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(Doc) Hospitality Marketing Essentials Solved Assignment

   

Added on  2021-02-19

9 Pages2566 Words28 Views
Hospitality MarketingEssentials

Table of ContentsINTRODUCTION...........................................................................................................................3ACTIVITY-1...................................................................................................................................3Concept of marketing with current and future trends.................................................................3Overview of marketing processes...............................................................................................4Roles and responsibilities of marketing function in the context of McDonald's........................5Analysis of how marketing interrelates and influences other functional departments...............6Value and importance of marketing role.....................................................................................6Marketing-mix to achieve company objectives..........................................................................6Conclusions based on critically analysing the interrelation between functional departments....8ACTIVITY-2...................................................................................................................................8Covered in PPT...........................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONMarketing consists of all the activities of an organisation which helps it in promoting itsproduct or services in the market. For the success of any product or service in the market, it isimportant that it is communicated in the correct manner, to the right people, at the right place andon right time. In a hospitality industry marketing plays an important role in building the image oforganisations, attracting new customers and maintaining loyalty of old customers (Baker, 2016).Hospitality relates to creating experiences for customers and building relationships with them sothat customer satisfaction can be ensured by providing them the services they demand from thehospitality industry. Through this report principles of marketing, elements of marketing-mix,marketing plan etc. will be studied in reference to McDonald's which are used by it forinfluencing the customers to purchase their products. Different theories and frameworks will alsobe applied to understand the concept of marketing better.ACTIVITY-1Concept of marketing with current and future trendsMarketing includes all the activities of an organisation through which its products andservices can be promoted so that their sale can be increased and customer satisfaction can beachieved by creating value for the customers.Marketing concept is related to analysing the needs and wants of customers so that suchproducts or services can be produced which can help in achieving customer satisfaction withincrease in sales and profit maximization (Faßmann and Moss, 2016). This also gives companiesa competitive advantage in the market. The five marketing concepts are discussed below :Production concept: It states that customers usually prefer products that are easilyavailable and affordable.Product concept: Customers choose products of good quality, performance andinnovative features.Selling concept: Customers buy products or services if they are heavily promoted andadvertised.Marketing concept: Customers choose products of a company that satisfies their needsand wants better than their competitors.

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