Table of Contents INTRODUCTION..........................................................................................................................3 MAIN BODY...................................................................................................................................3 LO 1................................................................................................................................................3 P1- Roles and responsibility of marketing functions...................................................................3 P2- Interrelationship between marketing and other function.....................................................5 LO 2.................................................................................................................................................6 P3- Marketing Mix to achieve business objectives.....................................................................6 LO 3.................................................................................................................................................8 P4- Marketing plan......................................................................................................................8 CONCLUSION.............................................................................................................................11 REFERENCES..............................................................................................................................13
INTRODUCTION Marketingreferstotheactivityofreachingtotheendcustomereffectivelyand efficiently.It leads withconverting the end customer of the company to purchase and buy the goods and services of the company. It is the activity of advertising and showing the products of the company in best possible way. Travelodgeis the leading accommodation service provider which is being based in London, United Kingdom. It is the private company operating in the hospitality and hotel industry (Travelodge,2019). It is the largest independent brand of hotel with over 570 hotel across the UK. Present report will address to explains the key roles and responsibility of marketing function and its interrelationship wit various other functions of the company. It will brief into the marketing mix of the company. Itwill lastly provide with basic marketing plan of the company to meet its marketing objectives of the company in unfavourable conditions. MAIN BODY LO 1 P1- Roles and responsibility of marketing functions There are variousroles of the marketing functionin Travelodge where it implies with Identifying the needs and wantsof its potential customer- Knowing what is being required on their part, conducting proper marketing research and developing the services accordingly. Ithelps in catering and satisfying the needs of the target customer more effectively. Marketers of Travelodge needs to identify its consumers and adapts to the marketings strategy accordingly. Theyinfluence the wants of the customers as these are being shaped by culture and personalities of individual. They role isthatthe needsof the consumers are satisfied with helps of exchange process (Laurie, Mortimer, 2019). Ensures growth, survival and reputation of the company- A business survives because of increase in the market share and retention of customers . Marketing of the company helps in ensuring the goals are being achieved and is customer centric. Marketingof the company helps in ensuring the customer are being satisfied beyond their expectation. Their role helps in ensuring and building positive brand image of the company which attract lot of customer toward purchasing of accommodation services of Travelodge. Widens the market-
Marketers in Travelodge use the tools of communication such as advertising, promotion, public relations and various others to promote theaccommodation services to its potential customers. This helps the company to build favourable and positive word of mouth and image. Setting up of right prices- Marketers biggest role in Travelodgeis concerned up with setting up of right prices, preparing a right approach and incorporating appropriate changes. It helps the company to ensure that exchange process is being favourable when the prices being set are in accordance with the same (Laczniak, Murphy, 2019). Creating utility – the role of the marketing function leads with creating utility of the services. It is the ability of of services of Travelodge to cater and satisfy the needs and wants of its target customers. Marketing of the company helps in creating place, form, time, possession and information utility. It helps the company to achieve its desired goals and objectives. There are variousresponsibilities of the marketing functionof the company such as Better offering of services- the responsibility of the marketing function is to ensure that accommodation services being offered by the company are able to meet and cater the needs and wants of its target customers. Services are being characterized by inseparability and intangibility. Thus marketing plays a active role inmanaging and designing the offering of services of the company (Rohm, Stefl, Saint Clair, 2019). Face competition – The responsibility underlines with facing competition in the complex and unfavourable condition. The responsibilities relates with making robust marketing strategy to face and win over the competition and not leading to a position where the competition can easily dominant the market position. Its responsibilities implies with the facing the competition in the manner which don't lead in acquiring the market share of the company which has direct impact on the sales revenue of the company. Demand management- Marketers of the company are highly skilled professionals who play majorrole in influencing the demand for the services of the company.A demand can be in many forms such as latent demand , no demand, negative demand, full demand , irregular demand and various
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other. Marketing responsibilities of the company helps in dealing with the different level of demand and meeting with the same. Discharging of social responsibilities- Rising with the expectation of customer, pressure from the government and degradation in the environment have forced the firm to practice higher level of social responsibilities.The marketing of the company ensures that its services are in accordance with the environment which helps in building positive brand image of the company. Growth of economy- Sincemarketingofthecompanyhelpsincreationofdemand.Demandcreates production and activities of distribution. It as a result leads with the growth of industry and income level due to generation of employment. This increases standard of living as a result boost up economy of the region (DiMartino,Jessen, 2018). P2- Interrelationship between marketing and other function. There is interrelationship between marketing and other function of Travelodge where all the department work in accordance to ensure that targets and objectives of the company are being achieved in favourable manner. Relationship between Marketing and human resource. The marketing department of Travelodge work closely with human resource . It is being stated that since marketing is reaching to the end customer more productively. Human resource of the company helps in ensuring that it recruits and select employees/ individuals who are being highly talented and qualified. By having employeeswhich are being recruited by human resource department of the company, it helps the firm to coordinate with marketing function to achieve the sales target and implies to conduct various promotional activities (Felix, Rauschnabel,Hinsch,2017). The marketing department of the company will need to closely work with human resource of the company to ensure appropriate skill and staffing level are in place of researching and developing ideas to new product. Incompliance with meeting with production targets, creating competent and ambitious teams of sales to makevarious services of the company available to potential customer. Relationship between Marketing and finance.
The marketing function of the company works closely with finance department.As marketing is concerned with doing various activities of promotion of services of Travelodge on various social media platforms and other means. Itrequires sufficient budget to ensure smooth flow of conducting various advertisement and other whereby the finance department ensure that the marketing function of the company is being achieved in prominent manner. The marketing department of the company closely work with finance department to ensure that, there is being adequate budget to cater the need distribution, promotion and research (Rajapathirana, Hui,2018). The finance department ensures that marketing of the company operates within its financial capabilities. It result with marketing to work within its allocated budgets. The marketing function of the company is likely to focus on sales revenue and building the market share, where as the finance department is more likely to focus around covering cost, cash flows and paying back of the investment as early as possible. Relationship between Marketing and production and operation management This two functions of the company work closely to ensure that adequate research and development is being planned to satisfy and meet with the needs of current and future potential customers. They arebeing interconnected as it ensures that services of the company arebeing of high quality and with laid down specification of its potential customer which meets with the objective of marketing function of the company. It is being also stated that volumes of order of accommodation services being generated by marketing department can be met with the time scheduled required for delivery on the end of production department (Sheth, 2017). It is likely that marketing function will set deadlines that may stretch up with the capabilitiesofoperationdepartment(Marketinganditsrelationshipwithotherbusiness activities,2018). Marketers of the company will wish to get its services in the market as soon as possible to get with the competitive advantage. The production will wantto develop and test services in manner which does not leads to replace defective items and replace which serves with quality standards and helps in meeting with the objectives of marketing. Thisinterrelationshipwithinvariousdepartmenthelpsinfacilitatingeffective organisational communication at the workplace, with better performance management. It leads with workforce and knowledge management in the company whereby it takes into consideration of data integrated facilitating effective flow of business operations.
LO 2 P3- Marketing Mix to achieve business objectives It includes Travelodge positioning by the means of having elements such as Marketing mixTravelodgeThe Led Burry ProductTravelodge offers accommodation and related services for the guest.Their products and services include fully furnished family room anddoubleroomwithvariousrangeof services such as WI- Fi, room services and others, As a budget hotel, infrastructure of firm ishighly standard and suitable for short duration. As businessman are among regular hotel occupants, Travelodge services are being so well designed to meet up with the needs of thepotentialcustomers(Travelodge: ComprehensiveBusinessAnalysisand International Expansion Plan, 2020). Therearevariousrangeof productwhichincludesveg and non veg food with multi cuisine.Italsoincludes servingvariousbeverages, cocktailsandMocktails which are of high quality in terms of taste that serves as the basisofattractinglarge number of audiences. PriceTravelodge is committed with providing best services at the cheapest prices, targeting low incomeandcasualtravellers.Itrunswith competitivepricing strategy whereby it offers specialoffersforearlybookingandother special deals. This further results in lowering down the prices of Travelodge services and result in increase in demand as for customer its serves as the basis to make decision for availing the services of the company or not (Andika, Susanti, 2018). The restaurant implies to adopt premium pricing strategy for providing its various products of the restaurant. It leads with targeting of high end society and potential customer which helpswithearninghigher profitmargins.Theprice range in the company varies with value added services such as extra WI-FI, parking and exclusive services where it get accumulatedinthecostof
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guest. PromotionTo appeal to the potential customers company leadstoadoptvariousadvertisingmodes which are being suitable for its relevant market . Besides with the rise in digitalisation and technology, company account to promote its servicesthroughvarioussocialmedia platforms which serves a effective meansof reaching to the end customer with cost and time effectiveness. -Ledburrychoosesunique promotionalactivitytohelp them to stand of the crowd. restaurantprovideswith exclusivemembershiptoits people.Thebestwhichis being followed in the company to keep the track on the results ofanystrategywhichhas givenstrongfeedbackto promotionalactivityofthe companywhichhelpsto achieve business targets of he company (Wu, Li, 2018). PlaceIt relates with the location of operation of Travelodge which are being convenient for its target customer to reach. It is being located in various region which are at the ease for target customer. This are being located near airports whichhelpsinmeetingwiththeneedsof business passenger and serve to them with there comfort (Thabit, Raewf, 2018).The company also wishes to expand its services in theregionswhereitsdoesnothaveits business operation as a result will helps the companytoacquirehugemarketshareall across the world. The restaurant chain ofLed Burry are being located at the places which are being at ease andconvenientforthe customer to visit which helps in spreading positive word of mouth.Ledburrywishesto expanditsbusinessinthe regions where it does not have its business operations which will helps in increase in the market share of the company PeopleThe employees of the company are being well qualified and talented that helps with meeting The restaurants employees are being trained in a manner that
tovariouschallengingtaskandsupport business business dynamics. helpswithmeeting,greeting and treating its customers ina mannerthattheyarebeing highly satisfied. ProcessesThe process in the company is well structures and in proper which helps in smooth business functioning that is being followed by proper flow of information in the company. Theguestoftherestaurants can usetheir own website or appfortheirbookings,the process eliminates the need for front desk. It is being focused onextracustomer convenience. Physical evidences This implies with company rooms that are being highly attractive and serve as best means of increasing markets share. It also includes, board rooms, swimming pool, banquets hall that comprise of physical evidence of company (Pomering, 2017). This includes bill and others. The physical evidence of the restaurants includes furniture, sofastoseat,lightingand others.The ambience of the restaurant also serve with the physicalevidencewhichis being highly attractive. LO 3 P4- Marketing plan Executive summary-Marketing plan has covered various things such as laying down of SMART objectives of company, with internal and external analysis by the means of SWOT and PESTEL analysis. It made with understanding of STP analysis of the company with brief understanding of marketing mix, budget and monitoring and evaluation by means of KPI and ROI. SMART Objectives ï‚·To increase the sale revenue of the company by 15% by end of 2022. ï‚·To make investment in technology by 20% by the end of 2023.ï‚·To increase the market share and customer base by 25% by end of 2025.
SWOT analysis Strength It lies with affordable prices, including rates for double and family rooms with various special deals such as early booking deals on on special occasions. The strength also lies with infrastructure which serves as of great ambience to attract customers. Weaknesses Travelodge does not equip its customers with whole range of services and products where it limit with variety of choices.Theweaknesses is hotels are often described as Plain looking and boring which as a result affect the sales revenue of the company (Han, 2019). Opportunity- It lies with opening its chain all across the region where it does not have its business operation as it will serve as meeting the needs and wants of the customers. Threat- The threat of the companylies with its competitors who can any day come up with strategies and policies which can threatens the business position andleads to loss of customer base. PESTLE analysis. Political – This lays down with political factors affecting the business operation such as BREXIT where the customer and market base of the company being highly affected in unfavourable manner Economical – This lays down various economic factorssuch as contribution to GDP , inflation, taxes, consumer expenditure and other which are being considered by the company to ensure the effective functioning of the business (Chernev, 2020). Social – Thisrelates with building relationship with the customer and addressing to their queries in suitable manner which leads with spreading of positive word of mouth amongst the society. Technological- This implies with company leading to adapt to high end technology which will helps the business with ease in operations and saves lot of efforts in concern with time and cost.
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Legal- This are the rules and regulation which are being prevailing in the region where business has it operation. No compliance to which may lead with various implications of penalties, restriction and discontinuation of the business of Travelodge. Environment – This includes factors which is being concerned with environment protection where it disregards measures to reduce carbon footprints and means to effective disposable of waste materials. STP analysis. Segmentation- It relates with demographic segmentation whichincludes criteria such as age, gender, income, education, occupation and other. It includes in the age group of 18-45 both males and females with low and medium income level who are being able to afford company facilities. Targeting- The company leads with targetingfrequent business passenger who serves as the means of potential customers for the company and by which company major sales revenues are being generated (Hollensen,2019). Positioning- Positioningleads with products and service strategy whichensures that it is being of high quality at a price which is being affordable for its target audience. It helps in building trust and loyalty of the customer which states the creation of position in the minds of target audiences. Marketing mix- Products and services- It implies with various room services for business and normal passenger. Services of board room to conduct various professional meeting and various other which encounters with product and service element of marketing mix. Place- This are being located near airport, city location which serves as easy and convenient mode for its passengers to reach and avail the services (Crompton,2017).
Price- The company set prices for its services which are being affordable for its target customers and at prices lower that that of its competitors which serves as the means to attract customers. Promotion- The company opt to promote its accommodation services through various social media platforms such as Twitter, Facebook and other which serves as cost effective means of promoting company services. Budget- Amount in Euros Marketing expenses202020212022 Social media advertising120001300014000 Promotion through website110001150012000 Payroll expenses250002600027000 Miscellaneous expenditures9000950010000 Total marketing expenses57000600006300 Monitoring and evaluation – Thestrategywillbemonitoredandevaluatedbydevelopingandknowingkey performance indicators such as sales revenue,profitability margins with the required objectives and goals. Key performance indicators also includesRevenue per customer-that is increase in customer base and revenue generated from them. Profit margin- the profit earned in past 5 years and comparing it with present year profit.To compare increase in customer in each of new service that is been offered. CONCLUSION From the above report it is being concluded that there are various things which needs to be considered on the end of the Travelodge to have effective marketing, which will helps in reaching to the end customer with increasein the market share. It is being briefed about with roles and responsibilities of marketing function in the organisation. It made to understanding of interrelationship of marketing with human resource, finance and operations in company.It has lastlybriefedwithcomparingmarketingmixofthecompanyandledwiththedetail understanding of marketing plan of the company.
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