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Marketing
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONMarketing comprises of activities ranging from identifying potential customers who canbe targetted for selling the goods or services (Kotler and et. al., 2017). Activities involved in thisare advertisement, promotion, sales, and distribution of the produced products/services. In thisreport, The Ritz London has been chosen which is a fives star hotel located in London, UnitedKingdom. Furthermore, in this report the importance of marketing information system has beendiscussed along with its effectiveness within hospitality and tourism industry. MAIN BODYHospitality and tourism industry is associated with providing services related toaccommodation, travelling and restaurant. These are intangible in nature and generate hugerevenue in the economy. This report talks about contribution of marketing information systemand its effectiveness in the organizations operating in the selected industry. Every suchorganizations implement software programs in order to help managing the work efficiently andsmoothly. This requires good amount of investment for the development of a software suitable tothe hotel or other organization. Marketing information system (MkIS) refers to a software which allows an organizationto have information and data about marketing research (Ashmarina and Zotova, 2016). With thehelp of this, variety of data can be analysed in different ways followed by proper compilation. Itworks as a tool which is used for making decisions regarding consumer behaviour and marketingmix by comprising products or services. It comprises of many components such as internalrecords which is related with extraction of data from records available with the entity such ascustomer database, sales records, financial data etc. The next component being marketingintelligence system which provides information about the current situations prevailing in themarket which is beyond the control of the entity. Marketing research is another element whichrefers to systematic collection, organization, analysis and interpretation of data belonging toprimary or secondary sources. And the last is marketing decision support system which is again asoftware program used for analysing the extracted data. There are more than one benefits that MkIS can provide to an organization if it is used inan appropriate manner. First being better understanding of needs and wants of customers, theinformation about the same can be gathered with by using MkIS. Second importance is effective1
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