Pearl Contiental
Essay Preview: Pearl Contiental
Report this essay
“The value of the market research department is not determined by the number of studies it does, but by the business value of the insights that it produces and the decisions that it influences.”
Customer insight: Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
Marketing Information Systems:
“A marketing information system (MIS) is an organized set of procedures and methods designed to capture, sort analyze, store and distribute the continuous information flow from inside and outside the company”. In any organization the marketing information system is very necessary. The Pearl Continental has a strong marketing information system (MIS) in the hotel. There is a continuous information flow in the hotel.
DEVELOPING INFORMATION:
In the Pearl Continental information is needed by marketing managers can be obtained from
Internal Company records/ databases
Market intelligence
Marketing research
Internal Records
“Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to identify marketing problems and opportunities.”
Marketing managers of Pearl Continental use internal records and reports regularly especially for making day to day planning implementation and control decisions. In this hotel accounting department prepares financial statements and keeps detailed records of sales, costs and cash flows. The marketing department maintains a database of customer demographics, Psychographics, and buying behavior. The customer services department of the hotel provides information on customer satisfaction or service problems. The Pearl Continental has a better internal record system in the hotel.
Marketing Intelligence
Marketing intelligence is related with the everyday information about developments in the marketing environment. Marketing intelligence can be gathered from many sources. Much intelligence are personnel, executives, engineers and scientists, purchasing agents and the sales force.
Pearl Continental has a complete marketing intelligence system in the hotel. Each department organize day-to-day meeting in their department. In this meeting all problems and happenings regarding previous day was discussed. Marketing department organize its own separate meeting in the department. Marketing managers prepare and advise day-to-day marketing plans in this meeting. The Pearl Continental has a complete marketing information system