This report discusses marketing management philosophies, principles of marketing, corporate social responsibility, ethics, promotional mix, and integrated marketing communications strategy. It also includes a marketing plan for Hotel Sea View.
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Part 1................................................................................................................................................3 Marketingmanagementphilosophiesandprinciplesofmarketing,corporatesocial responsibility, and ethics.............................................................................................................3 Marketing management philosophies......................................................................................3 Principles of Marketing...........................................................................................................5 Corporate social responsibility................................................................................................6 Ethics.......................................................................................................................................6 Promotional mix and integrated marketing communications strategy........................................7 Part 2................................................................................................................................................9 Marketing Plan.............................................................................................................................9 CONCLUSION..............................................................................................................................14 REFERENCES..............................................................................................................................15
INTRODUCTION Marketing can be defined as an activity, set of institutions, and process of creating, communicating and delivering value and exchanging offers that have value for customers. Retention of customers is concerned with retaining customers within organisation and getting business from a potential who has been customer of the organisation earlier. Retention of customers is very important as cost of attracting an existing customer is less compared to attracting a new customers. This report aims at discussing different philosophies and principles of marketing in addition to this report will also involve discussion regarding CSR and ethics. In addition to this report will discuss promotional mix and integrated marketing communication strategy. For the purpose of discussion report will contextualise Marriott Hotel American multinational diversified hospitality company, it was founded in 1927 and is headquartered at Bethesda, Maryland, U.S. Marriott hotel provides its services worldwide and in order to complete its activities company has employed around 174,000 employees. In second part of the report a marketing plan will be prepared for a proposed hospitality organisation that has been named Hotel Sea View. MAIN BODY Part 1 Marketing management philosophies and principles of marketing, corporate social responsibility, and ethics Marketing management philosophies Marketing management philosophies can be defined as those philosophies that are used byorganisationstoidentifyandfulfilneedsofitscustomers.Marketingmanagement philosophies that Marriott Hotel can utilise includes- Production Concepts- This concept or philosophy of marketing is based on production capacity and efficiency of the organisation. This philosophy considers that goods that are in excessive quantity and are available at cheap prices will always sell (Patsiaouras, 2019). This means that in
this philosophy it is believed that supply will create its own demand. In this organisations utilise the economies of scale and production and can provide huge quantities at lower cost and profit will come in number of goods sold. Product Concept- This concept and philosophy considers that rather than product quantity, product quality is important element that gets sold (Fokina and Barinov, 2019). This means that quality and innovation are important elements because of which products are sold rather than price and availability. This concept is also applicable on Marriott Hotel because in this philosophy organisation has to consider that it provides best quality product and services to its customers. In order to maintain high quality cost incurred in production and consequently price of product is also high. But Marriott Hotel will consider maximisation of profits by means of quality products. SellingConcept- This is another philosophy of marketing management in which even when price and quality of the product is according to requirements of customers even in such situation, sale is not guaranteed. This philosophy considers that in order to sell products and services to customers organisations require persuadingcustomers to buy products. In order to persuade customers companies and Marriott Hotel requires utilising different means like promotion, advertisements and publicity to convince customers. MarketingConcept-This is another concept and philosophy of marketing and in present marketing environment most of the organisations are managing their marketing considering this philosophy. This philosophy considers that customer is king and this is why when every activity is carried out Marriott it involves considering customers and on the basis of these different decisions are taken. This involves nature of services design of the services and other than these every process has customers in mind. SocietalmarketingConcept-This concept of marketing considers that sometimes needs of organisation and customers are not suited for society and this is why as per this philosophy of marketing company must ensure well-being of the society (Zhang and Wang, 2017). Marriott Hotel when follows this philosophy it should consider that its activities does not have any negative impact on society and still it is able to realise its object.
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Principles of Marketing Product- This is concerned with offering of the company. For product Marriott Hotel hospitality services and as per this principle every product should go through logical life cycle and this is important that organisations and marketers understand phases through which the product goes through(Porral and Stanton, 2017). Product in hospitality organisation is given through service and is of intangible, perishable, and is inseparable. This means that while providing services these elements should be considered by Marriott Hotel. Price- This is another principle of marketing and as per this principle price is value that is paid by customer in exchange of the service.Price of product or service depends on several factors that are cost of production customer demographic demand of product and brand image. It is important that on the basis of all these elements Marriott Hotel determined a price in which it can maintain it adequate profit margin. In addition to it is also important that customers and target market is able to pay the price of services. Place-Place is concerned with point of sale and this point of sale depends on the basis of service or product provided by an organisation. Marriott Hotel is in hospitality organisation and this is why it services can only be used at its hotel however in order to sale its services company can utilise online and offline platforms. This means that Marriott Hotel can utilise more than one point of sale. Promotion-This principle of marketing is concerned with Strategies and actions an organisation utilise to communicate with its target market and inform them about it services and value that it provides. This mainly includes Marketing Communication Strategies and techniques such as advertising sales promotion special offers and Public Relations of an organisation (Tontuș, 2018). Marriott Hotel also utilizes different strategies for promotion and in relation with promotion this important that content as well as channel selected for communicating is able to convey right message as well as enables organisation to place itself effectively in target market. People- Peopleinvolves important principle of marketing this involves different people who are involved in giving product and services to customers. This is a very important element of success of organisation that efficient people are able to effectively realise organisational objectives. This
is why it is very important that Marriott Hotel hires from right place and effectively train people to ensure customer satisfaction (Shulgina, 2017). Packaging- packaging is another principle of marketing this is concerned with how product or services are represented to customer. Good packing help organisations in stunning different from competitors and also attracting attention of customers. Process- Thisis another important principle of marketing this is concerned with how product and services are provided to customers. This involves all the key processes that are completed in order to provide product and services to customers (Eastman, 2017). For Marriott Hotel this includes process of booking and reservation room services and other Hospitality Services. Corporate social responsibility Corporate social responsibility can be defined as a self-regulatory framework which guidessocialresponsibilityoftheorganisation.Corporatesocialresponsibilityofthe organisation is very important for marketing as companies can utilise their CSR activities in which companies can enhance their brand reputation. CSR activities that are undertaken by the company include different activities with different purposes. Marriott Hotel works on making communities better places to live work and visit. Marriott Hotel also works on sustainability in which hotel commit to have a greater obligation to operate responsibly with their expanding global presence. In this Marriott Hotel works on integrating sustainability across value chain and mitigating climate related risk and organisation is working on reducing their environment impact and also build and operate sustainable hotel and also source responsibly (Advantage, 2020). Organisation is also working on empowerment in which company partners with leading non- profit organisations to ensure workplace readiness and access to opportunity, focusing on youth, diverse population, women and people with disabilities. Ethics Ethics can be defined as moral principles that guide behaviour and conduct of individual. This differentiatesbetweenwhatisrightandwhatiswrong.Fororganisationsethicsmeans conducting organisational activities that are ethical, in other words that are morally right and does not harm interest of others. This mainly requires organisations to undertake activities on the basis of their obligation to do what is right, just, fair and avoiding harm (Ferrell and et.al., 2019).
Marriott Hotel is known as one of the most ethical organisation and ethics of organisation are involved and presented to employees of the organisation in form of code of conduct. Promotional mix and integrated marketing communications strategy Integrated Marketing Communication is a concept and that propose to integration and coordination of different communication channels that an organisation utilizes to provide a consistent as well as clear message. This means that organisation can utilise is more than one channel of communication to communicate with target audience it becomes very important that their channels are integrated. This is because it is important that customers do not get different and varied information from different communication channels and this is why integration of marketing communication is very important (Bruhn and Schnebelen, 2017). This means that what an organisation communicate through its print advertisement it is required to communicate a message through TV Advertisement. This is aimed at ensuring consistency and clarity of what Marriott hotels communicate to its customers otherwise it may lead to confusion and can misguideaudience about product and services of Marriott Hotel. Integration help in ensuring that different channels are being used in a way that it complements communication strategy of Marriott Hotel.Integrated Marketing Communication involve promotional mix that is adopted by organisation. Promotion mix consists of channel and strategies of organisation they were utilised for the purpose of promotion. Promotional mix of Marriott Hotel is as follows- Advertising- Advertisingis considered to be one of the most effective strategy for promotion. Advertisement is an increasing visibility of brand in a large audience and this is because channels used for advertisement are accessible by large audience. Marriott Hotel utilizes different channels for advertisement and being an leader in its industry Marriott Hotel have launched an impact advertisement campaign. Sales Promotion- Salespromotion is an promotional strategy that is aimed at increasing immediate sale of the product. Sales promotion is about giving in incentive to customer for buying services of Marriott Hotel. This includes offering discount and additional services to customers who buy services from Marriott Hotel (Alananzeh, Tarhini and Algudah, 2018). Sales promotion of Marriott Hotel is also inform of Loyalty program that is named as Marriott
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Bonvoy. Loyalty program offers its members extra services and special services which is aimed at persuading customers to buy services from Marriott Hotel. Services that are offered to members of Marriott Bonvoy includes free Wi-Fi mobile check-in, best rates available, earn free Nights and some extra ordinary experience and unexpected delights. These are certain factors that attract customers to buy services from MarriottBonvoy. Digital Promotion- Thispromotion strategy of Marriott Hotel includes promoting Marriott Hotel through different digital channels. Digital channels include social media platforms and other digital platforms. Marriott Hotel primary use digital promotion in their marketing strategy. This is a very effective promotion strategy in which Marriott Hotel can extend its reachto international level because digital channels can be accessed by audience over National boundary. Being in international brand digital promotion strategy for Marriot is very important. In its digital promotion to hotel utilise different social media and in addition to this website of Hotel is also an important channel to communicate with potential customers (Bostani and Rastegari, 2018). Digital platform also allows Marriott Hotel to effectively communicate with its audience through different creative ways and it can also use creative content to attract attention of customers. One of the biggest benefit that digital channel provide is that organisation can engage itsaudiencewithitsadvertisementwhichisnotpossiblethroughprintaswellasTV Advertisement. Digital advertisement are also a benefit to company as cost incurred in digital marketing is comparativelylow.This helps organisation to maintain a low cost of conversion and through effective and attractive, advertisement and promotional efforts organisation can increase its conversion rate. Direct marketing- Thisis another promotional strategy in promotional mix of Marriott Hotel. Direct marketing includes directly communicating with potential customers to inform them about different offers and values that organisation provide. Direct marketing it is done through email in which a section of customers that company wants totargetis selected and communicated through email. In order to retain existing customers, this is an very important strategy of promotion, this means that through offering different values and offers Marriott Hotel can attract its customers again and this will give benefit of customer retention.
Public relation- This is a promotional activity that is undertaken by Marriott Hotel to promote its brand and protect and enhance its image (Bruhn and Schnebelen, 2017). This strategy is also supplied by Marriott Hotel to enhance its image. Part 2 Marketing Plan Executive plan Marketing plan is a planning of organisation about how they will undertake and complete activities that will help them in realising marketing objectives. Following is a marketing plan for Hotel Sea View. Hotel Sea View is an organisation that has been proposed for this part of the assignment for the purpose of developing marketing plan. Overview of organisation Hotel Sea View is a full service hotel that provides hospitality services that is based on London, UK and is a 5 star hotel. Hotel provides services for luxury accommodation and also food and beverages services. Hotel Sea View is located at such sight that it offers view of sea and this is why it also becomes a speciality of the services and also an important attraction for its customers. Accommodation services of the hotel are divided on the basis of different types of rooms and suites and in addition to this company also provide services of meeting rooms and event venue. Vision “Becoming first choice of customers when it comes to luxury and experience” Mission “Providing best hospitality experience to guest and ensuring luxury oh highest quality’ Objectives Increasing profit margin by 10% by 2021 Increasing market share in luxury hospitality by 7% by 2022
To reduce conversion cost by 15% by 2021 To increase members of loyalty program of the hotel by 12% by 2021 Segmentation, targeting and positioning This is one of the most important activity of the organisation regarding marketing. Segmentationisaboutsegmentingcustomersongroupsonthebasisoftheirsimilar characteristics. Targeting is about selecting an organisation to which organisation wants to provide its services and positioning is about positioning organisation in its target market. Segmentation-SegmentationstrategyofHotelSeaViewisbasedondemographic, psychographic and geographical segmentation (Camilleri, 2018). On the basis of demographic Hotel Sea View it segments its customers that are high-middle class and middle class customers. In addition to this on the basis of psychographic segmentation, company segments customers on the basis of their interest and hobbies and those interested in different adventure activities and also family vacation. Targeting-Targeting strategies of the company includes differentiated targeting strategy. This is because Hotel Sea View provides different types of services to its different customers and is able to fulfil different requirements. This means that it has services for family vacations, as well as for different events like wedding and meetings. This is why company select and targets different segments. Hotel Sea View targets higher-middle class and high class customers and provide varied kind of hospitality services. Positioning-Positioning strategy ofHotel Sea View is Quality or Attribute based positioning strategy. In this strategy positioning is done on the basis of luxury services that are provided to customers (Andaleeb, 2016). This means that communication of the brand is mainly based on quality and luxury rather than price or other element of the positioning. Hotel Sea View wants to create a positioning in which it can effectively communicate quality of its services and communicate its luxury. Unique selling proposition
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This is one of the elements that differentiates one organisation from others and is also an element that makes product or service attractive (Basal, 2019). Unique selling proposition of Hotel Sea View is its location that is near sea which makes it an attractive for customers. In addition to this its luxury services are also an USP of the company. Situational Analysis SWOT Analysis Strength Its attractive location Its efficient manpower Variety of services available Weakness Expensive prices Limited number of rooms available Opportunity Increasing international travel and holiday trends Increasing preference for luxury and high quality services in hospitality (TAKACS and VADUVA, 2017). Threat Increasing and intensifying competition Marketing Mix Product-Product of Hotel Sea View is full service hospitality that includes accommodation and food and beverages. In relation with accommodation it provides deluxe room super deluxe room and different category of suites for its customers. In addition to this services of Hotel Sea View also for event and meeting and make it an attractive location for such events. Rooms and Suites are crafted with modern interior and also have latest and luxury amenities.
Price-Price strategy of Hotel Sea View is premium price strategy because it targets higher middle class and higher class customer. Along with targeting high class customer it also provide high quality service and luxury hospitality to its guest making it suitable to charge premium prices from customers. Place-In relation with place Hotel Sea View is located on an attractive location near sea (Išoraitė, 2016). Concerned with point of sale its point of sale are online through its website and offline by directly contacting with hotel. In addition to this booking of Hotel Sea View can also be done through third parties such as travel agents and holiday planners. Promotion-PromotionofHotelSeaViewisdonethroughdifferentwaysthatincludes promotingthroughbusinessmagazinesandthroughdigitalchannels.For thepurposeof promotion Hotel Sea View also provide loyalty scheme to its customers and members of loyalty scheme are availed with extra services. Strategies that Hotel Sea View has adopted for promotion includes- Digital marketing-Direct marketingincludes marketing through digital channels using social media and other digital platforms. Advertisement- Thisis a paid promotion strategy and which Hotel Sea View advertiseitsservices through different channels that includes print as well as TV Advertisement (Pogorelova and et.al., 2016). Print advertisement plays and very important role in attracting local customers. Direct marketing- This strategy involves directly communicating with potential customers and targeting them and email marketing is one of the strategy for direct marketing. Physical evidence-Physical evidence of Hotel Sea View includes attractive and modern interior as well as exterior. Rules suites and event location of Hotel are filled with modern and luxury amenities. People-Process includes process for booking in hotel,check in and checkout, housekeeping services, facility management, room services and food and beverages services. In addition to this customer relation and customer service process are also completed in Hotel Sea View. Process-HotelSea Viewhires employees from best hospitality organisations around the country and in order to enable them to fulfil standard of customer satisfaction they are also given training
(Wu and Li, 2018). Along with new joiners training is also provided to existing employees of the hotelsothattheycanmaintainefficiencyandcontributeineffectiverealisationofthe organisational objectives. Budget Following is an estimated budget that is likely to incur in implementing promotional and marketing strategy of the company. This involves cost involved in different CategoryEstimated cost Promotional activities Advertisement£1000 Digital marketing£ 500 Direct marketing£ 200 PR£ 500 Total£ 2200 Monitoring and Evaluation Monitoring is concerned with an act of tracking performance of the strategies that have been employed for the purpose of marketing (Stoychev, Dimitrova and Desev, 2019). Initially it is important to track performance frequently to determine if there is any requirement to change in strategies. Monitoring can be done by observation and also by interviewing and communicating with people involved in implementing Strategies for marketing. Evaluationinvolves process and act of comparison between standard and actual performance of marketing plan. Evaluation of marketing plan can be donethroughcomparison between actual result achieved and objectives of organisation. Other than this some of the method through which marketing plan can be evaluatedare-
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Sales performance-This is concerned with evaluating changes in sales of Hotel Sea View after marketing plan implementation. Cost per acquisition- This is concerned with aggregate costincurredby Hotel Sea View in order to achieve one paying customers after implementing marketing plan (Innanmaa, 2020). CONCLUSION On the basis of above discussion it can be concluded that marketing is an important activityoftheorganisation.Increasingcompetitioninhospitalityindustryhasrequired organisations to effectively undertake their marketing activities. This report discussed about pleaseofficeofmarketingmanagementandprinciplesofMarketing,corporatesocial responsibility and ethics. Philosophies of marketing are something that guide marketing actions of company and this keep changing according to marketing environment. Letter report also discuss about promotional mix and Integrated Marketing Communication strategy of Marriott Hotel. Lastly,report included developing and marketing plan for a proposed organisation that is Hotel Sea View.
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