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We are all aware of how critical marketing is to our businesses and to the economy as a whole. But how many of us manage to stay up to date with the latest developments in the field? While it is true that not much has changed in the marketing profession and that it continues to remain the second oldest profession in the world – a title which cannot be taken away from it! But of late, another revolution has been taking over the marketing field. And this revolution goes by the name of a marketing information system.
Over the years, a marketing information system has been known by several identities. A marketing information system has been called an enterprise resource planning system, it has been known as a manufacturing positioning system and in some circles it has also been referred to as the profit increasing system. Whatever the name it is known by, a marketing information system does the same thing. It streamlines the marketing process, provides information that enhances the results and even promotes the brand value of the company.
A basic marketing information system helps the owners of the company (assuming they are the people who buy and deploy it!) do several things. First and foremost, an effective marketing information system helps them plan their marketing activities. This is the most critical stage of marketing and unless the plan is the right one, there can be no hope of gaining any leverage. Next, a good marketing information system helps business owners organize and coordinate their marketing activities. This too is a critical activity and unless the organization and coordination activities are conducted in a professional manner then the marketing initiatives will go haywire. And finally, one of the hallmarks of a good marketing information system is its ability to enable the business owners to decide on the strategy and to control the dissemination of the strategic direction.
Especially in the Internet age, marketing information systems have become especially crucial to better performance of companies. How the management of any given company handles its marketing information is no longer dependent on the capabilities of the personnel at hand, but more on the capabilities of the chosen marketing information system that the company has bought, tested and deployed. Once the system is in place, it does not mean that all decisions are automatic. The marketing information systems available nowadays are capable of intuitively understanding the business requirements and being able to adapt to the changing market and trade scenarios.
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