Table of Contents Introduction................................................................................................................................3 Task 1.........................................................................................................................................3 AC1.1:Define marketing and discuss any 4 concepts............................................................3 AC1.2: Assess the impact of the marketing environment on the industry.............................4 AC1.3 Evaluate the relevance of consumer markets in theindustry................................................5 AC1.4 Discuss the rationale for developing different market segments.....................................5 Task 2.........................................................................................................................................6 AC 2.1: Assess the importance of the components of marketing mix to the industry...........6 AC 2.2:Analyse pricing strategies and policies in relation to theindustry......................................7 AC 3.1: Evaluate the role of the promotional mix.................................................................7 AC 3.3 Analyse the role that sales promotion and public relations play in promotional efforts:....................................................................................................................................8 AC4. 1: Discuss the relevance of market research to services industry operations..............9 Conclusion..................................................................................................................................9 Task Four..................................................................................................................................10 3.2.........................................................................................................................................10 Undertake market research for an appropriate product or service............................................10 4.3 Analyse the suitability of different media for marketing an appropriate product or service.11
Introduction The tools and techniques related to marketing play a key role in building the brand, creating new consumer base and also maintaining the brand loyalty. This is all the more essential in hospitality firms as the need is to serve the consumers in a direct manner (Kotler and Armstrong, 2016). The present study has thus paid focus on varied marketing aspects involved in hospitality sector of UK. Task 1 AC1.1:Define marketing and discuss any 4 concepts. American Marketing Association defines marketing as the set of institutions and activities meant for producing, communicating as well as exchanging the offerings so that value can be created for consumers and society at large. There is an existence of four concepts in marketing that are as follows; Marketing concept states that the main purpose of any firm is to assess consumer needs and then adapt itself so that the needs can be met in an effective manner than the competitors (Lee and Vachon, 2016). For example, chain restaurant usually try to alter their menu so as to meet the needs of different nations such as done by M.C. Donald’s in India so as to suit the requirement of vegetarian consumers. Then is the societal marketing concept which holds that marketing tactics should be such that they are able to deliver value to consumers and maintain well-being of society. For example, Starbucks in the present times is focusing on ensuring that its cups are fully sustainable so as to meet the needs of a safe and healthy environment (Starbucks invests $10m to create truly sustainable cups, 2018). Selling concept is the one which holds that consumers may not buy enough of company’s products if there has not been an aggressive promotional strategy. For example, this strategy can be adopted by hotels during lean season so as to attract the guests to make a stay. Heavy discounts can thus be provided to them.
AC1.2: Assess the impact of the marketing environment on the industry FactorsPositive impactNegative impact PoliticalOverall stable political environment which helps in smooth running of UK hospitality sector. UK has good relations with Brazil which hasfavouredtheoveralloperationson account of coffee beans import. Brexit issue has led to a decrease inpurchasingpowerof consumers. EconomicThere has been an increased growth of labourmarketfollowedbyconsumer spending.Thishasledtocontinuous flourishment of UK hospitality industry. Unemploymentisrisingwithin UK that has led to decrease in wage structure (Geppert, Matten, and Williams, 2016) SocialTrend of vegetarian consumption on a rise hence it gives opportunity to hospitality firms for producing products. There is a very abrupt change in thetasteandreferencesof consumers hence it is difficult to findastowhatexactlywill motivate them and what should be the offerings of a company. TechnologicalLondonisatechnologicallyadvanced nation which has favoured the growth of Technologyhasincreasedthe chances of privacy issues hence it
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the industry.may led to legal penalties if the situation is not handled properly. EnvironmentalEnvironmental sustainability norms are in trend which can be used an opportunity by the firms. This can be done by introducing itselfasafirmthatadhereswith environmental friendly norms (Grendy and Moxon, 2013). Thecompaniesarerequiredto adhere with the norms of carbon footprint etc. that may increase the overall cost factor. LegalDue to legal pressure the firms are required tofocusonmakingtourismactivities, travel, accommodation, meals etc safer for the employees. It is essential that each and every memberofthefirmistrained withthelawsassociatedwith their work so as to avoid any legal issues. AC1.3 Evaluate the relevance of consumer markets in theindustry. As per the consumer black box theory ofConsumer buying behavior is impacted by a large number of factors being personal, psychological,cultural and social. Same applies to hospitality industry as well. The hospitality firms are thus required to have awareness about the said traits as well as overall consumer behavior process so as to enhance total revenue, brand equity as well as change the product portfolio as per the needs of consumers. However this process has a set of its own disadvantages such as same steps for each type of product or service which cannot work for hospitality sector as all services are quite different from each other (Gretzel and et.al., 2015). Moreover consumer buying beaver in hospitality is not a simple one as large number ofcomplicated psychological variables are involved such as motivation, perception, memory, attitude among others. AC1.4 Discuss the rationale for developing different market segments different segmentsBasisBenefitsinrelationto targetedmarketingand positioning. GeographicIts basis is classifying the marketsintovarious geographical areas as same Allowsbigcompaniesto target needs and wants of
strategies cannot be applied at different places. consumersindifferent regions. DemographicItisbasedonvaried variables such as age group, gender, occupation etc. Asthedemographicsare quiteeasytounderstand henceitcanbeeasierto build in a marketing plan from management, to sales and consumer service staff. BehaviouralItsbasisistheconsumer loyaltyshownbythem towards a brand that helps themtoclassifyinsmall groups and each group has apresenceofindividuals that are loyal towards the brand. Quiteusefulinmature marketswherethefirm focuses on understanding as to what activates a non-user and converts medium user into a heavy one. Physiographic-It is based on the overall lifestyle of individual; his attitude; interest as well as value that aids in helping themarketerstoclassify theminsmallgroups (Lammgård and Andersson, 2014). Providesanincreased insight into the needs and motives of consumers as a person. Task 2 AC 2.1: Assess the importance of the components of marketing mix to the industry Component of Marketing MixRelated Application In Thomas Cook Travel 1.ProductCore product is organising package holidays that is inclusive of travel, food, hotel, insurance as well
as car hire. 2.Pricing strategy usedThe packages are available at reasonable prices whichhelpthefirmtostayrelevantabd competitive. 3.Place or Channel of distributionThe stores of Thomas cook are available in form of physical stores as well as on online level. 4.Promotionalelements recommended Has an active profile on social media Itisinvolvedinsponsoringbigeventsthat increases it brand visibility Uses tagline being Let’s go. AC 2.2:Analyse pricing strategies and policies in relation to theindustry Two main pricing strategies that are followed by Thomas cook are value pricing where price is kept in response to external factors such as recession etc. and the products are there to provide value to the consumers. This pricing strategy makes the employees feel that they are being provided with value for money services and makes then purchase the offerings of the company. There is also a presence of Competitive pricing which is set on the basis of what is being charged by the competitors. As the tour operator industry is a highly competitive one hence this strategy aids in curbing of competition and also meets up the targets related to increase sales revenue and profit figures. Task 3 AC 3.1: Evaluate the role of the promotional mix Thomas cook has always adhered with aggressive promotional strategies such as sponsoring for big events lie football matches, carrying out public relations activities; starting social media campaigns through the usage of various taglines among others. These have played a key role in many areas. For example, it was on account of its social medium promotions that the company posted a profit of 50 million pounds after a time span of 5 years. There was also a build-up of strong demand for its branded hotels in UK and north Europe region. Overall bookings also rose up by 1 percent and average prices were up by 3 percent by end of September (Hobbs, 2015). Reports have further suggested towards an increase in consumer awareness about the products and services that are offered by Thomas Cook.
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AC 3.3 Analyse the role that sales promotion and public relations play in promotional efforts: a) Define any five types of sales promotion and explain how sales promotion can be important to the producer, intermediaries and consumers. Free gifts may attract the consumers to make a purchase while intermediaries get a chance to clear up the dead stock that is lying with them. The company however gets a good word of mouth publicity which may attract other clients towards the products. Discounts help the consumer in saving the money which can be used elsewhere. The company and intermediaries benefit as the existing buyers can be convinced to increase their overall purchase and also accelerate the overall usage. It further helps in increasing the overall brand loyalty towards the product and service offering of the company. Contests motivate the employee to be a part of the services offered by company. These are important for the company as well as intermediaries to spreads awareness about the brand. It further benefits as consumerspenetrate faster and are in situation to buy more services. Continuity programs such as frequent flyer program by Thomas cook airlines ensures that consumers use the services of the company as and when they get an opportunity to fly. Thecompany as well as intermediaries benefit as they help toretain old customers in an effective manner. Financing is also a best strategy for those who wish to travel at a good location but do not have money for the same at that time. The consumers get a chance to enjoy their trip at a minor processing fee and less interest while dealers can liquidate the service faster. b) State and explain five (5) ways that public relations can be used as part of the promotional tool in Thomas Cook Media relations can be used by management of Thomas cook to circulate messages about the activities of the company. This can help to enhance the awareness of consumers towards the firm and also generate positive word of mouth publicity. Newsletters in print or email form can be a good means for promoting the business and communicating consumers about available product and service offerings. The issue of newsletters on regular basis can be utilised for strengthening the personal
connections with the consumers. Information of value can further be offered to them through this technique. Brochures and catalogues help to keep the consumers think about the business and also give them a confidence towards the brand followed by driving the consumers. Social media is a very high public relations tool for Thomas Cook. This is as it serves as a place where the management can interact with the consumers, work on their queries and also get a list to hundreds of suggestions with respect to their product and service offerings. Thomas Cook has been involved in many forms of sponsorship activities that not only generate good will for the company but also increase the overall loyalty. AC4. 1: Discuss the relevance of market research to services industry operations Market research activities are quite essential for hospitality firms. This is as these help to identify the overall problem areas that are being faced by the company. It further helps to find out about diverse needs and preferences of consumers which can help the company to serve them in a better manner. The management further gets chance to know about the on-going business trends hence new services can be provided to the consumers. These can be related to novel food and beverage offering or providing additional services while they are heading for a tour (Kaminski and Rink, 2015). Competitor analysis can further be carried out that can be used to find out what strategies are being utilised by them and targets can then be set for overall growth and development. Overall there can be making of a well-informed market decisions about the services and hence effective strategies can be developed for the same. Conclusion From the above report it can be concluded that marketing concepts and strategies such as selling, production, buying concept as well as consumer behaviour plays an important role in hospitality sector due to direct involvement with the consumers. However the need is to assess the pestle factors before forming pricing strategies and carrying out activities related to sales promotion and public relations. This can only be done when market research is done in best manner.
Task Four 3.2 Flyer in separate file. Undertake market research for an appropriate product or service Market research on Educational tours for adult students (above 18 years) Aim: To assess the benefits of Educational tours on adult students. Research type: There will be a use of qualitative research type to find out the impact of attending educational tours on the overall life of students. Data collection: This will be done the use of primary as well as secondary data sources. Primary data will be inclusive of administrating survey questions to the students who have recently attended educational trips. This will aid in finding out where the trip has aided in increasing the knowledge base of students or not. Secondary data will focus on journal and newspaper articles, books etc. written by authors so as to assess the overall impact of Educational tours on adult students. Data analysis: Thematic analysis will be used to assess the collected data by creating themes on the topic and carrying out a discussion on it. Questionnaire Do educational tours interest you? Yes No Have these tours brought an increase in your over knowledge about the places you visited? Yes No Somewhat What skills you learned during the tour Being organised Time management Socialisation All of the above Plan an advertising campaign for a services industry operation.
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Do you feel such trips should be conducted on a regular basis? Yes No Suggest some ways by which these trips can be improved. 4.3 Analyse the suitability of different media for marketing an appropriate product or service differentmediafor marketing in Thomas cook suitability Broadcast on Television and radio by ad commercials. Television offers visual stimulation and creativity which is most required to attract consumers to the business of tour and travels. On the other hand, radio offers local reach within London and also involves for repetition of the commercials. Printthrough Newspapersand magazines Newspapers are quite affordable for the company and provide easy reach to consumers. Magazines can focus on the needs of nicheconsumersduetoitshighselectivity(Lillqvistand Louhiala-Salminen, 2014). Digitaland Interactivethrough Internet,emailand mobile devices Act as a direct touch point for making contact with potential clients of Thomas cook to sell their tours. SocialMediaby Facebook,twitter, instagram Low cost means to promote the packages of Thomas cook and ensures towards increased consumer engagement. As per my belief, the best form of media that will suit in marketing of Thomas cook tour is social media strategy as most of the people these days have an active presence on social media and hence connection can be made with them easily. It can further act as a channel for effective customer enquiry and problem resolution. AC4.4 Evaluate the implementation of the marketing plan for an appropriate product or service The work during the exhibition could have been improved by
Setting proper aim and objective in the very start of plan so that all those involved in it can be made aware of it. Other than this the need is also to identify the exact consumer base for which the marketing plan is being created. The need was further to divide work responsibilities among staff members and appoints a leader for each group who reported directly to the management. The need was further to make a written record of all the activities that were carried out so that flaws etc. can be judged in coming future. Implementation of the marketing plan also requires communication in a transperant manner to ensure success. Conclusion From the above report it can be concluded that marketing activities in the area of hospitality are of huge importance for the overall success of business. The need is to implement them in the proper manner so that fruitful results can be obtained. This is all the more essential for Thomas cook as it has a presence on a worldwide level hence the need is to understand that different marketing strategies are required for every market.
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