Page 49 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes prefer comparison shopping. I will be surprised if the stores make money,” comments
KSA’s Sahni.

Meanwhile, there’s the imminent departure of the man who built up LG India to its
present height. Kim, who was last year promoted as head of LG South West Asia, is likely
to move up within the parent organisation some time soon. “I am preparing to leave,” he
admits. Will that make a difference to LG’s growth curve? Kim doesn’t think so.
“The system is working, so things will continue as they are,” he says. That thought finds
an echo in Sahni, who points out “Kim may be leading from the front, but LG couldn’t
have achieved what it has without a strong team.”
The challenge now will be to integrate the new incumbent’s working style with the
existing culture of the organisation—and work on the new marketing strategy. If LG
meets that head on, then, like its tagline says, Life’s Good.
Questions

1. Study the case and identify significant issues.
2. Conduct a SWOT analysis of LG.
3. What marketing strategies did LG adopt to be so successful in India?
Source: www.bsstrategist.com April 5, 2005.

2.3 Marketing Information Systems: The Concept

The term ‘Marketing Information Systems’ refers to a programme for managing and organising
information gathered by an organisation from various internal and external sources. MIS assesses
the information needs of different managers and develops the required information from
supplied data in time regarding competition, prices, advertising expenditures, sales, distribution
and market intelligence, etc. Information sources for MIS include a company’s internal records
regarding marketing performance in terms of sales, and effectiveness and efficiency of marketing
actions, marketing databases, marketing intelligence systems, marketing research, and
information supplied by independent information suppliers.

2.3.1 Components of a Marketing Information System

A Marketing Information System (MIS) is intended to bring together disparate items of data into
a coherent body of information. An MIS is, as will shortly be seen, more than raw data or
information suitable for the purposes of decision making. An MIS also provides methods for
interpreting the information the MIS provides. Moreover, as Kotler’s definition says, an MIS is
more than a system of data collection or a set of information technologies:

“A marketing information system is a continuing and interacting structure of people, equipment
and procedures to gather, sort, analyse, evaluate, and distribute pertinent, timely and accurate
information for use by marketing decision makers to improve their marketing planning,
implementation, and control”.
Figure 2.6 illustrates the major components of an MIS, the environmental factors monitored by
the system and the types of marketing decision which the MIS seeks to underpin.

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