04) mis
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A Marketing Information System (MIS) is designed to generate, store, and disseminate pertinent marketing information to managers. An MIS focuses on managing the flow of information from marketing research to aid in identifying, selecting, and resolving marketing problems and opportunities. It provides recurrent, monitoring, and requested information to managers in a timely and usable format. A Marketing Decision Support System (MDSS) differs from an MIS in that it allows direct manager interaction with models and data to analyze decision situations rather than just providing factual information. Common MDSS applications include sales forecasting and marketing budget allocation.
04) mis
- 1. Marketing Information System (MIS) • A system designed to generate, store, and disseminate an orderly flow of pertinent information to marketing managers. • Marketing research focuses the act of generating information. • MIS focuses on managing the flow of information to marketing decision makers.
- 2. The Nature/Tasks of MIS • The information provided by am MIS is used to assist in each of the three major tasks of marketing decision making: –the system helps to identify, –select, –and resolve marketing problems, or opportunities.
- 3. Basis of MIS • Periodic surveys on consumer behavior, spending patterns. • Tailored consumer research studies are conducted to develop merchandizing and marketing plans.
- 4. Key Task of an MIS • To provide needed information to the appropriate managers in a usable format in a timely fashion. • The most difficult task is to specify who receives what information when and in what format. • Once initiated, successful MISs continue to evolve and change over time.
- 5. Types of Information: 1. Recurrent Information • is provided on a periodic basis. • For example: market shares by region, customer awareness of the firm’s advertising, prices of the three leading competitors, customer satisfaction with the firm’s product and customer purchase intentions. • Useful for identifying problems and opportunities.
- 6. 2. Monitoring Information • MI is information derived from the regular scanning of certain sources. • Examples: summary of articles, relevant journals, government reports. • Come from external sources. • Useful for alerting firms for potential problems, opportunities.
- 7. 3. Requested Information • Information developed in response to a specific request by a marketing manager. • Example: size of the market not served by the firm and the level of customer satisfaction with the existing brands in the market. • Much of this information would not be available in the system and would have to be generated.
- 8. Specialized MISs • Firms typically develop smaller specialized systems designed to meet the needs of a subset of managers. Or, systems are developed for specific types of information such as data on competitors. • These systems are doable within the resources of most organizations.
- 9. Benefits of SMISs • Restricted to few managers who are aware of the need for the data and who will therefore “champion” the system. • Example of a specialized MIS focused on competitor activities.
- 10. Marketing Decision Support Systems (MDSS) • The term DSS is often used synonymously with MIS. • These are two different concepts. • MISs are centralized suppliers of information. • It is generally supplied to them by staff personnel on a periodic, as it is available, or requested basis.
- 11. MDSS • DSSs are decentralized and allow the managers to interact directly with the data base. • The systems are generally computerized and have one or more models (formulas) built in. • These models are developed to assist with specific decisions faced by marketing personnel.
- 12. MDSS • DSSs generally provide the results of analyses of decision situations rather than the more “factual” information generally supplied by an MIS. (See Figure 2.3 at your book). • Most MDSSs are specific in nature. • Most firms have a series of MDSSs, some with shared components and some completely independent.
- 13. Components of an MDSS 1. Models 2. Data 3. Computers 4. An interface system 5. managers
- 14. 1. Models • Models are mathematical statements of the presumed relationship between two or more variables. • Sales revenue = units sold x average price per unit • These models are used for what-if analyses and sensitivity analyses.
- 15. Sensitivity analysis is determining at what level or value, if any, each of the unknown variables has a meaningful impact on the decision to be made.
- 16. 2. Data • Inevitable need of data. • Arrangement to acquire it. • Computerization of data • Developing models (mathematical)
- 17. 3. Computer System • The data could be analyzed manually, but it is impractical. • MDSSs are developed for mini-computers and personal computers rather than mainframes. • Limited data storage requirement of most MDSSs.
- 18. 4. Interface • Software that allows the manager to interact with the data and the model. • Successful MDSSs are exceedingly user friendly.
- 19. 5. Managers • Managers are the most important aspect of an MDSS, • Managers must understand how to do what if and other relevant analyses. • They must understand and accept the models involved. • They should be actively involved in developing the models.
- 20. MDSS Applications • There is a wide range of applications of an MDSS. • Two most common applications are: • New Industrial Product Sales Forecast and Launch Strategy MDSS. • Marketing Budget MDSS