Marketing information system akash deep maurya

Marketing Information System

Akash Deep Maurya

MT14IND002

M. Tech. (Industrial Engineering)

2014-2015

DEPARTMENT OF MECHANICAL ENGINEERING

VNIT NAGPUR

MARKETING INFORAMTION SYSTEM

2

Information flows all round the market just as the blood flows in living beings.

For the company , these information should be collected and take strategic decisions related to market according to it.


3

Every firm must organize and distribute a continuous flow of information.

Marketing decision makers use this data to solve various marketing related problems.


4

Why information is needed?


5

Market information system

It is continuing & interacting structure

of people, equipment & procedure to

gather, sort, analyze ,evaluate &

distribute needed, timely & accurate

information to marketing decision

makers.


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Marketing information system is a planned system of collecting, processing, storing & propagate data in form of information needed to carry out the management functions.

-Philip Kotler

Market information system


7

MARKET INFORMATION SYSTEMDAT

A(external &

internal)

Market Researc

h Division

Market Intelligence Division

Market Manage

rs Division

Market Strategy

& Decision

s

Top Manageme

nt

MIS Cycle


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Features of a good MIS:Continuous system:

It is a permanent & continuous system collecting the information

up to the desired level of detail.

Basic objective:

To provide right information at right time to right people to help

them to take right decisions.

Computer Based:

Computers are used for accurate data storage and proper data

management.


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Features of a good MIS:

Future Orientation:

It should provide information that could be used to solve

future problems.

Relevance:

An effective MIS takes data that originates in the areas of

activity that concern the manager at any given time, and organizes it

into forms that are meaningful for making decisions.

Used by all levels of management:

Top , middle and lower level of management use the

information for marketing plans, policies & strategies.


10 Features of a good MIS:

Accuracy:

The sources of the data determine whether the

information is reliable and accurate.

Collects market dynamic information:

MIS collects the consumer competition, market

environment, competitor policies & strategies, Government policies.

Help in decisions:

Up-to-date and accurate information directly helps in

decision making.


11 Features of a good MIS:

Usefulness:

The MIS has to make useful information easily

accessible.

Timeliness:

The more recent the data, the more these decisions will

reflect present reality and correctly anticipate their effects on the

company.

Completeness:

If some information is not available due to missing data, it

highlights the gaps and either displays possible scenarios or presents

possible consequences resulting from the missing data.


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Problem: The brand positioning of PepsiCo’s flagship with

COCACOLA brand needed to be change.

Approach: Global consumer research.

Interpretation: PepsiCo lost sight of what it stands for

and its role in customers’ lives.

Solution: New global marketing campaign.

Result: A worldwide campaign brought back the roots of

Pepsi.

PepsiCo’s market problem


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Market information system Block Diagram


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Components of MIS


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Internal Records (Data Bases):

Extensive internal data base, electronic collections of consumers and market information obtained from data source within the company network.

Marketing managers can readily access and work with information in the data base to identify marketing opportunities and problems, plan programs, and evaluate performance.

More quick and cheap than other information sources.

Problems faced:

1.Older data becomes obsolete.

2.Maintenance & storage could be a problem.


16INTERNAL DATA RECORDS

• Total sales: daily, weekly, monthly.• Sales by products• Territorial sales: measure the degree of market penetration.• Sales by trade classification : textiles, engineering or

chemicals.• Sales volume by market segment : static, declining or

expanding.• Sales volume by type of channel of distribution.• Sales volume over time covers actual sales and units sold.• Pricing information.• Communication information: effects of advertising campaigns,

sponsorship, direct mail programs or exhibitions.• Sales representatives’ records and reports.• Inquiries received and quotations sent.


17 Marketing Intelligence:

It is method to get the information about the

environment- newspapers, trade publications,

internet, observations etc.

It is systematic collection & analysis of

publically available information about the

competitors & trends in marketing environment.


18EXTERNAL DATA RECORDS

1.Government data (census data, income ,expenditure

statistics)

2.Commercial data (e.g. Panel data, Store audits)

3.Social statistics

4.Overseas trade statistics

5.Business monitors(production, services series)

6.Household expenditure

7.Economic surveys

8.International sources


19 Marketing Research:

Systematic design, collection , analysis &

reporting of data relevant to a specific marketing

situation.

Organizations engage in marketing research for

two reasons:

(1) to identify marketing problems

(2) to solve marketing problems


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Define the problem & research

objectives

Develop the research plan for collecting information

Implementing the research

plan, collecting & analyzing the

data

Implementing &

reporting the findings

Steps of Market Research


21 Marketing Decision Support System(DSS):

Tools to help marketing managers to analyze data & take quick decisions.

Usually a computer or data stores.

to retrieve information useful in making semi structured and unstructured decisions.


22 Typical DSS includes following models and tools for:

o Sensitivity Analysiso What-If Analysiso Goal settingo Exception reportingo Time series sales modelo Forecasting Modelso Simulation Modelso Linear programmingo ANOVA(analysis of variance)


23 Data collection techniques:

Contact method:mailtelephoneinterview (feedback)online review

Sampling plan:Sampling unit(which people)Sampling size(number of people)Sampling procedure(method of choosing)


24 Data collection techniques:

Research Approach:observationsurveyexperiment

Research Instrument:questionnairestrackingmechanical(people meter, check out

scanner)


25 Importance of Market Information System

• Anticipation of customers.• Systematic approach.• Economic indication.• Technology development.• Market planning.• Understanding the consumers.• Improving the efficiency.• Recognize trends & changes.• Strengthen buyer/supplier relation.


26 Nature and Scope of MIS


27Benefited organizations:

PepsiCo

Google

Walmart

Microsoft

Bajaj and many more.


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It is becoming increasingly important for marketing management to have up-to-date information to carry out its tasks.

Marketing is becoming increasingly proactive & must seek to identify changes and trends in the macro-environment and then translate these into action plans.

Thus MIS serves best to its purpose and therefore turns organization profitable.

Conclusion


29 References:

1. The Role of Marketing Information System on Decision Making "An Applied study on Royal Jordanian Air Lines (RJA)" International Journal of Business and Social Science Vol. 2 No. 3 [Special Issue - January 2011]

2. MARKETING INFORMATION SYSTEMS: AN EMERGING VIEW (Working paper: ALFRED P. SLOAN SCHOOL OF MANAGEMENT

David B. Montgomery & Y Glen L. Urban)

3. http://ebooks.narotama.ac.id/files/Essentials of Marketing Management/Chapter 12 Marketing Information Systems And Research.pdf

4. http://www.headscratchingnotes.net/2011/10/marketing-information-systems-mis/