Marketing Strategies in Hospitality

This assignment delves into the application of marketing strategies within the hospitality and tourism industry, focusing on achieving a competitive edge. Students are tasked with analyzing the 4Ps of marketing (Product, Price, Place, Promotion) and their influence on a company's overall success. The emphasis is on understanding how these elements contribute to firm value and drive competitive advantage in this dynamic sector.

MARKETING

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................3
Environmental Analysis..............................................................................................................3
Marketing Objectives..................................................................................................................5
Marketing Strategy......................................................................................................................6
Marketing Mix ...........................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

EXECUTIVE SUMMARY
From the above discussion I have observed that any company whether it is G.E appliance
or any other company it is very important to do marketing and such marketing shall be conducted
very carefully. It has been further observed by me in the above discussion that 4s of marketing
mix plays a vital role. It is very important for G.E appliances while launching any new product in
the market to understand that price is one of the important factor to be considered by the
company besides that Place, Product and promotions are another factor which will effect
marketing for product. It is very important for the company to understand the internal
environment which can be analysed by the application of SWOT. By such analyzation a
company shall be able to understand its weakness and threats by which it became an easy job for
the organisation to incurred profits for the company.
INTRODUCTION
The concept of marketing mix is a well blended mixture of the components which are
liable in creating the picture of a well developed and successful business organization. The
concept is more concerned with the research to be carried for the needs and wants of the
consumers and then providing the products and the services accordingly. These principles help a
corporation in the maintenance of a sense of discipline and provides well formatted structure of
blue print for all the operational activities to be carried out in an organization. The present
scenario is focused on GE appliances which is one of the well established brand in various sector
as the company is diversified in the context of the products and businesses. The below carried
out analysis is based on the environmental analysis which has been carried out on the internal
viz. Strength and weaknesses and external viz. opportunities and threats. Moreover the
marketing objectives of company has been explained and also the marketing mixes has been
elaborated.
Environmental Analysis
GE appliances is a international private company in USA . It deals in all appliances
products like kitchen appliances,refrigerators,dishwashers etc.. It is numbered in the globally top
fifth rank in the Dishwasher and large cooking appliances. GE appliances deals in the
monopolistic market where there are many numbers of buyer and sellers. There are so many
competitors of GE appliances e.g. Samsung, Philips etc.. In appliances market every company

sold same products but they differ from the size, quantity, quality, warranty period, prices etc.
Now we will discuss SWOT analysis of the company (Palmatier, R.W., and et.al., 2009). Here,
S- Strength, W- weakness, O- opportunity, T- threats. Strength and weakness are the internal
factors of the organisation. Opportunities and threats are the external factors for the organisation
which is very complicated for the company to know these factors. Now, SWOT analysis of GE
appliances are as:
Strengths:
1. This company works in a team groups or individual and works are allocated to the each
employees so that work can be done on time.
2. Reasonable prices of the appliances so that customer can easily afford to buy.
3. It provide new innovation products on time to time according to the generation changes.
4. It provides the quality procedure and process so that customer can easily understand
about the product.
5. The company take care of their employees on time to time and motivates them to
complete the work on time (Verhoef and Leeflang, 2009).
Weakness:
1. Sometimes prices go high for the customers to purchase the product and customers shifts to
other product of the company to purchase.
2. Every year the sales revenue decreases or increases. In other words, every year sales revenue
does not increases.
3. It sometimes does not manufacture those products which are in the habits of the consumers.
4. It has a complain regarding the poor quality of goods and services which may damage its
reputation in the market.
5. The store of the GE appliances are not properly allocated so some customers don't know about
that GE appliances products are their or not.
6. In GE appliances there is no perfect market expertise to advertise the product in the
market (Shiv, Carmon and Ariely, 2005).
7. In team work it does not provide proper training to the employee's to sale the products.
8. Sometimes it cannot adjust with the rules and regulations changes by the company.
Opportunities:
1. To develop the market expertise so that customers should know about their products.

2. Prices should not go high or low so that customer can buy the product.
3. It should provide the proper training to their employees according to the market changes
conditions.
4. The company should do merger or acquisition of other companies so that it will helpful in the
increase the goodwill of the company.
5. the company should manufacture those products which can compete in the market of the other
companies.
Threats:
1. New entries of the new competitors in the market (Goi, 2009). It will difficult for the company
to beat the new competitors because already there is competitors companies like samsung, L.G,
etc.
2. The shares prices of the company consistently constant through out the day, weekly etc..
3. The price should be maintained according to the other competitors of the product.
4. If government changes policies suddenly then company also adjust with the government
polices. So that it can beat to the other competitors.
In last the company should differentiate its products from other companies and should provide
good services to their customers regarding the defat in the products. The company should
provide their services stores easily. The SWOT analysis of the company is very necessary to see
the position of that company in the market and where it can go in the future.
Marketing Objectives
The concept of marketing is essential for the organization as it wants to raise awareness about
itself, its products or its services (Ivy, 2008). According to the fact, "He who has a thing to sell
and goes and whispers in a well is not as apt to get the dollars as he who climbs a tree and
holler." Regardless of whether it's dollars you're after, having clear, established goals in getting
the word out will help you successfully implement a marketing plan. The group of the goals and
milestones set by the when promoting its products or services to potential consumers that should
be achieved within a given time frame. A company's marketing objectives for a particular
product might include increasing product awareness among targeted consumers, providing
information about product features, and reducing consumer resistance to buying the product.
The first marketing objective which has been provided the most priority by GE appliances is to
increase the sales and also the profitability of the firm.

The company has also decided to create an awareness in the market at a huge scale and also
invigorating interest in a product that has been on the market for a long time or about which
people have long-standing attitudes (Constantinides, 2006).
GE appliances wants to set and establish and want to become Become one of the top three brands
in our industry named among consumers.
And the last but no the least objective is the satisfaction of the consumers by providing the best
quality of products and services.
Marketing Strategy
Marketing Strategy is a process in which all the aspects of the sales activities are
combined it in such a way so that all departments should know what it going on in the market.
The best way to boost up sales and gain leverage over the competitors in the market is also know
as marketing strategy that also allows the organization to focus on the available resources. We
have to first determine the business goals for marketing strategy. There are 15 marketing
strategy which makes the process more easy by following them. Some of them are as follows:
1 Help customer solve the problem(Peter and Donnelly, 2011)
2 Let customers interact
3 Experiment with new ideas and plans
4 Collaborate,have fun
5 Involve the employee
6 Target customer
An organization which combines all its goals into the comprehensive plan is strategy of
marketing. A marketing plan is the foundation of the marketing strategies.
Segmentation is a process in which we find out what kinds of consumers with different needs
exist in the market. According to a range of variables groups of buyers are divided according to
the profiles which becomes easy to determine the tendencies and characteristics. Segmentation is
a part or a process where the consumers requirements,interest and needs are brought together in a
small group which is called as 'Segment' For example; consumers demands about performance
and speed in the auto market and even are also concerned about safety. Its a process based on
some of shared characteristics which is divide a broad business market which normally consist
of potential customers which is called as segments. Segmentation is a part of marketing strategy

in which many types of different programs are required like price,promotions and offers so to
design the most profitable segments and earn good market value.
Targeting means to focus on the steps through which the product is to be introduce in the market
by evaluate every segment attractively so to achieve the target of the company. Targeting is also
equally important to overcome the success of the organization. Targeting is the way to beautify
the product in the market by pricing,promotion and service and much more cost effective which
also provides focus on all of the marketing activities (John G. Beech, Chadwick, 2007). Evaluate
the potential and commercial segments are as below:Money,difference,criteria size,accessible
and focus on different benefits.
Positioning includes techniques like price,band and product which includes to be a successful
way. Its a aim or a goal to make the brand or the product a distinct position,relatives to compete
brands in the customers mind so that the setup is built before buying the product. It also include
the developing of marketing programs for every segment.
Marketing Mix
Marketing mix are the different kinds of choices made by the organization to introduce
the product in the market by modifying it in the attractive way. Market mix is a place to start
your business by using your creative and imaginative product and to make the customer satisfied
by full filling the customers desirer. In the marketing mix many different ways are used to
introduce the product so the that consumer understands the quality of product. When the
customer achieves his needs in a less prise and in a quality then automatically the demand get
higher each day (Ivy, 2008). A marketing mix is a classification for developing an effective
marketing strategy. Marketing are the activities related with buying,selling of the product in the
market by different ways and plans.
Like for an example:people go for shopping things at different places and get irritated very soon
so as we all know now a days many hand looms are opened so that people can purchase the
goods under the single roof. In marketing mix there are 4P's which play a very important role to
improve the marketing of the product launch. Marketing should always be done by planning
different steps before launching the product in the market. One should have the knowledge of the
people's choice about the product,so the company can produce the wished product. 4Ps are the
parts which are involved in the marketing of the service given to the customer (Peter and
Donnelly, 2011).

4P's are:Product is the service provided by the company to the market to reached the need
of the demand to the common person and the product should be compelling so the that consumer
thinks its need is necessary and buys it. Product should be made according to the choice or the
need of the consumer and satisfy them.
Place is the other part of marketing mix which plays an important role to rise the graph in
the business of the product. The GE appliances should deliver the product in the metro places to
increase the productive by giving proper promotions. Like,as if we all know that if the person is
well qualified then its easy to understand the product properly so,its necessary to have the area
knowledge before promoting the product in the market to achieve the selling rate. If we have the
proper area knowledge it will be much easy to learn about the needs of the people. Price is the
cost which a consumer pays to the purchase of the product of GE appliances (Goi, 2009). Some
times when the price is high the production starts getting less and cause loss in market. To sell
the product because of the loss the company as to introduce more attractive offers and do cross
selling or up selling in the market to be stable. Promotion is the most important part of
marketing mix through which the company introduces itself and promises to full fill the demands
of them. Promotions are mainly done by advertising,public relation and promotional strategy
which helps to know the actual needs of the people. Like for an example:a company launches a
chocolate in different colour packing to attract the kids by giving an cartoon add in the t.v
advertis so the kids ask to purchase and rise the selling of the product (Ivy, 2008).
Market is the place where we find variety of products with different price tags on them.
Marketing mix is also used as a tool by the marketers to determine a product or brand offering.
There are 7Ps which make the marketing mix much more easy to the company.7Ps
are:Product,Process,Place,Price,People,Promotion,Physical evidence.
Physical evidence contains sales,staff contacts and knowledge of brand,Product packing,Online
experience (Constantinides, 2006). Firstly one should have proper knowledge of the brand which
is going to be launched in the market by the company,so that it will be to make understand to the
public in the easier form.
Promotion is the for most work done for the launch of the product in the market to seek attention
from the consumer. If the promotions are good enough to put an impact on the consumers mind
its sure that the sale will increase. Sometimes the company also introduces attractive offers to

pull the attention of the customer and increase the foot falls in the the mall or shop. Promotions
are done on social media,blogging,advertising on t.v ads and posters.
People are the most important element in the marketing mix to any service. Personal selling and
customer service helps in the marking. There are different kinds of salesmen who do selling,up
selling and crossing selling (Peter and Donnelly, 2011).
SWOT analysis :-
It is the tool or the instrument by which GE appliances can analyse or evaluate the market
so that they improve the performance in the market.
Strength – the company have to make the capabilities of the research and development with the
strong workforce in the whole world. The company have the revenue system which is well
balanced among the different sectors and can reduce the business risk. The company have to
make the products which is innovative and made by the new technology.
Weakness – The company depends on the third parties for the raw material so that they can do
the proper concerning about the products (Churchill and Iacobucci, 2006). They have to make
the strong brand and they have to do the targets of the product for the litigation so that they can
resolved the minor issues.
Threats – the company have to do the acquisitions in the world and have to buyouts so that can
improve the existing business. They have to grow the demand for the commercial so that they
can attain the success. They have to make the new contracts so that they can boost up the growth.
They have to emerge the economies that they have a huge scope that they to provided the
infrastructure so that they required to build.
Opportunities – the company have to follow the rules and regulations so that they can make the
norms for the regulatory which affect the operations. It is a powerful global brand which have a
economic and political risk. They have to increase the security so that they can face the issues.
The company have to fluctuate the currencies so that they can affect the business in the whole
world (Wilson and et.al., 2012).
CONCLUSION
From the above carried out analysis it can be included that GE appliances is a business
corporation which has diversified its business activities in various sectors and has maintained a
consistency in building its image. The further study is carried out on the environmental analysis
which comprises of (SW) that are the strength and weaknesses which are to be considered in the

internal environment of the company and (OT) that are the opportunities and threats are to be
included in the external environment. Moreover the marketing strategies are to be explained for
the Robotic Vacuum cleaner which is a brand new product and the company wants to establish
its market worldwide. Further the marketing mix for GE appliances has been explained of which
the 7p's are the main components.

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Online
The Marketing Mix and the 4Ps of Marketing, 2016, [Online]. Available
through<https://www.mindtools.com/pages/article/newSTR_94.htm>. [Accessed on 9th
November].
The marketing Mix, 2016. [Online]. Available
through<http://www.bbc.co.uk/schools/gcsebitesize/business/marketing/
marketingmixrev1.shtml>. [Accessed on 9th November].