Marketing information System & applications
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Marketing information systems (MkIS) help support marketing functions and decision making. MkIS has three subsystems: accounting, marketing research, and marketing intelligence. MkIS provides essential information for market monitoring, strategy development, marketing planning and control, quick decision making, quality decision making, tapping business opportunities, and marketing intelligence. It also helps managers recognize changes, integrate information across functions, implement strategies, build relationships, and conveniently store data.
Marketing information System & applications
- 1. APPLICATIONS OF MARKETING MIS ANUJITH KR ROLL NO 8 S3 MBA CET SOM
- 2. ∗ 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
- 3. 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
- 4. Market Monitoring MkIS helps managers to recognize marketing trends.The changing trends may be in respect of prices, product,design,packaging, promotion schemes, etc.
- 5. Strategy Development MkIS provides the information necessary to develop marketing strategy. Provides the foundation for the development information system- dependent e-commerce strategies.
- 6. Facilitates Marketing Planning and Control Effective market planning is required in terms of product planning, pricing, promotion and distribution.
- 7. 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.
- 8. 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.
- 9. Tapping of business opportunities MkIS makes it possible to tap business opportunities as it can supply required and reliable data.
- 10. 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.
- 11. 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.
- 12. 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.
- 13. 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.
- 14. Builds relationships within the organization MkIS brings together many different kinds of data, people, equipment, and procedures to help an organization make better decisions.
- 15. Convenient Storage MkIS can organize data collection and store these important data for over several time periods.