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. Katyanis 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 lets 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, government sources, specialized agencies, so on.
MIS collects the marketing information from different sources. This information (data) is analysed. Then, it is supplied to the marketing managers. The marketing managers use this information for taking marketing decisions. MIS also evaluates and stores the information. MIS uses modern technology for collecting, analyzing, storing and supplying information.
Read more articles on Marketing Information System (MIS):
- Features of Marketing Information System MIS.
- Components of Marketing Information System MIS.
- Essential requisites of a good MIS.
- Distinguish Between MIS and Marketing Research (MR).
MIS gives many benefits to the company. The need for MIS is universally accepted. A company cannot survive and succeed without MIS. Therefore, all companies must have MIS. However, the same MIS cannot be used for all types of companies. Every company must make its own MIS. It must not copy the MIS of other companies.