Marketing information system

A marketing information system (MkIS) is a management information system (MIS) designed to support marketing decision making. Jobber (2007) defines it as a "system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis." In addition, the online business dictionary defines Marketing Information System (MkIS) as "a system that analyzes and assesses marketing information, gathered continuously from sources inside and outside an organization or a store." Furthermore, "an overall Marketing Information System can be defined as a set structure of procedures and methods for the regular, planned collection, analysis and presentation of information for use in making marketing decisions." (Kotler, at al, 2006)

Reid and Bojanic(2010) claimed that, " The term market research informs relatively narrower than Marketing Information System(MkIS) which is altered from the term management information system. Market research indicates that information is collected for a specific reason or project; the major objective is a one-time use. "

"A marketing information system, which continuously collects the initial, routine and systematic data, is not only used for one particular topic but is designed for monitoring the degree of the marketing success to ensure the achievable of the operation as well."

Developing a MkIS system is becoming extremely important as the strength of economies rely on services and to better understand the specific needs of customers. Kotler, et al. (2006) defined it more broadly as "people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers."

As our economy focuses on services, marketing is becoming extremely important to "monitor the marketing environment for changes in buyer behavior competition, technology, economic conditions, and government policies." In this sense, the role of marketing is becoming pivotal for an organization to "adapt to changes in the market environment." (Harmon, 2003)

Furthermore, as our economy relies heavily on the acquisition of knowledge, MkIS systems are necessary to be able to define and differentiate the value proposition that one organization provides with respect to another, as well as to define their competitive advantage. (Harmon, 2003)

The main benefit of MkIS systems is to integrate market-monitoring systems with strategy development and the strategic implementation of policies and processes that help capture and act on customer management applications with marketing decision support systems. This area constitute Marketing intelligence that supports the analysis and market based activities that support customer relations and customer service with real time information with real time applications that support market based approaches.

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