Marketing Information
System
Presented by: Submitted to:
Sindu P Hegde Ms. Ashwini H
233529 Assistant Professor
2nd MSc Department of
Psychology Psychology
SDM PG Center, SDM PG Center, Ujire
Ujire
Introduction
Every firm must organize and distribute a continuous flow of
information to its marketing managers. A marketing information
system (MIS) consists of people, equipment, and procedures to
gather, sort, analyze, evaluate, and distribute needed, timely, and
accurate information to marketing decision makers. It relies on
internal company records, marketing intelligence activities, and
marketing research.
1. Internal Records
To spot important opportunities and potential problems, marketing managers
rely on internal reports of orders, sales, prices, costs, inventory levels,
receivables, and payables.
• The Order-TO-Payment Cycle
The heart of the internal records system is the order-to-payment cycle. Sales
representatives, dealers, and customers send orders to the firm. The sales
department prepares invoices, transmits copies to various departments, and
back-orders out-of-stock items. Shipped items generate shipping and billing
documents that go to various departments.
• Sales Information System
Marketing managers need timely and accurate reports on current sales. Walmart
operates a sales and inventory data warehouse that captures data on every item
for every customer, every store, every day and refreshes it every hour.
• Data basis, Data Warehousing, and Data mining
The explosion of data brought by the maturation of the Internet and mobile
technology gives companies unprecedented opportunities to engage their
customers. It also threatens to overwhelm decision makers.
2. Marketing Intelligence
A marketing intelligence system is a set of procedures and sources that
managers use to obtain everyday information about developments in the
marketing environment. The internal records system supplies results data,
but the marketing intelligence system supplies happenings data. Marketing
managers collect marketing intelligence by reading books, newspapers, and
trade publications; talking to customers, suppliers, distributors, and other
company managers; and monitoring online social media.
A company can take eight possible actions to improve the quantity and
quality of its marketing intelligence.
• Train and motivate the sales force to spot and report new developments.
• Motivate distributors, retailers, and other intermediaries to pass along
important intelligence.
• Hire external experts to collect intelligence.
• Network internally and externally.
• Set up a customer advisory panel.
• Take advantage of government-related data resources.
• Purchase information from outside research firms and vendors.
• Collecting marketing Intelligence On The Internet
1. Independent customer goods and service review forums.
2. Distributor or sales agent feedback sites.
3. Combo sites offering customer reviews and expert opinions.
4. Customer complaint sites.
5. Public blogs.
3. Marketing research
A marketing research system is an integral part of a Marketing
Information System. It involves gathering data from external sources for
decision-making. This includes primary and secondary
research surveys, focus groups, and interviews.
Access to such information can help you gain insights into the
current marketing environment, customer needs and preferences,
competitive analysis, and much more. Marketing research is a powerful
tool that can give you the edge you need to succeed in your industry.
4. Marketing Data Supports System
A marketing data support system includes software systems that
organizations use to streamline marketing information systems. The
software can be a standalone system or a combination of multiple
software.
This software includes various statistical tools to help businesses
carry out data analysis.
Example
Example is [Link], which stores the visitors’ visit patterns and
choices of hotels. Based on this history, they can offer the best
choices to consumers.
Need for Marketing Information In India
• India has varied agro-climatic conditions which enables it to produce
all kinds of agricultural crops in various parts of the country at
different period of times in an year. the forward linkage is India is
very poor and the farmers sell the produce in nearby/local markets
or in the village itself.
• Recent advances in information technology will help small farmers,
large farmers or traders with the marketing information they need to
make right decision.
Central Scheme for Marketing Information in India
In India, the Directorate of Marketing and Inspection (DMI) headed by the
Agricultural Marketing Advisor, Department of Agriculture & Co-operation
(DAC) implements agricultural marketing policies and programmes of the
Government of India.
• Standardisation, grading and quality control of agricultural and allied
produce
• Market research and surveys
• Provides technical support in regulation, planning and designing of
physical markets.
• Training of personnel in agricultural marketing in the country
• Promotion of cold storages
• Administration of Meat Food Products Order
• Marketing extension, consumer education etc.
• Market Information network.
Steps Involved in Designing MIS
• Identifying the broad information requirement of the organization.
• Classifying the information requirement and identifying whether it is for
planning purposes or control purpose.
• Evaluating the cost of collecting and processing the information.
• Comparing the cost verses benefits.
• Decoding the frequency and timing of collection of information.
• Identifying the sources of information.
• Designing the mechanism/procedure for gathering, processing, storing and
retrieval of information.
• Analyzing and interpreting the information and disseminating it to the right
persons at the right time and in the right manner.
• Monitoring, maintaining, reviewing and improving the system.
Examples
• Customer Relationship Management (CRM) Software: CRM systems
like Salesforce, HubSpot, or Zoho help businesses manage customer
information, interactions, and communications. They track customer
preferences, purchase history, and feedback, providing valuable data for
targeted marketing campaigns.
• Social Media Analytics Tools: Platforms such as Hootsuite, Buffer, or
Sprout Social offer analytics features that track social media performance.
Businesses can measure engagement, audience demographics, and the
effectiveness of their social media marketing efforts.
Advantages
• Markets expanded from local to national and international marketing.
• Change from buyers needs to buyer wants.
• Storage of data
• Avoidance of crisis
• Coordination
• Control
Limitations
• Evaluation of collected data can get difficult over a long period of time
• The collected data may lack a sequence or connection
• As technology advances, previous studies might be stored in tedious
formats that are not easy to use.
• Companied might react to the current situations in the market insted of
anticipating the future.
Thank you
References
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