logo

Marketing in Hospitality Industry Assignment PDF

   

Added on  2021-01-03

12 Pages3764 Words322 Views
Marketing in HospitalityIndustry

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Concepts of marketing for relevant services within industry...........................................11.2 Impact of marketing environment....................................................................................21.3 Relevance of consumers markets.....................................................................................31.4 Rationale for developing various segments of marketing................................................4TASK 2............................................................................................................................................52.1 Components of marketing mix.........................................................................................52.2 Analyse pricing strategies and policies............................................................................5TASK 3............................................................................................................................................63.1 Role of promotional mix..................................................................................................63.3 Role of public relation and sales promotion play in promotional efforts.........................6a) Five types of sales promotion.............................................................................................6b) Five ways that public relation use in part of promotional tool.........................................74.1 Relevance market research...............................................................................................7TASK 4............................................................................................................................................83.2 Completed Flyer...............................................................................................................84.2 Market research for appropriate goods and services........................................................84.3 Different media of marketing for appropriate goods and services...................................94.4 Evaluate the implementation of marketing plan...............................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11.......................................................................................................................................................11

INTRODUCTIONMarketing is an effective process of delivering quality products and services to end users.It play important role in building positive brand image, customers loyalty towards the company'sservices. Mainly, marketing in hospitality is an important term which study of exchangingrelation which the purpose of retaining customers for longer period of time (Alserhan, 2016).Thomas cook is one of the popular travel company in over the world. The main reason ofattaining success in market place is its commitment towards the customers. The second part ofthis assignment takes into consideration Thomas Cook, it is a tour and travel company operatingin the market of United Kingdom. Current report discussed about marketing concepts andbusiness environment of the firm. Relevance of customers markets is also mentioned in thisproject. At the last various segments are also covered in this assignment which help indeveloping in market place.TASK 11.1 Concepts of marketing for relevant services within industryMarketing consider as an important activity for every business organization throughwhich firm can easily communicate, exchange and deliver value to customers in order to attainmajor economic benefits. With the help of this, company enhance their profitability level atmarket place and at the same time also capture larger marker share compared to its rivals. In thiscontext, there are some effective marketing concept which used by the company to make theirprocess appropriate:The product concept: In this, is company manufacture its products and services at lowcost then they easily increase their customers base. Thus hospitality induistry needs tofocus on producing quality products at affordable cost (Bowie, Buttle, Brookes andMariussen, 2016).The production concept: Under this, company manufacture quality products and servicesby considering customers needs and wants. The main focus of this concept is to provideproducts at affordable cost This will help in increasing satisfaction level of the customerstowards company products. 1

The selling concept: In this, company needs to promote their products and services inmarket for inviting customers towards its products and services. In-absence ofpromotion, customers are not aware towards the company products.The marketing concept: In this concept, company evaluate the customers needs andwants for providing them better satisfaction level. For example, hospitality industrymeasure the customers needs before making any kind of holiday packages. The societal marketing concept: Under this, company focus on customers needs andwants along with equitable consideration to welfare of society as a whole. This will helpin attaining long term benefits in appropriate manner (Chen and Chen, 2014). 1.2 Impact of marketing environmentIMarketing environment is the combination of internal and external factors which directlyaffect the overall performance of the company. In market, there are two type of environmentwhich impact on market and company performance level. These are as follows:Micro: This type of environment includes various factors such as distributors, customers,competitors, suppliers and many more. All these are having positive and negative impact whichcan be understood by following points:Suppliers: When the company hold the power than suppliers are able to control the overallsuccess of the company. Along with this, they also supply the finished goods to company andmarket place as well.Positive: The main positive impact is that it supply the goods in various market areaswhich helps in maintaining successful relations with consumers.Negative: Suppliers can increase the cost of raw material in condition of suppliermonopoly.Customers: Consumers are those people who buy company products and services by givingvaluable consideration (Del Chiappa and Baggio, 2015). Positive: One of them main positive impact of customers is to increase sales andprofitability level of the company. Negative: If company fails in satisfy customers demand then they reduce company'simage in market . Macro: These are external environment which are uncontrollable by the firm. It includespolitical, social, environmental, technological and many more. All these are put positive and2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
MARKETING IN HOSPITALITY INTRODUCTION
|15
|4037
|273

(PDF) Marketing in Hospitality - Assignment
|13
|3708
|313

Role of promotional mix in Thomas Cook
|17
|3875
|180

(PDF) Marketing in Hospitality and Tourism
|14
|4253
|235

Doc- Marketing in Hospitality Industry
|15
|3887
|185

MARKETING IN HOSPITALITY INTRODUCTION 3
|15
|3844
|341