According to Philip Kotler, “Marketing Information System (MIS) consists of people, equipments and procedures to gather, sort, analyse, evaluate and distribute needed, timely and accurate information to marketing decision makers.”
COMPONENTS OF MIS
a) Internal Company Records
Internal company records consist of the data, which is available within the company.
b) Marketing Intelligence System
Marketing intelligence system supplies external data to the firm. Philip Kotler defines a marketing intelligence system as “A set of procedures and sources used by managers to obtain their everyday information about pertinent developments in the marketing environment”.
c) Marketing Research
Philip Kotler defines Marketing research as “A systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company
d) Marketing Decision Support System
A decision support system is a procedure that allows a manager to interact with data and methods of analysis; to gather, analyse and interpret information.