1. INTERNAL INFORMATION SUBSYSTEM/ INTERNAL REPORTING SYSTEMS
it provides current information captured in corporate records regarding market data on production, costs, orders, shipments, payments, sales and so on. It is formed in a company in a form of user-oriented system of intelligence.
All enterprises which have been in operation for any period of time nave a wealth of information. However, this information often remains under-utilised because it is compartmentalized, either in the form of an individual entrepreneur or in the functional departments of larger businesses. That is, information is usually categorized according to its nature so that there are, for example, financial, production, manpower, marketing, stockholding and logistical data, accounting systems- sales records, customer records, inventory records etc. Information is usually categorized according to its nature so that there are, for example, financial, production, manpower, marketing, stockholding and logistical data.
2. MARKETING INTELLIGENCE SYSTEM
A set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment. I.E. A marketing intelligence system is a set of procedures and data sources used by marketing managers to sift information from the environment that they can use in their decision making.
Marketing intelligence is viewed in its totality as a continuing and interacting structure of people, equipment, and procedures to gather, sort, analyze and distribute pertinent, timely and accurate information for use by marketing decision makers to improve their marketing planning, implementation and control.
It provides information on developments in external corporate environment. It is a main source used by managers for gaining daily information of the external environment, hence assists the managers to react to the changing rapidly.
Purpose : The goal of marketing intelligence system is to improve strategic decision making, track competitors, provide early warning of opportunities and threats
Sources of information : Marketing intelligence is the responsibility of senior managers within an organization . It involves them in scanning newspaper trade magazines, business journals and reports, economic forecasts and other media. In addition it involves management in talking to producers, suppliers and customers, as well as to competitors. Nonetheless, it is a largely informal process of observing and conversing.
Some firms approach marketing intelligence gathering in a more deliberate/formal fashion and will train its sales force, after-sales personnel and district/area managers to take cognisance of competitors' actions, customer complaints and requests and distributor problems. Some organizations encourage intermediaries, such as collectors, retailers, traders and other middlemen to be proactive in conveying market intelligence back to them.
3. ANALYTICAL MARKETING INFORMATION SYSTEMS OR MARKETING MODELS.
Marketing Decision Support System (MDSS) is a set of core applications in the MkIS that provides computer-based tools, models, and techniques to support the marketing decision making process .It is composed of advanced statistical procedures and models to evaluation of rigorous findings on information obtained in the first three subsystems. Decision Support Systems is an interactive computer-based system designed to help in decision-making situations by utilizing data and models to solve unstructured problems.
MDSS is a set of core applications in the MkIS that provides computer-based tools, models, and techniques to support the marketing decision making process
These are also known as DSS (decision support systems) and include analysis techniques or tools such as multi-variate analysis, correlational models, regression analysis, linear programming, elasticity models, factor analysis, Analysis of Variance (ANOVA) models, Sensitivity analysis, Time series analysis , database systems etc that keep in gathering analyzing and interpreting information to facilitate decision-making.
They allow manipulation of data to explore the what if situations and enhance decision making. These and similar mathematical, statistical, econometric and financial models are the analytical subsystem of the MKIS.
4. MARKETING RESEARCH SYSTEM
The systematic design collection/gathering analysis and reporting of data and findings relevant to specific marketing situation facing the organization .i.e. systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation .Marketing market research is a purposeful collection of information that is important for addressing and data completion of a particular marketing problem of the company. An aim of the market research and its segments is a creation of information and cognitive assumptions to predict future market development, especially its demand needs, but also offer in relation to the business plan.
Formal studies of specific situations E.g. market potential, market share studies, customer satisfaction and purchasing behavior, study of pricing, product, distribution, and promotion activities. An enterprise which commissions these studies does so to solve a perceived marketing problem. In many cases, data is collected in a purposeful way to address a well-defined problem (or a problem which can be defined and solved within the course of the study). The other form of marketing research centers not around a specific marketing problem but is an attempt to continuously monitor the marketing environment. However market research is the gathering, analyzing and interpretation of data/information about markets i.e. gathering, analyzing and interpreting information about individuals and organizations for decision-making by marketing managers.
Lellah answered the question on November 5, 2021 at 05:37