Marketing in Hospitality Assignment Sample
Added on -2020-07-23
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Marketing in Hospitality
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Concepts of marketing......................................................................................................11.2 Impact of the marketing environment on the industry.....................................................21.3 Relevance of consumer markets in the industry...............................................................31.4 Discussion of rationale for developing market segments.................................................3TASK 2............................................................................................................................................42.1 Importance of the marketing mix within The Rex Whistler Restaurant..........................42.2 Analysis of pricing strategies and policies.......................................................................4TASK 3............................................................................................................................................53.1 Role of the promotional mix.............................................................................................53.2 Advertising campaign plan...............................................................................................63.3 Role that plays by sales promotion and public relations..................................................7TASK 4............................................................................................................................................74.1 Relevance of market research...........................................................................................74.2 Market research for an appropriate product or service.....................................................74.3 Suitability of various media marketing ...........................................................................84.4 Evaluation of implementation marketing plan for product and services.......................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONHospitality refers to the relationship between a guest and a host where guest receives theservices of the organisation. It provides different types of services like catering in the restaurants.The present report is based on The Rex Whistler Restaurant which is located in Britain. It is apopular restaurant with quality products and services in Britain. In this report concepts ofmarketing, marketing environment in the industry and different market segment are covered.Other than that, importance of components of the marketing mix, pricing strategies and policiesplus role of the promotional mix are discussed. Along with this, plan for advertising, salespromotion and market research are discussed.TASK 11.1 Concepts of marketingThe marketing concept is the strategy that restaurant implements to satisfy need ofcustomers. When restaurant require and complete the needs of customers, then they use somemarketing concepts in order to satisfy their customers in professional way. In order to increasesales, maximise the profit and beat the competitor in market, they are using such types ofmarketing concepts in their restaurant business (Chandiok, and Sharma, 2017). There are someconcepts which are mentioned below:1.Production conceptIn the business, they should make an appropriate plan for price of the products andservices, so their customers can afford the services of the restaurant. Consumer will favourproducts that are available and highly affordable. This concept is one of the oldest marketingmanagement orientations that guide sellers (Atwal and Williams, 2017).2.Product conceptEach and every restaurant need to know that their products should be in quality and it hassome innovative feature and performance. In this way, people will get attracted to the productsand want to buy them. It will be more beneficial for the company, if they will offer effectiveservices and products to their customers.33Selling conceptConsumers will not buy enough of the firm's products unless it undertakes a large scale andpromotion effort. Therefore, they need to promote their products and service in the market sothat people will know about it and visit the place of the restaurant. If they will visit, then they1
will have some dishes of the restaurant. The aim of the organisation should be according tomarket needs.33Marketing conceptThe marketing concept plays an important role in the business. Achieving organisational goalsdepend on knowing the requirement and wants of target markets and delivering the desiredsatisfaction better than competitors do. Through marketing concept, people focus and value theroute to achieve sales and profit (Marketing concept, 2017).33Social marketing conceptIn this concept, they are marketing with social welfare. It is a strategy to deliver somebetter value and services to the costumers. When people will not be able to get their products andservices, then The Rex Whistler Restaurant should provide them in familiar way, so they will getthe products and services of the restaurant. It can be home delivery service or phone service.1.2 Impact of the marketing environment on the industryMarketing environment is a crucial player in deciding the success or failure of amarketing plan of an organisation. The Rex Whistler Restaurant operates in a micro and macroenvironment that keeps changing on a constant rate. If this change can be in business, then thereare chances to create some effective opportunities or threats. First, the cited restaurant and theirmanagement team should have analysis about the entire marketing strategies. So, if they willfollow the appropriate planning, they will be able to expand their business in other places. Theyshould coordinate with employees, suppliers, customers and arrange finance for the business.Along with this, The Rex Whistler Restaurant should analyse about their competitor and start theactivities which are attractive for the people. Marketing environment is the main thing in theorganisation, so its impact should be in positives (Tang, 2014). When company set their targetthen marketing environment help in increasing profit and achieving the target and goals.Marketing environment focuses on economic factors like current interest rate, GDP, disposalincome and consumption pattern is also effective as it directly affects the business operations.When in the company, they make a plan for marketing environment, they should have analysisabout the macro and micro factors. It impacts on company's political, technical, social, anddemographic factors. Political factors like policies of the government, patents, copyright systemas well as stability of the government should be considered as operating according to the lawsand regulations may be a tough task for the cited restaurant. Technology factors like software,2
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