• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11

Management information system (MIS).

Extracts from this document...


Introduction Management information system or MIS is important for marketers because it provides information which will assists these people in analyzing, planning and implementing and controlling over their job which requires them to do so. This information is being provided by appropriate issues namely information systems and technology, forecasting, financial analysis and tools and marketing research.1 Everyone has their very own expertise in doing their job. A marketer is well known to be able to market out products to customers or accountants are supposed to take control of all the accounts in a firm or company. So many may think that a marketer do not have to have knowledge on accounting because there are always accountants available to do the job. But, however a research shows that not all people are being provided enough information that they needed from say, accountants. 2 Thus, a person needs to be well equipped with all sorts of knowledge rather than depending on others to provide information. Why not they themselves learn how to use modern technology to collect and manipulate up to date internal and external information both to measure the effectiveness of current marketing plans, and to examine different variables as a basis for future strategy? With enough knowledge gained, one may not have to be too dependent on others and true work will be more progressive. Management information system [MIS] is the combination of human and computer based resources that results in the collection, storage, retrieval, communication and use of data for the purpose of efficient management of operations and for business planning.3 On this assignment, an analysis of the understanding and importance of management information for marketing decisions will be discussed. It will further provide an analysis of different aspects that are necessary for making proper and accurate marketing decisions. It will provide an overview of MIS and its related aspects, marketing information system, decision making information, information forecasts, financial information and marketing, etc. ...read more.


Output- It transfers the processed information to the people or activities where it will be used. Below are the three levels of decision making in which information plays a large role in it. . They are 1] strategic, 2] tactical and 3] operational. Strategic decision making involves decision relating to product, product life cycle, product development and etc. meanwhile, tactical decisions includes settings short term prices, discounts, promotional campaigns, advertising, distributions, product service level, customer service, packaging and etc. Operational decision includes principle, competitor tracking, customer research, sales and marketing budgets and sub- budgets e.g. promotion/ advertising.12 Marketing Information System [MkIS] Marketing information system will enable a manager in making swift and well judged decisions. It consists of four components namely 1] internal reporting system, 2] marketing intelligence system 3] marketing research system and4] analytical marketing system. 1] Internal reporting system: In which it utilizes internal records of the company 2] Marketing intelligence system: In which it collects and stores everyday information about the external environment information such as industry reports, competitor's marketing materials and competitor's quotes. It enables a company to obtain a more accurate profile of the external environment. 3] Marketing research system: It uses primary marketing techniques to gather, evaluate and report findings. 4] Analytical marketing system: In which this system provides the tools to undertake complex analysis of the information gained in either parts of the MkIS system as to provide solutions to business problem. Information technology Information technology is the combination of communication and computer technology that has led to the development of information technology. It is possible to transmit and receive vast amounts of data globally because of its super sped in producing wanted information. An information technology development makes it possible by transforming the way in which markets, organizations and managers work. The traditional organizational structures and roles are being overwhelmed by the advancement of new technology. ...read more.


It enables more than 35 million people working in science, education, government and business organizations use the Internet to exchange information or perform business transactions with other organizations around the globe.16 Source; Leah Nathans Spiro and Linda Himelstein, "With the World Wide Web, Who Needs Wall Street?" Business Week, April 29, 1996. The changing management process Information technology is recasting the process of management, providing powerful new capabilities to help managers strategize and plan, organize, lead and control. For instance, it is now possible for managers to obtain information on organizational performance down to the level of specific transactions from just about anywhere in the organization at any time.17 Information technology has opened up new possibilities for leading. By distributing information through electronic networks, the new manager can effectively communicate frequently with thousands of employees and even mange far-flung task forces and teams- tasks which would be impossible in face-face traditional organizations. New options for organizational design Information systems can become powerful instruments for making organizations more competitive and efficient. Information technology can be used to redesign and reshape organizations, transforming their structure, scope of operations, reporting and control mechanisms, work practices, work flows, products and services.18 Conclusion Information systems are very important today because of the kinds of systems built today. The overall performances of the organization, especially in todays highly globalize and information based economy made it popular among businesses. Information systems are driving both daily operations and organizational strategy. Computers and networks have enable organizations to become more flexible, eliminate layers of management, separate work from location, and restructure work flows, giving new powers to both line workers and management. Meanwhile, Internet has redefined organizational boundaries, opening new opportunities for electronic markets and electronic commerce. Marketing and sales impact on all areas of an organization's operations and therefore it is only right and proper to have basic knowledge in terms of getting information for the purposes of decision making process. With management information system, managers will be able to possess information to enable them to analyze, plan, make decisions, implement and control. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. Develop my understanding regarding the production of accounts and their use for business decision ...

    We have decided that there will be bar tables around the wall, depending on the size of the bar. 19. We are going to fill just above 10% of our stock with pre-packed sandwiches and the rest will be self-selected by the customers.

  2. Microsoft Corporate Profile and Organizational Structure Overview

    According to the Washington Alliance of Technology Workers (WashTech), Microsoft still employs more than 3,000 contingent staffers in its domestic workforce who are the cogs in Microsoft's software machine. Because the company wants to make the distinction between temps and full-time employees clear to the IRS and possible class action

  1. A Brief History of Information Technology

    They envisaged a computerized society in which homogeneous communities would be networked to their counterparts and to the centre. The two-way flow of information would achieve agreement and compromise involving ever larger communities and increasingly long-range views. The idealistic views of Nora and Minc seem unrealistic from today's viewpoint.

  2. Apple Incorporation - Case Analysis

    Threat of Substitute Products: Substitute products are readily available so this threat is very high. Competitors work to convince their customers that their product is superior to its competitors. The more differentiation of product the less likely the switch to a substitute will occur.


    Tesco has an online shopping system which enables the customers who are unable or less able to come to the shop floor do their home shopping from Internet. The staff has been trained concerning disability issues and customer service is aware of the customer's requirements at the shop floor.


    It is responsible for receiving and interpreting signals from the peripheral nervous system and also sends out signals to it, either consciously or unconsciously. This information highway called the nervous system consists of many nerve cells, also known as neurons.

  1. Business Aims and Objectives.

    The administration department also organises the maintenance of a firm's building and other resources. This may include decorating the inside and outside f buildings and maintaining machinery. Cleaners may be employed directly by the company or subcontracted from a specialist cleaning company.

  2. Starting a new business - marketing

    (American Marketing Association (1960), taken from 'Marketing principles and practice' edition three, 1998). Market research is conducted by companies in order to succeed. It is important for two main reasons: * To find out what the customers or potential customers for the business want in terms of product, price, promotion and place.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work