MARKETING INFORMATION

SYSTEM
CHAPTER # 3 --- LECTURE 4
 MARKETING INFORMATION SYSTEM (MKIS)

Philip Kotler defines a Marketing Information System (MIS) as:

• “People, Equipment, and Procedures to:
• Gather → Information |sources: like surveys/customer feedback/sales records etc.
• Sort → arranging the data neatly into categories or groups | makes it easier to work
• Analyze → Look for patterns, trends or insights | making sense
• evaluate, and → asses significance | judging how it impact our decision making
• distribute → It's about getting the right data to the right people at the right time
• needed, timely, and accurate information to marketing decision makers."
• In simple terms, it's a system that helps gather, organize, and share information to make
better marketing decisions.
 MKIS CONSIST OF:

Marketing Information System (MKIS)

Marketing
Environment
Marketing
Developing Information
Managers
Target Markets
↓ Assessing
Analysis Information Marketing
Internal records Marketing
↓ needs Intelligence Channels
Planning
↓ Competitors
Implementation
↓ Marketing public
Control Distributing decision Marketing
information support-System Research Macro-
environmental
Forces
 ASSESSING INFORMATION NEEDS

• It refers to the process of determining what specific information is

required to support marketing decision-making within an organization.
• Assessing information needs is a critical step in this process because it
helps ensure that the right data is collected and analyzed to make
informed marketing decisions.
ASSESSING INFORMATION NEEDS
 INTERNAL RECORDS

• The most basic information used by marketing managers are the internal records.
• Internal records are data and information generated within an organization.
• It includes:
• Sales figures
• Customer profile
• Inventory level
• Receivables
• Payables
• By analyzing these information marketing managers can spot important opportunities and
threats or.
• These records help managers in monitoring and managing various aspect of business.
 MARKET INTELLIGENCE

• Marketing intelligence system is set of procedures and sources used by marketing managers
to obtain:
• Every day information about relevant developments in the environment
• Marketing managers often carry on marketing intelligence by:
• Reading books, newspapers and trade publication
• Talking to customers, suppliers, distributors, other managers and personnel.
• In short, it involves:
• Collecting and analyzing from external sources to gain insight into:
• Market trends
• Competitor activities and
• Consumer behaviors.
• It helps manager make informed decision making
 MARKETING RESEARCH

• Marketing research is a systematic design, collection, analysis and reporting

data and findings relevant to a specific marketing situation facing a company.
• It is a formal studies of specific problems and opportunities.
• This may request:
• A market survey
• A product preference test
• A sales forecast by region or and
• advertising effectiveness.
 MARKETING DECISION SUPPORT SYSTEM (MDSS)

• A marketing decision support system (MDSS) is software or technology based

on coordinated collection (organized to work seamlessly) of:
• Data
• Systems
• Tools and
• Techniques
• with supporting
• software and hardware
• by which an organization gathers and interprets relevant information from
business and environment turn it into a basis for marketing decisions or actions.
 KEY TERMS

• Data:
• Include customer data, market research data, sales data, and other relevant information that is crucial for
making marketing decisions.
• Systems:
• Include databases/data warehouses/ and IS that store, manage, and process the data.
• These systems are used to extract valuable insights and information.
• Tools and Techniques:
• Encompass various methods/models/analytical tools used to analyze the data and derive meaningful insights.
• This can include statistical analysis, data mining, predictive modeling, and other methods to help marketers
understand patterns and trends.
• Supporting Software and Hardware:
• MDSS often relies on specialized software and hardware infrastructure.
• This can include software applications for data analysis and reporting, as well as the necessary computer
hardware to run these applications effectively.
 DISTRIBUTING INFORMATION

• It refers to the process of delivering relevant and timely marketing

information to the individuals or departments within an organization that
need it.
• This information can include data, reports, analysis, and insights related
to various aspects of marketing, such as market research, customer
behavior, sales, advertising, and product performance.