Marketing Information System

1. Marketing Information System MIS consists of people, equipment, and procedures to gather, sort, analyze, evaluate and distribute needed, timely, and accurate information to marketing decision makers.

2. Why Market Information is Required? • Local to National to Global Marketing • From Buyer needs to buyer wants • From price to non price competition

3. Assessment of Information Needs Internal MIS Committee can interview marketing managers to discover their information needs: • What decisions do you regularly make? • What information do you regularly get? • What information do you need to make these decisions? • What special studies do you periodically request? • What information would you want daily? Weekly? Monthly? Yearly? • What magazines and trade reports would you like to see on a regular basis? • What topics would you like to be kept informed of? • What data analysis programs would you want? • What are the four most help improvements that could be made in the present marketing information system?

4. Components of MIS Internal Records System Marketing Information System Marketing Intelligence System Marketing Research System Marketing Decision Support System

5. Working of Marketing Information System

6. Order to Payment Cycle Customers favor shorter cycles. Computerized Warehouses, Electronic Data Interchange allow this. Sales Information System Information on prospect customers, current sales etc. It can be managed through Sales Force Automation Software. Internal Records System Provide internal data on orders, sales, prices, costs, inventory levels, receivables, payables, and so on. Result Data Internal Record System

7. Marketing Intelligence System Marketing Intelligence System is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment. Intermediaries Happening Data Purchase Competitor Product Sales Force Customer Advisory Panel Information Centres Purchase Information Sources of Information

8. 3. Marketing Research System Primary Source Secondary Source Internal Sources Suppliers of Research System Conduct Own Research Government Publication Hire Research Firm Periodicals & Books Commercial Data Marketing Research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

9. Marketing Research System Syndicated Service Research Firms (Firms gather information and sell it) Engaging Students or Professors To design and carry out projects Custom Marketing Research Firms (Firms are hired to carry Out specific project) Conducting Research Using the Internet Specialty-line Marketing Research Firms (These provide specialty Research services) Checking out rivals

10. Marketing Research Process

11. Step 1: Define the Problem and Research Objectives • Exploratory:Its goal is to shed light on the real nature of the problem and to suggest possible solutions or new ideas. • Descriptive:It seeks to ascertain certain magnitudes, relations between variables and analytical in nature. • Causal:Its purpose is to test a cause and effect relationship.

12. Step 2: Develop the Research Plan Data Sources Research Approach Contact Methods Research Instrument Sampling Plan

13. (i) Data Source • Primary Data: Data gathered for a specific purpose or for a specific research project. • Secondary Data: Data that were collected for another purpose and already exist some where. • This collected data can form the backbone of later marketing campaigns. • E.g. Customer or Prospect Database (collection of comprehensive data about individual customers, prospects, or suspects) can be used for lead generation, lead qualification, sale of product or service, or maintenance of customer relationships.

14. (ii) Research Approaches Focus-Group Research: • Gathering of 6 to 10 people • Spend a few hours with a skilled moderator to discuss marketing issues. Observational Research: • Data gathered by observing the relevant actors and settings. Survey: • Best suited for descriptive research. • To learn about people’s knowledge, beliefs, preferences, and satisfaction. • Measure these magnitude in the general population. Behavioral Data: • Customers leave traces of their purchasing behavior in store scanning data, catalog purchase records, and customer database. Much can be learned by analyzing this data. • Customer’s actual purchases reflect their preferences. Experiments: • Most Scientifically valid research • Capture cause and effect relationships

15. (iii) Research Instruments Instruments (primary data) Mechanical Instruments E.g. Galvanometer measure the interest or emotions aroused by exposure to a specific ad or picture. • Questionnaire • Consists of a set of questions presented to respondents for their answers. • Close Ended Question • Open Ended Question

16. A. Closed-end Questions Name Description Example Dichotomous A question with two possible answers. In arranging this trip, did you personally phone American? Yes No Multiple Choice A question with three or more answers. With whom are you traveling on this flight? No one Children only Spouse Business associates/friends/relatives Spouse and children An organized tour group Likert scale A statement with which the respondent shows the amount of agreement/ disagreement. Small airlines generally give better service than large ones. Strongly Disagree Neither agree Agree Strongly disagree nor disagree agree 1_____ 2 _____ 3_____ 4_____ 5_____ Questionnaire

17. (iv) Sampling Plan • Sampling Unit: Who is to be surveyed? • Sample Size: How many people should be surveyed? • Sampling Procedure: How should the respondents be chosen? • Probability Sampling / Random Sampling • Non-probability Sampling

18. (v) Contact Methods • Mail Questionnaire • Telephone Interview • Personal Interview • Intercept Interview • On-line Interview

19. Marketing Research Process • Step 3: Collect the Information • Step 4: Analyze the Information • Step 5: Present the Finding

20. Characteristics of Good Marketing Research • Scientific Method • Research Creativity • Multiple methods • Value and cost of Information • Ethical Marketing

21. Problems Barriers to Marketing Research Narrow Conception of Marketing Research Late and Occasionally Erroneous Findings by marketing research Uneven caliber of Marketing researchers Personality and Presentational differences

22. Marketing Decision Support System Marketing Decision Support System (MDSS) is a coordinated collection of data, system, tools and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.

23. Summary • In today’s competitive environment the organizations can not survive without information. • And so marketing information system evolved to collect, store, organize, interpret and utilize the required information for various purposes. • It involve people, equipments, procedures, hardware and software. • In MIS we collect information from internal sales record, external parties and through marketing research. • Through marketing research we can find out the information desired from the market by using different tools and techniques. • All data gathered from various resources is analyzed and interpreted to take decisions. • Marketing decision support system help in taking intelligent decisions by using the gathered data, statistical tools and other techniques • These decision are used by marketing manager to make new strategies for the products and organization.

24. Thank You !