2. Meaning of MIS:
A marketing information system (MIS) is consist of
people, equipment, & procedure to gather, sort, analyze
, evaluate, & distribute the needed, timely & accurately
information to marketing decision makers.
M I S is collects, analysis, & supplies lot of relevant
information to the marketing managers. Which is valua
ble for planning, implementing, & controlling the mark
et activity.
MIS collects all required information trough its sub
system that is called as components of MIS.
3. Components of MIS:
The components are divided into 4 types which are as follow:
1. Internal records.
2. Marketing intelligence.
3. Marketing research.
4. Marketing Decision support system
.
4. 1. Internal records:
These records provides current information about sal
es, cost, inventories, cash flow, where many companie
s follow their computerized records, documents, files
and so on.
It helps to marketing managers to gain faster access t
o reliable information.
5. 2.Market intelligence:
It collects information from external sources. It provides inf
ormation about current marketing environment, changing co
nditions in the market, like customer needs, demand, habits t
est, trends etc.
These information can easily gathered by the external source
s
like: magazine, trade journals, commercial press and so on.
These external sources cannot be used directly . it must be e
valuated and arranged then it can be used for marketing man
agers for decision making, & policy making.
6. 3.Market research:
Marketing Research. (MR)is conducted to solve specific marketi
ng problems of the company. It collects data about the problem.
That will be tabulated, analyzed &conclusions are drawn then th
e solution will be given for the problem
However, this information is specific information. It can be used
only for a particular purpose.
The scope of MIS is very wide. It includes ‘MR’. However, the s
cope of MR is very narrow.
7. 4. Market decision support system:
These are the tools which help the marketing managers
to analyze data and to take better marketing decisions.
They include hardware, i.e. computer and software pro
grams.
Computer helps the marketing manager to analyze the
marketing information. In fact, today marketing manag
ers cannot work without computers.
There are many software programs, which help the mar
keting manager to do market segmentation, price fixing
, advertising, budgeting, etc.
