25 Questions
What are the components of a Marketing Information System (MKIS) according to Phillip Kotler?
Marketing control system, marketing intelligence system, marketing decision support system
What is the primary function of a marketing information system (MKIS)?
To gather, analyze and distribute timely and accurate information for marketing decisions
Which component of the Marketing Information System (MKIS) focuses on monitoring and evaluating the marketing performance of a company?
Marketing control system
What role does the Marketing Decision Support System (DSS) play in a company's marketing strategy?
It provides insights and data analysis to support marketing decisions
Which component of the Marketing Information System (MKIS) focuses on collecting and storing data related to sales and customer interactions?
Marketing planning system
Which component of the Marketing Information System (MKIS) is responsible for gathering information about the external environment of a company?
Marketing research system
What is the main function of the Marketing Control System component in a Marketing Information System (MKIS)?
Monitor and evaluate marketing performance
In a Marketing Information System (MKIS), what is the primary role of the Marketing Decision Support System (DSS)?
Facilitate decision-making processes
Which function is NOT typically associated with the Marketing Planning System component in a Marketing Information System (MKIS)?
Maintaining internal records
What distinguishes the Marketing Research System from the other components of a Marketing Information System (MKIS)?
Gathering information from the external environment
Marketing managers rely on external data collected by a company about a specific market.
False
The heart of the internal record system is the payment-to-order cycle.
False
Marketing intelligence is the first set of data that a company analyzes before making any investment decision.
False
Customers send orders to the firms in the order-to-payment cycle.
True
Marketing managers rely on internal reports related to marketing performance and customer interactions.
False
Marketing managers rely on internal reports related to customer orders, sales, price levels, and inventory levels.
True
The heart of the internal record system is the payment-to-order cycle.
False
Marketing intelligence is solely based on internal data collected by a company about a specific market.
False
The internal record system primarily focuses on sales and customer interactions.
False
Marketing managers analyze marketing intelligence after making investment decisions.
False
Marketing managers rely on external data collected by a company about a specific market.
False
The heart of the internal record system is the payment-to-order cycle.
False
Marketing intelligence is solely based on internal data collected by a company about a specific market.
False
Customers send orders to the firms in the order-to-payment cycle.
True
Marketing managers rely on internal reports related to marketing performance and customer interactions.
False
Study Notes
Marketing Information System (MKIS)
- A MKIS consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to support marketing decisions.
Components of MKIS
- Marketing control system
- Marketing intelligence system
- Marketing planning system (internal record system)
- Marketing research system
- Marketing decision support system (DSS)
Internal Reports and Marketing Intelligence
- Internal reports provide data on customer orders, sales, price levels, cost, inventory levels, receivables, and payables.
- The heart of the internal record system is the order-to-payment cycle, where customers send orders to firms.
- Marketing intelligence refers to external data collected by a company about a specific market it wishes to enter, to inform investment decisions.
- It is the first set of data analyzed by the company before making any investment decision.
Test your knowledge on the components of a Marketing Information System, including the Marketing Control System, Marketing Planning System, Marketing Research System, and Marketing Decision Support System as defined by Phillip Kotler.
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