marketing information system (powerpoint)

Marketing Information

System

Presented by:Antiga, Monique Chelsea De Vera, Angerica

Flores, Elisha Mitri Go, Willesa Liporada, RacquelRuiz, Sarah Lourene Silvano, Chris Lois

• A marketing information system (MkIS) is:

• Designed specifically for managing the marketing aspects business

• Intended to bring together disparate items of data into a coherent body of information

MarketingInformation System

• A marketing information system (MkIS) is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information for use by marketing decision makers to improve their marketing planning, implementation, and control.

MarketingInformation System

• Assess the information needs• Develop needed information• Analyze information • Distribute information

Marketing Information System

• Continuous System• Permanent and continuous system of

collecting information

• Basic Objective• To provide the right information at the

right time to the right people to help them take right decisions

Features of Marketing Information System

• Computer-Based System• Uses computer, so is up-to-date and

accurate

• Future-Oriented• Provides information for solving future

problems


• Used by all levels• Used by all three levels of management

• Sources• Collects information from both internal

and external sources


• Collects Marketing Information• Information about consumer competition,

marketing environment, etc.

• Helps in Decision-Making• Supplies up-to-date and accurate

information that helps take quick and right decisions


ROLE OF MARKETING INFORMATION SYSTEM IN

DECISION-MAKING

• to improve the efficiency of a company’s operations

• to collect information about the, needs of the consumers

• to provide pertinent decision-making information to marketing managers

on regular basis

• helps recognize trends and changes

• analyzes marketing information and gathers it from sources inside and out

an organization

• facilitates marketing planning and control

• provides marketing intelligence for the

organization

COMPONENTS OF MARKETING INFORMATION

SYSTEM (MkIS)

A. Internal Reporting System

The internal reporting systems enable a company to always be aware of how they are performing as a team and what issues may need addressing.

Marketing managers get lots of information from the internal-records of the company. These records provide current information about sales, costs, inventories, cash flows and account receivable and payable. Many companies maintain their computerized internal records.

The internal records that are of immediate value to marketing decisions are: orders received, stockholdings and sales invoices.

Most marketing managers use internal records and reports regularly, especially for making day-to-day planning, implementation and control decisions.

Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities.

B. Marketing Intelligence SystemThe marketing intelligence systems are used to deal with the costs of running a marketing department and a business as a whole. It will process all the facts and figures delivering what needs to be spent where and what may be using too much money.

It collects information from external sources. It provides information about current marketing-environment and changing conditions in the market.

This information can be easily gathered from external sources like magazines, trade journals, commercial press, trade press, census, so on.

This information cannot be collected from the Annual Reports of the Trade Association and Chambers of Commerce, Annual Report of Companies, etc. The salesmen’s report also contains information about market trends. It can also gather information from Sales Force, Dealers and Distributors, and suppliers.

The information which is collected from the external sources cannot be used directly. It must be first evaluated and arranged in a proper order. It can be then used by the marketing manager for taking decisions and making policies about marketing.

Marketing Research Systems


• systems allow a company to really find out what their customers/potential customers think of the current trends and their views on certain items, or polices.

• can also delve into a customer's habits in the hope the company can spot a gap in the market or service

• can gather quantitative and qualitative information

• provides information to the marketing managers

• conducted to solve specific marketing problems of the company

• a proactive search for information


Marketing Models

Marketing Models• act as a concept or theory and a lot of

campaigns will be built with this guidance in m

• tools which help the marketing managers to analyze data and to take better marketing decisions

These tools are:• Time series sales models• Brand switching models• Linear programming• Elasticity models (price, incomes, demand, supply, etc.)• Regression and correlation models• Analysis of Variance (ANOVA) models• Sensitivity analysis• Discounted cash flow• Spreadsheet 'what if models

Marketing Models

Three levels of decision making:

1. Strategic decisions are characteristically one-off situations. This level of decision making is concerned with deciding on the objectives, resources and policies of the organisation.

Marketing Models

2. Control decisions deal with broad policy issues. Such decisions are concerned with how efficiently and effectively resources are utilised and how well operational units are performing.

Marketing Models

3. Operational decisions concern the management of the organisation's marketing mix. These involve making decisions about carrying out the "specific tasks set forth by strategic planners and management.

Marketing Models

DISTINGUISH BETWEEN MKIS AND

MARKETING RESEARCH

(MR)


System

Marketing Research

Meaning

to collect, analyze and supply relevant marketing information to the marketing managers

systematic process of collecting and analyzing information to solve a specific marketing problem

Purpose to provide relevant information to marketing managers and enable them to make effective marketing decisions

to solve a specific marketing problem.

Scope Wide Narrow


System

Marketing Research

Reports gives four types of reports namely, plan-reports, periodic-reports, triggered-reports and demand reports

provides only one report called as ‘MR Report’

Orientation Future Oriented Past & Present Oriented

Problems solve many different marketing problems at one time

only deals with a single marketing problem at one time


System

Marketing Research

Data collected more frequently, usually almost daily

not collected frequently

Operation

permanent and continuous system

not a continuous system.

Computers

heavily based on the use of computers

hardly makes use of computers

IMPORTANCE OF MARKETING

INFORMATION SYSTEM includes all the data, in terms of facts, opinions, views, guidelines and policies, which are necessary to make vital marketing decisions

provides relevant, reliable and required information in respect of business environment-both internal and external environments.

ADVANTAGES OF MKIS

MkIS helps managers to recognize marketing trends. The changing trends may be in respect of prices, product design, packaging, promotion schemes, etc.

Market Monitoring

MkIS provides the information necessary to develop marketing strategy. Provides the foundation for the development information system-dependent e-commerce strategies.

Strategy Development

Effective market planning is required in terms of product planning, pricing, promotion and distribution.

Facilitates Marketing Planning and Control

A firm has to take quick decision for this purpose; it requires fast flow of information which is facilitated by a properly designed MkIS.Quick supply of information

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.

Quality of decision-making

MkIS makes it possible to tap business opportunities as it can supply required and reliable data.Tapping of business opportunities

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.Provides Marketing Intelligence

A firm which is well equipped with MkIS will be able to realize the need to change the line of business.Help managers to recognize change

Firms, which are largely decentralized can gather information which is scattered at many centers or departments and integrate it for effective decision making.

Integration of Information and Functional Integration

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.

Strategy Implementation

MkIS brings together many different kinds of data, people, equipment, and procedures to help an organization make better decisions.Builds relationships within the organization

MkIS can organize data collection and store these important data for over several time periods.

Convenient Storage

ESSENTIAL REQUISITES OF A GOOD MKIS

Unified and centralized: MkIS must be unified and centralized.

Facilitate decision making: MkIS must facilitate decision making.

Quick and accurate information: MkIS must provide quick and accurate

information. Economical:

MkIS must be economical.

Selective: MkIS must be selective.

Future-oriented: MkIS must be forward looking i.e.

future-oriented. Supply information regularly:

MkIS must supply information regularly.

Use new techniques: MkIS must use new techniques for

collecting, analyzing, storing and supplying information.

Agricultural MkIS in Asia and Pacific Region

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marketing information system (powerpoint)

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