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(PDF) Benefits of the Marketing Information System

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Added on  2021-02-20

(PDF) Benefits of the Marketing Information System

   Added on 2021-02-20

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(PDF) Benefits of the Marketing Information System_1
Table of ContentsESSAY.............................................................................................................................................1Importance of marketing information system..............................................................................1Effectiveness of MIS as a tool for marketing, information gathering and communication.........3REFERENCES................................................................................................................................5
(PDF) Benefits of the Marketing Information System_2
ESSAYMarketing information system (MIS) is known as management information system whichis used to support the decision making of organization. In other words the system marketinginformation system is consists of market data collection, storing, processing and distribution torelevant person (Giesler and Fischer, 2017). The definition of marketing information system is,the systematic collection, analysis, interpretation, storing and distribution of market informationwhich is collected from both internal and external sources. In the tourism and hospitality industrythe marketing information system is most important for the efficient working of organization.Marketing information system can help the organization to collect the information of targetmarket. Through the marketing information system the data of tourism can be utilised to makechanges in the industry as per need. For better performance organization can use differentpolicies to attract the customers.There are many companies uses the MIS to improve their performance in the marketwhich are Best Western London Queens Crystal Palace, Hotel Hilton, Thomas Cook, VirginAtlantic that are known companies in UK. The Best Western London Queens Crystal Palace isfrom hospitality industry and Virgin Atlantic is from travel and tourism industry. MIS can helpthese industries to improve their performance by providing the information of market. This reportis explaining the effectiveness of MIS in hospitality sector and travel and tourism system. Thelink between the MIS and company policy is explained to know the process of decision makingof different organizations.Importance of marketing information systemThe marketing information system is also known as management tool to processinformation of market. The different components of marketing are- internal record, marketingintelligence system, marketing research and marketing decision support system (Turel, 2015).This all component of MIS work together to improve the information effectiveness which iscollected form market. This processed information is used by hospitality industry and travel &tourism industry to gain maximum productivity. These are the components of the marketinformation system and this component help to improve the performance of the organization.Internal Records involve formation with in the organization is collected form internalsources which are exists with in the organization. The different type of internal information are-sales data, consumer data base, product data base, economic data and other internal records.This data is used to process to generate required information from it. This internal data helps totake relevant decision to the internal changes in company. In the Best Western London QueensCrystal Palace the internal data of the hotel is used to evaluate the performance of organization1
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