This assignment focuses on the critical aspect of market research within the hospitality industry. Students will delve into various research methodologies, learn about gathering and analyzing customer data, and understand how this information can inform strategic marketing decisions in the dynamic hospitality sector.
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MARKETING IN HOSPITALITY
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Table of Contents INTRODUCTION..........................................................................................................................1 TASK 1............................................................................................................................................1 1.1 Concepts of marketing..........................................................................................................1 1.2 Impact of marketing environment on organisation...............................................................2 1.3 Relevance of consumer markets............................................................................................3 1.4 Rational for developing various market segments................................................................4 TASK 2 & 3.....................................................................................................................................4 Converted into PPT....................................................................................................................4 TASK 4............................................................................................................................................4 4.1 Relevance of market research to service industry operations..............................................4 4.2 Market research for a suitable service or product.................................................................5 4.3 Suitability of various media for marketing a suitable service or product.............................6 4.4 Implementation of the marketing plan for a suitable service or product.............................6 CONCLUSION..............................................................................................................................7 REFERENCES................................................................................................................................7
INTRODUCTION Marketing is defined as a process of promoting, distributing and developing products to satisfy clients' wants and needs. It deals with meeting and identifying social and human needs in an effective manner. It can also be termed as a function of organisation and set of activities for creating, delivering and communicating value to clients and for keeping long term relationship with them (Bharwani and Jauhari, 2013). Core function of hospitality marketing is to know the requirement of consumers, understanding the segmentation of marketplace and creating essential marketing technique to maximise market share by meeting a large number of customers (What Is Hospitality Marketing?, 2018). This report is based on EasyJet which is a British airline company in London. This project consists of the concept of marketing and segments of market. Importance of marketing mix and different kinds of pricing strategies are also shown in this study. Promotional mix plays an essential role in order to attract a million of customers towards services or products. Market research is an important part of business to identify the needs of customers and market trends in an effective manner. TASK 1 1.1 Concepts of marketing Definition of Marketing:It is identified as the management and study of exchange relationship. It is used by each and every company in order to keep, satisfy and create the needs of customers in an essential manner. According to American Marketing Association. “Marketing is defined as a set of institutions, activities and process of communicating, creating, exchanging, offering and delivering that have value for clients, customers, society and partners. Customer wants, demands and needs:It is one of the main and important concepts of marketing. EasyJet is a British Airline business entity that provides different types of services in order to fulfil customer’s basic needs and demands quickly (Bowie and Buttle, 2011). They give advance booking, discount of tickets and other facilities to them. Customer satisfaction:One of the main aims and motives of company is to provide high satisfaction to their clients by providing effective services and products. It is essential for the business growth and success and so, enterprise should try to give the best facilities to their clients. 1
Profitability and effectiveness of company: Growth of consumerism:It is identify as an economic and social order that promotes the acquisition of services and goods in ever- maximising amount. It is also a marketing concept which is based on the needs and wants of clients. So, it is beneficial for the business entity in order to grow and gain success in competitive marketplace. So above all those are important concept of marketing that assist EasyJet in order to make better image in marketplace by satisfying the demands and needs of clients (Chan and Guillet, 2011). It is essential to determine the trends and requirements of buyers by providing quality services or products as per the client’s purchasing power, lifestyle and preferences, etc. 1.2 Impact of marketing environment on organisation Marketing environment is a part of business that includes entire factors. All those are effects the business performance and its capability to make better relation with customers. It is divided into two parts which are described as follows: Micro environment:It consists entire factors which stay within the organisation. There are different parts which are includes in this and have more effects on the working of business are as follows:Employees:These are main part of the company whose mainlydepends on business success and growth. Manager of the company plays an important role in providing different programmes to their employees such as seminars, conferences, events, meetings and others (Hyun, 2010). So, in all, workers can increase their basic knowledge and skills on particular subject which is good for company’s development. Customers:They are also essential assets of the business entity whose motive is to increase profitability and productivity of organisation. It is the responsibility of EasyJet to offer high quality facilities to their passengers. Macro Environment:It also consists of different factors which persist outside the business and impacts their working. PEST analysis is a part of macro environment which are described as follows: Political:Working environment of company will get affected in a negative manner due to the instability as well as strict rules and regulations of government of country. 2
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Economical:This factor consists of the economic condition of country. Economic situation of the country is not better and there is few income of person get impacted the profitability of business. So all these are highly influence the buying power of customers. Social:There are some points which are effects the working of company such as education, ethics and culture etc. If there is high education among the people of nation then it has optimistic affects on the business profitability and sales (Lee and et. al., 2010). Technological:If an individual do not have proper skills and knowledge about uses of advanced technology which impacts the working and profitability of Easy Jet. Each and every activities and function of company are completed as well as poor skills regarding digitalisation effects their services. 1.3 Relevance of consumer markets Consumer market:It is made up of large number of the person who make effective decision regarding what to purchase and what not to buy. Each and every people who buys services or products are known as consumer. Easy Jet apply Black Box model in order to identifying needs and wants of the clients. It includes different parts which are describe as follows: Customer culture:It is a part of hospitality sector and emphasises on psychological and sociological effects of spending and buying behaviour of clients (Leung and et. al., 2013). Customer's buying behaviour:In regards to understand purchasing behaviour of customers, company needed to analysis importance aspects which are determine as follows:ï‚·Cultural:It is identify as an essential factor which consists cultural and social class of the clients.ï‚·Personal:In this factor; age, economic circumstance, occupation and lifestyle of the customer is highly included. With the assist of these aspect, company can understand about the preferences and taste of the buyers.ï‚·Social:This factor includes the status, family, roles and group of the clients. It is very beneficial factor for the comp-any in order to determine the buyers behaviours (McCabe, S., 2010). ï‚·Psychological:It is also important part which is useful for the business organisation to identify their customers beliefs, perception, learning and attitudes of the customers. 3
1.4 Rational for developing various market segments Market segments:It is identify as a process or activity of distinguishing main section of marketplace. The services quality of Easy Jet contains various facilities, amenities, online services, benefits and rewards. Segmentation of market consists four elements which are determine under this: Easy jet have to picked up several clients from their old challengers like Air France and British Airways. Main competitor of this company is Ryan Air which is targeting leisure visitors for whom the price of ticket is essential (Nunkoo, Gursoy and Ramkissoon, 2013). Company has two various type of clients who are business and leisure customers. They are mainly classified into different classes which are determine under this: Demographic segmentation:It ismainly based on education qualification, family members, income, gender, age and social economic status of the clients. Geographic segmentation:In this factor, company divided their population on the bases of city, state, region, country and postal code. Psychological segmentation:It is completed on the basis of customers personality, lifestyle and social status (Ong, 2012). Behavioural segmentation:In this all market is classified on the basis of usage patterns and buyers behaviour which is important for the company to identifying their clients basic requirement related to travelling. M1 Methods of presentation In order to present their airline services company used different kind of social media which help to easily attract large number of customers towards it. Administrator of EasyJet is liable to implement or create marketing policy to fulfil the demand of customers with the use of social media, unique advertising and loyalty programs. 4
TASK 2 & 3 Converted into PPT TASK 4 4.1 Relevance of market research to service industry operations Market research:It is very important and essential for the company to conduct market research in order to identify needs of the customers and market trends towards airline services (.Pechlaner and Volgger, 2012). It is mainly divided into two parts which are identify as follows: 1.Primary Research:In order to gathering essential information and data from the clients, company use qualitative approach. It is important method for the organisation to collect all data about the business services. It is more reliable or accurate to acquire feedback and comment from the clients. 2.Secondary Research:It is also important approach which is use by learner in order to identify market trends and customer preferences related to airline services. It takes minimum time and effort to gather data about the business facility (Tresidder and Hirst, 2012). There are different elements which are includes in this approach such as libraries, internet search engines and private research companies. (Source: Market research process, 2018) 5 Illustration1: Process of market research
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4.2 Market research for a suitable service or product Market research is essential for the company to introduce their innovative products and services to customers in marketplace. In this business entity use different methods which are determine under this: New and existing products:It is oner of the main and essential part of the market research. Under this business introduced their existing and new products at marketplace. In this business conduct survey which is essential for them. Recently, EasyJet introduce their new airline services which cover entire information about this. Company used different kind of survey methods such as online survey, interview, face-to-face communication and other techniques. Services and markets:In this business provide accurate information about their new airline services at large number of marketplace. Thus it is beneficial for them to accomplish their predetermined objectives and goals. In the company there are various divisionsuch as advertising, marketing, finance and other (Tsiotsou and Goldsmith, 2012). Thus in regards to gather necessary data regarding the airline service which is beneficial for the customers. Market information systems: It is important part which is used by the business organisation to maintain their entire services and functions easily. It is also support them to maintain long lasting relationship with customers. Defining the market: Under this company defining their marketplace where they render this effective services to the customers. Measuring current demand:Business manager is liable to review the survey as well as make necessary adjustments to bring better result of company.An effective survey should be followed with the assist of potentials and current clients comment on the services.It is a last process of collecting necessary data regarding the service, it is needed to analysis better outputs with graphs, tables, charts and other analysis (Chan and Guillet, 2011). 4.3 Suitability of various media for marketing a suitable service or product Radio and Television are identify as a better source, both are essential for the company to introduce their innovative services or products to clients. Social medial is also very essential and effective for the company to innovate their facility in marketplace. Company use various kind of media techniques to offer their all facilities to the potentials and target clients in an effective manner. 6
Changes in the Technology is essential to attract different number of the customers in an effective manner. Million person are active and spend their more time on Facebook and You 4.4 Implementation of the marketing plan for a suitable service or product Marketing plan is very important for the each and every organisation in order to promote their products and service in an effective manner. Marketing plan Implementati on TimescalesCostsEvaluation of objectives Outcomes Packagesto Spain Inorderto implement this planbusiness entityprovide different facilityand servicesto their customers. 2 to 3 days£1339.18Inthis businesscan increasetheir salesand revenues. Itprovides better outcomesto thecompany in certain time period. Packagesto Egypt Inregardsto implement this plancompany usevarious kindof promotional mixsuchas advertisement, promotion and other channels. 4 Days£1239.18With the help of promotional mixcompany canattract largenumber ofthe customersin aneffective manner. Withtheuse ofeffective techniques businesscan easilyachieve better outcomes. M2 Appropriate market research methods Newandexistingproducts,Servicesandmarkets,Definingthemarket,Market information systems and Measuring current demand. All these are important method for the 7
organization to achieve long term goals and objectives easily. It is not use by Easy Jet in promoting their products and services in market and to customers. M3 The marketing research materials In order to do research effectively business entity use different materials such as primary and secondary research, qualitative and quantitative research, survey, questionnaires and many other tools. Tube. Newspapers is also an important but it is a old approach in providing necessary information to customer (Hyun, 2010). D1 Self-criticism of personal skills Personal skills support the business organization to attract large number of customers as well as maximize their motivation and performance level. Market research process also support the company to determine their clients needs and demands as well as market trend also. D2 You have shown preparation and organization skills It is also important for the organization to maintain long lasting and strong relationship with customers. In this business organization provide airline services to the customers in an effective and efficient manner. D3 you need to demonstrate that lateral and creative thinking Creative thinking is more essential part of the business success and development. It is also essential and important for the organization to maximize their sales and revenues in an effective and efficient manner. CONCLUSION As per the above mentioned information, it can be concluded that marketing is very important for the each and every company to promote their innovative services and products. Promotional mix also essential for the business entity to attract million number of the clients towards business products and services. Company conduct an effective research by using primary and secondary method, so in this business can easily identify their customer taste and market trend. Segmentation of market also help the customer and company to easily purchase or sale services & products. 8
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REFERENCES Books and Journals Bharwani, S. and Jauhari, V., 2013. An exploratory study of competencies required to co-create memorable customer experiences in the hospitality industry.International Journal of Contemporary Hospitality Management.25(6). pp.823-843. Bowie, D. and Buttle, F., 2011.Hospitality marketing: principles and practice. Routledge. Chan, N. L. and Guillet, B. D., 2011. Investigation of social media marketing: how does the hotel industry in Hong Kong perform in marketing on social media websites?.Journal of Travel & Tourism Marketing.28(4). pp.345-368. Hyun, S. S., 2010. Predictors of relationship quality and loyalty in the chain restaurant industry. Cornell Hospitality Quarterly.51(2). pp.251-267. Lee, J. S. and et. al., 2010. Understanding how consumers view green hotels: how a hotel's green image can influence behavioural intentions.Journal of sustainable tourism. 18(7). pp.901-914. Leung, D. and et. al., 2013. Social media in tourism and hospitality: A literature review.Journal of Travel & Tourism Marketing.30(1-2), pp.3-22. McCabe, S., 2010.Marketing communications in tourism and hospitality. Routledge. Nunkoo, R., Gursoy, D. and Ramkissoon, H., 2013. Developments in hospitality marketing and management: Social network analysis and research themes.Journal of Hospitality Marketing & Management.22(3). pp.269-288. Ong, B. S., 2012. The perceived influence of user reviews in the hospitality industry.Journal of Hospitality Marketing & Management.21(5). pp.463-485. Pechlaner, H. and Volgger, M., 2012. How to promote cooperation in the hospitality industry: Generating practitioner-relevant knowledge usingtheGABEKqualitativeresearch strategy.InternationalJournalofContemporaryHospitalityManagement.24(6). pp.925-945. Tresidder, R. and Hirst, C., 2012.Marketing in food, hospitality, tourism and events: a critical approach. Goodfellows Publishers. Tsiotsou, R.H. and Goldsmith, R.E., 2012.Strategic marketing in tourism services. Emerald Group Publishing. Online WhatIsHospitalityMarketing?,2018.[Online].Available through<https://learn.org/articles/What_is_Hospitality_Marketing.html>. 9