marketing information system & applications
TRANSCRIPT
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APPLICATIONS OF MARKETING MIS
ANUJITH KRROLL NO 8
S3 MBA CET SOM
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∗ Marketing was the first functional area to exhibit an interest in MIS
∗ The marketing information system has three subsystems; the accounting information system, marketing research, and marketing intelligence
∗ Functional information systems: the conceptual systems should be "mirror images" of the physical systems
Introduction
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A computer-based system that works in conjunction with other functional information systems to support the firm's management in solving problems that relate to marketing the firm's products.
Marketing Information System (MKIS) Definition
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Market Monitoring
MkIS helps managers to recognize marketing trends.The changing trends may be in respect of prices, product,design,packaging, promotion schemes, etc.
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Strategy Development
MkIS provides the information necessary to develop marketing
strategy. Provides the foundation for the development information system-
dependent e-commerce strategies.
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Facilitates Marketing Planning and Control
Effective market planning is required in terms of product planning, pricing, promotion
and distribution.
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Quick supply of information
A firm has to take quick decision for this purpose; it
requires fast flow of information which is facilitated by a properly designed MkIS.
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Quality of decision-making
In every aspect of marketing, there is need to make constant and correct
decisions. A properly designed marketing information system promptly supplies reliable and
relevant information.
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Tapping of business opportunities
MkIS makes it possible to tap business opportunities
as it can supply required and reliable data.
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Provides Marketing Intelligence
Marketing intelligence refers to information of the events that are happening in the external environment, i.e., changes in customer tastes, expectations, competitor’s strategies, gov’t. policies, international environment, etc. with the help of MkIS specialists, it is possible to
collect marketing intelligence which is vital to make effective marketing decisions.
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Help managers to recognize change
A firm which is well equipped with MkIS will be able to realize the need to
change the line of business.
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Integration of Information and Functional Integration
Firms, which are largely decentralized can gather information which is scattered at many centers or
departments and integrate it for effective decision making.
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Strategy Implementation
MkIS provides support for product launches, enables the coordination of
marketing strategies, and is an integral part of sales force automation (SFA), customer relationship management
(CRM), and customer service systems implementations.
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Builds relationships within the organization
MkIS brings together many different kinds of data, people, equipment, and procedures to
help an organization make better decisions.
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Convenient Storage
MkIS can organize data collection and store these
important data for over several time periods.