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Marketing Information System

Definition of Marketing Information System ( MIS )

Marketing Information system is to collect, sort, analyze, evaluate the information relating to marketing. After this, information is distributed to marketing decisions makers. Internal company records and marketing research are the main sources of marketing information .

Need and Importance and Advantages of Marketing Information System or System to Handle Marketing Information:

1. For making marketing planning

Marketing information system is very useful for making marketing planning. With MIS, we get useful information for marketing short term and long term plans. Suppose, we are new banking company for providing loans to students. But, if our MIS gives us the correct information about how many companies are already providing this facilities, then we can make good strategic planning according to this.

2. Helpful to marketing control

With MIS, we can control marketing risk and our decision becomes effective.

3. Helpful to convert raw data into useful marketing information

MIS makes perfect system in which information providers can easily convert raw data into useful marketing information.

4. Integration

Marketing information system creates integration between all departments.

5. Improve the data capture process

MIS has a perfect system in which there are many steps to collect and convert into useful information. So, it improves the data capture process.

6. Helpful in transfer of Information

MIS makes way easy for transferring the information to those who need it.

Types of Marketing Information System

( I )  Classification which is based on the purpose of information.

( II ) Classification which is based subject matter of the information

Steps of Marketing Information System (MIS)

Ist Step

Defining the information need

2nd Step

Classification of information

3rd Step

Evaluation the cost of collecting the information

4th Step

Identifying the source of information.

Requisites of Good MIS

  1. economical
  2. user friendly
  3. fast
  4. clarity
  5. accuracy
  6. reliability
  7. unbaised
  8. relvance to decision making
  9. completeness
  10. suitable

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