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Have you heard about an Information System for Marketing? Most of us may have not actually heard about it. But certainly, Marketing Information Systems exists and has been in existence for quite sometime. In fact, a marketing information system has been widely used by majority of multinational companies all over the world.
So, what is a Marketing Information System all about? Is it in any way related to Management Information System? How close is a Marketing Information System to a Management Information System? Are the elements the same as Management Information System?
A marketing information system just like a management information system is a composition of several elements that perform altogether to achieve a business goal. It comprises of the computer system and its peripherals to perform the process, the group of people who receive the output, and the processes involved such as analysis, sorting, gathering, and storing to ensure safety of the processed information. However, looking into detail, the elements of a marketing information system dwells far more compared to a management information system. The Marketing Information System works deeper by incorporating some other sub-elements, notable of which are environment that affects the marketing such as the external competitors, the political situation that may directly impact the company, the legal aspects that delimits the marketing actions, the economic issues that affect the country, thus affecting the present condition of the organization, and the technological aspect which needs to be addresses by the organization. Another sub-element that impacts the whole marketing information system is the decision making aspect that revolves on strategic, control, and operational decisions.