Hospitality Management Assignment - Thomas Cook

Added on - Dec 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 15 pages
Management in hospitality
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK1.............................................................................................................................................1
AC .1 concepts of marketing..................................................................................................1
AC1.2 Impact of marketing environment in industry............................................................1
AC 1.3 Relevance of consumer market in industry................................................................2
AC1.4 Different market segments..........................................................................................3
Task 2...............................................................................................................................................3
AC 2.1 4P's of marketing mix and how it is applied to Thomas Cook.................................3
AC 2.2 Pricing strategies and policies....................................................................................4
AC 2.3.....................................................................................................................................5
TASK 3............................................................................................................................................5
AC 3.3 sale promotional.........................................................................................................5
AC 4.1 Market research.........................................................................................................6
TASK 4............................................................................................................................................7
3.2 Advertising campaign.......................................................................................................7
4.2 Undertaking market research............................................................................................7
4.3 Suitability of different media............................................................................................8
4.4 Implementation of the marketing plan.............................................................................8
Conclusion.......................................................................................................................................9
REFERENCES..............................................................................................................................10
INTRODUCTION
This project contain discussion about different concepts used by hospitality management
for marketing further it discuss about impact of micro and macro factor of economy in industry,
relevance of consumer market in industry, advantages and disadvantage of consumer behaviour,
different market segments, 4p's of marketing mix andhow it is applied to Thomas Cook,
pricing strategies and policies,sale promotional activities, public relation used as promotional
tools, market research, classic tour package for middle class family in UK. primary and
secondaryresearchusedinproducts,suitabilityofdifferentmediainmarketingand
implementation of plan.
TASK1
AC .1 concepts of marketing
Marketing is activity that is associated with buying and selling of products and services. It helps
to satisfy needs and want of customers (Lovelock and Patterson, 2015). This process includes
selection, designing of products, after designing price of product is determined, and further
goods are delivered to customers.
Some concepts of marketing are as follows:
Product concept:this concept helps to understand different dimensions of product. They spend
lots of time to investigate, so that they can target particular group of people (Goworek,
McGoldrick and McGoldrick, 2015). This concept is based on idea, that customer prefer quality
products.
Selling concept:customers will not buy product of any company unless they make efforts to sell
it in market. They should focus on selling and promoting of products for marketing success.
Marketing concept:this concept helps to analyse needs of customers and make efforts to full fill
their needs. this concept is adopted by many firms (Kotler, Harker and Brennan, 2015)
Societal marketing concept:It suggests that society interest should be considered before
making any marketingdecisions.. This strategy focus on long term interest of company.
AC1.2 Impact of marketing environment in industry
Micro factors
Competitors:this is one of the important factors that company should consider; industries are
growing on large scale. Initially, any firm will have to face competition from existing firm.
1
Customers:Anenterprise must satisfydemands from customers (Brown,2016). Every
business conducts research study to analyse behaviour of customers and offer products according
to their needs.
Suppliers:a company can deliver goods only if suppliers are willing to supply that product. To
operate in efficiency, balance between demand and supply of product should be maintained.
Macro factors
Politicalfactors:politicalfactorsmeangovernmentrulesandregulationsthatare
uncontrollable. Change in these factors can adversely affect any firm and if they want to
minimise the effects of such changes then to analyse environment study should be conducted
Economic factors: this factor consists of inflation, deflation, exchange rate, currency exchange
rate etc. this factor plays an important role in growth and development of company.
Technological factor:These factors depend upon change in technology. Technology change
according to need of society, these changes can adversely affect business environment. It helps in
increasing productivity of business, minimises cost and distribute cost (Shaw, 2016 ).
AC 1.3 Relevance of consumer market in industry
Consumer behaviour is the study of an individual and all the activities related to purchase of any
product. It is a way to analyse consumer’s attitude that may response emotionally, mentally or
behaviourally.
Here are some advantage and disadvantages of consumer behaviours:
Advantages
This helps to satisfy consumers by designing products according to their demands.
To decide that weather the product will be easily available to customer.
The price which consumer is willing to pay is also decided by this.
This helps to find out the best process of promotion to attract public.
To understand the factors that will influence buying decisions of customers.
Disadvantage
Inconsistency is one of the biggest disadvantages because consumer-buying products
according to their behaviour will not apply same process in every product.
Sometimes buyers have limited interest in the decisions regarding purchase of product.
People with less interest in product, spends less money in buying it (Malhotra and
Peterson, 2014).
2
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access