Marketing Information System
Objective of MIS
- Provide Right information
- on Right time
- to Right person
- For decision making
Assessment of the information need is important because of following reason:
- There must be a balance between what information is wanted and what is cost effective, obtainable and needed
- Too much information can be as harmful as too little information
- Information gathering costs - It requires effort, time and money.
Information can be obtained from various sources:
- Internal company records
- Marketing intelligence system
- Marketing research
- Data warehouses - contain all customer information in a single other accessible source
- Guest history information- booking, cancellation, overbooking, yielding etc.
Sub-system of MIS
Internal Record system - The internal records that are of immediate value to marketing decisions which provide data on sales, costs, inventories, cash flows etc.
- The Order-to-Payment Cycle
- Sales Information System
- Databases, Data Warehouses and Data-Mining
Marketing Intelligence System - A Marketing Intelligence System consist a set of procedures and sources used by managers to acquire day to day information about developments in the marketing environment.
Marketing Research - Marketing research is a process that identifies and determines marketing opportunities and problems to monitors and evaluates marketing actions and performance, and communicates the findings and implications to management.
Decision Support System - Decision support system consist statistical techniques and decision models to assist marketing managers to make better analysis and decisions.