Marketing Information System

A marketing information system is a continuous and interacting structure of people, equipment and procedures to gather, sort analyze, evaluate and distribute pertinent, timely and accurate information for use by marketing decision makers to improve their marketing planning implementation and control.

Marketing information system works as a tool for making the marketing decision. It helps to enhance effective and efficient performance of the marketing firm. It provides relevant and updated marketing information to the decision makers who use them to eliminate or reduce risk while making decision.

The information needs of marketing managers depend on the particular problems that they must solve. As a result, marketing information systems differ widely in their complexity, flexibility, data source, and information yields, so different scholars try to define marketing information system in various ways.

“A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate marketing decision makers”. By Philip Kotler

The above given definition is comprehensive in nature and cover the basic features and requirements of marketing information system.

These definition poses some critical assumptions.

• The MkIS is a carefully developed master plan for information flow.
• There must be coordination among many departments and individuals, including top management, marketing research, personal, finance, system analysts, programmers, and computer exports.
• Advancement in computer technology, data copying, storage, retrieval, etc. have been instrumental in the growth of sophisticated.

The cross essence of marketing information system is listed below:

• Assessment of information need for the organization.
• Development of required information.
• Analysis of developed information.
• Distribution of information as per the requirement.

Relevance

One of the salient features of modern-day market is its increasing expansion and competitiveness. In such scenario, the utility of information is immense for all kind of organization. At present, the relevance of marketing information system is profound.

Relevance of marketing system

1. Facilitation of marketing planning and control.
2. Helps to recognize changing dynamics of environment.
3. Quick supply of information.
4. Quality decision making.
5. Information integration.

Facilitation of marketing planning and control: The recipe of every successful planning and control mechanism is proper information. Marketing organization also need planning and control in many marketing aspects such as product development, pricing, promotion and distribution.

Helps to recognize changing dynamics of environment: Marketing environment is synonymous to change. These changes are related to different aspects of products, price, place, promotion.

Quick supply of information: Information is of no use of a correct and quick decision immense. One wrong decision and you are doomed. Marketing information system through prompt supply of relevant and reliable aids to the quality of decision making.

Information integration: Information is scattered everywhere from departments to branches. Integration of that information is crucial for decision making. Marketing information system makes the integration of information possible.