INFORMATION MANAGEMENT

Timely information improves the quality of the decision-making process, While reducing uncertainly and the risk associated with decisions making. Research enables organizations to implement the marketing concepts.

Marketing information system is an organization sector of procedures and methods by which pertinent, timely and accurate information is continually decision- makers.

Internal regards system: This is the most basic information system, managers make decisions after making a review of the various internal reports.The analysis of the sales, receivables, payable and so on helps immensely to spot opportunity and threat.

Marketing intelligences system: Managers use set of procedures and sources to obtain everyday information about pertinent development in the environment.Important information can be gathered from sales force, suppliers- distributors, outside research firm or own marketing center.

Marketing research: It starts with a  opportunity and a formal study is conducted.Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing a company.Managers should understand the role of research in decision making.It cannot be over stands that marketing aid to decision making and not a substitute for it.Even the most carefully conducted research project can be fraught with pitfalls.

Marketing information systems consists of people , equipment, and procedures to gather, sort, analyze,evaluate, and distribute needed, timely and accurate information to making decision makers.