Answered: Describe the steps of creating a…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Describe the steps of creating a marketing information system.

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Expert Solution

Step 1

A Marketing Information System of a company can be described as a system which interprets the information of the market efficiently. This is done by collecting and maintaining the data in the system and making it available for the decision making process to the management.

The MIS collects market information from varied sources outside the business and integrated and coordinated all the information which is generated. The MIS system generates insightful outputs form these market data which are utilized by the users of information in their decision making process.