Marketing Information Systems (MkIS) (MR, unit 2)

Collects, organises & analyses marketing info.

Includes:

• details on consumers & markets
• sales – past, current & forecast
• production & marketing costs
• data on the operating environment (competitors, suppliers, distributors)

Important factors (SLP):

1. Speed of feedback – more accurate
2. Length of planning horizon - getting shorter and must be matched with quick response times in other areas e.g. EPOS
3. Planning – how to do is more important than planning what to do, how to respond in certain eventualities

Components of a MkIS (may not be directly related to marketing (IMMA))
1. Internal reporting system
2. Marketing intelligence system
3. Marketing research system
4. Analytical marketing system

1) Internal reporting system

Internal records provide invaluable insight into current activity & performance
Good marketing practice to build plan from understanding where we are now

Involves:

• Customer service data – service records, complaints, help-line calls
• Sales & marketing data – marketing leads & prospects, sales commission records, quotation system records, order entry systems, accounts receivable systems
• Inbound logistics – bids received, purchasing & accounts payable systems, raw materials & parts inventory
• Outbound logistics – finished goods inventory, warehouse inventory, shipping records
• Production & operations data – production schedules & delays, production costs, quality control records

2) Marketing intelligence system

Set of procedures & sources used by managers to obtain everyday info. about important developments in the marketing environment

Collects external: industry reports, competitor marketing material & competitor quotes
Scans the environment in 4 ways:

1. Undirected viewing – general exposure to info with no specific purpose
2. Conditional viewing – directed exposure
3. Informal search – unstructured effort
4. Formal search – deliberate effort (plan & methodology to obtain specific info.)

3) Marketing research system

Uses market research techniques to get information that minimises guesswork in decision making e.g. info. on new product concepts or attitudes to marketing communications messages

4) Analytical marketing system

Analytical techniques that enable marketers to make use of the other 3 systems

Could be simple financial projections of sales patterns or more complex statistical models e.g. price sensitivity analysis