Marketing Information System
To perform their marketing responsibilities, marketing managers need excellent deal of information. "Information is power" is a legal statement. In spite of the importance and rising supply of information, managers frequently lack enough information of the right kind or have too much of the incorrect kind to make the crucial decisions necessary to be successful in our largely competitive global marketplace. Mostly marketing managers don't require more information, they require better information. To overcome these problems, various companies are taking steps to develop their marketing information systems. Commitment to an information system is not only a technological commitment but as well as a corporate culture commitment.
A well-designed marketing information system (MIS) firstly assesses information needs. The MIS next grows needed information (generally from marketing intelligence activities, marketing research, internal company data and information analysis process and sources). At last, the MIS distributes information to managers in the accurate form at the right time to help them take better marketing decisions. Once the system is in place and functioning, decision-making becomes better and easier. With efficient information systems few firms fail in the marketplace.