Chief marketing officer (CMO)

A marketing information system can be beneficial for multiple types of marketing decisions, such as:

• Control decisions: Middle-level marketing manager decisions related to corrective actions based on deviation from strategic plans implemented by higher-level marketing managers

• Operational decisions: Decisions related to the day-to-day activities of marketing professionals, especially related to accomplishing specific tasks

• Strategic decisions: High-level marketing manager decisions about matters that affect the entire organization, such as organizational policies, objectives and structure

Read more: A Definitive Guide to Marketing Information Management

Types of data in a marketing information system

Marketing information systems handle different types from multiple sources. The common types of data in a data marketing system are:

Acquired databases

Databases often store large amounts of marketing and sales data and customer information, and some companies may purchase access to these databases for little to no cost. Businesses may enter the data they purchase into their marketing information system to help them make better, more informed decisions. For example, there are companies that specialize in gathering data related to business trends and consumer behavior and business trends and generating reports to sell. Similarly, companies may purchase information from government databases to learn about the demographic or economic information of companies, groups or specific individuals.

Internal company data

Marketing information systems allow you to turn internal company data into valuable insights. For example, you may input data related to marketing activities or sales to generate reports. Also, you may integrate your marketing information system with an internal company communications network or intranet to gather information about certain employees, departments or business units.

Marketing intelligence

Marketing information systems allow you to gain insights from the marketing intelligence data you gather about your target market. For example, explore options to gather marketing intelligence data from your competitors' websites or industry trade publications. You may also explore options that are less automated and more manual, such as talking with distributors, making observations, attending trade shows or testing products.

Marketing research

Marketing information systems allow you to integrate the marketing research and data you gather from custom and syndicated research reports and primary or secondary research. It's important to find as much specific and unique information as possible, especially regarding your customers, competitors and overall business environment. This will help you gain more valuable insights to make better decisions.

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Created on Jul 17th 2022 06:02. Viewed 245 times.

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