Marketing Information Systems
First, let us define what Marketing Research and Marketing Information Systems are. Marketing research is a method of business research, which studies consumer behaviour and its particular market. It pertains to the systematic identification, analysis, and disseminations of data, which will augment a firm to produce apt marketing strategies. Marketing research is divided into two integral parts namely business-to-business market research and consumer market research. The former concerns consumer market trends and the latter pertaining to businesses engaging in transactions.
On the other hand, marketing information system or MIS intends to integrate a myriad of substantial data in order to create an integrated and coherent marketing information tool. Marketing information system is not limited to primary data in order to augment managerial decision-making. From a managerial perspective, it would be appropriate to use the principles of marketing research. Marketing research is used by a majority of firms in order to create apt marketing strategies. Arguably, marketing research is the most reliable marketing tool in terms of creating new marketing strategies.
It makes use of substantial primary data, and from there will undergo a series of feasibility tests in order to finalize a marketing strategy for a firm to use in its operations. Furthermore, methods of marketing research meticulously studies consumer behaviour through directly interacting end-consumers in order to gather primary data and utilize them to study market trends in particular industry. Most marketing analysts reckon that the very concept of marketing research augments marketing information systems.
MIS utilizes first-hand information gathered through the keen procedure of marketing research. Marketing research is deemed the “old reliable” in creating marketing strategies. The conventional yet systematic approach of marketing research is what most marketing pundits consider an empirical approach in data collection. Substantial data is utilized, and is the linchpin for companies to create marketing strategies that would benefit the firm’s operations. With this in mind, the concept of marketing research would be more appropriate to use by B2B and B2C businesses such an electronics firm.