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Marketing Essentials of Lancaster Gate Hotel

   

Added on  2020-10-17

24 Pages4287 Words119 Views
Assignment Title: Marketing EssentialsUnit Number and Name: Unit 2: Marketing EssentialsUnit Leader: Mr Peter EmeloneStudent Name:Student ID:Submission Date:1

Table of ContentsIntroduction......................................................................................................................................3Section 2..........................................................................................................................................4Part A...........................................................................................................................................4Overview of “Lancaster Gate Hotel”...........................................................................................4Overview of “The Imperial Hotel”..............................................................................................47p’s Marketing mix......................................................................................................................5Marketing Plan.................................................................................................................................9Smart objectives of the marketing plan........................................................................................9Situation analysis.......................................................................................................................10PESTEL Analysis......................................................................................................................11SWOT analysis..........................................................................................................................13Marketing Strategies......................................................................................................................14The marketing mix (4p) of “Lancaster Gate Hotel.”.................................................................14STP (Segmentation, Targeting and positioning)........................................................................16Competitors................................................................................................................................17Budget............................................................................................................................................18Research Method...........................................................................................................................19Stakeholders of the plan.................................................................................................................19Required source.............................................................................................................................20Probable risk..................................................................................................................................20Conclusion.....................................................................................................................................21References......................................................................................................................................222

IntroductionThe report is contained of the factors and aspects of marketing essentials. Marketing essentials isvery much essential and necessary for all types of organisation. Marketing is about creatingvalue, making a profitable relationship with the customer and satisfying the need of thecustomer. For providing a clear view of this report and fulfilling the requirements of marketingessentials, “Lancaster Gate Hotel” is selected. The 7ps of the marketing mix, along with amarketing plan, will discuss in the report according to “Lancaster Gate Hotel.”3

Section 2Part AOverview of “Lancaster Gate Hotel”“Lancaster Gate Hotel” is situated in London and one of the fast-growing hotels in the hospitalityand tourism industry. The environment, structure and service of the hotel are so impressive.Several rooms are there like deluxe rooms, suites, family rooms etc. A fabulous lobby, resort,restaurant and also bars are embedded inside the hotel (Sullivan, 2018). With the propermarketing strategies along with the best service, they are winning the heart of their customers. Overview of “The Imperial Hotel”For the comparison with the “Lancaster Gate Hotel”, in this report “The Imperial Hotel” hasbeen selected. Imperial Hotel is situated in the central of London. It is giving tough competitionwith “Lancaster Gate Hotel”. Along with high decorated rooms, lobbies and others, it has alreadyintroduced casino, gift shop and others inside the hotel (Arnold et al., 2019). It has always beenproviding service at a low cost. Customer satisfaction is also one of the objectives of this hotel.4

7p’s Marketing mixFig 1: 7p’s of Marketing MixSource: (Rafiq and Ahmed, 2018)Product“Lancaster Gate Hotel”The main product of the hotel is to provide customer luxury hospitality service. Tourists,businessman and several people visit this hotel every year for their activities. The hotel hasluxury rooms, resort, restaurants etc. The best part of the hotel is the employees are always readyto provide service in time (Guthrie et al., 2018). Several events like a business meeting,conference, national summit and other significant events are also hosted by “Lancaster GateHotel”. Modern technologies are used in every single room of the hotel.“The Imperial Hotel”As it is already aforementioned that this hotel is giving a tough competition to the “LancasterGate Hotel”. Therefore, similar products like hospitality service, satisfying the needs of thecustomer etc. services are providing (Guthrie et al., 2018). The room of the hotel is well5

decorated and consisted of air-conditioning, Wi-Fi, TV, PlayStation for kids, laundry servicesetc. It has also bars, gaming zone inside the hole which provides the customer to have somerecreation.Price“Lancaster Gate Hotel”Pricing is a little bit higher than “The Imperial Hotel”. It is the bitter truth, and the fact is that thehotel is always looking forward to providing premium services to the customers. The targetpeople of the hotel are mainly upper-class people, upper-middle-class. The hotel offers luxuryservices, and therefore the price is a little bit high (Presbitero, 2017). It costs around €100 for oneday in a standard room. The luxurious room and luxury suits cost about €150 for a day.“The Imperial Hotel”In the pricing strategy, it has been following differential pricing strategy. Like, its regular roomprice for one day stand around €70-€80 (Presbitero, 2017). But, the price of its luxurious roomsis more than “Lancaster Gate Hotel”. Elegant rooms and suites are cost around €160 - €200. Themain objectives of this hotel are to provide the best service at a lower price to the customer.Therefore, it takes that amount of money according to the class of people, but it always providesthe best service to their valuable customers. Place“Lancaster Gate Hotel”“Lancaster Gate Hotel” is situated in London and the place of the hotel is in an excellentposition. The surrounding environment of the business is so attractive, and therefore, touristsalways provide high value to this hotel. It is embedded on its owned property. The surroundingof the hotel is so calm and harmony. Therefore, a businessman, along with tourists visit everyyear to deal with their meeting activities. People booked rooms over the phone call, throughwebsite, agency or from social media platform. 6

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