A marketing information system ( MkiS ) consists of people, equipment and procedures to gather, SWOT analyse, evaluate and distribute needed, timely and accurate information to marketing decision makers .
Why do we need market information?
- To take better decisions.
- To measure demand forecast more accurately.
- To be ahead in the market.
- To avoid customer defection.
- To have better market share.
- To craft better marketing mix and product mix.
The Marketing Intelligence System
A Marketing Intelligence System is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment.