Management information system (MIS).
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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.
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