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What is a Marketing Information System? - Definition, Benefits & Example

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  • 0:00 Marketing Information…
  • 0:31 Benefits
  • 1:17 Examples
  • 2:27 Choosing an MkIS
  • 2:57 Lesson Summary
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Lesson Transcript
Instructor: Tara Schofield
Marketing information systems are important tools that help marketing managers and business owners make decisions about product development and promotional activities. In this lesson, you'll learn why they are important and look at some real-life ways companies use them.

Marketing Information System Defined

A marketing information system (MkIS) is a software program that provides information about marketing research. It allows users to compile and analyze data in a very easy, organized fashion. MkIS systems are also effective tools that help users make decisions about consumer behavior and the marketing mix, including products and how they are placed, priced, and promoted. The more sophisticated the management information system, the more information it can provide.

Benefits

If you are a marketing manager or business owner, finding effective ways to market your business is vital. Marketing information becomes even more important if you are part of a crowded market with many competitors, or you have a product that isn't well known. If you don't have good information, such as the data found in sales reports, you may end up wasting a lot of time and money on ineffective marketing activities. An investment in an MkIS system is an effective way to help you organize and prepare your marketing campaigns. One of the key benefits of an MkIS system is the insight it can provide about what your customers want and their perceptions of your products. Through your MkIS, you'll be able to make better decisions about consumer behavior and choices or product development.

Examples

Have you ever used a consumer loyalty card or scanned the little card on your car keys when you checked out at the grocery store? Each time you use your card, companies are compiling information for their MkIS systems. They are learning about the types of products you purchase, including sale items, and the items you purchase together. By combining your data with information collected from thousands of other consumers, the store develops a profile that reflects the purchasing habits of their customers. This type of information would be virtually impossible to gather manually. However, through the use of a marketing information system, the store is able to quickly and easily analyze the data from many different aspects.

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