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Thursday, 20 September 2018

Components of the marketing Information System

There are four elements that constitute the marketing information system of any organisation like cad bury Nigeria PLC Guinness Nigeria PLC agency they are:

1. The internal accounting system: this is the system that supplies the executive with current activity and performance of the company. It supplies current and accurate data on sales, cost, cash flows, orders, accounts receivables account payables, creditors, deputies, inventories e.t.c. only relevant data are required.

2. Marketing intelligence system: this is the system that supplies data on every relevant new development in the environment especially the competitive environment. The system keeps the organisation fully informed about competing products, the price techniques of competitors their promotional tactics and method of distribution. Reading of trade journals, newspapers and magazines and listening to market news and means of keeping abreast of development within the industry. Salesman, distributors, advertising agencies and customers , ex-employees and current employees of competitors can give useful information.

3. Marketing research system: this system gathers, evaluate, and reports significant information needed by executive for decision making and problem solving. The scope of marketing research covers market research, media research, advert research e.t.c. Marketing research is done on project to project basis.

 4. marketing management science system: this is the system that is concerned with analysis of complex marketing problems and operations. Its critically analyse this the operation of the company, making use of other systems internal accounting, marketing intelligence, marketing research, and synthesizing them into a meaningful and useful relationship. The system considers some analytical models and finds means of improving and optimising the activity and performance of the organisation.