Components of the Marketing Information System are:
- Internal Records
- Marketing Intelligence System
- Marketing Research
- Decision Support System (DSS)
- Marketing Data Warehouse
1.) Internal Records:
These records provide data from within the organization, such as sales data, inventory levels, customer feedback, and financial information. Internal records help track the performance of marketing activities and assist in operational decision-making.
2.) Marketing Intelligence System:
This component involves gathering external data that helps the company understand market conditions, competitors, and customer behavior. It includes information from sources such as industry reports, competitor analysis, news, and surveys.
3.) Marketing Research:
Marketing research involves gathering data specifically designed for solving a particular marketing problem or opportunity. It involves structured methods like surveys, focus groups, interviews, and experiments to gather primary data.
4.) Decision Support System (DSS):
A Decision Support System (DSS) helps analyze the data collected from various sources to make informed marketing decisions. It helps in forecasting demand, determining pricing strategies, analyzing profitability, and measuring marketing campaign effectiveness.
5.) Marketing Data Warehouse:
A marketing data warehouse is a central repository where marketing data from multiple sources is stored, managed, and accessed. It organizes large amounts of data for easy retrieval and analysis.
