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Components of a Modern Marketing Information System
Transcript of Components of a Modern Marketing Information System
These records provide current information about sales, costs, inventories, cash flows and account receivable and payable.
It collects information from external sources. It provides information about current marketing-environment and changing conditions in the market. This information can be easily gathered from external sources like; magazines, trade journals, commercial press, so on.
MR is conducted to solve specific marketing problems of the company. It collects data about the problem. This data is tabulated, analyzed and conclusions are drawn. Then the recommendations are given for solving the problem.
Marketing Decision Support System
These are the tools which help the marketing managers to analyze data and to take better marketing decisions. They include hardware, i.e. computer and software programs. Computer helps the marketing manager to analyze the marketing information.