IMPACT OF MARKETING INFORMATION SYSTEM ON MANAGERIAL DECISION MAKING
This project investigates the impact of a marketing information system on organisational decision-making, using the case study of Coca-Cola Plc Benin City. The research emphasises the need of the organisation managing its information network efficiently and effectively in order to increase overall profitability.
The researcher employed an experimental survey research approach, in which the questionnaire was used to gather primary information or data for the study. The biodata was analysed using simple percentages, and the hypotheses were tested using chi-square.
According to the findings, the level of marketing information is low; the organisation should increase the amount of information at its disposal to provide efficient control of its multiple activities and marketing roles.
The management of Coca-Cola Bottling Company Plc Benin must find ways to develop an efficient marketing information system for the improvement and transmission of information, as well as a statistical bank that will allow management and policymakers to make accurate and timely decisions.
1.1 Background for the Study
The Coca-Cola Company is the world's leading soft drink manufacturer, thanks to its expertise in these four key areas! Consumer marketing includes infrastructure, product packaging production and distribution, and customer or vendor marketing.
Dr. John Slyth Pemberton, the investor in Coca-Cola, moved to Atlanta from Columbus, Georgia in 1968. In 1886, he invented or made a mixture of sugar water, Coca leaf, and Kola nut; he added caffeine to the resulting syrup so that it could be marketed.
Through his investigation, Pemberton concluded that all of the drugs was capable of alleviating dyspepsia and tiredness while also being invigorating. According to the history of Coca-Cola,
Pat Waters referenced an 1887 Coca-Cola advertisement that declared that the drink “makes not only a delicious and invigorating – but a valuable brain tonic and a cure for all nervous affection”.
The label also claimed that Coca-Cola's unique flavour delights every Palater, and that it is administered from the communal fountain in the same way that any fruit syrup is.
Going through the study and history of both organisations, it is important to note that marketing has existed since the beginning of time, and that information has existed as well. The only difference from the present situation is that they are not organised. Several scholars have already criticised marketing information systems.
A marketing information system (MIS) can be defined as a system in which marketing information is formally gathered, stored, analysed, and distributed to managers in accordance with their information needs on a regular basis (Jobber, 2007).
He explained that marketing information system is a computer-based system intended for use by particular marketing personnel at any functional level for the purpose of solving problems related to the marketing of a firm's products (goo).
The system is created based on an understanding of the marketing management's information demands and is available to provide information when, what, and how the manager need it.
Data is extracted from the marketing environment and transformed into information that marketing managers may utilise in their decision-making processes.
Armstrong (2008) defined a marketing information system as people equipment that transmits necessary timely and correct information to marketing decision makers.
The management information system (MIS) begins with the marketing manager. Internal and external partners and others who need marketing information first interact with those information users to assess information needs,
and then it interacts with the marketing environment to develop the needed information through internal company databases, marketing intelligence activities, and marketing research.
Finally, the MIS assists the user in analysing information in order to build customer insights and make decisions that enable the management of customer relationships.
1.2 statement of Research Problems
Currently, the soft drink business faces fierce rivalry for attention and patronage, and Coca-Cola Nigeria Limited is no exception. To achieve the problem statement, it would be necessary to include a statement about the marketing information required by the company to better its operations.
This study is up to the findings on the extent to which Coca-Cola Nigeria Bottling Company has succeeded in influencing the decision-making process of this management.
1.3 Objectives of the Study
As previously said, Coca-Cola Nigeria Plc is the subject of the study, from which important data would be acquired to achieve some specified objective, including:
1. To examine whether a proper marketing information system influences management decision-making.
2. Determine whether the company's success is due to its efficient and effective marketing information system.
3. Determine whether an appropriate marketing information system is based on the overall goal of the organisation.
1.4 Research Questions.
In order to ascertain the solution internet in this study, the researcher proposed the following research questions:
i. Does proper M.I.S. influence management decision-making?
ii. Do the services of the organisation rely on an efficient and effective marketing information network?
iii. Is a proper marketing information system based on the organization's overall objectives.
1.5 hypothesis formulation
The company restricted the research activity to build the hypothesis formulation.
Ho: There is no significant link between effective marketing information systems and managerial decision-making.
Ho: There is no substantial correlation between the company's success and its efficient and effective marketing information system.
Ho: There is no substantial association between an effective marketing information system and the ultimate goal of the organisation.
1.6 Scope of Study
The investigation is limited to Edo State, namely Benin City, where Coca-Cola is situated. The study was conducted in response to the scene and concerns about the company's goods, as well as to determine
whether the information is reaching the proper authority and how effective decisions can be made to allow Coca-Cola to preserve its global lead in the soft drink industry. The study's scope is limited to marketing objectives and their impact on the company's internal and external operations.
1.7 Significance of the Study
The justification for the project is intended to benefit the marketing manager in particular, as well as all stakeholders who use data from the marketing information system.
We also see how marketers acquire insight into consumers and the marketplace, as well as how organisations create and manage information regarding marketing information systems such as customers, competitors' products, and marketing campaigns.
This project also aims to help organisations understand how to maintain marketing information in today's marketplace and turn it into new consumer insights that would help them give more value to customers.
1.8 Limitations of the Study
It cannot be denied that significant limits emerged during the course of their scientific efforts. However, these issues are not unique; they arise in all human endeavours. The research met numerous issues during data collecting.
The first issue discovered was time constraints resulting from the semester's short duration.
Another issue was that the firm put apart would not let you in because they were concerned that I would leak the knowledge to another person.
1.9 Operational Definitions of Terms
The following words are defined and discussed as they relate to this study.
Marketing is defined by the American Marketing Association as the performance of commercial operations that steer the flow of goods and services from one procedure to the consumer or end-user.
Marketing Information System: This is defined as a continuous and interconnected system of people, equipment, and timely and correct information used by marketing decision makers to better marketing planning, implementation, and control.
Distribution is the process of delivering manufactured items to the final consumer. The distribution system's goal is to match manufacturing output with market demand by storing commodities and delivering them where they are needed.
Management is viewed as a process or function, as well as the individuals who carry it out, a social position and authority, and a discipline and field of study.
Management is viewed as both a discipline and a group of individuals. Management is concerned with being responsible for the achievement of objectives within a structured organisation and defining roles.
Marketing management is described as the analysis, planning, implementation, and control of programmes designed to generate, build, and maintain advantageous exchanges and relationships with target markets in order to achieve organisational goals. This comprises of an activity involving the implementation of marketing concepts.
Managerial decision: This is described as the manager's decision on the course of action and opportunities based on the information provided in an organisation.
Marketing Decision: Marketing decisions are made based on probabilities rather than certainties, and to the extent that predicted events occur, the plan may be legitimate; however, if an unforeseen development occurs, alternative courses of action are already planned to meet the new circumstances.
Research is the manipulation of ideas, concepts, variables, situations, and symbols to emphasise evidence and other phenomena in order to reach generalisations and conclusions that will form the basis of future theories.
Sales research is an evaluation of the company's sales activity. This is done by analysing sales outlets or sales areas in order to make direct comparisons to public data.
Advertising is defined as any paid non-personal presentation and promotion of ideas, goods, or services by a specific sponsor.
Marketing Intelligence: This refers to the procedures employed by a corporation to maintain consistency in their development in their environment and communicate them to the appropriate executive; it covers all data collected as a foundation for marketing decisions.
Price: Price is a simple offer or an experiment to test the amount that is normally charged for the goods, which may even be withdraw
Marketing research helps to make better decisions by providing additional knowledge on a specific marketing problem. It is concerned with decision-making.
Marketing Concept: It is a management philosophy that tries to identify and meet consumer demands through integrated marketing activities in order to achieve organisational objectives.
Selling is defined as a set of efforts that bring preserve to bear on potential customers, including personal selling, advertising, branding, and packaging.
A product is a set of tangible features such as packing, colour, price, manufacturer, and relater's service that the buyer accepts since the offering wants satisfaction.
Product research is concerned with any research relating to products and their packaging in order to improve those that are currently available as well as design and develop new items.
Services are those separately identifiable (basically intangible) activities that are not required to sell a product or engage in other activities.