending
them a bunk of mails which have no effect.

MARKETING RESEARCH SYSTEM


We can call it a “proactive search of data or information from the marketing
environment”. Marketing research can be carried out mainly for two reasons “to
solve a well defined problem or to explore opportunities”. Marketing research may
SYED MUHAMMAD IMRAN

be in the form of survey, advertising evaluations, or product evaluation etc. In


many cases the companies do marketing research to address their problems and
also in some cases companies conduct marketing research to continuously monitor
the marketing environment. These researches help marketing managers to take
their decisions on the bases of results carried out from the data gathered in
marketing research.

MARKETING INTELLIGENCE SYSTEMS


Marketing intelligence system is a source from which marketing managers obtain
information regarding to the marketing environment and use it for their decision
making purposes. The marketing intelligence sources are newspapers, business
publications, customer views, supplier’s view, business journals, company’s
reports, social media and also internet. And sometimes marketing managers gather
information from the field though observation and conversation.
Now companies are using many modern methods to improve their marketing
intelligence systems such as now companies are training their sale force and
motivating them to spot and report the new developments in the market
environment. They are also motivating their distributors and retailers to give
them useful intelligence needed to get competitive advantage. They are also
building external networking and setting up customer advisory panels to help
them is solving problems and providing them with best useful information.
Companies are also buying information from outside suppliers such as NCAER,
FBS, and ACO etc.

MARKETING MODELS
Within any MIS there has to be a mean to do analyses of the data which we
gathered from “Marketing information system” which give direction to our
decisions. Following are some of the models which are mainly use to analyze the
data
 Linear Programming
 ANOVA
 Regression Models
 Correlation Models
 SPSS
 Elasticity Models
 Brand Switching Models

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