Managing marketing information
to get customer insights
Define the marketing information system and its parts
Companies must establish effective marketing information systems that provide managers with the correct infor
mation, in the right format, at the right time, and assist them in using that information to increase customer value, en
gagement, and connections.
Marketing information system (MIS) refers to people and procedures dedicated
to assessing information needs, developing the needed information, and helping
decision-makers to use the information to generate and validate actionable customer
and market insights
Processes or components of marketing information system(MIS)
The marketing information system begins and ends with users—assessing their
information needs and then delivering information and insights that meet those needs
1. Assessing marketing information needs
A good MIS balances the information users would like to have against what they
really need and what is feasible to offer. The company begins by interviewing
managers to find out what information they would like. Too much information can be
as harmful as too little. The MIS must monitor the marketing environment to provide
decision-makers with the information they should have in order to better understand
customers and make key marketing decisions. The costs of obtaining, analyzing,
storing, and delivering information can mount quickly. The company must decide
whether the value of insights gained from additional information is worth the costs of
providing it, and both value and cost are often hard to assess
2. Developing marketing information
The problem isn’t finding information; in this “big data” age, the world is bursting
with information from a glut of sources. The real challenge is to find the right
information—from inside and outside sources—and turn it into customer insights.
Marketers can obtain the needed information from internal data, marketing
intelligence and marketing research.
to get customer insights
Define the marketing information system and its parts
Companies must establish effective marketing information systems that provide managers with the correct infor
mation, in the right format, at the right time, and assist them in using that information to increase customer value, en
gagement, and connections.
Marketing information system (MIS) refers to people and procedures dedicated
to assessing information needs, developing the needed information, and helping
decision-makers to use the information to generate and validate actionable customer
and market insights
Processes or components of marketing information system(MIS)
The marketing information system begins and ends with users—assessing their
information needs and then delivering information and insights that meet those needs
1. Assessing marketing information needs
A good MIS balances the information users would like to have against what they
really need and what is feasible to offer. The company begins by interviewing
managers to find out what information they would like. Too much information can be
as harmful as too little. The MIS must monitor the marketing environment to provide
decision-makers with the information they should have in order to better understand
customers and make key marketing decisions. The costs of obtaining, analyzing,
storing, and delivering information can mount quickly. The company must decide
whether the value of insights gained from additional information is worth the costs of
providing it, and both value and cost are often hard to assess
2. Developing marketing information
The problem isn’t finding information; in this “big data” age, the world is bursting
with information from a glut of sources. The real challenge is to find the right
information—from inside and outside sources—and turn it into customer insights.
Marketers can obtain the needed information from internal data, marketing
intelligence and marketing research.
