Marketing Concept Assignment

Added on - 21 Feb 2021

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Marketing
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................4TASK 3............................................................................................................................................6CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing is a wide concept in whichnumber of activities are undertaken by anorganizations (Umiker-Sebeok ed., 2012). The main objective is to promote buying or selling ofa product or service. It includes advertisement, sale and delivery of the products to the finalcustomer. Apart from this, it involves making marketing plans and strategies to be implementedin order to fulfil the goals and objectives. It should be done in way that attracts customers inenhanced number. The company selected in this report is Mogford Hotels and Restaurants whichhas its headquarters at Oxford, United Kingdom. The report includes analysis of macro andmicro environment, evaluation of advantages and disadvantages of selected approach ofinternational marketing and development of international marketing mix including digitalmarketing strategy.TASK 1Mogford Hotel is a 5-star luxury hotel located in UK. It is a successful and popular namewithin the national boundaries of the country. It has proposed expansion in an internationalcountry with potential market. Therefore, Turkey is the international market considered for theexpansion (Mogford's official porfile, 2019). Expansion refers to a growth strategy which isattained by increasing the number of outlets for greater presence and awareness among thecustomers. This involves opening of new stores in different physical locations while maintainingcurrent business locations. Detail analysis of international market is imperative for makingfurther decisions regarding expansion of Mogford Hotel. It is possible through PESTEL, whichis an analytical used by companies to assess the key forces liable for creating change in strategicbusiness environment. The PESTEL analysis of Turkey's market in the context of expansion ofMogford Hotels is provided below:Political factors:Policies of government made for the businesses are included in this.The impact of political factors can be huge on both national as well as international market.Turkey have liberalization policy and primarily focused on making business deals in the form ofinvestment with members states of EU. The political conditions in turkey is stable because of theoptimistic nature of Turkish people. Mogford Hotel will get enhanced growth opportunitiesbecause of liberalization and other favourable policies by the government for hotel industry. But,1
it should be cautious that geopolitical risks might affect future business of hotel industry(Political factors of Turkey hotel industry, 2019).Economical factors:These are the interest rates, exchange rates, trading regulations,excise duties, GDP etc. All of these are the reasons for increase or decrease in the market'sconfidence in an economy. Turkey's economic conditions are attractive which has multiplied theinvestment from foreign investors. Also, it has been ranked 68thcountry in economic freedomindex. In 2018, the GDP grew by 2.6 which shows that country can provide expected results toMogford Hotel. Turkish economy is strong to execute the expansion plan by Mogford. However,the fiscal uncertainties are high during that time business may be affected significantly (TurkishGDP, 2018).Social factors:These are about age, population growth rate, employment level, incomestatistics, religious beliefs, cultural conventions and so on. Turkey has people under the age of 30which is more than the half of population this has contributed to increase in employment rate to46% in March, 2019 against 45.09% in February, 2019. This states that Mogford can appointemployees from Turkey (Employment rate in Turkey, 2018). This will add on more employmentin the economy. The disadvantage is that level of unemployment is high.Technological factors:These have significant impact which includes adoption ordevelopment technologies, capabilities related to technology etc. In Turkey, 82.5% ofhouseholds have internet access. It has became possible because of high investment intechnologies by variety of industries in Turkey's market. Mogford Hotel can make investment indigital marketing for its business. However, Mogford should equally invest in R&D forupgrading the technologies (Hotel occupancy rate, 2018).Environmental factors:These include the issues dealing with various ecological factorshaving impact on the lifestyle of individuals living in a society. Turkey is a country which is aparty to all key international environmental conventions for providing its valuable suggestions inthe framework and to form a co-ordination to cope up environmental problems. Industrialisationhas caused a threat to its beauty. Therefore, Mogford Hotels should adhere to various lawsenacted for the protection of environment.Legal factors:Statues, rules and regulations applicable in a country so that businessactivities can be carried within legal boundaries. These are necessary to maintain law and orderin a country. Turkey has made laws in various areas which are applicable on not just hotel2
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