MANAGEMENT

Detailed explanation-1: -A marketing information system is an organized method of collecting, storing, analyzing, and retrieving information to improve the effectiveness and efficiency of marketing decisions. The process of summarizing, combining, or comparing information so that decisions can be made is called input.

Detailed explanation-2: -MARKETING INFORMATION SYSTEM (MIS)–an organized way of continually gathering, accessing, and analyzing information that marketing managers need to make decisions.

Detailed explanation-3: -Procedures that develop and analyze new information to help marketing managers make decisions are called: Marketing research. Isaac, a marketing manager, performs Internet searches and customer surveys to develop and analyze new information about a market his company is planning to enter.

Detailed explanation-4: -There are three primary types of marketing information marketers use to gain insights that will contribute to wise marketing choices: internal data, competitive intelligence, and marketing research.