MIS Essay Example | Topics and Well Written Essays - 1250 words

MIS - Essay Example In United States there are more than 500 academic institutions who currently utilize this program. Players generally use Markstrat for making appropriate decisions related to areas of finance, research and development, and marketing. Markstrat helps to analyze market related data and then delivers required results. MIS or Marketing Information System is a strategic approach which is utilized to analyze current market scenario and predict outcomes. This approach can be stated as a management tool that is used not only by students but also by corporate. All market related data is greatly utilized for framing marketing strategies and gaining competitive advantage. MIS is a tool for executing marketing decision making. It supports marketing manager by making tasks simpler and easier. Market related data are of various types but this approach helps to gather this data efficiently. In overall context, analysis of such data facilitates formulation of best possible strategy (Piercy, 2009). There are four interfaces which are highlighted by marketing information system. These interfaces are application software, user interface, system support and database marketing. It can be stated that marketing information system serves as an integration tool. For any strategic decision making it is important to int egrate all forms of collected data. Real world information is integrated with real time application through marketing information system. MIS is responsible for integrating marketing monitoring mechanisms with strategic development. The basic components of MIS can be classified into four categories such as internal records, marketing intelligence, marketing research and marketing decision support system. Internal records means providing internal information about a firm. Marketing intelligence is related to collecting all forms of information mainly from external sources. On the other hand, marketing research