4 Principal Components Of Marketing Data Organisation (Mis)

Components of Marketing Information System MIS

Marketing Information System (MIS) collects, analyses, together with supplies a lot of relevant information to the marketing managers. It is a valuable tool for planning, implementing together with 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 thus collects together with analyzes the information. It supplies this information to the marketing managing director at the correct time. MIS collects the information through its subsystems. These subsystems are called components.

The 4 master copy 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 together with explained below.

Image credits © Prof. Mudit Katyani.

1. Internal records : The outset constituent of MIS is ‘Internal Record’. Marketing managers instruct lots of information from the internal-records of the company. These records render electrical flow information virtually sales, costs, inventories, cash flows together with line concern human relationship receivable together with payable. Many companies hold their computerized internal records. Inside records assistance marketing managers to hit faster access to reliable information.
2. Marketing intelligence :
   1. The instant constituent of MIS is ‘Marketing Intelligence’. It collects information from external sources. It provides information virtually electrical flow marketing-environment together with changing atmospheric condition inwards the market. This information tin hold upwardly easily gathered from external sources like; magazines, trade journals, commercial press, thus on. This information cannot hold upwardly collected from the Annual Reports of the Trade Association together with Chambers of Commerce, Annual Report of Companies, etc. The salesmen’s study also contains information virtually marketplace trends.
   2. The information which is collected from the external sources cannot hold upwardly used directly. It must hold upwardly outset evaluated together with arranged inwards a proper order. It tin hold upwardly thus used past times the marketing managing director for taking decisions together with making policies virtually marketing.
   3. So, marketing tidings is an of import constituent of MIS.
3. Marketing research : The 3rd of import constituent of MIS is ‘Marketing Research’. MR is conducted to solve specific marketing problems of the company. It collects information virtually the problem. This information is tabulated, analyzed together with 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 upwardly used alone for a detail purpose. MIS together with MR are non substitutes of each other. The range of MIS is rattling wide. It includes ‘MR’. However, the range of MR is rattling narrow.
4. Marketing determination back upwardly system : The 4th constituent of MIS is ‘Marketing Decision Support System’. These are the tools which assistance the marketing managers to analyze information together with to accept amend marketing decisions. They include hardware, i.e. reckoner together with software programs. Computer helps the marketing managing director to analyze the marketing information. It also helps them to accept amend decisions. In fact, today marketing managers cannot run without computers. There are many software programs, which assistance the marketing managing director to create marketplace segmentation, toll fixing, advertising budgets, etc.