Marketing information system, Marketing Management

Marketing Information System

To perform their marketing responsibilities, marketing managers need excellent deal of information. "Information is power" is a legal statement. In spite of the importance and rising supply of information, managers frequently lack enough information of the right kind or have too much of  the  incorrect  kind  to  make  the  crucial  decisions  necessary  to  be  successful  in  our  largely competitive global marketplace. Mostly marketing managers don't require more information, they require better information. To overcome these problems, various companies are taking steps to develop their marketing information systems. Commitment to an information system is not only a technological commitment but as well as a corporate culture commitment.

A well-designed marketing information system (MIS) firstly assesses information needs. The MIS next grows needed information (generally from marketing intelligence activities, marketing research, internal company data and information analysis process and sources). At last, the MIS distributes information to managers in the accurate form at the right time to help them take better marketing decisions. Once the system is in place and functioning, decision-making becomes better and easier. With efficient information systems few firms fail in the marketplace.

Posted Date: 11/8/2012 1:06:36 AM | Location : United States







Related Discussions:- Marketing information system, Assignment Help, Ask Question on Marketing information system, Get Answer, Expert's Help, Marketing information system Discussions

Write discussion on Marketing information system
Your posts are moderated
Related Questions
What is Competition Based Pricing In case of products where market is highly competitive and there is negligible difference in quality of competing brands, price is generally f

What are the strategic benefits in e-commerce? Strategic Benefits: This helps to reduce labour cost and delivery time and also the cost incurred within the given areas:

What is the drawback of selling concept? Selling Concept : Drawback: Selling relies onto buyer’s manipulation. All the buyers can’t be manipulated and a buyer can’t be ma

what is proposal solicitation in buying process

Marketing a value proposition: In a marketing endeavour, what the firm offers to the customer is not a mere physical product, it offers a value proposition. The product offer

What are the advantages of exporting in marketing? The advantages of exporting are illustrated in below: • Manufacturing is home based therefore, this is less risky than ove

Explain the elements and factorsof market communication when considering the elements and factors which contribute to marketing communications, it is significant to account for

Function of the channels of distribution or the role of middle man or intermediaries: 1.       Information: Middle men have a role in providing information about the market t

Innovation Any modernizing modification in a process or procedure which is increases the efficiency of that process or procedure.  Information technology has been the catalyst

what are the pricing objectives?