Marketing information includes all the data, in term of facts, opinions, views, guideline and policy. Which are necessary to make vital marketing decision. The data is collected from customers, competitors, company sales-force and other staff, government sources, specialized agencies and sources.


Nature of MIS

“ a marketing information system consists of people, equipment and procedures to gather, sort, analyse, evaluate and distribute needed, timely and accurate 
information to marketing decision makers.” (Philip Kotler)


Feature

1.  systematic process
MIS is a systematic process of collecting and maintaining a record of marketing information. The MIS process consists of
  •        Gathering marketing information
  •        Sorting / classification of data
  •        Analyzing marketing data
  •        Transmitting the data to marketing decision maker. 

2.  professional approach
There is need to adopt professional approach toward MIS. The MIS data must be collected, classified, anlysed, and transmitted systematically to the

marketing managers to take appropriate marketing decision in respect of product design, pricing, promotion, etc. therefore a company must.
  •        Select the right staff
  •        Train the MIS staff to collect and analyse the data properly.
  •       Motivate the staff so that the staff work with commitment and dedication. 

3.  continuous in nature
The MIS activity is continuous in nature. There is constant need to collect relevant marketing data relating to the environment as competitors strategies, government policies, customer requirement, changes in international environment, etc.


4.  use of latest technology
MIS makes use of latest technique as sophisticated computers, micro-films etc. the sophisticated tools and technique enable the MIS staff to collect, store and process meaningful information, which can be transmitted to marketing manager to make effective decision.


5.  cost- effective information
There is no sense in collecting whatever information that is available in the market. MIS facilitates the collection of only relevant information. Efforts are made to collect not only relevant data but also cost effective. The benefits which the MIS bring to the organization must be more than the cost incurred on it.


6.  decision making
MIS aids in decision making relating to various element of marketing mix. As product-designing, pricing, promotion and distribution. By making available timely information, which is relevant and reliable, MIS aids marketing managers to take effective decision to achieve objective of the marketing department and that of the organization.


7.  Ensure regular supply of information

There is a constant continuous need to make marketing decision. This is because of the constant and continuous changes in the business environment. To make effective decision MIS ensure regular supply of information.


8.  Future oriented
To manage the business well, marketing manager should be future oriented. MIS should be in a position to provide information to solve problem that may crop up in future. More emphasis must be placed on future oriented information rather than past oriented information.