Marketing Information system is a management information system that supports decision making processes in marketing (Kotler & Keller, 2006). Marketing data is gathered, stored, and analyzed within this system and distributed on timely basis to managers to enhance decision making processes (Kotler, 1988). It is a continuing and an interactive structure of people, equipment and procedures to gather information that is used in decision making processes in an organization. The major components of management information system are internal reporting systems, marketing research system, marketing intelligence system, and marketing models. Information touching on finances, production, manpower, marketing, stockholding, and logistical data are normally stored in marketing information system. Orders received, stockholdings and sales are also stored in the marketing information system. Other than the above named information, marketers can also get information related to product type, size, and pack by territory, type of account, industry, and customer; average value and volume of sale by territory, type of account, industry, and sales person are also stored in the marketing information system (Agnilar, 1967).
Question2. Steps in marketing research process
Marketing research processes informs business decision process. The process involves definition of the objective or the problem, determining the research design, designing and preparation of research instrument, data collection, analysis of data, and visualization of data and subsequent communication of results (My Market Research Methods, 2011).
Definition of the problem is the most important process in marketing research. It involves defining of goals and objectives of the project. Once somebody has known the research object, s/he undertakes to plan out the type of research that can best obtain the necessary data. By understanding business problem clearly it makes it easy for research to be focused and effective. Determination of research design begins with determination of market research method followed by planning on where the research will be conducted. The goal of the research must always be kept in mind (My Market Research Methods, 2011). The choice of research instrument should be based on nature of data to be collected. Thus far one can decide to engage in exploratory research, descriptive research, or causal research. Designing research tool involves writing of questions and designing the questionnaire. There are a number of software packages that can be used...
These are Excel, SPSS, and Minitab. After marketing research data has been analyzed, sense has to be made out of that data by making digestible report or presentation. This is where charts and graphs are used. Visualization of data also involves presenting insights, answers, and recommendations (My Market Research Methods, 2011).
Question3. Telephone interviews have reduced costs; have quick turnaround time; interviewers can be closely supervised to assure greater standardization of administration; the invention of computer driven questionnaire presentation has also given some edge to telephone interview (Holbrook, Green & Krosnick, 2003). Some of the disadvantages of telephone interviews are unlike in face-face interview where show cards can be used to present choices to consumers, advance contact is a perquisite in telephone interview where show cards are mailed to the respondents. Telephone interviews at times forego the use of show cards.
Mail questionnaires are least expensive because they are sent with the names and addresses of the target population. Pictures can be included in the questionnaires like show cards. Respondents can answer questions at their leisure time rather than at the convenient time of the person conducting the interview through medicine. The disadvantages with mail questionnaires are that long duration of time is spent in mailing the surveys (Jeff Anderson Consulting 2013). This takes several weeks. Mails questionnaires cannot be used in populations with lower educational and literacy levels where response rates are often too small.
Online interviews are extremely fast, large samples do not cost much more than smaller samples, pictures, audios, and videos can be included. Significant numbers of people give more honest answers in online interviews especially those touching on sensitive topics. Web-based questionnaires uses complex question skipping logic, randomizations, and other features that cannot be used with paper questionnaires (Jeff Anderson Consulting 2013). Online interviews that basically make use of internet do not reflect the population as a whole. Respondents can also quit in the middle of the questionnaires.
Through face-to-face interview an interviewee can see and feel the product especially when there are show cards. The target population can be accessed easily than by calling phone numbers at random. Longer interviews can be tolerated in face-to-face interviews than when interviews are conducted over the phone. However, personal…
Marketing Information System This is a type of management information system that is designed for supporting the process of marketing decision making. This is a system which is planed and entails the collection, processing, storage and dissemination of data in information form required in carrying out management functions.it is also termed as a system made up of people, equipment and procedure which are used in gathering, sorting, analyzing, evaluating and distribution
By aligning the many sources of marketing information from internal records, competitive intelligence databases and systems, in addition to integration of the Marketing Information System to the Customer Relationship Management (CRM) system, marketers and senior managers will be able to quickly get the information they need to complete the planning and execution of strategies. Real-time integration between the Marketing Information System and the Market Research Systems(s) in place throughout DirecTV
The most critical elements of how MIS systems and processes are contributing to efficiency of enterprise-wide procurement strategies also includes cost reduction through process improvement (Bernstein, Kok, 554, 555). The distributed order management process workflow specifically that links suppliers to companies purchasing their products relies in a high degree of pricing, product availability and data synchronization to function correctly. The use of MIS systems and processes together are automating
Information Systems Management What sorts of motivators, processes, and best practices should managers of virtual organizations adapt from the open source movement? Open source movement is a far reaching and wide ranging movement of persons who offer support and backing to the utilization of open source licenses for all software or just a number of them. The open software is made accessible for any individual to make use of or undertake modifications,
Future Development Trends The pervasiveness of the Internet and the increasing availability of development tools for creating analytics applications are together serving as the catalyst for the development of an entirely new set of predictive analytic and modeling applications where the performance of specific strategies can be simulated and planned for (Gounaris, Panigyrakis, Chatzipanagiotou, pp. 615, 616). Second, the development of collaborative platforms based on the Internet is also making the
Team members should communicate all relevant information to the Project Managers for the University of Arizona Medical Center and the CRM vendor chosen for the project. Issues and risks should be communicated in writing via the Issues/Risk Log or email to the Project Manager. If the issue/risk is urgent, immediate verbal communication of the issue/risk to the Project Manager is recommended. Once the issue is stabilized, written documentation will be developed