Essay on Markets: Marketing Decisions

Submitted By tendaimugadza
Words: 406
Pages: 2

Marketing Information System (MIS) Definition Meaning Diagram Marketing Information System MIS Definition
1. According to Donald Cox and Robert Good,
“An MIS may be defined as a set of procedures and methods for the regular, planned collection, analysis, and presentation of information for use in making marketing decisions. This of course is a step beyond logistics systems, which handle inventory control, orders, and so forth.”
This definition of Marketing Information System (MIS) is referred from a 1937 classic paper titled “How to build a Marketing Information System,” written by Donald F. Cox and Robert E. Good.
2. According to Prof. Mudit Katyani,
“MIS is a planned tactic to do analysis of mainly three system requirements viz., people, information, and technology. It is required at all levels of management in executing operational, managerial, and strategic decisions. Its intention is to design the procedures which give a comprehensive report in a timely manner.”
Prof. Katyani’s definition of MIS gives a broad coverage of its overall concept.
The diagram of Marketing Information System, i.e. MIS is depicted below. Image credits © Prof. Mudit Katyani.
Now let’s proceed to discuss and understand the meaning of MIS. Meaning of MIS

Marketing Information System, abbreviated as MIS, means to collect, analyze and supply marketing information to the marketing managers. The marketing managers use this information to take marketing decisions. MIS is a permanent and continuous process.
Marketing information includes all facts, estimates, opinions, guidelines, policies and other data. This information is necessary for taking marketing decisions. This information is collected from both internal and external sources. It is collected from customers, competitors, company salesmen,