Hospitality Marketing Essentials - Assignment Sample
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Added on 2021-02-22
Hospitality Marketing Essentials - Assignment Sample
Added on 2021-02-22
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Hospitality marketingEssential
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibilities of marketing function ..................................................................1P2 Roles and responsibilities of marketing function with other functional areas of organisation.....................................................................................................................................................3TASK 2............................................................................................................................................5P3 Comparison between different companies marketing mix ...................................................5TASK 3............................................................................................................................................8P4 Development of marketing plan ............................................................................................8CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing is a management process which is concern with promoting the company'sproduct or service by advertising, selling, delivering and building relationship in order to gainincreased level of customer satisfaction as well as acquire best position within competingindustry. However, marketing function is regarded as one of the essential element within everysector of establishment in terms of manufacturing, hospitality, production, service and so on.This is because it enables them to reach larger number of population in an efficacious andexpeditious manner that lead them to obtain profit maximisation with an optimal utilisation ofresources. Hospitality industry refer to those business group which encompasses several range ofservices like lodging, food and drink, event planning, accommodation, transportation, theme parkand etc. which are established with an aim of generating experiences and healthy relationshipwith customers in an improved manner (Ali and et. al., 2014). For this report, InterContinentalHotels Group has been considered which is one of the reputed hospitality UK company and it isestablished in the year of 2003. In this study, it involves roles and responsibilities of marketingfunction, interrelationship between marketing department with other functional areas as well ascomparing two organisation marketing mix. Finally, design marketing plan for accomplishingorganisation objective in a stipulated period of time. TASK 1P1 Roles and responsibilities of marketing function In each and every establishment, marketing plays a vital role as it considered as lifebloodof company because it helps them to improve its sales performance and profitability by placingthe brand in a best position which render them increased consumer satisfaction. In simple terms,marketing refers to those business activity which is related with identification, selling,distributing and promoting the goods or services among wide range of population for acquiringimproved customer relationship. Marketing process refers to an endless or continuous series ofprocess or actions which is mainly focused on building relationship between customer andcompanies in order to gain increased level of customer satisfaction. However, it has several rolesand responsibilities which enable InterContinental Hotel Group to accomplish its business goalin an effective manner and it is explained below: Roles 1
Establishing relationship: This determinant is viewed as one of the integral componentas it helps an organisation to examine customer taste and preference and also encourages IHG'smarketing function to offer relevant product that help them to generate a strong customerrelationship for long term. Explore market size: Under this component, it helps IHG to determine existing oremerging market trend and based on that it lead them to take corrective course of action that helpfirm to expand their market size or share to different geographical region in an effective andefficient way (Bačík, Štefko and Gburová, 2014). Responsibilities Branding: The primal intent of every company's marketing section to fulfil therequirement of customer in a better way. However, this element help InterContinental HotelGroup to determine new marketing channel by adopting several strategies which help firm toreach wide range of population that benefit IHG to improve it sales performance and profitmargin. Tracking market competition: Under this phase, it enable IHG company to determine itsposition within marketplace. Therefore, marketing plays a crucial role in this at it aid firm toidentify its competition as well as encourage them to bring best solution in order to gaincompetitive advantage within prescribed time limit.Marketing concept including current and future trend Moreover, due to introduction of advancement and digital technologies within industry, itcreates intense level of competition among companies which directly impact over firm'sproductivity and proficiency Due to such rivalry, it alters consumer demand or need whichimpose huge effect over IHG volume of sales and brand value. Some of the current trend ofmarketing are IoT, digital marketing, online trading and so on that help concern to strengthen itsoverall performance. But at the same time, IHG is taking initiative to adopt more innovativetechnologies like omni-channel marketing, artificial intelligence, programmatic advertising,video marketing in order to obtain best positioning within market and also can easily cope upwith all sort of upcoming challenges in an innovative style (Baker and Magnini, 2016).Furthermore, marketing concept of IHG contains five elements which varies as per the currentand emerging trend of marketplace and that directly influence over firm's profit margin.However, IHG makes a decision to imply some automation technologies which help them to2
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