The document discusses marketing information systems and how they can improve management information systems. It explains that marketing information systems formally gather, store, analyze, and distribute market data to managers, providing accurate information regularly to aid decision making. This improves planning and controlling of company activities. The concepts can be implemented across different businesses by introducing marketing research systems to understand competitors, customers, and market trends. The components can also be combined with operational information systems to track routine business activities across departments more helpfully. However, there are risks such as difficulty evaluating long-term data, data lacking sequence, marketing plans not being properly reviewed, time lags in new studies, and reacting instead of anticipating market changes.
The document discusses marketing information systems and how they can improve management information systems. It explains that marketing information systems formally gather, store, analyze, and distribute market data to managers, providing accurate information regularly to aid decision making. This improves planning and controlling of company activities. The concepts can be implemented across different businesses by introducing marketing research systems to understand competitors, customers, and market trends. The components can also be combined with operational information systems to track routine business activities across departments more helpfully. However, there are risks such as difficulty evaluating long-term data, data lacking sequence, marketing plans not being properly reviewed, time lags in new studies, and reacting instead of anticipating market changes.
The document discusses marketing information systems and how they can improve management information systems. It explains that marketing information systems formally gather, store, analyze, and distribute market data to managers, providing accurate information regularly to aid decision making. This improves planning and controlling of company activities. The concepts can be implemented across different businesses by introducing marketing research systems to understand competitors, customers, and market trends. The components can also be combined with operational information systems to track routine business activities across departments more helpfully. However, there are risks such as difficulty evaluating long-term data, data lacking sequence, marketing plans not being properly reviewed, time lags in new studies, and reacting instead of anticipating market changes.
07 Tactical Information Systems: Accounting, Financial, and Marketing
1. How do the concepts/aspects/components from this particular topic improve upon a
management information system? a. Based from the video clip that I’ve watched, marketing information system provides accurate information regularly so that it becomes easy for managers in the decision- making process. Thus, this particular topic improves management information system in a way of formal and systematic gathering, storing, analyzing, and distributing the market data to the managers. Because of the accurate information from Marketing Information system, the managers may find decision-making a lot easier. More so, this system bears all of the registered information to the whole company/organization to bind it as one. With that, there will be an improvement in terms of the manager’s capability of planning and controlling the company/organization’s activities. 2. Can the discussed concepts/aspects/components be implemented across all possible businesses and/or organizations? How? a. I think that the components discussed in this topic can be implemented across different businesses and/or organizations. This is by proper introduction of the Marketing Information System to various means. People, companies, and organizations must recognize the need for MKIS. For instance, one of the component mentioned in the video clip was the Marketing Research System, wherein the system reads the market external based on competitor's pricing and promotion strategies, customer taste, market trends. This instance, proves that MKIS can be implemented across different businesses. It is about being ahead of the game, as most business managers put it. And to accomplish that, MKIS will be a great help. 3. Can these concepts/aspects/components be combined with other types of management information systems previously discussed? How? a. In my opinion, these concept can also be combined with other types of management information systems. For example, previously we learned about Operational Information System, which is the type of information system that can record, process, and report all routine and repetitive activities of an organization. This Operational Information System happens across many departments. And I think, that combining the marketing information system and the operational information system will be more helpful with businesses’ or companies/organizations’ advancement. 4. Are there possible risks and/or limitations to consider before implementing these concepts/aspects/components? What are they? a. From the video, there are limitations that are mentioned. These are: i. Long-term evaluation of gathered data becomes difficult ii. The collected data often lacks a sequence iii. Marketing plans dependent on MKIS are not reviewed properly iv. New studies result in time lags v. The company might react to the situation in the market instead of anticipating future Reference: Marketing Information System - Components, Advantages, Limitations, Examples (Marketing Video 11) Posted by Marketing91 on YouTube https://youtu.be/0h0lO46ACfA