marketing information system (powerpoint)
DESCRIPTION
Explains what is Marketing Information System (MkIS), its components, uses and how it works and its use for cooperatives.TRANSCRIPT
Marketing Information
System
Presented by:Antiga, Monique Chelsea De Vera, Angerica
Flores, Elisha Mitri Go, Willesa Liporada, RacquelRuiz, Sarah Lourene Silvano, Chris Lois
• A marketing information system (MkIS) is:
• Designed specifically for managing the marketing aspects business
• Intended to bring together disparate items of data into a coherent body of information
MarketingInformation System
• A marketing information system (MkIS) is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information for use by marketing decision makers to improve their marketing planning, implementation, and control.
MarketingInformation System
• Assess the information needs• Develop needed information• Analyze information • Distribute information
Marketing Information System
• Continuous System• Permanent and continuous system of
collecting information
• Basic Objective• To provide the right information at the
right time to the right people to help them take right decisions
Features of Marketing Information System
• Computer-Based System• Uses computer, so is up-to-date and
accurate
• Future-Oriented• Provides information for solving future
problems
Features of Marketing Information System
• Used by all levels• Used by all three levels of management
• Sources• Collects information from both internal
and external sources
Features of Marketing Information System
• Collects Marketing Information• Information about consumer competition,
marketing environment, etc.
• Helps in Decision-Making• Supplies up-to-date and accurate
information that helps take quick and right decisions
Features of Marketing Information System
ROLE OF MARKETING INFORMATION SYSTEM IN
DECISION-MAKING
• to improve the efficiency of a company’s operations
• to collect information about the, needs of the consumers
• to provide pertinent decision-making information to marketing managers
on regular basis
• helps recognize trends and changes
• analyzes marketing information and gathers it from sources inside and out
an organization
• facilitates marketing planning and control
• provides marketing intelligence for the
organization
COMPONENTS OF MARKETING INFORMATION
SYSTEM (MkIS)
A. Internal Reporting System
The internal reporting systems enable a company to always be aware of how they are performing as a team and what issues may need addressing.
Marketing managers get lots of information from the internal-records of the company. These records provide current information about sales, costs, inventories, cash flows and account receivable and payable. Many companies maintain their computerized internal records.
The internal records that are of immediate value to marketing decisions are: orders received, stockholdings and sales invoices.
Most marketing managers use internal records and reports regularly, especially for making day-to-day planning, implementation and control decisions.
Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities.
B. Marketing Intelligence SystemThe marketing intelligence systems are used to deal with the costs of running a marketing department and a business as a whole. It will process all the facts and figures delivering what needs to be spent where and what may be using too much money.
It collects information from external sources. It provides information about current marketing-environment and changing conditions in the market.
This information can be easily gathered from external sources like magazines, trade journals, commercial press, trade press, census, so on.
This information cannot be collected from the Annual Reports of the Trade Association and Chambers of Commerce, Annual Report of Companies, etc. The salesmen’s report also contains information about market trends. It can also gather information from Sales Force, Dealers and Distributors, and suppliers.
The information which is collected from the external sources cannot be used directly. It must be first evaluated and arranged in a proper order. It can be then used by the marketing manager for taking decisions and making policies about marketing.
Marketing Research Systems
Marketing Research Systems
• systems allow a company to really find out what their customers/potential customers think of the current trends and their views on certain items, or polices.
• can also delve into a customer's habits in the hope the company can spot a gap in the market or service
• can gather quantitative and qualitative information
• provides information to the marketing managers
• conducted to solve specific marketing problems of the company
• a proactive search for information
Marketing Research Systems
Marketing Models
Marketing Models• act as a concept or theory and a lot of
campaigns will be built with this guidance in m
• tools which help the marketing managers to analyze data and to take better marketing decisions
These tools are:• Time series sales models• Brand switching models• Linear programming• Elasticity models (price, incomes, demand, supply, etc.)• Regression and correlation models• Analysis of Variance (ANOVA) models• Sensitivity analysis• Discounted cash flow• Spreadsheet 'what if models
Marketing Models
Three levels of decision making:
1. Strategic decisions are characteristically one-off situations. This level of decision making is concerned with deciding on the objectives, resources and policies of the organisation.
Marketing Models
2. Control decisions deal with broad policy issues. Such decisions are concerned with how efficiently and effectively resources are utilised and how well operational units are performing.
Marketing Models
3. Operational decisions concern the management of the organisation's marketing mix. These involve making decisions about carrying out the "specific tasks set forth by strategic planners and management.
Marketing Models
DISTINGUISH BETWEEN MKIS AND
MARKETING RESEARCH
(MR)
Marketing Information
System
Marketing Research
Meaning
to collect, analyze and supply relevant marketing information to the marketing managers
systematic process of collecting and analyzing information to solve a specific marketing problem
Purpose to provide relevant information to marketing managers and enable them to make effective marketing decisions
to solve a specific marketing problem.
Scope Wide Narrow
Marketing Information
System
Marketing Research
Reports gives four types of reports namely, plan-reports, periodic-reports, triggered-reports and demand reports
provides only one report called as ‘MR Report’
Orientation Future Oriented Past & Present Oriented
Problems solve many different marketing problems at one time
only deals with a single marketing problem at one time
Marketing Information
System
Marketing Research
Data collected more frequently, usually almost daily
not collected frequently
Operation
permanent and continuous system
not a continuous system.
Computers
heavily based on the use of computers
hardly makes use of computers
IMPORTANCE OF MARKETING
INFORMATION SYSTEM includes all the data, in terms of facts, opinions, views, guidelines and policies, which are necessary to make vital marketing decisions
provides relevant, reliable and required information in respect of business environment-both internal and external environments.
ADVANTAGES OF MKIS
MkIS helps managers to recognize marketing trends. The changing trends may be in respect of prices, product design, packaging, promotion schemes, etc.
Market Monitoring
MkIS provides the information necessary to develop marketing strategy. Provides the foundation for the development information system-dependent e-commerce strategies.
Strategy Development
Effective market planning is required in terms of product planning, pricing, promotion and distribution.
Facilitates Marketing Planning and Control
A firm has to take quick decision for this purpose; it requires fast flow of information which is facilitated by a properly designed MkIS.Quick supply of information
In every aspect of marketing, there is need to make constant and correct decisions. A properly designed marketing information system promptly supplies reliable and relevant information.
Quality of decision-making
MkIS makes it possible to tap business opportunities as it can supply required and reliable data.Tapping of business opportunities
Marketing intelligence refers to information of the events that are happening in the external environment, i.e., changes in customer tastes, expectations, competitor’s strategies, gov’t. policies, international environment, etc. with the help of MkIS specialists, it is possible to collect marketing intelligence which is vital to make effective marketing decisions.Provides Marketing Intelligence
A firm which is well equipped with MkIS will be able to realize the need to change the line of business.Help managers to recognize change
Firms, which are largely decentralized can gather information which is scattered at many centers or departments and integrate it for effective decision making.
Integration of Information and Functional Integration
MkIS provides support for product launches, enables the coordination of marketing strategies, and is an integral part of sales force automation (SFA), customer relationship management (CRM), and customer service systems implementations.
Strategy Implementation
MkIS brings together many different kinds of data, people, equipment, and procedures to help an organization make better decisions.Builds relationships within the organization
MkIS can organize data collection and store these important data for over several time periods.
Convenient Storage
ESSENTIAL REQUISITES OF A GOOD MKIS
Unified and centralized: MkIS must be unified and centralized.
Facilitate decision making: MkIS must facilitate decision making.
Quick and accurate information: MkIS must provide quick and accurate
information. Economical:
MkIS must be economical.
Selective: MkIS must be selective.
Future-oriented: MkIS must be forward looking i.e.
future-oriented. Supply information regularly:
MkIS must supply information regularly.
Use new techniques: MkIS must use new techniques for
collecting, analyzing, storing and supplying information.
Agricultural MkIS in Asia and Pacific Region