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Information is like a life-blood of business. Quality of decisions depends on the right type of information. The right information implies the right quality, the right quantity, and the right timing of information. Circulation of needed information is as important as the circulation of blood in human being. Information keeps the organization actively functioning, alive, and connected with internal and external marketing participants. It is a valuable asset for a firm as it is a base to manage other valuable assets. The firm that fails to manage information (i.e., collecting, analyzing, interpreting, storing, and disseminating of information) will definitely fail to attain goals. Information is a basic input to know what is happening and what is going to happen. Besides this, information is also necessary to know strong and weak aspects of competitors and make distribution channel effective. In fact, whatever a manager does is done only with the help of information. He/she cannot take decision on any issue without information. So, marketing information system should be developed in business organization for taking rational and effective decisions. Marketing Information System (MKIS) is a permanent arrangement for provision of regular availability of relevant, reliable, adequate, and timely information for making marketing decisions. Above all Today’s market is dynamic and complex and manager has to take appropriate strategic, tactic and operational decisions to cope with the pace of changing marketing environment. An effective information system can entitle an organization with better planning, decision-making at all levels and hence desired results. The paper tries to throw a light on the role of Marketing Information System in effective decision making of marketing.
Keywords:
Marketing Information System (MKIS), Dynamic, Strategic, Tactic, Operational Decision making.
Cite Article:
"Marketing Information System (MKIS) A Need for Effective Marketing Decisions", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.7, Issue 8, page no.757 - 762, August-2022, Available :http://www.ijrti.org/papers/IJRTI2208129.pdf
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ISSN:
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator