Which of the following is true about a Market Information System (MIS)?
A. MIS is a way of continually gathering and analyzing data to provide marketing managers with information they need to make decisions.
B. MIS is very expensive and only large firms can develop an effective system.
C. The information obtained from the MIS is all the information a manager needs to know for decision-making.
D. MIS should only be used when all other avenues for research have been explored.
E. MIS should not be used in marketing.
Answer: (A) MIS is a way of continually gathering and analyzing data that can be used for decision-making. (B) is incorrect. With the development of low-cost micro-computers, small as well as large firms can access powerful MIS systems. (C) is not the best choice because marketing managers must use marketing research to supplement data that have become available through MIS. (D) is incorrect. Other avenues of research should be explored, but not at the expense of MIS. Marketers should have an effective MIS implemented for better marketing results; thus, (E) is incorrect.