What role does a Marketing Information System (MIS) and market research play in a company’s promotion decision making process? Specifically, how do the concepts relate to advertising, personal selling and sales promotion decision made by an organization?
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Marketing Information System (M.I.S) is a term that refers to the technology tools and infrastructure an organization has in place that assist in making informed marketing decisions. Such marketing tools and infrastructure may include but are not limited to:
- CRM system ( Customer Resource Management)
- Email marketing software
- Customer contact database
- Complex analytics software and tools
- Various industry specific methodologies and techniques
Combined with solid market research, a marketing information system allows marketing managers the ability to discern what resources need to be allocated to various promotional efforts. For example through solid market research a manger can determine the demographic most likely to purchase a particular product. A good marketing information system will then be able to breakdown and segment the raw data from the market research. This processed data can then be used to allocate the best available resources needed for advertising, personal selling and other sales promotion efforts.
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