Hospitality Marketing Essentials Report

HOSPITALITY
MARKETING
ESSESNTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1...........................................................................................................................................1
Covered in PPT ......................................................................................................................1
TASK 2...........................................................................................................................................1
P3 Comparability between the ways in which various hospitality organisations apply the
marketing mix to the marketing planning process to achieve business goals........................1
TASK 3...........................................................................................................................................4
P4 Basic marketing plan for Cosmos to meet marketing objectives.....................................4
CONCLUSION................................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
Marketing refers to action taken by businesses to increase the sale of the products and
services. It consists of all the activities like new product development, internal marketing,
marketing plan, telemarketing, market research, advertising,distribution of product which pulls
the interest of the customers and hold up a healthy relationship with them (Wakabayashi, 2018).
Marketing essentials are important for the growth of the business. All the business concerns have
understood the significance of marketing and customer relationships around the world. Today
every businessman wants to make best marketing plan for the development of their product and
services in the market (Waweru, 2015). Hence, the need of understanding marketing essentials
has become essential in the business world. This report depicts the need of marketing essentials
in the company Cosmos, the roles of the marketing unit and their association with other
enterprise functions. Cosmos is tour operator company headquartered in Bromley, United
Kingdom.
TASK 1
Covered in PPT
TASK 2
P3 Comparability between the methods of various hospitality organisations application of
marketing mix in the marketing planning procedure to accomplish enterprise goals.
Marketing mix refers to marketing tactic and strategy used by marketers to increase sale
of the business. Marketing mix is also referred as marketing tool which consists of the elements
like product, price of the product, geographical area, people, promotional material, physical
information of activity, procedure (Marketing mix, 2019). This model is strategic tool used by
the managers for determining the effect that marketing tools has on the sales of the company. It
is used by the company to promote brand or product in the market. It helps to determine value
for marketing mix elements.
The constituents of marketing mix are inter-related with each other and have an
influence on each other. The application of marketing mix assist to make up plan for marketing
to achieve the company objectives. Planning process of marketing requires lot of understanding,
consultation with several people, from customers to trade to manufacturing and various others
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and market research. The marketing mix of the two hospitality organisations Cosmos and
Vantage is given as follows:-
Particulars Cosmos Vantage
Product Cosmos is the tour operator
company. The services
provided by the company
includes travel packages, tours,
rail journeys in Europe ,
Mediterranean and other
destinations. River and ocean
cruises are newly added in its
product range.
Vantage is the tour and travel
company which provides the
services like locate areas for
sightseeing, book hotels,
reserve flights, transfer to
travel, receive limos, creation
of itineraries.
Price It determines the prices of its
services according to the cost
effectiveness, positioning of
services, duration of travel. It
uses psychological pricing
strategy.
The pricing strategy used by
the company is economic
pricing strategy. Prices are
manipulated by the company
as per demand and competition
in the market.
Place Cosmos provides its services
in almost 40 countries. The
vacation options begins from
lesser than $1000 per person.
The travel packages and other
services of the company are
booked through online and
travel agents available in
different countries.
Vantage makes the tours and
other activities available
through booking on a variety
of platforms. It has provided a
mobile-friendly website to
accept bookings and
reservations online.
Promotion It uses incredible offers and
discounts like in promotional
strategy. Some of them are
The company follows
promotional mix strategy
which includes promotion
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save $250 per person on 2019
Cosmos Idyllic Iceland (6990)
vacation, save $50 per person
on 2020 Cosmos vacations
worldwide on advance
booking. It uses social media
promotional strategy for
promoting its services.
through social media, sales
promotion, e-commerce, etc.
They have spread their
services all around the world
by following sales promotions
during demanding seasons. It
also provides special sales
offers during low seasons like
Mysteries of Angkor Wat and
the Mekong river thus saving
$2200 per couple..
People The company focuses on
customer satisfaction. To
assure this Cosmos focuses on
training their employees in
interpersonal skills to make
them customer service and
satisfaction oriented and to
have extensive knowledge of
the services provided by the
company.
Vantage company invests in
the right kind of employees for
operating the tour and
activities efficiently. It hires
entertaining and zealous
guides to attract customers
towards the company.
Process The process of the company
includes information of the
tour ,planning a tour,
contacting various service
providers needed during
travel , planning budget and
booking the desired ticket.
It includes making availability
of services as per scheduled
time, providing best
experiences to customers,
delivery of services and
smooth platforms for
reservations of tickets.
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Physical evidences Online and offline Travel
brochures, online portals, and
offices at U.K. , Europe,
Canada, Africa, South and
North America are available as
Physical Evidences.
All the relevant information of
the company and its services
are available at several offices
situated at Argentina, China,
Croatia, South Africa, Hungary
and on websites of the
company, travel magazines,
free travel app and tools and
resources of Vantage.
TASK 3
P4 Basic plan of marketing of Cosmos for fulfilment of objectives.
Marketing Plan- It forms and shapes marketing objective of an organisation and
implementing strategies to accomplish them. The requirement of best marketing plan are value
statement of the company, collective information pointing its target customers and areas,
influencive ideas about positioning of services and products in the market, promotion strategies,
distribution channels, and budget allocation and monitoring the plan.
Overview of the company:- Cosmos tours is the private independent tour operator
company situated in UK. It was founded in 1961. The company has connections with Globus
travel group. It has main office at Bromley, UK. The company provides variety of services like
travel packages, tours, River cruises, ocean cruises and rail journeys in 40 countries from 27
UK airports.
Mission of the company:- “COSMO is committed for providing qualitative Travel
benefits as well as continuous transfer of services. It follows concept of “KAIZEN.”
Vision of the company:-"Cosmo - The topmost Trek Company specially Smile with full
enthusiasm"
Objectives:- Cosmos objectives are to add new service of providing luxurious cars to
targeted people in the list of services provided to the customers to make ancillary sales, gain
competitive advantage, to engage more customers and increase profitability of the company.
 To increase its profits by 10% in coming 6 months.
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 To enhance its market share by 20% in coming 1 year.
STP approach:- It is the systematic strategic approach applied in marketing to increase the
connection with the different audiences available in the market, to compete with the competitors,
to increase the company sales.
Segmentation- This method finds out the base for fragmentation of the products of the
company into appropriate preferred places. Cosmos can be found in the places with high
population. Its products are available from various sources.
Targeting- In this process, the organisation discovers a proper market area to pull the
customers by providing attractive offers. Cosmos main reference are customers of above the age
group of 18. It is easy to influenced them by captivating advertising methods.
Positioning- This process helps to maintain the importance of products in the customers
knowledge. Cosmos provides attractive offers to their customers to compete with the
competitors. It positions its Luxury car services at market place with special reference to the
customer.
Marketing strategy:-
Marketing budget:- It is the financial planning with short span, this helps the company to plan
about utilising the funds in appropriate places in the business and helps in calculation the total
expenses to be occurred in the coming years. Cosmos uses budget plan to estimate its overall
funds in various organisational departments. Table shows the budget plan of Cosmos:
Marketing budget
Particulars Year 1 Year 2 Year 3 Year 4 Year 5
Initial capital 8000 10500 14000 15500 19350
Investment 13000 15000 30000 35500 15500
Total 21000 25500 44000 51000 34850
Marketing
spending
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Promotion 3200 3100 3300 3400 3250
Sales substance 2100 2000 2200 2400 2000
Direct selling 2500 2500 3000 3500 4650
Total 7800 7600 8500 10300 9900
The above budget plan shows the requirement of an investment for promoting the luxury car
service.
Monitoring and controlling the market plan:-It is the last stage for evaluation and control
of the marketing program. After applying it, there is need of evaluation on a regular basis and
checked as per the requirement of enterprise. In Cosmos, each and every plan is investigated on a
regular interval by the team of managers.
CONCLUSION
From the above given information, it can be concluded that marketing is known as one of
the almost significant function of any organisation. It helps the company to interact with its key
customers and inform them just about their product's features. It is very essential for marketing
department to execute responsibilities in effectual manner so that company can achieve its rigid
sales objectives. Every enterprise apply the concept of marketing mix according to the objectives
it wants to achieve. Further, marketing plan can be formulated by organisations to assure
effective promotion of its products and services.
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REFERENCES
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Marketing mix. 2019. [Online] Available through
<https://www.mindtools.com/pages/article/newSTR_94.htm>./
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