MARKETING INFORMATION SYSTEM

MARKETING INFORMATION SYSTEM

1. CONCEPT OF MIS

   • It is a system in which marketing data is collected, stored, analyzed and distributed

2. IMPORTANCE AND RELEVANCE OF MIS

   • It is becoming extremely important, as the strength of economies depends on services and to better understand the specific needs of customers. They defined it more broadly as "people, equipment and procedures to collect, classify, analyze, evaluate and distribute the necessary, timely and accurate information

3. DIFFERENCE BETWEEN MS AND MIS

4. STRUCTURE OF THE MIS

   • 1. User Interfaces. The essential element of Makinas are the managers who will use the system and the interface that they need to analyze and use the marketing information in an effective way. The design of the system will depend on the type of decisions that managers must make. 2. Application Software. These are the programs that marketing decision makers use to collect, analyze and manage data in order to develop the information needed for marketing decisions. 3. Marketing of Databases. A marketing database is a system in which marketing data files are organized and stored. 4. System Support. This Component consists of System Administrators who manage and maintain the assets of the system, including the software and hardware network, monitor its activities and ensure compliance with the policies of the organization.

5. KOTTLER MODEL

   • Internal Reporting System: Records Various Data From Different Departments Of A Company, Which Is Considered An Important Source Of Information. Marketing Intelligence System: It is a main source used by managers to obtain daily information from the external environment, therefore, it helps managers to react quickly to changes. Marketin.g Research System: Used To Collect Primary And Secondary Data And Display The Results In Report Forms. Marketing Decision Support System: Compared with the data supply of the previous three systems, it focuses more on the processing of the data

6. ADVANTAGES

   • Organized Data Collection: Mkis can help managers organize loads of data collected from the market, resulting in increased productivity. • A Broad Perspective: With a proper Mkis in place, the organization can be tracked, which can be used to analyze independent processes. This helps establish a broader perspective that helps us to know what steps can be taken to facilitate improvement. • Storage of Important Data: The storage of important data is essential in the execution and therefore proves once again that Mkis is not only important for the information but also for the execution. • Crisis Avoidance: The Best Way To Analyze A Stock (Stock Market) Is To Look At Its Past Performance. Top Websites Like Moneycontrol Thrive With MIS. Similarly, MIS helps you keep track of margins and profits. With an astonishing information system in place, you can analyze the direction of an organization and probably avoid crises before they are set.

7. POSSIBLE RIKS

   • Opportunities may be missed. • There may be a lack of awareness about environmental changes and actions of the competition. • Data collection can be difficult to analyze over multiple periods of time. • Marketing plans and decisions may not be properly reviewed. • Data Collection May Be Disjointed. • Previous Studies May Not Be Stored In An Easy To Use Format. • Delays May Occur If A New Study Is Required. • Actions may be more reactionary than anticipatory.

8. LIMITATIONS

   • In Rapid Supply Of Data At Lower Cost. At the same time, a company cannot find all the required data by itself, but sometimes it can be done with the help of a secondary investigation. However, Researchers Should Evaluate Data Collected From Primary And Secondary Data Sources To Allow For Accuracy, Updates And Fairness.