Posted: May 25th, 2022
Computer Information Systems
Marketing Information Systems serve as a hub of competitive, market, pricing an product-related information in addition to supporting tactical strategies and campaigns and strategic plans. The use of Marketing Information Systems coordinate new product introductions with other departments, monitor the success of the launched product and keep other departments informed, and also devise plans and strategies for sustaining and increasing sales illustrate the many benefits these systems provide. Underscoring all these functional, process- and strategy-driven areas is the need for ensuring the voice of the customer is heard throughout any organization often and with clarity, to ensure strategies and plans stay on course (Coussement, Van den Poel, 164). The intent of this paper is to discuss the dominant functional areas of a Marketing Information System and also comment on its future trends.
Dominant Functions of a Marketing Information System
The dominant users of Marketing Information Systems are marketing managers, product managers, marketing analysts, market research analysts, industry research professionals, and senior management. In addition, sales management will also often rely on these systems to measure how effective their sales strategies are in achieving sales objectives (Daniel, Wilson, McDonald, p. 825).
The most complex of these Marketing Information Systems include in-depth knowledge management applications, including geo-economic modeling (Hess, Rubin, West Jr., et.al.), in conjunction with an increasingly larger amount of analytics applications that are used for creating dashboards and reports used by senior management, marketing management and sales (Le Bon, Merunka, p. 400). These systems are predominantly designed to align with the planning, executing, evaluating and control of campaigns and strategies to ensure the highest level of performance attainment and measurement is completed. As a result of the heavy focus on marketing effectiveness, often these systems are designed as data warehouses of the information sales professionals contribute about competitors, market conditions, forecasts, and potential new product ideas based on customer discussions. An effective Marketing Information System is actually an enterprise-wide knowledge management system that has been designed to support business process workflows from the strategic to the tactical level.
Future Development Trends
The pervasiveness of the Internet and the increasing availability of development tools for creating analytics applications are together serving as the catalyst for the development of an entirely new set of predictive analytic and modeling applications where the performance of specific strategies can be simulated and planned for (Gounaris, Panigyrakis, Chatzipanagiotou, pp. 615, 616). Second, the development of collaborative platforms based on the Internet is also making the data collection function of Marketing Information Systems much more streamlined that has been the case in the past.
Marketing Information Systems are transforming the accuracy and speed that companies’ marketing, sales and senior management can react to market conditions effectively. The growth of these systems is in direct proportion to the increasing speed and uncertainty new markets and market conditions influence company’s plans and results.
Kristof Coussement, Dirk Van den Poel. “Integrating the voice of customers through call center emails into a decision support system for churn prediction. ” Information & Management 45.3 (2008) 164. ABI/INFORM Global. ProQuest. 29 Apr. 2008. www.proquest.com
Elizabeth Daniel, Hugh Wilson, Malcolm McDonald. “Towards a map of marketing information systems: An inductive study. ” European Journal of Marketing 37.5/6 (2003): 821-847. ABI/INFORM Global. ProQuest. 29 Apr. 2008 www.proquest.com.
Spiros P. Gounaris, George G. Panigyrakis, Kalliopi C. Chatzipanagiotou. “Measuring the effectiveness of marketing information systems:an empirically validated instrument. ” Marketing Intelligence & Planning 25.6 (2007): 612-631. ABI/INFORM Global. ProQuest. 29 Apr. 2008. www.proquest.com
Ronald L. Hess, Ronald S. Rubin, Lawrence a West Jr. “Geographic information systems as a marketing information system technology. ” Decision Support Systems 38.2 (2004): 197-212. ABI/INFORM Global. ProQuest. 27 Apr. 2008. www.proquest.com
Joel Le Bon, Dwight Merunka. “The impact of individual and managerial factors on salespeople’s contribution to marketing intelligence activities. ” International Journal of Research in Marketing 23.4 (2006): 395-408. ABI/INFORM Global. ProQuest. 28 Apr. 2008. www.proquest.com.
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