Full Name: Topic: Potential Uses of MIS in Making Sound Marketing Decisions Introduction In general terms Marketing Information System (MIS) is “a set of procedures and methods designed to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis that is used operationally, managerially, and strategically for several aspects of marketing” (Oluwabamidele, 2011)…
Let us write or edit the essay on your topic
"Critically assess the potential use of the marketing information system (MIS) to help marketing managers understand and fulfill"
with a personal 20% discount.
However the previous research studies suggest that following avenues of the firms’ decisions in relation to its market operations are typically addressed in modern-day MIS; (1) the background factors (2) the actual information processing behavior and (3) the role of information activities in shaping the firm’s competitive advantage. Therefore it is clear that MIS address all the avenues of decision making in marketing. Current study attempts to compile the characteristics of the information processing involved in making sound marketing decisions and the specific advantageous of using MIS. Steps involved in information processing which is aimed at formulating sound marketing decisions are illustrated and the performances of modern-day MIS are evaluated in terms of the advantageous and scope for development. Marketing is a well structured subject area which contains clear conceptual frameworks and a substantial amount of empirical case studies which utilize the subject theory. It is defined as “a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others” (Kotler, and Armstrong, 2010). ...
changes in market conditions and anticipating market competition from new domestic and international firms entering into market and intensifying competition from the existing firms (3) design reliable marketing plans, considering the advantages and disadvantages of alternatives marketing strategies (4) find effective solutions to specific problems such as what is the best approach for launching a new product and what are the suitable product promotion strategies and (5) improve the overall performance of the organization by better controlling, monitoring and implementing marketing strategies which in turn increase the efficiency and the effectiveness of firms’ marketing division (Churchill, 2001; & Leonidou, and Theodosiou, 2004). Basic characteristics of MIS 1) The Background Factors Incorporated in MIS The background factors which can influence the marketing decisions include characteristics of the firm and the manager, government policies and consumer preferences and income levels. Previous researches which are aimed at exploring the background factors indicate that organizations with innovative cultures are more likely to seek information and appreciate its usefulness in making marketing decisions. Experience, level of education, cognitive styles and decision-making levels determine the manager’s information-processing style. Organizations which are not hierarchical in structure and decision making process is rather decentralized obtain more advantageous from MIS compared to those organizations which are highly formalized (Menon & Varadarajan, 1992). Moreover, the volatility in the external marketing environment also increases the degree of usefulness of MIS to marketing managers. Market volatility increases the supply and demand uncertainty which in turn ...
Cite this document
(“Critically assess the potential use of the marketing information Essay”, n.d.)
Retrieved from https://studentshare.net/marketing/104606-critically-assess-the-potential-use-of-the
(Critically Assess the Potential Use of the Marketing Information Essay)
“Critically Assess the Potential Use of the Marketing Information Essay”, n.d. https://studentshare.net/marketing/104606-critically-assess-the-potential-use-of-the.
The author considers a marketing manager should have the ability to establish relationships with customers. An efficient marketing strategy contributes towards the financial success of a company. A good manager should learn to assess the demands of the customers and accordingly communicate and deliver goods and services to the customer.
The business world has changed significantly in the way that businesses market their products to customers. Businesses produce goods and services that they sell to the customers at a profit. Thus, the aim of the businesses is make a profit while, the aim of the customers is to obtain the goods and services that they need to increase their utility.
The development of internet-based technologies opens endless opportunities for Marketers. Marketing research can be carried out subtly by actively archiving the procedures that each individual undertakes on the Web, through Web tracking software. Thus making a whole new set of variables available to the marketer.
According to Kotler (123), a modern marketing information system “consists of people, equipment, and procedures to gather, sort, analyze, and distribute needed timely, and accurate, information to marketing decision makers.” This paper will propose a marketing information system which is appropriate to Dell, Incorporated (Dell).
They are fighting for changes in government policy and undertaking researches sin order to find out needs of aged people. Their aim is to provide local services across UK and to improve the lives of most vulnerable citizens. The main guidelines of the study are:
The new and faster technology has helped human to explore one corner of the world while sitting in the other corner. The world has been shaped into a global village that is being supported by the new technology. Communication around the globe has become a matter of
In the past, the 4Ps (product, price, place and promotion) of marketing strategy were highly relevant mainly because of the three reasons: There was lack of variety within the products; people were exposed to limited means of
The decision maker in this case, therefore, has to equip themselves with ample information on these factors so as to plan ahead comfortably as well as to establish the consequence these factors may inflict on the internal activities of the organization as well as its market.
4 Pages(1000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Critically assess the potential use of the marketing information system (MIS) to help marketing managers understand and fulfill for FREE!