Answer:
while both a Marketing Intelligence System (MIS) and a Marketing Decision Support System (MDSS) aim to support marketing decision-making, an MIS primarily focuses on gathering and providing information about the market environment, customers, and competitors. In contrast, an MDSS leverages technology and analytical tools to analyze data and provide decision-making support through forecasting, modeling, and data analysis capabilities.
Step-by-step explanation:
A Marketing Intelligence System (MIS) refers to a set of procedures and tools that gather, analyze, and distribute relevant information to assist marketing managers in making informed decisions. It involves collecting data from both internal and external sources, such as market research reports, customer surveys, competitive analysis, and industry trends. The MIS focuses on providing comprehensive and up-to-date information about the market environment, customer behavior, and competitors, enabling managers to better understand market dynamics and make strategic decisions.
On the other hand, a Marketing Decision Support System (MDSS) is a technological system that helps marketing managers analyze data and make data-driven decisions. It typically involves the use of software and analytics tools to process and analyze large volumes of data collected from various sources. The MDSS focuses on providing analytical capabilities, such as forecasting, data visualization, statistical modeling, and scenario analysis, to support marketing decision-making processes. It helps managers evaluate different marketing strategies, assess their potential impact, and make more informed and data-driven decisions.