BUSİNESS INFORMATİON SYSTEMS

This chapter begins with a definition of Marketing Information Systems (MKIS) and then addresses the differences among Marketing Research and MKIS terms.

Recurrent information is information that is provided on a periodic basis from periodic reports. Market or customer shares, advertisement watch rates, product or service ratings, price fluctuations, exchange rates, customer complains on product basis are some examples of this kind of information that managers receive on a weekly, monthly, quarterly or annual basis.

Communication mix information: This includes past data on the effects of advertising campaigns, sponsorships, direct mail programmes or exhibitions, levels of investments on marketing communications and the effect on sales of increases or decreases. Such information can act as a guide to the likely effectiveness of future communication investment plans.

Table 5.1 World’s Top Marketing Research Companies, 2017

Data collecting stage is about gathering problem specific data. This stage has two important decision aspects: sample design and data collection forms. Sample design provides a description of the population to be studied and how it will be defined.

With the rise of social media, cloud computing, Internet of Things (IoT), mobile devices, RFID, GPS and, undeniably, computing power, these information flood is referred as big data. Consequently, this new term revolutionary transformed both MKIS and the ways companies operate.

The first step in transform data into a competitive advantage is understanding the difference between data (recorded facts, things, events and statistics), information (formatted, useful data extracted from data pool), knowledge (internalized information) and insight (a deep level of understanding about a particular situation).

Customer Relationship Management, CRM, means different things to different people. For some, CRM means direct e-mails. For others, it is mass customization or developing products that fit individual customer’s needs. For IT consultants, CRM translates into complicated technical jargon related to terms such as OLAP (on-line analytical processing) and CICs (customer interaction centers). A brief and comprehensive definition of CRM is defined as

“A systematic process to manage customer relationship initiation, maintenance, and termination across all customer contact points in order to maximize the value of the relationship”.

In this connected World, the cars tweet the parking spaces that they spotted via Tweet Fleets. Automatically tweeting empty car spaces with geo-tagging helps the other Mercedes drivers following the car find out where the empty spaces are, and get directions as well.

The term of Marketing Information Systems (MKIS) is originated in the 1960s for applying data processing technologies to marketing-specific decisions.

Philip Kotler is acknowledged as the father of modern marketing and a foremost expert on strategic marketing. He was named the Founder of Modern Marketing Management in the Handbook of Management Thinking.

A quick reminder of the management process: 1. Planning 2. Organization 3. Implementation- Execution 4. Coordination 5. Control and evaluation

Recurrent information is information that is provided on a periodic basis from periodic reports. Market or customer shares, advertisement watch rates, product or service ratings, price fluctuations, exchange rates, customer complains on product basis are some examples of this kind of information that managers receive on a weekly, monthly, quarterly or annual basis.

Communication mix information: This includes past data on the effects of advertising campaigns, sponsorships, direct mail programmes or exhibitions, levels of investments on marketing communications and the effect on sales of increases or decreases. Such information can act as a guide to the likely effectiveness of future communication investment plans.

Defining the marketing problem is the first and crucial step of a marketing research. If the research problem is defined incorrectly, very broadly or rather narrowly, rest of the marketing research process will rely on incorrectly, improperly defined problem.

Massive data files that can be obtained from both structured and unstructured databases.

there are some shortcomings of using external data for decision making purposes such as; 1. The necessary data may not be available, or it may need some transformations. 2. The integration with existing company data sources or information systems may be problematic.3. Importing data can be time-consuming. 4. It may be hard to ensure data compatibility. 5. It may require manual work-flow and data processing. 6. It may be difficult to validate data formats

data (recorded facts, things, events and statistics), information (formatted, useful data extracted from data pool), knowledge (internalized information) and insight (a deep level of understanding about a particular situation).

Customer Relationship Management, CRM, means different things to different people. For some, CRM means direct e-mails. For others, it is mass customization or developing products that fit individual customer’s needs.