4 Primary Components Of Marketing Data Organization (Mis)

Components of Marketing Information System MIS

Marketing Information System (MIS) collects, analyses, in addition to supplies a lot of relevant information to the marketing managers. It is a valuable tool for planning, implementing in addition to controlling the marketing activities.

The business office of MIS is to position (find out) what form of information is required past times the marketing managers. It thence collects in addition to analyzes the information. It supplies this information to the marketing director at the correct time. MIS collects the information through its subsystems. These subsystems are called components.

The 4 top dog components of Marketing Information System (MIS) are:

1. Internal Records,
2. Marketing Intelligence,
3. Marketing Research (MR), and
4. Marketing Decision Support System.

The basic components of MIS are depicted in addition to explained below.

Image credits © Prof. Mudit Katyani.

1. Internal records : The commencement cistron of MIS is ‘Internal Record’. Marketing managers larn lots of information from the internal-records of the company. These records render electrical flow information nearly sales, costs, inventories, cash flows in addition to occupation concern human relationship receivable in addition to payable. Many companies keep their computerized internal records. Inside records assistance marketing managers to make faster access to reliable information.
2. Marketing intelligence :
   1. The minute cistron of MIS is ‘Marketing Intelligence’. It collects information from external sources. It provides information nearly electrical flow marketing-environment in addition to changing weather condition inwards the market. This information tin hold out easily gathered from external sources like; magazines, trade journals, commercial press, thence on. This information cannot hold out collected from the Annual Reports of the Trade Association in addition to Chambers of Commerce, Annual Report of Companies, etc. The salesmen’s study also contains information nearly marketplace trends.
   2. The information which is collected from the external sources cannot hold out used directly. It must hold out commencement evaluated in addition to arranged inwards a proper order. It tin hold out thence used past times the marketing director for taking decisions in addition to making policies nearly marketing.
   3. So, marketing tidings is an of import cistron of MIS.
3. Marketing research : The 3rd of import cistron of MIS is ‘Marketing Research’. MR is conducted to solve specific marketing problems of the company. It collects information nearly the problem. This information is tabulated, analyzed in addition to conclusions are drawn. Then the recommendations are given for solving the problem. Marketing query also provides information to the marketing managers. However, this information is specific information. It tin hold out used alone for a item purpose. MIS in addition to MR are non substitutes of each other. The orbit of MIS is real wide. It includes ‘MR’. However, the orbit of MR is real narrow.
4. Marketing determination back upwards system : The 4th cistron of MIS is ‘Marketing Decision Support System’. These are the tools which assistance the marketing managers to analyze information in addition to to direct hold amend marketing decisions. They include hardware, i.e. reckoner in addition to software programs. Computer helps the marketing director to analyze the marketing information. It also helps them to direct hold amend decisions. In fact, today marketing managers cannot move without computers. There are many software programs, which assistance the marketing director to create marketplace segmentation, cost fixing, advertising budgets, etc.