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(Doc) Marketing in Hospitality Industry

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Added on  2020-11-12

(Doc) Marketing in Hospitality Industry

   Added on 2020-11-12

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Marketing in HospitalityIndustry
(Doc) Marketing in Hospitality Industry_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Various concepts of marketing in hospitality industry.........................................................11.2 Impact of marketing environment on hospitality industry....................................................21.3 Evaluation of relevance of consumer markets......................................................................31.4 Various market segments......................................................................................................4TASK 2............................................................................................................................................42.1 4 P's of marketing mix...........................................................................................................42.2 Pricing strategics and policies...............................................................................................5TASK 3............................................................................................................................................53.1 Role of promotion mix..........................................................................................................53.3 Role of sales promotion and public relation.........................................................................64.1 Relevance of market research...............................................................................................7TASK 4............................................................................................................................................73.2 Advertisement campaign.......................................................................................................7Covered in Poster........................................................................................................................74.2 Market research for an appropriate product or service.........................................................74.3 Suitability of different media for marketing.........................................................................84.4 Evaluate the implementation of the marketing plan.............................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONHospitality industry is a group of businesses who are engaged in providing services totheir customers, these services are food serving services, accommodation, tourism, spa etc. Thisindustry is focused on the satisfaction of customers. The main aim of this project report is tobetter understand marketing if hospitality sector using various examples and marketing concepts.In this project report, several concepts such as product concept, selling concept etc. are discussedalong with relevance of consumer market. A detailed case study on Thomas Cook is analysed onhospitality sector in order to evaluate pricing strategies and policies. Methods such aspromotional mix and market research are conducted to give relevance to marketing process inthis industry.TASK 11.1 Various concepts of marketing in hospitality industryMarketing in hospitality sector is the set of promotional efforts which are performed by acompany which are directed towards the betterment of the organisation. According to thisprocess services rendered by the company are promoted and marketed in order to increase theirsales revenue and profit margin (Bharwani, 2012). Various marketing concepts are discussedbelow:Product concept: Under this concept, products provided by the company are evolvedand revised time to time in order to achieve highest level of satisfaction of the customers.For example, Cox & Kings provides primed and customised travel packages to attainmaximum satisfaction of their clients.Selling concept: Under this concept, various selling and promotional strategies areapplied by organisations in order to sell those services which are considered as nondesirable or purchasable by the clients. For example, Cox & Kings applying thesestrategies for their high priced tour plans.Marketing concept: According to this concept, organisations focuses on needs of buyersin order to achieve competitive advantage. For example, Cox & Kings deliverscustomised travel packages which can fulfils every single desire of their clients(Brotherton, 2012).1
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Societal marketing concept: Under this concept, an organisation such as Cox & Kingsmakes several efforts to ascertain needs, wants and desires of their target clients in orderto serve better to the society than their competitors. Delivering low budget travel planscan be example of this concept (Cook, 2014).1.2 Impact of marketing environment on hospitality industryMarketing environment is a combination of micro and macro environmental factorswhich influence business operations of an organisation and they are discussed below:Micro factors – These are the external influencers which are beyond the control of theorganisation and some of them are:Competitors: Hospitality industry is a face paced sector, due to which variousorganisations are engaged in this sector. Increasing number of competitive firms resultsin low market sharing.Customers: In hospitality sector, clients and guests are the customers and their demandsand needs impacts the firm's profitability and business operations. Intermediaries: In this industry, intermediaries are the middlemen and firms which helpsin procuring clients. For example various tour agencies suggests their clients certainhotels and flights to rely on (Cooper, 2012).Macro factors - 2
(Doc) Marketing in Hospitality Industry_4

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