Need\Importance of a Marketing Information System:
The need for marketing information can be understood by the following points:
1. Marketing activity is becoming more complex and broader in scope. To cope up with it we require current information and the future information.
2. there is a shortening of time span allotted to an executive for decision making. Executive want ready made processed information to take the decision and it is only possible by a system of marketing information.
3. Scarcity of resources have led the effective and efficient utilization of resources and marketing information systems helps here a lot by providing upto date information to the executives.
4. the information explosion has led to develop a system which can process store and retrieve the information whenever required.
5. there is a great need of framing modifying and altering the programs and policies of the firm and marketing information system helps here by making available the required information at the right time.
In spite of these seemingly negative characteristics informal information plays a major role in people's decisions. Decision makers can not escape informal information and it is likely ti continue as part of input into decisions as long as human beings are making choices.