What are the components of a modern marketing information system
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Scanning the market ing environment, forecasting demand, & conducting marketing research CHAPTER -3
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Transcript of What are the components of a modern marketing information system
Scanning the marketing environment, forecasting
demand, & conducting marketing research
CHAPTER -3
WHAT ARE THE COMPONENTS OF A MODERN MARKETING INFORMATION SYSTEM ?
MARKETING INFORMATION SYSTEM
MARKETING INFORMATION SYSTEM(MIS) – It consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
SOME COMPANIES HAVE MIS THAT PROVIDE RICH DETAIL ABOUT--
1.BUYER WANTS2.BUYER PREFERENCES3.BUYER’S BEHAVIOR4.AS WELL AS CONSUMPTION
PATTERNS
EXAMPLE:-
NOKIA
NOKIA faced various challenges while creating LOW-COST phones for illiterate poor in emerging markets.
They came up with an “ICON-BASED” menu that allowed illiterate users to navigate without trouble.Also these phones had to be more durable since they were among the most expensive products in the household.
A MARKETING INFORMATION SYSTEM RELIES ON:
1. INTERNAL RECORDS SYSTEM
2. MARKETING INTELLIGENCE SYSTEM
3. MARKETING RESEARCH SYSTEM
THE COMPANY’S MIS SHOULD BE A MIXTURE OF:
•WHAT MANAGERS THINK THEY NEED
•WHAT MANAGERS REALLY NEED
•WHAT IS ECONOMICALLY FEASIBLE
These slides were created by NANDINI GUPTA, AKGEC Ghaziabad,during a Marketing internshipby Prof. Sameer Mathur, IIM Lucknow
(See www.IIMInternship.com )
