Marketing management- Marketing Information System (MIS)- MBA

Marketing management- Marketing Information System (MIS)- MBA

1. MARKETING MANAGEMENT 2 nd semester --- 1 nd Mid PPT IMMANI CHANDRA SHEKAR REGD. NO. :19K61E0020 SUBJECT CODE : 18MS02T2

2. Mid Topic Marketing information system (MIS)

3. The Marketing Information System refers to the systematic collection, analysis, interpretation, storage and dissemination of the market information, from both the internal and external sources, to the marketers on a regular, continuous basis. Meaning for MIS : Definition for MIS: According to K.cox and K.Gonod , “ Marketing information system is a set of procedures and methods for regular and planned collection, analysis and presentation of information in making marketing decisions ”.

4. Components of Marketing Information System:

5. Functions of Marketing Information System: The Marketing Information System performs six functions, viz.: 1. Assembling of marketing data. 2. Processing, i.e., editing, tabulating and summarizing the data. 3. Analysing the data, i.e., filling out percentage, ratios, test of significance, etc. 4. Storage and retrieval, i.e., filing and indexing. 5. Evaluating regarding accuracy and reliability of data. 6. Dissemination or distribution of relevant and wanted information to decision makers.

6. Importance of Marketing Information System: Anticipation of Consumer Demand Complexity of Marketing Significance of Economic Indicators Significance of Competition Marketing Planning Information Explosion

7. Advantages of MIS: Control of marketing costs Diagnosis of poor performance Flexible on-line retrieval of data Cheaper , more detailed, and more frequent reports Evaluation of advertising expenditures Improved storage and retrieval capability allows new types of data to be collected and used . Advertising strategy &Pricing strategy. Disadvantages of MIS: 1. Expensive 2. Depends on Database 3. Requires New Set of Skills 4. MIS lead to less reliable and less secure .so manager not preferred .

8. Conclusion: No doubt the number of companies developing and using such systems will increase. The main benefit offered by such systems is likely to be the facilities they offer for accessing the available information. Because of the volume, complexity and time-dependent nature of marketing information, the provision of market­ing information will continue to be the specialist marketing activity of marketing research.