There is plenty of information around - but often too much of the wrong kind and not enough if the right kind.
Marketing Information systems
The Nature of Marketing
Marketing management is about finding ways of satisfying customer wants and needs, while achieving organizational objectives or requirements in terms of profit or some other measure of corporate performance. It brings together all customer-impinging resources, such as product design and specification, advertising and other forms of promotion, pricing policy, selling, channels of distribution and physical distribution to achieve this end. These customer-impinging resources are often summarized under four ...view middle of the document...
The kinds of complaints one often encounters are :
• There is too much information of the wrong kind.
• There is not enough information of the right kind.
• Information is too dispersed to be useful.
• Information arrives too late to be useful.
• Information often arrives in a form that leaves no idea of its accuracy and therefore lacks credibility.
Clearly, there is a need to overcome these kinds of problems and complaints and it is for this reason that marketing information systems have evolved.
Marketing Information Systems
The concept of marketing information systems has been around for many years. Early systems were paper-based systems but, with the emergence of computers with large storage capacities and later microcomputers with similar features, marketing information systems have become more "electronic" in nature. MIS (marketing information systems) can be classified under five headings:
• Planning systems - which provide information on sales, costs and competitive activity, together with any kind of information which is needed to formulate plans.
• Control systems - these provide continuous monitoring of marketing activities and enable marketing executives to identify problems and opportunities in the marketplace. At the same time, they permit a more detailed and comprehensive review of performance against plans.
• Marketing research systems - such systems allow executives to test decision rules and cause/effect hypotheses. This permits the assessment of the effects of marketing actions and encourages improved learning from experience.
• Monitoring systems - these systems provide management with information concerning the external environment in which they are operating.
One can define a marketing information system as one which scans and collects data from the environment, makes use of data from transactions and operations within the firm and then filters, organizes and selects data before presenting them as information to management.
Marketing Information Systems in the United Kingdom
Many firms in the UK are starting to develop computer-based marketing information systems. A survey by Martech Ltd  of UK firms found that, in the companies they surveyed, computerization had grown very rapidly over the previous two years with penetration increasing from 15 per cent to about 50 per cent - that is, 70 per cent of the systems mentioned in the survey had been implemented in the previous two years. Martech also noted that most of the growth had been concentrated on fragmented solutions to tackle a particular element of the marketing/sales function with a particular emphasis on salesforce productivity. Few companies had moved beyond the isolated productivity tool stage towards integrated marketing information systems covering customer service, account management, product management, forecasting, sales management, advertising and promotion, distribution, pricing, competitive tracking or marketing...