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Importance of Components of the Marketing Mix

   

Added on  2020-06-05

14 Pages4341 Words82 Views
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Marketing in hospitality
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Concepts of marketing for a relevant services' industry.......................................................11.2 Impact of the marketing environment on the industry..........................................................21.3 Evaluate the relevance of consumer markets in the industry................................................21.4 Developing different market segments.................................................................................3TASK 2............................................................................................................................................42.1 Importance of components of the marketing mix to the industry.........................................42.2 Pricing strategies and policies in relation to the industry.....................................................5TASK 3............................................................................................................................................53.1 Role of the promotional mix.................................................................................................53.2 Plan an advertising campaign for a services'industry operation.......................................................................................................................63.3 Role that sales promotion andpublic relations play in promotional efforts...............................................................................6TASK 4............................................................................................................................................74.1 Relevance of market research toservice industry operations.........................................................................................................74.2 Market research for an appropriateproduct or service.......................................................................................................................74.3 Suitability of different media formarketing an appropriate product or service..............................................................................84.4 Implementation of the marketingplan for an appropriate product or service.................................................................................8CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10
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INTRODUCTIONMarketing is one of the most important part for improve external environment. Inhospitality sector is useful and increase number of customer in market. Hospitality marketingtakes a look at how segments of the hospitality industry like Airline. On the other hand, salepromotion and public relation is use for promotional efforts. This report is based on BA BritishAirways. The company located in United Kingdom and provide different kind of services inAirline industry (Walker, 2016). Further, it covered pricing strategies and policies in Relation tothe industry. In addition, market research and market plan is improve overall development andincrease profit rate. Moreover, it focuses on marketing environment is give positive impact forindustry and increase profit rate. TASK 11.1 Concepts of marketing for a relevant services industryMarketing is the process of getting a company product of services top the customer inmarket. It is one of the most important part and make some changes in overall development orincrease profit rate. To be focus on customer need and wants is most essential for Airlineindustry. On the other hand, modification is based on need of customer in market and make somechanges in profit rate. There are some customer need is most important part and make someimprovement as per want of customer (Kandampully, J and et.al 2015). In addition, customer isneed Wi-Fi, setting facility and price factor. All such kind of three factors is most important, socustomer is easily used them. All such kind of factor is useful for improvement in market share. Price :- It is one of the most important part for each and every customer. Price is set asper market structure and need of customer in market place. Quality of services :- This is another most useful for Airline industry, provide quality ofservices to each and every customer and increase market share. Customer is attracted, ifthey provide best services in the least pricer to be paid for it. Technology :- To be focus on technology is most important part and make some changesin overall development or improvement in market share (Leung and Stahura, 2015). Onthe other hand, technology must be used to improve market environment. These strategiesare help to increase number of customer in market. Customer relationship management is to be focus on relationship marketing and make somechanges in overall development and improvement profit rate. To be show customer loyalty and1
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long term customer engagement with company in market place. This marketing strategies isuseful for improvement in market. 1.2 Impact of the marketing environment on the industryMarketing environment is one of the most important part and make some changes inoverall development of organisation. There are some factors, which is give direct impact on BABritish Airways organisation. In addition, make some changes in overall development andimprovement in growth rate and future improvement (Legrand, 2016). In this context micro andmacro environment must be change and increase profit rate in market. In this way, managementissue and other problem is used to increase growth rate and development of market condition. Inmicro environment is to be focus on owner, stakeholder, customer and legal residence are to befocus on micro environment and make some changes in growth rate. On the other side, macro environment is incudes political, legal, social, technologicaland economic factor is useful of airline industry and improvement in external factor inorganisation. Some time political factor is give direct impact on airlines parties and improvementin market share. To be use law and regulation for future development and market research workis to be help for operation management in airline industry and make some changes forimprovement in market share. In this context competitors in market is one of the most importantpart and improvement in overall development in organisation growth. In this way, use some newstrategy's is related to market sector and make some change in overall development in market.SWOT analyses is most important part of organisation (Radojevic, 2015). Organisation strengthis help to capture new market and opportunities to increase overall profit in market place. 1.3 Evaluate the relevance of consumer markets in the industryThis is focus on consumer market is a customer is buy some products to for consumption,not for resale. So airline industry is focus on those factor which is satisfied customer and makesome improvement in market share. BA British Airways organisation is see customer need andwants and make some changes in overall development in market share and make some changesin overall development in market place. Client culture which along with consumer belief hasbecome some adviser' favouritism buzz phrases associate to instilling values and behaviours inan organization (Walker, 2016). It all starts with process those values, activeness and attribute.To be focus on each and every customer and focus on needs and wants of customer. Organisationis help to provide some extra benefit and remove extra stress of customer and make some2
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