objective:increase market share by 5% in telecommunications industry.
Identify at least 5 key activities management information system required to accomplish objection and list 3 Management information system resources that will that will be required to complete the identified activities.
We'll be glad to critique your answers.
competitive pricing
increase market in low market areas
target specific group
better plan package than competition
word of mouth from satisfied customer
customer relations management
advertising on the internet
direct mail promotions
They all look good to me. :-)
Thank you for your response.
To increase market share by 5% in the telecommunications industry, management information systems (MIS) can play a crucial role. Here are five key activities the MIS may require to accomplish the objective:
1. Data Analysis and Reporting: MIS needs to analyze market trends, competitor insights, customer behaviors, and internal data. This will involve collecting and organizing relevant data sources, identifying key metrics, and generating regular reports to monitor progress and identify growth opportunities.
2. Customer Relationship Management (CRM): Implementing a CRM system will be crucial to track customer interactions, manage sales leads, and improve customer satisfaction. The CRM system can enhance communication, facilitate targeted marketing campaigns, and enable the sales team to focus efforts on potential growth markets.
3. Competitive Intelligence and Market Research: MIS needs to continuously monitor the competition and gather market intelligence. This will involve conducting market research, competitor analysis, and tracking industry trends. Utilizing tools like online surveys, social media listening, and industry publications can provide insights into customer preferences and help identify untapped market segments.
4. Marketing and Promotions: MIS can support the design and execution of marketing strategies aimed at increasing market share. This may involve leveraging customer data to segment and target specific market segments, tracking the success of various marketing campaigns, and measuring the return on investment (ROI) of promotional activities.
5. Sales and Distribution Management: MIS can optimize the sales process by streamlining order processing, inventory management, and fulfillment. This includes integrating sales and distribution channels, managing customer accounts, and providing real-time visibility into inventory levels. A robust MIS can ensure efficient order processing, minimize lead times, and enhance customer satisfaction.
For these activities, the MIS will require specific resources. Here are three management information system resources that will be required to complete the identified activities:
1. Hardware and Software Infrastructure: The MIS will need appropriate hardware such as servers, computers, network equipment, and storage systems to handle data processing and storage requirements. Additionally, it will require software applications like a CRM system, data analysis tools, and marketing automation platforms.
2. Data Sources and Integration: The MIS will need access to various data sources, including internal databases, customer data, market research reports, social media data, and competitor information. Integration tools and techniques, such as data connectors, APIs, and data pipelines, will be necessary to consolidate and analyze data from diverse sources.
3. Skilled Workforce: The MIS team will require competent professionals who possess skills in data analysis, software development, database management, marketing strategy, and project management. These individuals should also have a good understanding of the telecommunications industry to effectively leverage MIS for market share growth.
It's important to note that the specific requirements for MIS resources may vary depending on the organization's size, existing infrastructure, and technology preferences. Therefore, it's recommended to conduct a thorough assessment of organizational needs and consult with IT professionals to ensure the right resources are identified and implemented.