Tech Talk: Marketing Information Systems in a technological age

For my tech topic, I chose to research Marketing Information Systems.  I chose this topic because it involves MIS but ties in my marketing interest.  I think oftentimes people see the creative side of marketing and only think of branding and advertising.  Through my Tech Talk, I want to show people the importance of technological systems regarding marketing. This topic is extremely relevant because as technology advances, other industries will have to adapt and understand how these systems work to remain competitive. In marketing, the ability to analyze data, turn it into information, which then becomes knowledge that helps when it comes to making important decisions.

In a nutshell, marketing information systems are the framework used to access, process, and manage data. The presentation of data from said systems is extremely important as it must be useful when making marketing-related decisions. For a brief overview of Marketing Information Systems take a look at the video below (B2Bwhiteboard, 2012)!

Though marketing information systems and management information systems share the acronym ‘MIS’ they both describe different systems. The term ‘MkIS’ can be used to help differentiate marketing systems from management systems.

Many researchers have stated that they believe having smaller subsystems such as one for marketing can provide more detail which will help it be used operationally.

The most important aspect of a marketing system is that the information presented can be used to make marketing decisions. Marketing information systems can help store large amounts of data and information that can be accessed when marketing decisions need to be made. Some of these marketing decisions include promotion, packaging, pricing, and media ().

There are four main components of marketing information systems; internal records, marketing intelligence system, marketing decision support system, and marketing research.  The component most people associate with marketing is marketing research. 

Internal Records: Internal records are information that a company gathers from itself.  This can include sales data, financial data, and customer information. Gathering internal records is usually inexpensive as it is data that is usually already compiled for other purposes and that does not have to be searched for externally.

Marketing Intelligence System: Marketing Intelligence Systems provide data from different things happening in the market.  This is data regarding external marketing such as market trends, competitor’s strategies, and consumer preferences. To optimize their marketing intelligence system companies should create relationships with channel partners who can provide relevant data about competitors and customers. Companies can also use government data such as population trends and data on demographics.

Marketing Decision Support System: The marketing decision support system includes software that helps marketers analyze collected data. Software allows marketers to utilize statistical programs that help analyze data and find patterns.  These patterns within the data help marketers make knowledge-based decisions. Some examples of software used by marketers are R Statistical Computing, Tableau, and SPSS.

Marketing Research: After collection, both primary and secondary data companies must then analyze and interpret it to find solutions or insight on marketing issues they may be having. The analysis and interpretation of this data are what falls under the marketing research component.

Although the interpretations of marketing information systems vary, the definitions generally involve the analysis and presentation of data so that it can be used regarding marketing decision making. When it comes to marketing it is important to be well versed in marketing information systems as it will help with making justified decisions that will benefit the company. As technology advances,  systems will have increased importance in all aspects of a businesses’ functions.

List of References

1. B2Bwhiteboard, director. What Is a Marketing Information System?, B2Bwhiteboard, 1 Jan. 2012, www.youtube.com/watch?v=8bU6tsscv9c.
2. “Marketing Information System: Introduction, Importance, Components and Advantages.” Economics Discussion, 10 July 2019, www.economicsdiscussion.net/marketing-2/marketing-information-system-introduction-importance-components-and-advantages/31600.
3. Sharma, Sunil, et al. “What Is Marketing Information System? Definition and Meaning.” Business Jargons, 13 June 2016, businessjargons.com/marketing-information-system.html.