Marketing Information System

Abstract

Increasingly, business leaders are viewing market information not only as an input for making better decisions but also as an important strategic asset. Marketing Information may prove to a business's chief competitive advantage in many business sectors. Competitors can copy each other's products, processes, procedures, and technologies, but they cannot duplicate the marketing information and intellectual capital. Marketing Information System primarily serves the company's marketing and top level managers, but it may also provide information to external partners, such as suppliers, partners, distributors, or marketing services agencies. A good Marketing Information System balances the information users would like to have against what they really need and what is feasible to offer and the cost of obtaining. This chapter explains how a Marketing Information system can be developed in a business? What are the subsystems of a Marketing Information system and their functions?