The information as well as information system could be understood in terms of the quality and quantity they possess. However, it is necessary to realize that the quantity and quality of information needed at various levels of management differs. Thus it is important to give emphasis not only to generation, storage and retrieval of the relevant information to fill in the existing gaps but attention should also be paid to elimination of irrelevant data.
The value of information could be ascertained by the following:
(i) Accessibility: This refers to the ease and speed with which the particular information could be gathered. Faster and easier availability will have more value as compared to slow and difficult access.
(ii) Comprehensiveness: More complete the information, the more valuable it becomes. This refers to the usefulness of information.
(iii) Accuracy: The information if free from any error will have more value than otherwise.
(iv) Timeliness: It takes certain time to generate the information and the value of the information depends very much on how timely it is made available to the user manager.
(v) Authenticity: If the information is being generated form a formal information system it is authentic and could be measurable.
(vi) Free from Bias: The information if free from any bias towards the pre-conceived conclusion will have more value than otherwise.
MARKETING INFORMATION SYSTEM DESIGN:
It is necessary to understand why particular information is needed by any organization or a system. It is also necessary for the research designer to have the knowledge of the information source, and how the system works. The required knowledge could be acquired by providing answer to the following questions:
What is the source of information?
To be handled by humans?
To be handled by mechanically?
To be handled electronically?
STEPS IN MANAGEMENT INFORMATION SYSTEM DESIGN:
(i) Define the system: The design for the system to be made has to be defined in terms of its elements, the relationships and its boundaries with the complete organization consisting of all functions or only one or several functions.
(ii) Source and frequency identification: Once the information needs have been estimated, the source of the information both external and internal and the frequency of reporting need to be identified could be based on the occurrence of the event or by exception.
(iii) Formats of Management Information System: There are two formats which are very important, viz.
a) Research assessment sheet
b) Marketing activity evaluation sheet
Marketing decisions, parameters, frequency, source and the format code are the main components of research assessment sheet. The marketing activity assessment sheet contains the items like relationship, standard and actual, variance and reason there for. The research assessment format is useful from the information point of view while the second format could be used for control purposes.
(iv) Implementation: The steps needed for implementing the newly designed Marketing Information System could be:
a) Prepare marketing research plan
b) Train the research staff
c) Prepare operating schedule,
d) Evaluate and modify the research system.
ROLE AND IMPORTANCE OF MANAGEMENT INFORMATION SYSTEM:
Role, characteristics and goals of an efficient Information Management System in an organization can be summarized in the following statements: Information primarily set to facilitate marketing decisions and control. Marketing communication is relevant to diverse needs of management at different levels. Flexible in information system must include future requirements of marketing managers on need basis.
Marketing information helps an organization renew itself with the current and future competition, diversification and/or expansion strategic plans because marketing managers are engrossed in finding solutions to ever increasing operational problems.
The value of information could be ascertained by the following:
(i) Accessibility: This refers to the ease and speed with which the particular information could be gathered. Faster and easier availability will have more value as compared to slow and difficult access.
(ii) Comprehensiveness: More complete the information, the more valuable it becomes. This refers to the usefulness of information.
(iii) Accuracy: The information if free from any error will have more value than otherwise.
(iv) Timeliness: It takes certain time to generate the information and the value of the information depends very much on how timely it is made available to the user manager.
(v) Authenticity: If the information is being generated form a formal information system it is authentic and could be measurable.
(vi) Free from Bias: The information if free from any bias towards the pre-conceived conclusion will have more value than otherwise.
MARKETING INFORMATION SYSTEM DESIGN:
It is necessary to understand why particular information is needed by any organization or a system. It is also necessary for the research designer to have the knowledge of the information source, and how the system works. The required knowledge could be acquired by providing answer to the following questions:
What is the source of information?
To be handled by humans?
To be handled by mechanically?
To be handled electronically?
STEPS IN MANAGEMENT INFORMATION SYSTEM DESIGN:
(i) Define the system: The design for the system to be made has to be defined in terms of its elements, the relationships and its boundaries with the complete organization consisting of all functions or only one or several functions.
(ii) Source and frequency identification: Once the information needs have been estimated, the source of the information both external and internal and the frequency of reporting need to be identified could be based on the occurrence of the event or by exception.
(iii) Formats of Management Information System: There are two formats which are very important, viz.
a) Research assessment sheet
b) Marketing activity evaluation sheet
Marketing decisions, parameters, frequency, source and the format code are the main components of research assessment sheet. The marketing activity assessment sheet contains the items like relationship, standard and actual, variance and reason there for. The research assessment format is useful from the information point of view while the second format could be used for control purposes.
(iv) Implementation: The steps needed for implementing the newly designed Marketing Information System could be:
a) Prepare marketing research plan
b) Train the research staff
c) Prepare operating schedule,
d) Evaluate and modify the research system.
ROLE AND IMPORTANCE OF MANAGEMENT INFORMATION SYSTEM:
Role, characteristics and goals of an efficient Information Management System in an organization can be summarized in the following statements: Information primarily set to facilitate marketing decisions and control. Marketing communication is relevant to diverse needs of management at different levels. Flexible in information system must include future requirements of marketing managers on need basis.
Marketing information helps an organization renew itself with the current and future competition, diversification and/or expansion strategic plans because marketing managers are engrossed in finding solutions to ever increasing operational problems.
No comments:
Post a Comment