Marketing Information Systems support marketing management in strategic, control and operational decision-making. A Marketing Information System has four main components: Internal Reporting System, Marketing Research Systems, Intelligence Systems and Marketing Models. An organization should have an Internal Reporting System that allows it to gather information on its daily operations in order to find out customers’ patterns to pinpoint their wants, preferences and behavior. Marketing Intelligence implies regularly collecting information so as to get to know what is going on in the economic and business environment. It can be used within the scope of ethics and legality to know consumers’ thinking and perception about the company and its products or services. Marketing Models help in interpreting information to support decision making but caution is needed so as to avoid overestimation or underestimation in forecasting that can lead to bad decisions. Mathematical figures should not overshadow human behavior especially the dynamics of consumer behavior. If a company cannot answer a marketing question using its Internal Reporting System, Marketing Intelligence and Marketing Models, the last resort is Marketing Research. Unlike Marketing Intelligence which is less specific in its purposes and conducted by a manager, Marketing Research is more specific in its purposes and is conducted by marketing researchers. It can be used to hear customers’ voice in regards with their wants, preferences and behavior so as allow marketing manager make adequate decisions.
Table of Contents
- Introduction
- The components of a modern Marketing Information System
- Internal Report Systems
- Order-to Payment Cycle
- Sales Information System
- Marketing Research Systems
- Marketing Intelligence Systems
Objectives and Key Themes
This essay aims to explain the components of a modern Marketing Information System (MIS) and how it provides valuable data on buyer wants, preferences, and behavior. It focuses on the MIS's role in supporting effective marketing planning, implementation, and control.
- Components of a Modern Marketing Information System
- The Role of Internal Reporting in Marketing Decision-Making
- Utilizing Marketing Research for Strategic Advantage
- Gathering Marketing Intelligence for Environmental Awareness
- Effective Use of Data for Understanding Customer Behavior
Chapter Summaries
Introduction: This introductory section defines a Marketing Information System (MIS) as a structured process for gathering, analyzing, and distributing information to support marketing decisions. It emphasizes the MIS's role in improving marketing planning, implementation, and control, referencing Kotler's definition of a continuously interacting structure of people, equipment, and procedures. The introduction sets the stage for exploring the components of a modern MIS and their contributions to understanding buyer behavior.
The components of a modern Marketing Information System: This chapter outlines the four main components of a modern MIS: Internal Report Systems, Marketing Research Systems, Marketing Intelligence Systems, and Marketing Models (Analytical Marketing Systems). It introduces a figure illustrating these components and their interactions within the marketing environment, emphasizing the flow of data and information into managerial decision-making. This serves as a foundational overview for subsequent, more detailed discussions of each system.
Internal Report Systems: This section delves into the Internal Report System, highlighting its two primary components: the Order-to-Payment Cycle and the Sales Information System. The Order-to-Payment Cycle focuses on the efficiency of order processing and fulfillment, emphasizing the importance of quick and accurate responses. The Sales Information System centers on providing current and updated sales data, enabling sales management to respond effectively to customer needs. The chapter also explores how clickstream data analysis from company websites provides valuable insights into customer behavior and preferences.
Marketing Research Systems: This chapter defines Marketing Research Systems as a proactive approach to gathering information to solve marketing problems or monitor the marketing environment. It discusses the use of both primary and secondary data in marketing research and details the strategic decision-making supported by this research. The section cautions against costly mistakes in marketing research, highlighting the importance of clear objectives, proper methodology, and actionable results. Illustrative examples, such as the failed Tim Hortons kiosk venture in Ireland, showcase the potential consequences of neglecting marketing research. The significance of testing products and packaging within target segments is stressed to accurately gauge customer preferences.
Marketing Intelligence Systems: This section differentiates Marketing Intelligence Systems from Marketing Research, emphasizing the less-focused, more opportunistic nature of intelligence gathering. It details various methods of collecting marketing intelligence, ranging from unfocused scanning of various media sources to more formal, structured searches for specific information. The chapter highlights the importance of continually monitoring the external business environment to gain a competitive advantage, illustrating potential negative consequences of neglecting this activity.
Keywords
Marketing Information System, MIS, Marketing Research, Marketing Intelligence, Internal Report System, Sales Information System, Customer Behavior, Decision-Making, Data Analysis, Market Research, Strategic Planning, Competitive Advantage, Buyer Preferences.
Frequently Asked Questions: A Comprehensive Guide to Marketing Information Systems
What is the purpose of this document?
This document provides a comprehensive overview of Marketing Information Systems (MIS), including its components, objectives, key themes, chapter summaries, and keywords. It serves as a valuable resource for academic study and analysis of MIS in marketing.
What are the main components of a modern Marketing Information System (MIS)?
A modern MIS comprises four key components: Internal Report Systems, Marketing Research Systems, Marketing Intelligence Systems, and Marketing Models (Analytical Marketing Systems). These components work together to provide a holistic view of market data and inform effective marketing decisions.
What is the role of Internal Report Systems in an MIS?
Internal Report Systems focus on internal data, primarily from the Order-to-Payment Cycle (tracking order efficiency) and the Sales Information System (providing current sales data). This system provides insights into operational efficiency and immediate customer interactions.
How do Marketing Research Systems contribute to an MIS?
Marketing Research Systems involve a proactive approach to gathering information to solve marketing problems or monitor the environment. This utilizes both primary and secondary data to inform strategic decision-making and avoid costly mistakes. The importance of testing products and packaging within target segments is stressed.
What is the difference between Marketing Research and Marketing Intelligence Systems?
While both contribute to an MIS, Marketing Research is a more focused and structured approach to solving specific marketing problems. Marketing Intelligence Systems, conversely, are less focused and more opportunistic, involving continual monitoring of the external business environment to identify potential opportunities and threats.
What are the key objectives and themes explored in this document?
The document aims to explain the components of a modern MIS and how it provides valuable data on buyer wants, preferences, and behavior. Key themes include the role of the MIS in supporting effective marketing planning, implementation, and control; utilizing internal reporting, marketing research, and marketing intelligence for strategic advantage; and the effective use of data for understanding customer behavior.
What specific examples are used to illustrate key concepts?
The failed Tim Hortons kiosk venture in Ireland is used as an example to illustrate the potential negative consequences of neglecting marketing research. Clickstream data analysis from company websites is presented as a valuable tool for understanding customer behavior.
What are the key takeaways regarding the effective use of an MIS?
Effective use of an MIS relies on a structured approach to gathering, analyzing, and distributing information to support marketing decisions. This involves understanding the strengths and limitations of each component (Internal Reports, Marketing Research, and Marketing Intelligence) and using data effectively to improve marketing planning, implementation, and control.
What are the key terms and concepts associated with Marketing Information Systems?
Key terms include Marketing Information System (MIS), Marketing Research, Marketing Intelligence, Internal Report System, Sales Information System, Customer Behavior, Decision-Making, Data Analysis, Market Research, Strategic Planning, Competitive Advantage, and Buyer Preferences.
- Citar trabajo
- Masters of Arts (Marketing) Jules Miller (Autor), 2011, Marketing Information System, Múnich, GRIN Verlag, https://www.grin.com/document/180610
