Marketing Information System As Tool For Decision Making In Marketing Management

Project and Seminar Material for Business Administration and Management BAM

Marketing Information System As Tool For Decision Making In Marketing Management


Abstract


In marketing information is view as a stronger element when compared with the product. This is because, it is information that gave rise to the product development. Information is thus necessary for an effective sales and repeat purchase. However, for any information to be credible and yield an effective result, it must thus pass through a system which is referred to as marketing information system. This study was undertaken to view marketing information system as a tool for decision making. The study adopted the descriptive method of analysis and developed few research hypotheses. These hypotheses were tested using the chi square statistical tool to find out the significant relationships.


Chapter One


Introduction

1.1 Background of the Study

In human society, they are many organic sections and they are goals oriented. These goal and objectives could be achieved through information.

A major consideration for marketing managers is the problem of getting information in such a way that organization achieves their goals. Heskett, J. L. (1977) put in this what “to manage a business well is to manage the future and to manages the future is to manage the information” in other words successful marketing strategies requires information potential target market and their likely response to marketing mix as well as competition and other marketing environment.

Philip Kotler (2002) define marketing information system as a continuing and interacting structure of people equipment and procedure designed together, sort, analyze, evaluate and distributed timely and accurate information for use by marketing decision makers to improve their marketing planning execution and control.

According to David Jobber (1998:144) marketing information system has been defined as the system in which marketing information is formally gathered, stored analyzed and distributed to the manager in accord with their information need in their regular planning basis, the systems is build upon the understanding of the information need of marketing management and suppliers that information when where and how the manager requires it, data are de rived from the marketing environment and transferred into information that marketing managers can use in their decision making, managers need information for implementation and control, without good information they are left to guess and in toady’s changing marketing that invite failure yet to you Seldom have all the information you need, both customers and competitors can by unreadable, getting more information may cost too much or take too long, for example, data in international marketing is often incomplete or difficult to obtain so the manager often must decide what information is really critical and how to get it.

The marketing manager of British tobacco should see on mis can help their decision marketing and these will make eager for more information also mis can improve all aspects of their planning further, they can compare result against plans and name necessary changes more quickly.

During the nineteenth century sellers where generally close to buyers and know their want first hand. The owner of a general store know his customers and their response the things.

A small manufacturer would personally visit prospective and correct customers and gather their reactions. Marketing information was picked up by being around people, observing the and asking them questions, hence organization wider their scope, the need for information to be systematically collected, analyze solve.


1.2 Statement of the Problem

In the long history of business enterprise, management has devoted most of its attention to managing money, materials, machine and men. Philip Kotler (1980:135) opined that although the need for marketing information grand geometrically and supply never seem sufficient, management has paid less attention to the fifth critical resources of the firm “information” it is hard for ford company “executive who are highly satisfied with their marketing information” their companies include;

  1. There is not among marketing information of the right kind
  2. There is too much marketing information of the wrong kind
  3. Marketing information is sometimes suppressed be subordinate when they belief it will reflect unfavorably on their performance
  4. Marketing information is also dispersed throughout the company that it takes a greats effort to locate simple fact
    Important information often arrive too late to be useful
  5. It is difficult to know whether the information is accurate.

The researcher therefore intends to examine critically the marketing information whether the right kind is not enough other wrong kind is too much of decision making.

Problem of marketing information is so dispersed throughout the company which takes a great effort to locate simple fact.

In effective and inefficient support of information on the part of subordinate timing and accuracy of marketing information decision making.


1.3 Objectives of the Study

A growing number of company that take a comprehensive look at the marketing information need of theirs executive and are beginning to develop a more formally marketing information system (MIS) to need the needs.

The specific objectives are as follows:

  1. To determine if accurate Marketing Information enables sound marketing decision by the management.
  2. To determine if the efficiency of marketing information system enables efficient marketing decisions by the management.
  3. To determine if reliable marketing information system facilitates returns to an organization.

1.4 Research Hypotheses

The study has formulated and developed the following hypotheses:

  1. H0: There is no significant relationship between accurate marketing information and sound management decision making.
    H1: There is a significant relationship between accurate marketing information and sound management decision making.
  2. H0: There is a significant relationship between efficiency of marketing information system and efficient marketing decisions by the management.
  3. H0: There is no significant relationship between reliable marketing information and enhanced sales in an organization.
    H1: There is a significant relationship between reliable marketing information and enhanced sales in an organization.

1.5 Scope and Limitation of the Study

The research work is to be carried out in EEMJM hotels and Suit, Uyo. Akwa Ibom State. Data obtained are to be used for the purpose of analytical process of the study as well as a presentation of fact concerning marketing information system as a tool for decision making with special reference to EEMJM hotel and suit Uyo Akwa Ibom State. Also the instrument for data collection will be questionnaire and personal interview.


1.6 Significance of the Study

The significance of the study is summarized as follows:

The research will be of interest to the employee and management of EEJM hotel and Suit Uyo when it is successfully implemented. The study will broader the researcher information system. It will be as a source of material references to other researcher in future. Other organization wishing to understand more about the important of marketing information system in marketing management making will find this work very useful.


1.7 History Background of the Case Study

EEMJM hotels and suits was formed on 11 March 2008. It is one of the high ranked hotel in Akwa Ibom State. The company is a private company approved by national Association of Hotels and tourism board. The company is an integrative process that will impact on some aspect of tourism like accommodations, catteries and swimming pools.

The company has only one branch at the moment which is located in Uyo Akwa Ibom State and was commissioned by Chief Godswill Akpabio. Since incorporation in 2008 the company has been on a heavy recruitment drive and has employed over two hundred people. In 2015 the company has paid over N13.8 billion in taxes to government. To ensure that the company is a responsible corporate organization, they have deployed an independently versed process known as social reporting process (SRP) which allows the company top engages their stockholders in continuous dialogue.

As the company demonstrates responsibility and excellent practice in all their operations in Nigerian, they look forward to the health and mutually beneficial business relationship with government and people of Nigeria.


1.8 Organization of the Study

The study is divided into five chapters. Chapter one deals with the study’s introduction and gives a background to the study. Chapter two reviews related and relevant literature. The chapter three gives the research methodology while the chapter four gives the study’s analysis and interpretation of data. The study concludes with chapter five which deals on the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusion and Recommendation

5.1 Introduction

It is important to reiterate that the objective of this study was to examine marketing information system as a tool for decision making in marketing management.

In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations are also made which clearly indicates the opinion of the researcher on the subject. However, the opinion of the researcher is based or solely influenced by the result of findings from the study.


5.2 Summary

Marketing information systems are part of the marketing wave of the future. They are important, and they are beginning to function very well. However, like any radical change imposed upon an organization, they can be very expensive and have great potential for damage. Hence, they must be used carefully and with a recognition of their potential for damage. The rewards of struggling with the many problems of developing a successful system are, however, well worthwhile.


5.3 Conclusion

There is ample evidence that marketing decision making is becoming more complex, making the need for a systematic approach to information management all the greater. First, there is a growing complexity of the areas that have to be managed, largely a function of the tendency toward larger scale enterprise. Second, as expanded marketing effort takes the firm across existing environmental frontiers, whether geographic, economic or social (or, more likely, all three), the information needs of the enterprise are substantially compounded. It is highly likely that the most crucial constraint currently imposed on the growth of international marketing, for example, is the dearth of pertinent decision information. But perhaps the most compelling argument for marketing information systems is the “Information Explosion” itself. The world’s store of knowledge has allegedly doubled during the past decade and is expected at least to double again in the next decade. Information, including management information, is growing by the microsecond and even nanosecond. We cannot turn off the flow. We had therefore better learn to control it—and we are already running late.


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