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Marketing information system


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Marketing information system

  1. 1. Marketing Information System Akash Deep Maurya MT14IND002 M. Tech. (Industrial Engineering) 2014-2015 DEPARTMENT OF MECHANICAL ENGINEERING VNIT NAGPUR
  2. 2. Information flows all round the market just as the blood flows in living beings. For the company , these information should be collected and take strategic decisions related to market according to it. MARKETING INFORAMTION SYSTEM 2
  3. 3. Every firm must organize and distribute a continuous flow of information. Marketing decision makers use this data to solve various marketing related problems. MARKETING INFORAMTION SYSTEM 3
  4. 4. Why information is needed? MARKETING INFORAMTION SYSTEM 4
  5. 5. Market information system It is continuing & interacting structure of people, equipment & procedure to gather, sort, analyze ,evaluate & distribute needed, timely & accurate information to marketing decision makers. MARKETING INFORAMTION SYSTEM 5
  6. 6. Marketing information system is a planned system of collecting, processing, storing & propagate data in form of information needed to carry out the management functions. MARKETING INFORAMTION SYSTEM 6 -Philip Kotler Market information system
  7. 7. MARKETING INFORAMTION SYSTEM 7 DATA (external & internal) Market Research Division Market Intelligence Division Market Managers Division Market Strategy & Decisions Top Management MIS Cycle
  8. 8. MARKETING INFORAMTION SYSTEM 8 Features of a good MIS: Continuous system: It is a permanent & continuous system collecting the information up to the desired level of detail. Basic objective: To provide right information at right time to right people to help them to take right decisions.  Computer Based: Computers are used for accurate data storage and proper data management.
  9. 9. MARKETING INFORAMTION SYSTEM 9 Features of a good MIS: Future Orientation: It should provide information that could be used to solve future problems.  Relevance: An effective MIS takes data that originates in the areas of activity that concern the manager at any given time, and organizes it into forms that are meaningful for making decisions.  Used by all levels of management: Top , middle and lower level of management use the information for marketing plans, policies & strategies.
  10. 10. MARKETING INFORAMTION SYSTEM 10 Features of a good MIS: Accuracy: The sources of the data determine whether the information is reliable and accurate. Collects market dynamic information: MIS collects the consumer competition, market environment, competitor policies & strategies, Government policies.  Help in decisions: Up-to-date and accurate information directly helps in decision making.
  11. 11. MARKETING INFORAMTION SYSTEM 11 Features of a good MIS: Usefulness: The MIS has to make useful information easily accessible. Timeliness: The more recent the data, the more these decisions will reflect present reality and correctly anticipate their effects on the company.  Completeness: If some information is not available due to missing data, it highlights the gaps and either displays possible scenarios or presents possible consequences resulting from the missing data.
  12. 12. MARKETING INFORAMTION SYSTEM 12 Problem: The brand positioning of PepsiCo’s flagship with COCACOLA brand needed to be change. Approach: Global consumer research. Interpretation: PepsiCo lost sight of what it stands for and its role in customers’ lives. Solution: New global marketing campaign. Result: A worldwide campaign brought back the roots of Pepsi. PepsiCo’s market problem
  13. 13. MARKETING INFORAMTION SYSTEM 13 Market information system Block Diagram
  15. 15. MARKETING INFORAMTION SYSTEM 15 Internal Records (Data Bases): Extensive internal data base, electronic collections of consumers and market information obtained from data source within the company network. Marketing managers can readily access and work with information in the data base to identify marketing opportunities and problems, plan programs, and evaluate performance. More quick and cheap than other information sources. Problems faced: 1.Older data becomes obsolete. 2.Maintenance & storage could be a problem.
  16. 16. MARKETING INFORAMTION SYSTEM 16 INTERNAL DATA RECORDS • Total sales: daily, weekly, monthly. • Sales by products • Territorial sales: measure the degree of market penetration. • Sales by trade classification : textiles, engineering or chemicals. • Sales volume by market segment : static, declining or expanding. • Sales volume by type of channel of distribution. • Sales volume over time covers actual sales and units sold. • Pricing information. • Communication information: effects of advertising campaigns, sponsorship, direct mail programs or exhibitions. • Sales representatives’ records and reports. • Inquiries received and quotations sent.
  17. 17.  Marketing Intelligence: It is method to get the information about the environment- newspapers, trade publications, internet, observations etc. It is systematic collection & analysis of publically available information about the competitors & trends in marketing environment. MARKETING INFORAMTION SYSTEM 17
  18. 18. MARKETING INFORAMTION SYSTEM 18 EXTERNAL DATA RECORDS 1.Government data (census data, income ,expenditure statistics) 2.Commercial data (e.g. Panel data, Store audits) 3.Social statistics 4.Overseas trade statistics 5.Business monitors(production, services series) 6.Household expenditure 7.Economic surveys 8.International sources
  19. 19. MARKETING INFORAMTION SYSTEM 19  Marketing Research: Systematic design, collection , analysis & reporting of data relevant to a specific marketing situation. Organizations engage in marketing research for two reasons: (1) to identify marketing problems (2) to solve marketing problems
  20. 20. MARKETING INFORAMTION SYSTEM 20 Define the problem & research objectives Develop the research plan for collecting information Implementing the research plan, collecting & analyzing the data Implementing & reporting the findings Steps of Market Research
  21. 21. MARKETING INFORAMTION SYSTEM 21  Marketing Decision Support System(DSS):  Tools to help marketing managers to analyze data & take quick decisions.  Usually a computer or data stores.  to retrieve information useful in making semi structured and unstructured decisions.
  22. 22. MARKETING INFORAMTION SYSTEM 22 Typical DSS includes following models and tools for: o Sensitivity Analysis o What-If Analysis o Goal setting o Exception reporting o Time series sales model o Forecasting Models o Simulation Models o Linear programming o ANOVA(analysis of variance)
  23. 23. MARKETING INFORAMTION SYSTEM 23 Data collection techniques: Contact method: mail telephone interview (feedback) online review Sampling plan: Sampling unit(which people) Sampling size(number of people) Sampling procedure(method of choosing)
  24. 24. MARKETING INFORAMTION SYSTEM 24 Data collection techniques: Research Approach: observation survey experiment Research Instrument: questionnaires tracking mechanical(people meter, check out scanner)
  25. 25. Importance of Market Information System MARKETING INFORAMTION SYSTEM 25 • Anticipation of customers. • Systematic approach. • Economic indication. • Technology development. • Market planning. • Understanding the consumers. • Improving the efficiency. • Recognize trends & changes. • Strengthen buyer/supplier relation.
  26. 26. Nature and Scope of MIS MARKETING INFORAMTION SYSTEM 26
  27. 27. Benefited organizations: MARKETING INFORAMTION SYSTEM 27  PepsiCo  Google  Walmart  Microsoft  Bajaj and many more.
  28. 28. It is becoming increasingly important for marketing management to have up-to-date information to carry out its tasks. Marketing is becoming increasingly proactive & must seek to identify changes and trends in the macro-environment and then translate these into action plans. Thus MIS serves best to its purpose and therefore turns organization profitable. MARKETING INFORAMTION SYSTEM 28 Conclusion
  29. 29. References: MARKETING INFORAMTION SYSTEM 29 1. The Role of Marketing Information System on Decision Making "An Applied study on Royal Jordanian Air Lines (RJA)" International Journal of Business and Social Science Vol. 2 No. 3 [Special Issue - January 2011] 2. MARKETING INFORMATION SYSTEMS: AN EMERGING VIEW (Working paper: ALFRED P. SLOAN SCHOOL OF MANAGEMENT David B. Montgomery & Y Glen L. Urban) 3. of Marketing Management/Chapter 12 Marketing Information Systems And Research.pdf 4.