Marketing Information Systems (the other MIS)…REALLY…
Will the realMIS please step forward…Who or What is Marketing Information Systems?
Advantages & Benefits for Clients
We think of Marketing Information Systems as a set of procedures and methods for regular, planned collection, analysis, and summation of data used to make marketing decisions and set priorities as well as budgets. Although MIS almost always involves computer use, one is not always necessary. What is required is the planned, orderly, and continuous collection, analysis, and presentation of the correct information for marketing decisions. Thus, though unlikely to be the source, a library with its reference sources or an employee armed with a file cabinet can be the considered a marketing information system.
dear to: YOU, The concept of an MIS can be all marketers–not merely by large firms such as Proctor & Gamble or American Airlines, but also by a local physician medical practice or even a small grocery store or restaurant.
The purpose of MIS is to reduce guesswork when setting budgets and priorities. These may sound like the same comments that could be made about marketing research, but the two are not synonymous. In fact, MIS and marketing research differ in a number of ways.
First, marketing research generally focuses on one problem or opportunity at a time, and information is collected for the purpose of addressing that issue.
By contrast, an MIS approach continuously collects and stores data that may be relevant to a variety of considerations.
Perhaps more important, the MIS provides information that can alert marketers to possible future problems. In this sense, MIS functions both as crisis preventer and a problem solver. (Note: American Express, routinely updating the record of over 450 facts per card member is an MIS. The company’s one-time study of what consumers imagined American Express cards would say to them if they could talk is market research.)
Another difference between marketing research and MIS arises from how data is collected. Data from marketing research usually comes from external sources while the MIS relies more heavily on data generated within the firm (e.g. VIP program members, sales, customer profiles, etc.). Market Research is; however, an important component of MIS – along with three others; namely, Internal Records; Marketing Intelligence; and Marketing Decision Support System.
Now, let’s get back to the electronic era of marketing analysis.
The following are traditional components of a computerized MIS:
By now you are wondering what any of this has to do with your business activity or marketing? Well, while your systems may lack the wiz-bang briefly detailed above, there are a number of ways to have a MIS without first getting your doctorate in marketing strategy or analysis– regardless of your business or its size. In fact, many options today are efficient and simple for anyone to use and apply.
We value monitoring and analyzing activities because we know it not only shapes better outcomes – it likewise improves your returns on your marketing investment.
IF the whole thing was planned and managed properly… THAT’s effective MARKETING and COMMUNICATIONS Ascendant Advertising and Communications Agency style.
ThinkAboutIT.sm Then consult with us to fully understand how to apply professional, successful, and transactional content marketing and promotional marketing with business savvy.
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