Table of Contents:

Introduction...Page 2 Discussion on timely information.Page 3 Type of information required...Page 4 Justifying the reasons..Pages 5 & 6 Examples..Pages 6 & 7 References....Page 8

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As an information consultant, advising the Board of a global theme park operator, how relevant and timely marketing information could help it grow its business globally. Indicate the type of information required and explain why this is important data.

Solution: Themes parks can be crucially used to promote tourism and leisure activities. With the changing business environment consumers search for alternatives like multi-optional offers of entertainment that are both impulsive and less time consuming. Entertainment is the new buzzword of this era. People are keener to have an experience instead of purchasing. This key to it is authenticity, fun and participation. It has been researched that people spend more on entertainment than they do on clothing. As the business expands globally, relevant and timely marketing information becomes more critical. The research to support the international marketing decisions is constantly evolving over the past few decades. Marketing managers need objective, accurate and current or timely information to develop marketing strategies. Marketing research assists decision making. Without proper marketing research it is hard for the management to make sound marketing decisions.

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DISCUSSION ON TIMELY MARKETING INFORMATION The business world is dynamic and constantly evolving. A company is governed by its environment both external and internal. To keep up with the changes we need to ensure that our business does not miss on the favorable opportunities and deal with the problems in their early stage. This can only be done if we are well-equipped with the tool called Information about our markets. And it is needed NOW not next year or when its too late. Timely information meets the immediate needs of the businesses. In 21st century the technology has made it easier for customers to access more choices than ever before making the competition even fiercer. This has rendered the business effective and more complex simultaneously. It indicates that our management also needs to be equipped with the data to enable the business move past the competition, improve brand loyalty and increase market shares. On the other hand technology also makes it a lot easier for our company (that deals in Theme parks) to spread its horizon and reach the customers worldwide. Technology is one of the most crucial tools to get access to relevant and timely marketing information. The business can strengthen its networking skills globally by using computers and mobile devices which offer continual and efficient means of communication. The use of new software systems and advanced applications has significantly proven to evolve the way a research is conducted. It also helps us develop better products and provide better services for our worldwide customers. Information is power for the business. It essential attributes that turns any less value information to important information are: Accuracy and timeliness. Accurate information gives reliable and valid picture of the real business world. Extremely high risks are posed if the information provided or collected is inaccurate or distorted in nature. This is crucial to avoid any sort of accidents. As per the reports available thousands of people get injured at the amusement parks due to the carelessness in operations, and in inspections of the rides in the park. Negligence of staff and unavailability of accurate information can be extremely damaging to the parks visitors and also the theme parks reputation. This makes it essential to equip the staff globally with accurate information. Timely information is considered as the information available as and when it is required. In the face paced technology driven world of today, it is crucial for the business operators to keep up with latest up-to dates at all times. It is important to have timely information regarding the competitive theme parks in the region. Also, it is necessary to provide timely information to the park visitors and staff members as discussed below.

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Type of Information required

The theme parks should be focused on providing quality real time experience to its visiting guest population. Everyone who constitutes in the functioning and developing of the Theme parks requires information concerned with their field of work: Employees: Information is required by the employees working in their specific departments to perform their duties and operations. The major departments of our theme parks include: Food department: The food department must be well aware of the number of current visitors in the park at every hour. The mobile dispensing vehicles should be deployed accordingly. Hence they need this information from the entrance as and when the guests arrive. They should also have an estimated forecast of the visitors expected around different time periods like vacations, holidays and months around the year. Maintenance department: People involved in technical support must be timely informed of any technical problems experienced by the staff on the ground. The rides must be properly maintained and tested regularly to ensure safety of the passengers and visitors. Sales and Marketing department: Their job is to concentrate on advertising and creating brand loyalty. They require information from time to time on the upcoming events - like Halloween etc. They also act as the liaison with the journalists and film crews. Entertainment department: The performers and choreographers needs information on the number and type of audience expected. Finance department: This department requires information on the sales made and all other expenditures made by the theme parks, including the cost and investments.
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Market research information related to both internal and external business environment. Stakeholders: Information should also be made available to the stakeholders that help develop and invest in the theme park and its attractions. They should be regularly informed of the plans, goals and current market shares of the theme park business. The information ensures their support and improves the quality of the theme parks. They not only require the already available information of the business but also the future forecast and researches related to the theme park operators. Their concerns should be carefully examined they should be presented with the forecasted reports of the business of the theme parks.

WHY IS THIS INFORMATION NEEDED-JUSTIFICATION

Timely and relevant marketing information is essential to provide adequate base for decision making on a daily basis. It also assists in mapping or representing the firms path in the turbulent and constantly evolving business environment. The secret lies in understanding the triumph behind the successful parks around the world, why some succeed others fail in the same environment. This indicates that it is essential for a business to stay at the top and promote their brand standards among the customers. It is indeed crucial to invest in customer intelligence products that allow the theme park to adjust their brand positioning, customer service platforms to further enhance customer experience. This gradually effects the brand loyalty and creates a positive halo, finally resulting in optimal sales performance and upsurge in market share of our Theme park. As a result of direct links and easy information flows available with our customers, retailers and suppliers; the global markets have become geographically integrated and established. Providing relevant marketing information to our customers from time to time, can assist them to stay aware of the special promotional offers, discount offers to stimulate repeat visits and eventually develop brand loyalty. It can help increase the brand awareness and promote it among the masses. Management must switch the traditional campaign management strategies to more customer friendly modes of communication digital and online marketing. These media encourage two way communication approach between the company and its customers. In this era customers expect the companies to involve themselves and endeavor to reach them on the media they regularly use like e-mails, mobile devices and social media tools.

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It is indeed an ideal opportunity for the Theme parks operators to harness the power of digital techniques and online social media to effectively grow their business. This will hugely impact the companys communication channels within the organization and with the customers. Other reasons are Limited availability of time: In todays business world, organizations have very limited time to respond to the markets. Thus making it crucial for the organization to react quickly gathering and analyzing both internal and external data available. This further enhances the odds of beating the competition.

EXAMPLES Marketing Information System (MkIS) It is a Management information system as well as a programmed system that intends to give the organization a structured flow of information that maintains its marketing activities. It is defined as a system that is made up of people, tools and techniques which collect, order, examine, evaluate and allocate needed, timely and relevant information to the decision makers. We can set up a similar computerized system for the theme park that will include the operational premises of the theme park and its visitors, this will automatically process and issue a multi service visitors card. This system will also control and monitor admission, perform value added manipulation of the guest card's contents and to examine the visitor's buying pattern. Customers can be issued smart debit cards that can be utilized by the park visitors to pay, which will be capable of partitioning the total monetary amount of the debit card among a number of categories of prepaid Theme Park goods and services offered at various point-of-sale locations in the Park. The smart cards can also be encoded with biometric identification of their respective card holders; these can be further verified at various point-of-sale locations upon the purchase of goods and services in the premises of the theme park. Enterprise Resource Planning solution (ERP) In an organization it is essential for all its departments (Production, Finance, Sales, Marketing, Customer service management, Human resource etc.) to function together instead of performing in isolation. This software application provides an integrated approach to combine and share the information of one department with other departments across the organization. ERP provides a shared database that facilitates the flow of information between all business functions. For instance a sales order will directly be available to the finance department without any requirement of manual rekeying. Also, the purchase department will have easy access to the production planning details, which will further assist it in making the purchasing schedule. This can be used as an important tool for effective communication within the organization.
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Mobile marketing The company can integrate mobile advertising which is a very potent tool to reach its potential customers. This can include launching mobile apps for customers. This application can be used by the amusement park staff to send the park visitors current and relevant information concerning the promotions, discounts, special offers and event notifications. It has the option of being able to connect with the park visitors one on one irrespective of their location.

Social networking sites Social networking websites like Facebook, twitter provide an effective way to communicate with the customers. Communication can be accelerated through these websites by sharing real time experiences with the customers and also among the employees within the organization. The networking sites are not limited to simply reaching our customers but private social network site like Yammer deliver private and secure networking and communication facilities for the employees, within the departments or in geographically dispersed offices. This can assist them in distributing, receiving and sharing important information across in a timely manner. Establishing two-way communication- Social media platforms have strengthened collaboration like never before. At the same time it is important for the management to endeavor the flow of credible information by preventing discontent and confusion to grow among its employees. It needs to establish a mechanism that delivers the voice of truth- a reliable, authoritative and authentic source of information. This ensures that the employees can not only share information and voice their opinions but also obtain relevant information. Social media can also be used to deliver customize packages relevant to each customer. It can provide them personalized experience

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References:
http://www.eresourceerp.com/Real-time-business-has-become-cost-effective.html http://www.netsuite.com/portal/resource/articles/erp/what-is-erp.shtml http://www.themeparkinsider.com/reviews/universal's_islands_of_adventure/dudley_doright's_ripsaw_falls/ http://www.personal.psu.edu/glh10/ist110/topic/topic02/topic02_05.html Gary White,Chair and Ellysa Cohay, Marketing communications and Outreach plan, 2007/2008

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