Management Information System in Marketing Information System Essay

securities industry reading body may be defined as factual knowledge about the action, antecedents or consequences of friendly actors outside or inside the firm and the environs in which they operate. kind actors ar as consumers, completions, employee, institutions, suppliers, whole salers, retailers, govt. bodies and NGOs. The environment actors ar physical, technological, economic, legal and affable taboos. selling finish shop at constitution (MKDSS) is an training system that helps with decision devising in the formation of a trade externalize. The reason for victimisation a MKDSS is beca use of goods and services it helps to support the softw ar vendors planning strategy for selling cross fashions it gutter help to identify advantageous level of pricing, advertising spending, and advertising transcript for the firms yields. This helps determines the firm market mix for product software. different Constitute AreConsumer behaviour, Aggregate demand, the comp etition, Political/ Legal/ Social environment, convergence consideration, Distribution questions, Pricing consideration, Communication issues and Organizational behaviour. merchandising cultivation schema merchandise Science placementthis includes statistical models and analysis, entropy base, quantitative, analysis, mathematical models and analysis, and product analysis. All these head t to each unmatcheder to interpretation of analysis and findings to arrive at remainder and recommendation. Normative outline this system narrates shapes of judgment of an organization what is good or bad, important or unimportant, what action should be or should non be taken in. It is connected to communication system and market science system. The prescriptive system translated organizational goals into sub-goals, policies and standards. Output -The overall output of MIS in the focussing decision system arrives at policies, rules, procedures and directives with regards to organizing, pl anning, staffing, executing and controlling. apply Back -Feed back on an environment and organization is through the output of marketing teaching system. However, one discount non specify what reading is occupyed for decision making until an explanatory model of the decision process and the system involved in it are constructed and evidenceed. The marketing schooling system enables in assessing the managerial schooling and their feedback effects on environment and organization. This is a continuous process to root the very open system of marketing in terms of responses to the interior(a) and external pressures.Computer, electronics, communication and audio video technologies have converged closely to stupefy a new style of operating business. The overlyls, the technologies and the well designed solutions and system are available to support all implys of the business. What is collected is an corporate solution out of these technologies and the system offering an enter prise wide concern support. Such an integrated solution is called as the Enterprise focus brass (EMS), which when implemented in an integrated manner for co-ordinated and co-operative function of the business bowl over rise to the Enterprise Management System.Technology Evaluation FactorsClient legion architecture and its implementation- two tier or three tier. Object orientation line of credit in tuition and methodology.Handling of server and client based entropy and application logic. Application and use of standards in all the phases of development and in the product. Front end tools and backend data based concern system tools or the data, process presentation caution. Interface mechanisms Data transfer, real time access, OLE/ODBC compliance. consumption of case tool, screen generators, report writers, screen painter and batch processor. deliver system technology like bar coding, EDI, imaging, communication, network. Down loading to PC based packages, MS-Office, Lot us note etc. Operation system and its level of usage in the system.Hardware- software configuration management.Marketing Information System is Information System used in Marketing and management that automatise several(prenominal) gross revenue and gross gross gross sales force management functions. They are often combined with a marketing cultivation system, in which case they are often called customer relationship management system. gross sales force management system are nurture system used in marketing and management that automate some sales and sales force management functions. They are frequently combined with a marketing information system, in which case they are often called customer relationship management. Enterprise Management System (EMS) is any of the strategies and technologies employed in the information technology persistence for management the assume, strong, security, revision control, retrieval, diffusion, preservation and destruction of documents and content. EMS especiallyconcerns content trade into or generated from within an organization in the course in the course of its operation, and includes the control of access to this content from outside of the organizations processes.Marketing management is about finding ways of satisfying customer wants and takes, opus achieving organizational objectives or requirements in terms of profit or some other measure of corporate performance. It brings unitedly all customer-impinging resources, such as product design and specification, advertising and other forms of progression, pricing policy, selling, channels of distribution and physical distribution to achieve this end. These customer-impinging resources are often summarized under quaternity headings and referred to as the four Ps of the marketing mix (price, furtherance, place and product). The device or science of marketing management is concerned with making decisions/policies with prise to the elements of the marketing mix such that the companys interface with its markets is two profitable and customer satisfying.Marketing Information SystemsThe concept of marketing information systems has been around for many years. Early systems were paper-based systems but, with the emergence of computers with large storage capacities and after microcomputers with similar features, marketing information systems have become more electronic in nature. MIS (marketing information systems) croupe be classified under fiver headingsPlanning systems which add information on sales, costs and competitive activity, together with any kind of information which is needed to formulate plans. Control systems these get out continuous monitoring of marketing activities and enable marketing executives to identify problems and opportunities in the marketplace. At the same time, they permit a more detailed and ecumenical review of performance against plans. Marketing research systems such systems allow executives to test deci sion rules and cause/effect hypotheses. This permits the assessment of the effects of marketing actions and encourages alter learning from experience. Monitoring systems these systems provide management with informationconcerning the external environment in which they are operating. One can define a marketing information system as one which scans and collects data from the environment, makes use of data from transactions and operations within the firm and then filters, organizes and selects data forward presenting them as information to management.Using a Marketing Information SystemAs we have seen above there are two basic. ingredients to a marketing information system. On the one hand, there is a database or a number of databases containing a variety of data about the firm, its competitors, its markets and the environment. On the other hand, there is the provision of a wide variety of uninflected tools capable of exploring the data and turning it into meaningful information f or management.When designing a marketing information system a number of important questions need to be answered in the first place. These are(1) Exactly how much information provide be entered in the database?(2) What information entrust be entered into the database?(3) How will it be entered into the database?(4) How will it be manipulated once it is in the database?(5) To whom will reports be sent?The question of how much information is extremely important. in that respect is ever so a danger that too much information may be entered. This will only serve to overload managements information processing abilities. In addition, any data or information which is not used by management is clearly redundant and will be taking up valuable storage space in the information system. From time to time it is necessary to review the information available in the information system and to remove any that is not being used.Creating a real world MIS for those that cannot afford to wait Rather tha n wait for the intake to materialize, marketers need to improvise. They need a system that enables them to (1) make better decisions and (2) support those decisions with verifiable data. The initial steps of this approach typicallyinvolve the succeeding(a)1. Look at what systems the company already has in place,2. Determine what sound marketing information can be gleaned from those systems,3. Identify the information marketers need that they are not getting from existing systems,4. Create, or find, additional systems to provide the needed marketing information,5. Integrate these systems with companywide enterprise systems (if possible and not too costly).1. Start with the accounting systemA good place to bulge out is the business system that every business has the Accounting system. What information do businesses get from their accounting system that is useful to marketers?1. gross sales2. Costs/Expenses3. meshingIf the accounting software is well designed and flexible, this information can be sorted in a variety of ways including by (1) Sales psyche, (2) Product, (3) SKU (stock-keeping-unit), (4) Division or Region, (5) Distribution channel, (6) Reseller, and (7) Season. The information obtained from the accounting system is typically enterprise-wide and at a macro level. It usually does not give marketers, or their bosses, the information necessary to (1) determine the effectiveness of the organizations marketing efforts (2) enable it to react quickly to real-time crises and opportunities or (3) respond promptly to competitive threats. Some of the information that marketers need from an effective marketing information system includes the following1. Marketing strategy feedback (or how well marketing strategies are working)2. Complaints3. Compliments (testimonials)4. New Product ideas5. Competition information6. Marketplace changesTo capture and properly respond to this information, most marketers need to create a Marketing Information System that au gments the macro information provided by their accounting systems. 2. Market Information FormTo minimize paperwork, marketers can collect a bargain of the information from the above list on a Market Information Form (or its electronic equivalent). The information collected and how this information is used is summarized below. 1. Complaints. one time collected, complaints are distributed to those that can solve the problem quickly. The objective is to turn the minus into a positive and build a stronger relationship with the offended party. The way companies handle complaints can mean the difference between success and chastening in an increasingly competitive marketplace. 2. Compliments. After obtaining permission, marketers use compliments in their marketing communications. Nothing is more effective than bona fide testimonials from customers. Copies are in any case presumptuousness to sales people so they can put them in their sales notebooks and use them to impress prospects and close business.3. New Product ideas. These are cater into the companys new product development system.4. Competition Information. This is given to sales people to put in their sales notebooks so they can use the data to answer objections and close business (with the caveat of not disparaging competitors) and is fed into the companys new product development system so that new products can be designed to parry competitors.5. Strategy feedback. This information is organized by the marketing building blocks (1) corporate image, (2) positioning, (3) product, (4) pricing, (5) distribution, (6) promotion, and (6) marketing information system (yes we need to collect information as to how well our MIS strategies are working). Based on feedback, strategies are adjusted as necessary. A pad of these forms (or an electronic version) is provided to all the contact points including (1) Receptionists and secretaries that answer the phone, (2) Sales people, (3) Customer service people, (4) Re pair people, (5) Personnel that respond to inquiries and complaints online and on tender media, and (6) accounts receivable (since they often hear about complaints when they try to collect on late invoices). 3. Lead CardLeads are captured on a conk out visor or its electronic equivalent. Sales people use the go along card to follow up on a prospects interest with the objective of closing the sale. In addition to notes of all contacts, there are four main pieces of information that should be captured on the pass on card.1.Identification of the prospect. If you are selling to a business, most of the information you need is on your contacts business card. For additional information you need, your guide card should be designed so you can add it with stripped-down effort.2. Product interest. The products you typically sell should be pre-listed on the lead card so sales people can quickly check them off.3. microscope stage of interest. This is your sales persons guestimate of how likely the prospect is to get your product in the current period, which is usually this month. Because the degree of interest is also called buying temperature the metaphor for degree of interest that is often is used is desirous for the most interested leads, Warm for the next most interested leads, and change for the least interested. The animated leads should automatically update another MIS report called the stifling angle of dip.4. Lead source. All promotion that you do should have a grotesque code so that when the lead is captured, you know what marketing activity generated the lead. This lead source should automatically update another MIS report called the Promotion dominance report. In addition to helping sales people follow up on leads and close business, smart marketers use lead card information for other Marketing Information System purposes, such as the earnest List and Promotion Effectiveness Report described below. 4. zesty ListAn MIS report called the impor tunate List contains the following information on thermal leads1. Prospect name. This could be a business or individual.2. Decision makers. This is so the sales person does not waste time talking with the damage person.3. Product or project proposed. This is what the prospect wants.4. Proposal date. This is the date the product proposal and estimate of the cost is given to the prospect.5. Dollar-amount proposed. This is the price of the product proposed.6. percent chance of closing in the current period. To qualify for the Hot List, a Hot lead should have at least a 25% chance of closing in the current period (each company should square up their own minimum threshold for Hot).7. judge Value (5 multiplied by 6). If the dollar amount proposed is $10,000 and the % chance of closing is guestimated to be 50%, the pass judgment value would be $5,000.8. Objections. This lists the objections that are keeping the prospect from buying. Sales managers use the Hot List in two ways.1. Help close sales. The sales manager helps sales people to close Hot leads by coaching them on how best to answer the Objections in column 8 of the Hot List. 2. Dynamic sales forecast. The sales manager helps to insure that the sum of Expected Values equals, or exceeds, each sales persons quota for the month. If the anticipate values are lower than a sales persons quota, the sales manager can encourage the sales person do whatever is necessary to get more Hot leads on the Hot List so that the sum of Expected Values equals or exceeds the quota. The sales quotas of all the sales people should sum to the measurable goal of the Marketing Plan. 5. Promotion Effectiveness ReportAs each sales person captures the promotion source for each lead on the Lead Card, the information automatically flows onto his or her Promotion Effectiveness Report. Every time a sales person gives a presentation or makes a sale from a lead, that information is recorded on the Promotion Effectiveness Report. The MIS system automatically adds up the total number of the leads, presentations, and sales company-wide for each promotion source.When compared to the costs of that promotion source, the marketing department can calculate the promotion effectiveness, or ROI, of each promotion. Since totals for leads, presentations, and sales are available in the MIS by sales person, the sales manager can automatically compute the batten average of each sales person and determine the number of leads and presentations each one needs to make his or her sales quota. In this way, the sales manager and the company marketers systematically work together to insure that (1) plan goals are met and (2) the money invested in promotion is not wasted (the ads and promotions that are effective will be repeated and the ones that dont will be discontinued). 6. Market ResearchThe systems above (Market Information Form, Lead Card, Hot List and Promotion Effectiveness Report) typically capture information in real time and pr ovide a lot of great information that help the marketing function do a more effective job and prove it to the CEO. Even so, this is not enough. There are bland holes in the information marketers need. In an effort to plugthese holes, there is one big missing piece Market Research. There are two big categories of Market Research lowly and Primary. 7. Secondary ResearchSecondary research is simply research done by others. Perhaps the superlative invention for secondary research is the search engine. Marketers can simply quality in search terms in a search window and browse the Internet for any data related to those search terms. Furthermore, marketers can set up alerts. That is, search terms can be entered into a search engine so that the search engines crawlers will continually search for anything that contains those search terms and send you an email when it finds them. There are so many other sites, which marketers frequent, that provide a wealthiness of information. Just a few examples include Media Post, Marketing Sherpa, Brand Channel, Hoovers, the CIA humankind Factbook, and ClickZ. 8. Primary ResearchWhen some big holes remain that still need to be plugged, marketers will often do primary research, which is their own research. greens forms of primary research include surveys, focus groups, experiments, and various forms of crowd sourcing.