ROLE OF MARKETING INFORMATION SYSTEM IN ENHANCING SALES
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ROLE OF MARKETING INFORMATION SYSTEM IN ENHANCING SALES
ABSTRACT
A marketing information system (MIS) is a systematic process for collecting raw data on a regular basis, both internally and externally, and converting that data into information for marketing decisions.
In other words, MIS is a framework of people, equipment, and procedures designed to collect, classify, analyse, evaluate, and transmit necessary, timely, and correct information for marketing decision making.
In order to make crucial marketing decisions, (MIS) must monitor the marketing environment and supply decision makers with the information they need. MIS delivers information to managers in the correct format and at the right time, assisting them with marketing planning, implementation, and control.
Marketing Information Systems can play essential roles in assessing information needs, creating information, and distributing information in order to improve a company’s overall level of sales. Marketing Information Systems are important for managing day-to-day operations and planning for the most efficient use of personnel and money.
Finally, in today’s fast changing world, managers must more accurate and up-to-date information to make prompt decisions. Most companies nowadays are dealing with a decline in sales.
This is the condition that prompted the researcher to do research in order to determine the functions that the marketing information system could play in increasing sales at Ideal Flour Mills Ltd, Kaduna, as a case study. It was also intended to highlight how the system had failed.
The research is conducted in order to be of great assistance and importance to any firm that want to embark on a marketing information system in order to develop a well-rooted organisation through sales growth.
Therefore, the researcher would strive to improve the marketing information system associated to Ideal Flour Mills Ltd, Kaduna. The company’s and other existing companies’ sales levels are expected to improve significantly as a result of this research.
Chapter One: Introduction
1.0 Background of the Study
Marketing Managers require fast and reliable information on customers, competitors, dealers, and other market forces while conducting marketing analysis, evaluation, and distribution.
Marion Herper puts it this way: “to manage a business well is to manage its future and to manage the future is to manage information” . (As quoted by Philip Kolter Gary Armstrong in An Introduction to Marketing).
During the last century, most businesses were tiny and knew their clients firsthand; managers learned about marketing by observing and questioning individuals.
In this century, various factors have increased the demand for more and better information management. As businesses expand into national and international marketplaces, they require more information about larger and more distant markets.
As incomes rise and customers grow more choosy, managers require more information about how customers react to various offerings. Marketing managers require information regarding the efficiency of their marketing tools. In today’s quickly changing contexts, managers must considerably more up-to-date information to make informed decisions.
The Marketing Information System (MIS) begins and concludes with marketing managers assessing their information needs and developing the necessary information from internal company records,
marketing intelligence operations, and marketing research processes. Furthermore, the marketing information system provides managers with accurate and timely information to aid in marketing planning, implementation, and management.
A strong marketing information system balances the information managers would want to have against what they actually need and what is realistic to supply. Sometimes MIS is unable to provide all of the information requested by managers.
MIS must therefore monitor the marketing environment and provide decision-makers with the information they require to make crucial marketing decisions.
Furthermore, generating information is necessary for making day-to-day planning, implementation, and control decisions. The development of information is divided into three (3) categories: internal records (reports), marketing intelligence, and market research.
Most companies nowadays are dealing with a decline in sales. As a result, the marketing information system for Ideal Flour Mills Ltd, Kaduna, is meant to increase overall sales in the company and other current enterprises in the country.
1.1 Statement of the Problem
The primary cause of the drop in sales levels in most Nigerian organisations is a lack of marketing information systems. This scenario prompted the researcher to do research to determine ways to improve the quality of the marketing information system and the roles that the marketing information system may play in increasing sales at Ideal Flour Mills Ltd, Kaduna. The issue to be addressed here is how sales could be maintained using the MIS.
1.2 Historical Background of Ideal Flour Mills
LTD KADUNA.
Ideal Flour Mills Ltd., Kaduna, was founded as a private firm in 1979 with 60% Nigerian equity participation in accordance with the Nigerian Enterprises Promotion Decree of 1997. It has a normal and paid-up share capital of N320,000,000.
The company is situated on Plot B Kaduna Industrial Layout, near the Kaduna Bye Pass, just opposite Nasarawa Village in Kaduna State.
On Tuesday, October 1982, the factory’s first phase was commissioned. It could produce 300 metric tonnes of wheat flour per day.
At the time of its creation, the company’s products included Doki flour in 50kg sizes, Doki semolina in 10kg sizes, and the Doki fine brand in 50kg sizes. Before being released for sale, both raw materials and final goods undergo rigorous quality control in its advanced laboratory.
With wheat imports restricted in 1986, the company quickly changed one of its production lines from wheat to maize milling at a rate of 200m/tonnes per day.
The extension’s products include maize grits, maize flour, maizoline, and excellent brand. However, the experiment with local wheat, despite the little quantity, was highly successful and provided the organisation with the greatest and most beneficial information.
The current corporate workforce strength is 270, consisting of expatriates and Nigerians of various grades and responsibilities.
The factory is divided into several areas, including engineering (mechanical and electrical), production, personnel and administration, finance, purchasing, and sales.
Apart from the only office in Lagos, which orders and receives imported raw materials, the company also has sister enterprises in Port Harcourt and Ibradan. The organisation employs competent, experienced, well-paid, and motivated employees. They make the finest wheat flour, semolina, and maize grits in Nigeria. This is primarily due to a consistent focus on quality assurance and maintenance.
The company’s personnel policies include the following:
To give all employees equal opportunities for promotion based on merit.
To pay a fair rate for work completed and responsibilities accepted.
To guarantee job security to all employees to the greatest extent practical.
To assist employees wherever possible in improving their knowledge of the company’s operations, hence creating opportunities for future progress within the company.
To recognise all employees’ freedom of association, among other things.
1.3 GOALS OF THE STUDY
The study aims to increase the effectiveness of marketing information systems as well as the sales margins of Nigerian enterprises. The goal is to assess the information system of Ideal Flour Mills Ltd, Kaduna, identify areas where the system has failed, and offer the appropriate recommendations.
1.4 Significance of the Study
The purpose of this research (Research Work) is to assist or be of assistance to any organisation that want to embark on a marketing information system in order to develop a well-rooted firm through sales enhancement.
It is also very important for other companies since, at the end of the study, they will attentively refer to this work and take the necessary steps to achieve an efficient and successful marketing information system that will increase their sales levels.
1.5 Scope and Limitations of the Study
Inadequate funding during the duration of the study compounded the limitation during fieldwork, preventing the researcher from expanding this project work to additional companies.
As a result, the study focuses solely on Ideal Flour Mills Ltd, Kaduna, including the geographical, social, economic, and cultural makeup of the area, as well as the sorts of marketing information and methods for gathering information to assist marketing managers in their dealings.
1.6 Statement of Hypothesis
The idea is that Ideal Flour Mills Ltd, Kaduna, requires a marketing information system to increase production sales by raising consumer awareness, market presence, and key tools. Quality and intensive marketing produced results.
1.7 Definition of Related Terms
The researcher took the time to define some of the rare phrases used in this study; this is done so that the project work can have a thorough understanding of marketing information systems even if they are not marketers.
Here are some of the linked terms used in the study:
Marketing is a series of activities that facilitate the exchange of transactions involving “economic goods and services,” with the ultimate goal of meeting human needs. The marketing process entails the preparation and distribution of ideas, goods, and services in order to generate trade that meets the organization’s goals.
Information is defined as gained information with meaning. In most circumstances, information prompted a reaction or responses on the part of the recipient, i.e. information affected behaviour (observable behaviour), i.e. movement of speech or change in attitude as a result of the information.
Marketing Environment: This is the environment in which marketing operations take place, and it is divided into two parts: the external environment and the internal environment of the organisation. External forces cannot be controlled by the form, but internal forces may.
Marketing intelligence is a collection of techniques and sources used by executives to gather daily information on relevant developments in the marketing environment.
Variables: These are qualities shared by members of the population. These qualities may only be used to control how people respond to marketing situations.
Controllable Variables: These are variables that marketers can control in order to solve the organization’s marketing difficulties. Prices, products, distribution locations, and promotions are examples of controllable factors.
Data:- These are bits and prices of fast that typically take the shape of recorded observations. Data have no meaning unless they are processed or turned into information, which is meaningful knowledge.
Primary Data:- These are data obtained by the researcher for the first time, with the specific intention of solving the study topic. Data sources often include oral interviews and questionnaires. Secondary data refers to information obtained for a different research topic or aim than the current study.
Marketing research is the objective and systematic collection, recording, analysis, interpretation, and reporting of information about existing or potential markets, marketing strategies, and tactics, as well as the interaction between markets, marketing methods, and current or potential products or services.
11. Uncontrollable Variables:- These are variables that cannot be normally controlled by marketers and are thus classified as environmental constraints: They include competition, technological advancement, the state of the economy (consumers, suppliers, and middlemen), the physical environment (natural resources), and the greater society (culture).
Chapter Two: Literature Review
According to Peter Druker (1986), the goal of a marketing information system (MIS) is to know and understand the client so well that the products or services provided are critical to marketing decisions. He added that many businesses lack information savvy.
Many companies lack a marketing research department that provides up-to-date and relevant marketing information. Peter Durker believes that focus should be placed on the need of monitoring the marketing environment in order to keep products and marketing practices current.
He stated that management cannot change client preferences, new rival initiatives, or changing distribution methods unless they develop and manage information.
According to Kotler (1997), three developments have increased the demand for marketing information more than ever before:
From local to national to worldwide marketing: As businesses broaden their regional market coverage, their managers require more information faster than ever before.
From buyer necessities to buyer wants: As purchasers’ incomes rise, they become more discriminating in their purchases.To predict buyer responses to various features, styles, and traits, sellers should conduct marketing research.
From price to non-price competition: As sellers increase their use of branding, product differentiation, advertising, and sales promotion, they need to know how effective these marketing techniques are.
Kotler went on to say that the surge of information requirements was matched by spectacular new information technology.Over the last 30 years, technological advancements such as computers,
microfilming, cable television, copy machines, fax machines, tape recorders, video recorders, video players, CD-Rom drives, and multi-media packages have transformed information management.
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