Design and implementation of market information system

Project Abstract

The design and implementation of a market information system (MIS) is crucial for businesses and organizations to make informed decisions, optimize operations, and gain a competitive advantage in today's dynamic market environment. This research project focuses on developing an MIS that effectively gathers, processes, analyzes, and disseminates market data to stakeholders. The MIS will be designed to collect real-time data from various sources such as social media, market reports, surveys, and industry publications. The system will employ data mining and analytics techniques to extract valuable insights and trends that can help businesses understand consumer behavior, market dynamics, and competitive landscape. Key features of the MIS include a user-friendly interface for easy access to information, customizable dashboards for different user roles, and data visualization tools to present complex data in a clear and actionable format. The system will also have alert mechanisms to notify users of important market developments and trends in a timely manner. The implementation phase of the project will involve integrating the MIS with existing business systems and databases, ensuring data accuracy and security, and providing training to users on how to effectively utilize the system. Continuous monitoring and evaluation will be conducted to assess the system's performance, identify areas for improvement, and adapt to changing market conditions. The benefits of implementing an MIS include improved decision-making based on data-driven insights, enhanced strategic planning, increased operational efficiency, and better customer satisfaction. By having access to timely and relevant market information, businesses can anticipate market trends, identify new opportunities, and respond proactively to challenges. Overall, the design and implementation of a market information system are essential for businesses to stay competitive and thrive in today's fast-paced and data-driven market landscape. This research project aims to provide a comprehensive framework for developing an effective MIS that can empower organizations with the knowledge and tools needed to succeed in the marketplace.

Project Overview

<p> </p><div><p><strong>INTRODUCTION</strong></p><p><strong>1.0 &nbsp; &nbsp; Introduction</strong></p><p>“Goal achievement” is the watch word of every business organization tries to amend economics resources whatever maybe it’s views and philosophies and which ever route these goals are to be achieved. Given a set of resources, organization try to maximize profitability. The philosophy applies to all spheres of the economy, particularly marketing organization. In order to achieve laid down goals, modern techniques in business demand that planned and defined system, and tools be formulated and adopted to meet the requirement organization required. One of such fundamental tools is marketing research, marketing research can be defined as a formal systematic collection recording, analyzing and reporting of data aimed at solving a given problem or identifying an opportunity. Marketing research also concerns itself with coordinating responsibilities, comparing actual sales volume with the forecasting sales volume as asking upon result to achieve maximum profit.</p><p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; The universal application of marketing research data by various marketing organization and their fields of human endeavour cannot be over emphases. 7-up bottling company not therefore an exception of this direction. In Nigeria context, we operate servers market economy which is a situation where whatever severs of different products brought in the market must be sold. Companies in Lagos state in particular and in Nigeria in general pay deaf ears to marketing research from the fact that the country is experiencing production crisis, which has pastured into crisis of supply, and which has made it impossible for our manufacturing firms to cope with the supply of a wide consumer goods to it various companies that exist in our distribute system.</p><p></p></div><div><p><strong>Theoretical Background</strong></p><p>Marketing research acts as a guide to business executives by controlling their scope of marketing concept negligence. It directs management to a realistic approach to its goals and objectives. The tools also harness the functions and efforts of different department of the company and ensure effective con-ordination of total marketing efforts in an organization. By this derivation form laid down standard can be detected and corrected at the early state. Marketing research as a management tools contributes to improve managerial efficiency and also to what extent this tool is to increase profitability. Then marketing information system (MIS) is an organized way of continually gathering and analyzing data to provide marketing manager with formation they need to make decision. &nbsp; &nbsp; </p><p><strong>1.2 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>Statement of the Problem</strong></p><p>The problem face by 7-up bottling company Aba is lack of market report on sales and on the stock. And also lack of facilities to analyze, recording and reporting of data aimed at solving a given problem or identify an opportunity in the company. The main problem of the 7-up bottling faced was inability of the manual system to maximize company’s opportunity and profits.</p><p><strong>1.3 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>Aim and Objectives of the Study</strong></p><p>Objectives of the study are as follows:</p><p>i) &nbsp; &nbsp; &nbsp; To create an understanding of the different roles managers play and how marketing information system can support them in those roles.</p><p>ii) &nbsp; &nbsp; To appreciate the different types and levels of marketing decision making.</p><p></p><p>iii) &nbsp; &nbsp; To clearly distinguish between marketing research and marketing intelligence.</p><p>iv) &nbsp; &nbsp; To keep, recording and reporting of informations aimed at solving a given task.</p><p>v) &nbsp; &nbsp; To gather sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.</p><p><strong>1.4 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>Significance of the Study</strong></p><p>1. &nbsp; &nbsp; &nbsp; It would help managers to forecast changes in product demand, increase selling productivity and exercise control over sales and distribution expenses.</p><p>2. &nbsp; &nbsp; &nbsp; The newly design system would interact with the marketing managers or rather information users to assess information needs.</p><p>3. &nbsp; &nbsp; &nbsp; It would helps managers to analyze information to put in the right from making marketing decisions and managing customer relationship.</p><p>4. &nbsp; &nbsp; &nbsp; The MIS distributes the marketing information and helps managers use it in their decision making.</p><p>5. &nbsp; &nbsp; &nbsp; The design of the system would provide jobs for system analyst and programmers contacted to build the system for companies.</p><p>6. &nbsp; &nbsp; &nbsp; Finally, research project would serve as reference material to other scholars interested to further research on this topic.</p><p><strong>1.5 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>Scope of the Study</strong></p><p>This research project is restricted to the “implementation of marketing information system” using 7up bottling company Aba as a case study. Data used for the study were gathered from this source.</p><p><strong>1.6 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>Organization of the Study</strong></p><p>The research project has been arranged in the following order;</p><p>Chapter one contains introduction, theoretical background of study, statement of the problem, aim and objectives of the study, significance of the study, scope of the study, organization of the research and definition of terms. Chapter two contains introduction and literature review. Chapter three contains introduction, research methodology, system analysis and system design. Chapter four is the system implementation and documentation which gives the direction of system and analysis of modules. Chapter five contains summary, conclusion and useful recommendation(s) of study. &nbsp;</p><p><strong>1.7 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>Definition of Terms</strong></p><p><strong>Market Research:</strong>&nbsp;Is a formal systematic collection recording, analyzing and reporting of data aimed at solving problem. &nbsp; &nbsp; &nbsp; </p><p><strong>Marketing Intelligence: </strong>Is a set of procedures and data sources used by marketing managers to gift information from the environment that they can sue in their decision making.</p><p><strong>Marketing Models: </strong>It interpreting information in order to give direction to decision</p><p><strong>Market: </strong>Is a regular gathering of people for purchase and sale of provisions, livestock, and other commodities</p></div> <br><p></p>