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marketing information system advantages and disadvantages

by Guest10058805  |  5 years, 4 month(s) ago

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marketing information system advantages and disadvantages

 Tags: advantages, Disadvantages, information, marketing, System

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  1. Guest20073058
    disadvantages of marketing information system

  2. Fareeha
    In order to make good marketing decisions, marketing managers require high quality information about the market. It is not sufficient to rely on hearsay or hunches. Poor information never led to a successful marketing decision except by sheer chance. There are numerous methods of marketing research ranging from educated guesswork to hard facts. You need to be aware of the assumptions and limitations in order to know when to use a particular one and how to interpret and apply the information generated. The marketing research process is only one of the sources of information for the MIS. It is worth remembering that it is all the sources of information which contribute to the MIS which help us understand our customer's needs and wants; that information does not come just from our marketing research activities. The MIS is part of the larger information system in an organisation ¾ the management information system. The distinction between the MIS and management information system is important. The management information system focuses on information relevant to all aspects of an organisation's operation: for example, personnel records, payroll data, financial ratios, financial investment analyses, inventory records, sales and market data, market share, buying trends, and so on. The MIS focuses on only the marketing aspects of the management information system. After all, an MIS has to meet the needs of its customers (users) and, to do that, those needs must first be assessed. identifying what information managers would LIKE to have identifying the information they actually NEED identifying what information it is FEASIBLE to offer them. The advantages of MIS are as follows: 1. Handles both internal and external data 2. Is concerned with preventing as well as solving problems. 3. Operates continuously ¾ is a system. 4. Tends to be future-oriented. 5. Is a computer-based process. 6. Includes other subsystems besides marketing research.

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