Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 MIS and its tools used for marketing, gathering information and communication....................3 Evaluation of the effectiveness of the company's use of MIS for marketing, information gathering and communication.....................................................................................................5 Highlight the reasons of MIS for marketing, information gathering and communication..........7 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9
INTRODUCTION The systematic collection, of marketing information and then analysing it and storing it for both external and internal sources to the marketers on regular basis for efficient marketing function is known as marketing information system. This system distributes relevant information to the marketers for making efficient and effective decision making related to pricing, packaging, promotion and distribution of products and services. MIS contains of four components which are internal records, marketing system based on intelligence, marketing decision support system and marketing research. For better understanding of report, it will take hotel Marriott which offers themostpowerfulportfoliointheindustryanddealsinhotelindustryinproviding accommodation and food to the customers. The report will include MIS and its tools that can be used for marketing, gathering information and communication. Further, it will include evaluation of effective tools which the company will be using and will highlight the reasons of MIS. MAIN BODY MIS and its tools used for marketing, gathering information and communication Marketing information system is a tool itself that can be used by Marriott Hotel industries in order to market its product and services to the customers. It helps the marketer of the group in knowingtheimportantinformationthatincludesdecisionsregardingpricing,packaging, promotion etc. the tools it uses for marketing, gathering information and communication are: Internal records–MIS with this tool can help the hotel in collecting information through its internal records which comprises of data of sales, database of customers, product database and financial data. The information can be collected from various documents like billing documents once they receiveorders from the customers, dealers and representatives of sales. It helps the group in maintaining sales data on regular basis (Pike, 2015). The report on current sales and the inventory levels will help the management in deciding it as objectives and can help the hotel in making future strategy. It helps in maintaining customer database which includes complete information about the customers like their name, address, phone number, email address etc. which helps the management of hotel in retaining its customers and attracting them for new offers. At last it provides product and salesperson information about features of product, salesperson information including their name, address, phone number etc. This tool converts all themeaningfulinformationthatgivesfactsandfigures.Theserecordshelpininternal communication as with the help of customer data base it communicates to the internal staff of the
hotel about current need of the customers and also their visits which helps the employees of the hotel in communicating with the potential customers to invite them for stay. Marketing intelligence system –This tool provides the data to the hotel about what is happening in the market. It gives information about data that is related with marketing environment that is external to the organisation (Pappas, 2017). It helps the hotel in finding out the information about changing market trends, pricing strategy of the competitors, taste and preferences of the customers, launching of new hotels in the industry along with their product and service offerings, and their promotional strategy etc. The hotel need to train and motivate its employees so that they can check on sales trends and changes in the taste and preferences of the customers and can give suggestions for the same. The hotel needs to focus on gathering the information about its competitors and the Marriott hotel can be done by booking rooms and having dinner and lunch in competitor's hotel to get a better idea about what the competitor offers to others. It can also be improved by taking feedbacks from the loyal customers who always visits to the hotel and can give advice to the new potential customers. This system communicates the workers and directors of Marriott about current market trends, competitors’ schemes and discounts etc. which helps it in taking effective decisions regarding their strategies to be better than the competition. Marketing research –It is systematic collection, organisation and analysis of primary and secondary data which helps in solving the marketing related issues (Akbar and et.al, 2017). The market research will help the company in analysing the market environment and the hotels residing in that sector which comprises of change in taste and preferences, strategies of competitors etc. by applying few tools. It collects primary data or secondary data by using interviews, questionnaires etc. and contributes a lot in marketing information system as it provides data with facts which are tested by the researchers that leads to accuracy. Market decision support system –This system helps software programs that can be used by marketers to analyse the data to take decisions based on that data. With the use of computer, the mangers of marketing department save the data in table form so that they can easily apply statistical programs to analyse the data and make decisions (Gillespie, 2015). For this purpose, the marketers of the hotel have to keep an eye on both internal as well as external environment so that new strategies of the hotel can be implemented. It helps in designing a persuasive message
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
and help the hotel management in receiving feedbacks from the customers. It helps in developing model which ca lead to effective marketing communication. Evaluation of the effectiveness of the company's use of MIS for marketing, information gathering and communication Internal records AdvantagesDisadvantages It is less expensive and costs and resources under this can be monitored and controlled by conducting investigations (Martell, ,2018). Internal employees tap product, development for deep knowledge and advice. It helps the hotel in customizing and maximising search efforts.Ithelpsthemarketingstaffin discussing features of product and services to establish it in the eyes of the customers. The internal records are managed by internal marketing tea which might not be impartial and can create a disadvantage. This Hotel lacks in expertise to have effective staff. It requires deep knowledge to maintain all the records and unless there is no expert to consult, records are of no use. Relying on internal records may create biases and inadequate customer satisfaction. It gets difficult to conduct research in all the marketswheretheirservicesarebeing distributed. Marketing intelligence system AdvantagesDisadvantages It can provide better view of actionable data as ithelpsinsegregatingthecustomersof Marriottandbasedontheirvaluesmake competitive and product strategies. Itcanboostsellingopportunitiesofthe companyasithelpsMarriottinselecting customer segment (Goncharov, 2015). In case if the employees are not motivated it is of no use to use it in the hotel. The information related to competitors in terms of what kind of food they offer, what services theyprovide,howwelltheypresenttheir rooms etc. need to be accurate in order to make strategies else it can fire back on the Hotel.
It can improve capabilities of the hotel and other companies in retaining its customers. Marketing research AdvantagesDisadvantages ItcanhelpMarriottinstrengtheningtheir positions and to stay ahead of the competition (Gillespie, 2015). It can identify threats and opportunities by doing primary or secondary research. It can help the hotel in analysing and spotting tends that are emerging in the market (MIS, 2019). Itcanhelpthehotelcompanyinrevenue projection and focusing in customer needs. It helps in setting benchmarks against different companies in hotel industry and do employees surveys sop find out the issue if any. It consumes a lot of cost and efforts it includes the cost of questionnaires, surveys etc. it is time consuming method as time associated with performing research questionnaires and surveys. It is based on opinion of people therefore lack of respondent can be a disadvantage for market research. Market decision support system AdvantagesDisadvantages It can save time and can increase productivity of the employees working in the Mariot as whenthedecisionisclear.Itremoves confusion. Itcanenhanceeffectivenessindecision making which lead to better decisions which ultimately benefits the company like providing discounts to the customers would be beneficial ADSSsystemreliesonquantitativedata which creates issue as its difficult to analyse indefinabledataandespeciallyinhotel industry when customer's feedback, taste of food matters more than anything. (Bell, 2015). Itmakesdecisionswithoutconsidering uncontrollablefactorswhichcancause problemlikerecessioninfoodsupplying
or not, complementary dinner etc. Itcanreducecostoftechnologyand infrastructure which are need to be used by Mariot and can provide competitive advantage. As when decisions are accurate, there is no need of heavy investments. industry, seasonality etc. Many decision- makers find it difficult to use DSSsystemandhencelackoftechnology knowledge remains the issue. Not many people in hotel are good at technology as that is not their field therefore knowledgable person is need to be hire for that purpose. Highlight the reasons of MIS for marketing, information gathering and communication Yes, MIS is an effective system that can be implemented in Marriott as it helps the organisation in creating effective channel management (Iskoskov, 2019). It can help the organisation in maintaining the database of customer who have visited the hotel and has availed its services. It can help in understanding the purchasing habits of the consumers which will help it in making product strategies. It can provide information about competitors and their strategies whichwillhelptheorganisationinchangingtheirstrategiesasperthestrategyofthe competitors. It can help in demand forecasting which is critical and most important part of marketing analysis and with the help of marketing information system it can be achieved. The customers can easily be updated based on the information which is kept in MIS. The dealers involved in selling rooms and other services on the behalf of Hotel can also be monitored and can help in enhancing revenues of the hotel. MIS helps in communication effective information to the staff of hotel, its directors related to competitor's discounts and services that they are providing to the customers. it helps in making strategies and the communication it to the hotel's management for implementation. It helps the hotel in knowing the promotional techniques that its competitor are suing for the purpose of increasing their sales and profits. MIS helps in making decision, communication and marketing of the products and services efficiently and effectively (Muller, 2019). It helps in gathering information that helps in communicating the strategies of the competitors to the whole organisation.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
CONCLUSION The report concluded the definition of marketing information system along with its tools that helps the organisation in marketing their products and services effectively. Further the report evaluates the advantages and disadvantages of different tools of marketing information system which includes marketing research, internal records etc. that can help the organisation in understanding the strategies of different organisation. At last the report depicted the reason for using MIS systems in the organisations and has showed if it’s important or not.
REFERENCES Books and journal Akbar, F., and et.al., 2017. Niche marketing strategy framework for SMEs: A conceptual framework. Algharabat, R. S., Zamil, A. M. and Vasista, T. G. K., 2015. The Influence of Retailer Enterprise Marketing Information System on Bullwhip Effect.International Journal of Business and Management,10(3), p.237. Allen, M., 2016.Essentials of publishing qualitative research. Routledge. Bell, D. and Leabman, M., Energous Corp, 2015.System and Method for a Self-system Analysis in a Wireless Power Transmission Network. U.S. Patent Application 14/286,129. Gillespie, K. and Riddle, L., 2015.Global marketing. Routledge. Goncharov, V. N., 2015. Marketing data in the hospitality industry. InРЕГИОНАЛЬНЫЕ АСПЕКТЫ ФУНКЦИОНИРОВАНИЯ ГОСТИНИЧНОЙ ИНДУСТРИИ= REGIONAL ASPECTS OF THE HOSPITALITY INDUSTRY(pp. 63-66). Iskoskov, M. O., Kargina, E. V. and Klochkov, Y., 2019, April. Innovative Model of the OrganizationofaMarketingSystematEngineeringEnterprises.In2019Amity International Conference on Artificial Intelligence (AICAI)(pp. 992-997). IEEE. Larson,J.andDraper,S.,2015.Internetmarketingessentials.IdahoFalls,ID:Stukent Incorporated. Malhotra, N. K., 2015.Essentials ofmarketing research: A hands-on orientation. Essex: Pearson. Martell, D. A., 2018. Marketing Information and New Technology. InManagement Information Systems: The Technology Challenge(pp. 161-181). Routledge. Muller, M., 2019.Essentials of inventory management. HarperCollins Leadership. Pappas, N., 2017. Effect of marketing activities, benefits, risks, confusion due to over-choice, price, quality and consumer trust on online tourism purchasing.Journal of Marketing Communications.23(2). pp.195-218. Pike, S., 2015.Destination marketing: essentials. Routledge. Online MIS, 2019. [Online]. Available through: <https://sites.google.com/site/misprojectkickoff/what-is- marketing-information-systems-mkis/-benefits-of-marketing-information-systems>