Podcast
Questions and Answers
What are the components of a Marketing Information System (MKIS) according to Phillip Kotler?
What are the components of a Marketing Information System (MKIS) according to Phillip Kotler?
What is the primary function of a marketing information system (MKIS)?
What is the primary function of a marketing information system (MKIS)?
Which component of the Marketing Information System (MKIS) focuses on monitoring and evaluating the marketing performance of a company?
Which component of the Marketing Information System (MKIS) focuses on monitoring and evaluating the marketing performance of a company?
What role does the Marketing Decision Support System (DSS) play in a company's marketing strategy?
What role does the Marketing Decision Support System (DSS) play in a company's marketing strategy?
Signup and view all the answers
Which component of the Marketing Information System (MKIS) focuses on collecting and storing data related to sales and customer interactions?
Which component of the Marketing Information System (MKIS) focuses on collecting and storing data related to sales and customer interactions?
Signup and view all the answers
Which component of the Marketing Information System (MKIS) is responsible for gathering information about the external environment of a company?
Which component of the Marketing Information System (MKIS) is responsible for gathering information about the external environment of a company?
Signup and view all the answers
What is the main function of the Marketing Control System component in a Marketing Information System (MKIS)?
What is the main function of the Marketing Control System component in a Marketing Information System (MKIS)?
Signup and view all the answers
In a Marketing Information System (MKIS), what is the primary role of the Marketing Decision Support System (DSS)?
In a Marketing Information System (MKIS), what is the primary role of the Marketing Decision Support System (DSS)?
Signup and view all the answers
Which function is NOT typically associated with the Marketing Planning System component in a Marketing Information System (MKIS)?
Which function is NOT typically associated with the Marketing Planning System component in a Marketing Information System (MKIS)?
Signup and view all the answers
What distinguishes the Marketing Research System from the other components of a Marketing Information System (MKIS)?
What distinguishes the Marketing Research System from the other components of a Marketing Information System (MKIS)?
Signup and view all the answers
Marketing managers rely on external data collected by a company about a specific market.
Marketing managers rely on external data collected by a company about a specific market.
Signup and view all the answers
The heart of the internal record system is the payment-to-order cycle.
The heart of the internal record system is the payment-to-order cycle.
Signup and view all the answers
Marketing intelligence is the first set of data that a company analyzes before making any investment decision.
Marketing intelligence is the first set of data that a company analyzes before making any investment decision.
Signup and view all the answers
Customers send orders to the firms in the order-to-payment cycle.
Customers send orders to the firms in the order-to-payment cycle.
Signup and view all the answers
Marketing managers rely on internal reports related to marketing performance and customer interactions.
Marketing managers rely on internal reports related to marketing performance and customer interactions.
Signup and view all the answers
Marketing managers rely on internal reports related to customer orders, sales, price levels, and inventory levels.
Marketing managers rely on internal reports related to customer orders, sales, price levels, and inventory levels.
Signup and view all the answers
The heart of the internal record system is the payment-to-order cycle.
The heart of the internal record system is the payment-to-order cycle.
Signup and view all the answers
Marketing intelligence is solely based on internal data collected by a company about a specific market.
Marketing intelligence is solely based on internal data collected by a company about a specific market.
Signup and view all the answers
The internal record system primarily focuses on sales and customer interactions.
The internal record system primarily focuses on sales and customer interactions.
Signup and view all the answers
Marketing managers analyze marketing intelligence after making investment decisions.
Marketing managers analyze marketing intelligence after making investment decisions.
Signup and view all the answers
Marketing managers rely on external data collected by a company about a specific market.
Marketing managers rely on external data collected by a company about a specific market.
Signup and view all the answers
The heart of the internal record system is the payment-to-order cycle.
The heart of the internal record system is the payment-to-order cycle.
Signup and view all the answers
Marketing intelligence is solely based on internal data collected by a company about a specific market.
Marketing intelligence is solely based on internal data collected by a company about a specific market.
Signup and view all the answers
Customers send orders to the firms in the order-to-payment cycle.
Customers send orders to the firms in the order-to-payment cycle.
Signup and view all the answers
Marketing managers rely on internal reports related to marketing performance and customer interactions.
Marketing managers rely on internal reports related to marketing performance and customer interactions.
Signup and view all the answers
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.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
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.
