Multinational Marketing Information System
Introduction:
There are many business engaged in different line. And to be a multinational business owner or manager is like facing different challenges everyday. But what is multinational business is?
At the multi-national stage, the company is marketing its products and services in many countries around the world and wants to benefit from economies of scale.1
The multinational enterprise with its operating subsidiaries spread over the globe presents formidable problems to managers responsible for marketing control. Each national market is different from every other market. Distance and differences in language, custom, and practices create communications problems. The size of operations and number of country subsidiaries often results in the creation of an intermediate headquarters, the so-called regional or area headquarters, which adds an organizational level to the control system.2
The control system were created and called Marketing Information System. It is defined as a system in which marketing information is formally gathered, stored, analyzed and distributed to managers in accord with their informational needs on a regular basis. The system is created through an understanding of the information needs of marketing management. It is available to supply information when, where and how the manager requires it. The data is taken from the marketing environment and transferred into the information that marketing managers can use in their decision-making processes.3
Multinational Marketing Information System
The Marketing Information System’s objective is to realize the importance and role of creating and maintaining informational basics for business decision-making. The development starts in defining the marketing information system structure, and determining the data bases (internal and external) and computer applications. Next is problem solving in setting up marketing information systems at organizations. The determination of research objectives and anticipating market trends should be in prior.4
Diagram: Managing Marketing Information5
The Importance
The companies need information on their concern of customer needs, marketing environment and competition. Marketing managers do not need more information, they need better information.
A systematic understanding of product supply, demand, transportation alternatives and requirements, credit and other relevant data will, similarly, enable companies to increase market transparency and to develop better production and marketing strategies. Eventually, this may lead to improved cost-efficiency and thereby higher income.6
Through the use of Marketing Information System, the company can handle and understand the customer relationship management. The can answer problems inherent in the operation and can formulate decision to support the system. They can create ‘what if’ scenarios using decision support systems. And finally, use decision support systems to improve strategic, tactical and operational marketing decisions.7
A good Marketing Information Management (MIS) balances the information users like against what they really need and what is feasible to offer. Although sometimes the company cannot provide the needed information because, it is not available or due to MIS limitations.8
The Applications
The use of MIS had a big impact in the following:
v Customer relationship management
v Internal marketing
v Outbound and inbound logistics and distribution
v Production and operations/ value chain analysis and decisions
v Sales and sales management
v International marketing
v Customer service evaluation and benchmarking
v Pricing decisions
v Marketing communications decisions
v Product and service development
v Strategic marketing plans.
However it would be true to say of any information system or decision support system, that the end product is usually a decision about the future made in the present, often based largely on information about the past. This process by its very nature involves forecasting. Marketing information systems are focused more on structured decisions whereas supporting systems for less structured decisions are often referred to as decision support systems.9
Conclusion:
Gearing up for a new chapter in doing the business made easy when the company will acquire a process that will run through the bloodstream of the company. The Marketing Information System is an effective strategy to create new ideas and at the same times, solve demand problems. This system is entirely use for different kind of business, whether engaged in Domestic, International or Multinational.
The results always give two faces of possibilities: the advantage and disadvantage. In business playing, the company should be aware of what would be the next step to take. The forecasting of business’s life cycle can be predicted with accuracy if the coordination of the marketing strategy and the marketing demand are fitted. Companies always have the option to direct the market trends through different simulations and consumer’s needs pulsing. The marketing is considered as the life of a company thus, the managers should not stop detecting the “what’s in and what’s out” in the market.
Credit:ivythesis.typepad.com
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