The working of the Marketing Information System

If marketing organization is to make superior value and satisfaction for their customers, marketing managers require information at almost every turn. They require information regarding customers like resellers, end-users (who tend to be called consumers), with, governmental, competitors and other forces in marketplace. A marketing information system (MIS) consists of equipment, people and process to gather, analyze, sort, evaluate and distribute needed, timely and precise information to marketing decision makers.

I.   Assessing information needs:

Marketing organizations have to establish what information is required or likely to be needed. It is a key feature of the MIS that underscores significance of information.

II.   Developing information:

Internal Records provide a wealth of information, which is in essence raw data for decision- making. An effective MIS and summaries and organizes orders, schedules, balance sheets, shipments, and inventories into the trends that may be linked to management decisions on the marketing mix changes.

III.   Marketing Intelligence:

Provides the daily information about environmental variables that a manager requires as the implement and adjust marketing plans. The sources for intelligence can vary according to needs but can include both external and internal sources.

IV.   Marketing Research:

 Marketing research associates customer, consumer and public to the marketer through an exchange of the information.