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Monday, 17 September 2018

The Four Major Sub Systems of Marketing Information System

1. Internal records system : This has to do with the current data on sales, prices, inventory, cash flows, profitability comma accounts receivable, accounts payable, another switch our generated from the firm. This items of information can easily be computerized.

2. Marketing design support system : this consists of a set of advanced management techniques used for analysing data and marketing problems. The major sets of tools applicable here are :

i. This is a collection of advance statistical procedure for understanding the relationship that exist between or among a set of data and their statistical reliability. Examples of these tools and regression analysis, correlation analysis and factor analysis.

ii. The modal bank full stop this is a collection of models that can help marketers to develop and implement better decisions in the key areas of their company's marketing mix. Examples of these models are product design model, pricing model, site selection model, media mix model, an advertising budget model.

3. Marketing intelligence system : this is the set of sources and procedures through which marketing managers obtain their everyday information about the development taking place outside their company. It enables marketing managers to maintain surveillance over their marketing environment so that they can be alert and combative. Marketers can obtain intelligence report or information by reading reports, journals, books, other companies broadcast, talking to customers, suppliers, distributors, other managers within the same company, sales men and staff of rival companies that is competitors, among others.

4. Marketing research system : this involves the commissioning and systematic collection of information on specific matters for the purpose of solving some specific marketing problems facing a company. Sometimes, the company may lack the expertise, time and knowledge to carry out its own marketing research, in which case it may have to employ the services of outside consultants.