Marketing Essentials

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Marketing Mix.........................................................................................................................1
2.Marketing Environment (Micro)...............................................................................................2
3. Marketing Environment (Macro).............................................................................................3
4. Segmentation, targeting and positioning..................................................................................4
CONCLUSION................................................................................................................................5

INTRODUCTION
Marketing include those activities which is required to promote buying and selling of
product and service. In include advertising, selling and delivering of product and service to
customers. This project include study of Premier Inn which is a international hotel group
operating in different locations. Premier Inn hotel group is established in 1987 by Whitbread in
UK. This project report include marketing mix along with segmentation, targeting and
positioning. This project report also include micro and macro marketing environment which
create impact on operation of organisation.
MAIN BODY
1. Marketing Mix
Marketing mix refers to a strategy adopted by organisation which include elements like
product, price, place and promotion (Cao and Tian, 2020). In service industry it include some
extended p's which are people, process and physical evidence. Marketing mix strategy helps
business in identifying strength and weakness of their business. It helps a company to be more
competitive in market and also make them more adaptable to change. This strategy increase
profit of business and ensure more collaboration in different department of organisation. Premier
Inn adopt this strategy by decision elements like product, price, place and promotion in following
ways:
Product: Product refers to an object provided by business to satisfy needs and wants of
customer (Elsharnouby and Elbanna, 2021). To survive in a market, it is important for business
to offer differentiated product which provide organisation with competitive advantage. Premier
Inn is providing services in hospitality industry including guest room, banqueting room, food and
beverage in market. Company is providing luxury hotel services which helps them to
differentiate their service from competitors and has high brand value.
Price: Prices are those monetary value which a customer is ready to pay for utilising
product and service of business (Greenway and Ross, 2017). Business need to research market
before deciding price for their product and service as customer compare different products on
basis of their price and attribute. Using right pricing strategy is important for organisation as it
helps them to capture large market share. Premier Inn hotel group are offering variable pricing
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