Marketing Information systems .ppt(1).pptx....

Introduction, meaning of MIS,components,advantages.. of MIS

1. Topic:- Concept and components of MIS

2. Marketing information system Introduction :- A marketing information system, or MIS, is a modern computer-based system that equips managers with the reliable data required by the marketers for making decision. MIS focuses on the management of information systems to facilitate strategic decision making in most efficient manner. Definition:- Jobber defines it as a “ system in which marketing data is formally gathered, stored ,analysed and distributed to manager in accordance with their informational need on a regular basis.”

3. Major Components of MIS The main components of MIS are: Internal Records Marketing Intelligence Marketing Research Marketing Decision support system MIS of any organisation comprises primarily the above mentioned components to meet the requirements of marketers by way of discipliend methods of collecting information.

4. A. Internal Records Internal Records are very usful guide to the marketers to identify opportunities as well as potential problems. These may comprise the following: (a). The order-to-payment –cycle- This serves as the core of record system. An organisation may receive orders from sales representative,customers, and dealers. Use of internet and extranets can be great instruments to achieve efficiency of the order-to-payment -cycle in terms of speed and accuracy. (b). Sales Information system- sales and inventory data warehouse can provide necessary details as to current sales to the marketers for efficient management and decision making. This can be useful to replenish stocks as well as to understand the fluctuations in demand to maintain high profitability. (c). Databases centralised/data warehousing- Important databases can be created in terms of customers, products, and salesperson. This can further be combined for generating meaning ranking (customers and products),identifying important/neglected customer segments,recent trends or the like.

5. B. Marketing Intelligence A marketing intelligence system refers to a set of procedures and sources that provide useful insight to the marketers into trends in the marketing environment. Following are some of the action plans pursued maintaining legal and ethical requirements: Sales person:- well trained and motivated sales forces can be the best source to know about latest developments. Intermediaries:- Distributors and retailers can be great source of information being very close to customers as well as competitors. Specialised agencies:- companies can hire expert agencies to get specific information for designing smart action plans. Customer Feedback/advisory panel:- This refers to the selection of some customer representatives who are important,outspoken, and sophisticated to from a panel.The panel can provide useful insights into various aspects of company‘s offerings. Strong internal and external network:- The marketers can develop strong network by participation in trade, shows traders meetings, programmes, and accessing competitors products and published reports. Statistical reports by government agencies:- various government agencies provide useful statistical reports periodically which can be of immense utility to the marketers.

6. C. Marketing Research There has been some confusion regarding the usage of these two phrases “Marketing Research “and “marketing information system”. A close look at these two makes it amply clear that marketing research can only be a part of Marketing Information system as letter has wide connotations and coverage. Marketing Research is a ‘flash-bulb activity in so much as it provides an intense but short –lived insight into particular areas of Marketing concern whereas the ‘candle’of marketing information system provides less but continuous illumination. Marketing Research offers special indepth information to the marketing executives on request to face and combat typical marketing problems.

7. D. Marketing Decision support system Compared to the supply of the data by the three previous systems, it focuses more on processing the data . This component consists of system managers who manage and maintain the system assets including software and hardware network , monitor its activities and ensure compliance with organisational polices. Along with these components,MIS include marketing decision support system (MDSS),which in turnrely on simple system such as Microsoft Excel, SPSS, and on-line analytical tools that help collect data. Data compiled for analysis is stored and processed from a data warehouse, which is simply a data repository system that helps store and further process data collected internally and externally.

8. Types of Reports Generated by a Marketing Information systems Marketing Information systems process raw data from office processing system,such as computers, and mobile applications, and transaction processing system, such as retail point-of –sale system including e-transactions. The output is generally in the form of reports that present consolidated data, which facilitates analysis and decision making. For Example:- The reports could be summarises of daily sales or detailed sales trends classified by product or business units. Summary :- summary reports present concise view of the aggregate data by accounting periods, geographic regions, business units or product categories. The reports consolidate information in a format that make it easy for managers to review and analyse. Trends :- Trend reports provide valuable insights for future decision making or corrective measures. These allow managers to compare the past performance of business units or product categories. Exception :- An exception reports is based on some data that goes beyond routine or normal ranges. Exception reports aggregate these unsual situations and present them separately. A timely reporting of exception conditions makes it easier for a manager to identify cases that require immediate attention. The manager does not have to go through other reports to identify such exceptional situations. On-Demand:- on-demand reports provide specific information as and when needed. Such reports are specific and request based as per the requirements of the circumstances. These reports can be in a custom format or in one of the regular summary or trend formats.

9. Advantage of MIS quips well for continuous SWOT analysi:- companies are able to identify their strengths and weaknesses on the basis of valuable data by MIS. Concise and customised reports:- MIS change the larger amount of data into consolidated and systematic from to avoid any confusion which may arise when managers overloaded with detailed information. MIS Facilitates Decentralisation:- Decentralisation of authority is possibly when there is a system for monitoring operations at lower level. MIS is successfully used for measuring performance and making necessary change in the organisational plans and procedures. Convenience in coordination: MIS Facilitates integration of diverse activities by keeping each department aware of the actions and requirements of other departments. It connect well all decision centres in the organisation. Enhance the Effectiveness of control functions:- MIS serves as a link between managerial planning and control. It improves the ability of marketers to evaluate and improve performance.

10. Thank you Name :- Arshpreet kaur Class :-BBA 3 rd sem Roll-No :- 6406 Subject :- Principals of Marketing Management