Marketing Principles for Hotel Hyatt: Elements, Segmentation, Targeting, and Competitive Advantage

Marketing principles

Table of Contents
Introduction................................................................................................................................1
TASK 1......................................................................................................................................1
1.1 Explain the various elements of the marketing process...................................................1
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization.. 2
TASK 2......................................................................................................................................2
2.1 Show macro and micro environmental factors which influence marketing decisions.....2
2.2 Propose segmentation criteria to be used for products in different markets....................4
2.3 Choose a targeting strategy for a selected product/service..............................................4
2.4 Demonstrate how buyer behaviour affects marketing activities in different buying
situations................................................................................................................................5
2.5 Propose new positioning for a selected product/service..................................................5
Task 3.........................................................................................................................................6
3.1 Explain how products are developed to sustain competitive advantage..........................6
3.2 Explain how distribution is arranged to provide customer convenience.........................6
3.3 Explain how prices are set to reflect an organization's objectives and market conditions
................................................................................................................................................7
3.4 Illustrate how promotional activity is integrated to achieve marketing objectives..........7
3.5 Analyze the additional elements of the extended marketing mix....................................7
4.1 Plan marketing mixes for two different segments in consumer markets.........................8
4.2 Illustrate differences in marketing products and services to businesses rather than
consumers...............................................................................................................................8
Conclusion..................................................................................................................................9
references.................................................................................................................................10

INTRODUCTION
Marketing principles can be outlined as a procedure of act value of product and
services to consumers along with decent quality and brand which will lead to marketing of
that product (Nwankwo and Gbadamosi, 2010). Business organization will get a combative
advantage over their challengers. This report is based on evaluating different elements of
marketing process. Further, this report showcases the macro and micro environmental factors
which will influence the marketing decisions. Moreover, this study will also have its
significance on focusing on different services of hotel Hyatt which will lead organization in
order to get the competitive advantage over other hospitality industry.
TASK 1
1.1 Explain the various elements of the marketing process
The There are different types of elements which hotel Hyatt consists of and some of
them have been discussed as below:
 Micro-macro factors- Hotel Hyatt has to adopt some major strategic tool in
order to give their competitors a tough competition (Ruckman, Saraf and
Sambamurthy, 2015). In order to accomplish this, cited organization can
implement SWOT analysis, PESTLE analysis, Ansoff’s matrix and Porter’s
five forces model for judging the effectiveness of organization.
 Purpose and goals- Hotel Hyatt has set their marketing objectives in order to
gain higher profits and revenue. Further, goals and objectives of company are
quite different from their major competitors and firm is focusing on giving the
best of apparelling deals to their large customer base in order to develop
healthy brand image (Huang and Sarigöllü, 2012).
 Marketing Mix- Mentioned firm’s essential element for marketing strategy is
the marketing mix and Hotel Hyatt has set their services, price, place,
promotion elements by considering the income group and demand of
customers.
 Market segmentation- Hotel Hyatt’s market is large as mentioned hotel is
producing quality of services and different types of rooms to large customer
base. Further, the hotel opt different types of segmentation for attracting
different income group and their taste and preferences towards the hotel aura.
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1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization.
Market orientation is an enterprise model for system which generally focuses on
delivering high quality of services at an affordable price to consumers. Hyatt in order to
attract customers can produce services either with services oriented or market oriented
concept. Service oriented concept is the one where organization develops services according
to their own wish. On the different side, market oriented concept is the one where corporate
produces only those types of services which are mostly demanded by the customers.
Moreover, costs and benefits of hotel industry have been explained. They are:
 Benefits: By incurring higher cost on both advertisements as well as on promotion,
Hyatt gets many benefits as it is able to achieve the hearts of large number of
customers. Once developed, customers will always be there for Hyatt if the hotel
would satisfy the needs and demand of customers in an efficacious manner (Rosen,
2009).
 Expenditure: In order to increase the sale and productivity off their hotel services,
there are different costs which usually Hyatt spends in order to develop a particular
service in the market. Furthermore, administration has got healthy trust of their
customers from whole over the world because Hyatt spends a lot of money in the
market research. Moreover, in order to develop healthy services in the market, Hyatt
usually do healthy advertisement expense which helps hotel in order to increase the
sale of their rooms, their food and different services.
TASK 2
2.1 Show macro and micro environmental factors which influence marketing decisions
Micro environmental factors are the factors which are linked with the hotel and can
significantly influence the performance of Hyatt. SWOT analysis of the hotel has been
deliberated:
 Strength: Hotel’s strength is their services and their hotel branches as Hyatt is having
almost 42 chain of hotel around the globe. Moreover, Hotel is considered as one of
the branded hotel chain in the world. Hyatt’s supply chain management is of very low
cost and their major operations like manufacturing and operations are integrated with
it. Furthermore, hotel's services are trendy as well as with beautiful aura.
 Weakness: Though Hyatt’s customer base has an immense trust on hotel’s services,
this is the only reason because of which hotel uses unusual strategy for the
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