What is Marketing Information System supporting aggressive and quality Marketing Management?
What is Marketing Information System? The Marketing Information System (MIS) is an integral part of marketing planning function. MIS supplies regular information to the management in right time and in right quantity and form in order for the management to take right decision in right time. MIS supports the marketing management to track the implementation status of marketing plan; to identify the strengths and weaknesses of different marketing strategies; and to formulate corrective measures to improve the overall quality of marketing operations of any business organization.
The marketing information system comprises the following components;
- Internal Record System
- Marketing Intelligence System
- Marketing Research System
- Marketing decision Support System
Internal Record System
This is based various internal reports of any company. The information on orders, sales, prices, costs, inventory levels, receivables, payables, etc included in internal reports. That means the internal record system supplies the results data of any company or organization based on the order to payment cycle, sales information system and data bases, data warehouses and data-mining.
Marketing Intelligence System
The marketing Intelligence System supplies happenings data. The marketing manager collects day to day information about the current marketing situation and development in an organization. The information is collected through different sources and procedures. Marketing manager can gather intelligence from books and journals, newspapers, trade publications; talking to customers, suppliers and distributors; and meeting and discussing with company staff and related public figures.
Marketing Research Systems
Marketing research is a very important component of marketing information system. Marketing research is used by the marketing management to identify and study any specific marketing problems and issues affecting the particular company or organization. The various marketing research tools like market survey, product-preference test, customer satisfaction situation, sales forecast, sales promotion situation, etc. are used to carry out the job. The findings of any market research can contribute significantly to take timely and quality decision by the marketing management.
Marketing Decision Support System
This particular component of marketing information system aims at collecting and installing various support tools (hardware and software) to facilitate processing and analyzing of various marketing data in order to make quality decisions timely and quickly. The supporting tools may include Statistical tools (Multiple regression, Factor analysis, Cluster analysis), Models (Queuing model) and Optimization Routines (Differential calculus, Game theory).
The above discussions indicates that the Marketing Information System (MIS) is a vital part of marketing management of any company or organization. It also amply suggests that an appropriately designed Marketing Information System is able to drive the marketing management to a deserving quality height.
Compiled by Afroza Binte Maleque Bithi, MBA
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