Marketing Information System is a system that helps people make good decisions by managing marketing information. It collects, organizes, and analyzes data from various sources such as customer surveys, market research reports, and social media platforms. By providing valuable insights into consumer behavior, market trends, and competitor analysis, the Marketing Information System enables businesses to develop effective marketing strategies and stay ahead in the competitive market.
Features of Marketing Information System
Continuous flow
A well-designed marketing information system gives you consistent data to help you make choices. This information can then be used to make informed decisions about pricing, promotions, and product offerings. The use of electronic cash registers and computer systems eliminates the need for manual data entry and reduces the risk of human error.
Computerized System
The marketing information system operates on computer-based systems which allow for efficient processing of the information. This system helps businesses make informed decisions regarding their marketing strategies by providing them with accurate and up-to-date market data. By automating the process, the marketing information system saves time and resources, while also ensuring that the data is processed accurately and consistently.
Right and Timely Information
Marketing Information System (MIS) ensures that the company maintains an accurate and up-to-date database of information related to its marketing activities. The database includes information on the level of competition in the market, the marketing environment, government policies that may affect marketing strategies, and other relevant data.
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Future Oriented
Marketing Information System helps in making informed decisions about future activities. By gathering and analyzing data on market trends, consumer behavior, and competitors, the MIS provides valuable insights that can guide strategic planning and the development of marketing strategies.
Easy Accessibility
Marketing information system provides managers with easy accessibility to relevant marketing information. By having easy access to this valuable information, managers are able to stay updated on market trends, consumer preferences, and competitor activities, allowing them to effectively plan and execute their marketing efforts.
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