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In the developed world, mobile phones are something that we take for granted. The biggest purpose of a cell phone is to entertain its owner. Cell phones are used by people to connect with their loved ones, play games and log on to the social media. This is the reason why people in developed countries […]
Managing Technology in Operations Management
Introduction In last decade or so technology has changed the way organization conduct their business. Advent of technology in operation management has increased productivity of the organization. Technology and Operations Management The scope of Technology and operation management has evolved over a period of time and has moved from development of products into design, management […]
Asset Management and Budgetary Control
One of the major financial functions is the management of fixed assets. Asset management module primarily maintains asset register, which provides information about asset related transactions. Asset Management thus helps in keeping track of fixed assets, handling fixed asset depreciation for fiscal reporting and revaluation of asset. Budgetary control (BC) module is another important finance […]
How will the Sino American Trade War End?
The trade war between China and America seems to be getting worse every day. When negotiations between Trump and Xi Jinping were happening, the entire world was waiting with bated breath. A stalemate seemed like the most likely outcome, and that seemed to be the best result that all the concerned parties could have hoped […]
The Link between the Drug War and Immigration
The Current Situation: Donald Trumps administration had signed in a draconian law. This law made it necessary for immigration officers to deport adults who were illegally entering the United States. However, the children who were detained in the United States were to be kept in detention centers built specifically for the purpose. The end result […]
The role of information technology and systems is to improve productivity of organization. Information systems are deployed across functional department of organization.
In broader terms, marketing is defined as a process through which organizations are able to deliver products and services as per the need of the customers. Organizations conduct market research to identify needs and requirement of customers.
The marketing process ensures the following:
The market environment directly impacts the function and working of an organization. The 3 categories of market environment are internal environment, micro environment and macro environment. Organizations develop strategies as to be successful in all three environments.
The culture and environment of organizations play an important role in delivering value to customers. Internal customers of organization are the ones which contribute in delivering the final products. Organization needs to look at strategies to motivate internal organization to satisfy external customers.
Internal customers, suppliers, etc. combine to make the micro-environment of an organization. Organization to deliver a good final product needs to develop and maintain strong relationship with vendors and external agencies. Therefore, it is important for organization to maintain continuous analysis of ever-changing micro-environment.
The macro-environment of an organization consists of government policies, global economic condition, and political stability. Organization does not have direct control or say in the macro-environment.
The marketing cycle is closely associated with the product life cycle. The marketing life cycle is divided into development stage, introduction stage, growth stage, maturity stage and decline stage.
Companies deploy different marketing strategies during each stage of marketing life cycle. These strategies are closely associated with revenue generation from product sales.
An information system which captures, stores, analyzes and distributes marketing information to facilitate the decision-making process is called marketing information system.
The source of marketing information comes through internal records and external records. The internal record includes day to day production data as well as product sales data. Internal data helps manager track marketing impact on the different product mix.
External data is market performance of a competitor also plays important in the decision-making process. Company's sales force is a huge data source. Therefore, it is essential for system to capture their market intelligence input.
The data collected through external or internal market research agencies plays an important to provide a holistic market view to the managers.
An information system captures information from all the different sources. The information is analyzed and then distributed to managers for decision-making process.
Marketing information systems advantages is as follows:
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Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
February 12, 2025
