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Marketing in Hospitality Industry Assignment - Granada and Thomas Cook

   

Added on  2020-10-22

17 Pages4208 Words170 Views
Marketing in HospitalityIndustry

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1 ...........................................................................................................................................31.1 Concepts of marketing..........................................................................................................31.2 Impact of the marketing environment on the industry..........................................................41.3 Evaluate the relevance of consumer markets in the industry................................................51.4 Developing different market segments.................................................................................6TASK 2 ...........................................................................................................................................72.1 Importance of the components of marketing mix.................................................................72.2 Analyse pricing strategies and policies.................................................................................8TASK 3............................................................................................................................................83.1 Role of the promotional mix.................................................................................................83.2 Role that sales promotion and public relations....................................................................84.1 Relevance of market research..............................................................................................9TASK 4............................................................................................................................................93.2 Covered in Poster..................................................................................................................94.2 Undertake market research for an appropriate product or service........................................94. 3 Suitability of different media for marketing......................................................................114.4 Implementation of the marketing plan...............................................................................12CONCLUSION .............................................................................................................................13REFERENCES .............................................................................................................................14

INTRODUCTIONMarketing is crucial tool to identify the needs and demands of the customers andsatisfying the same with company's products and services. It needs to keep an eye on changingtrends that would aid to construct strategies and plan to attain the organizational goals (Bowieand et al, 2016). The report is based on the hospitality industry which is very well known forrecreation, dining, accommodation services and facilities . This report is based on twoorganizations namely Granada and Thomas Cook and with these travel and tourismorganizations underpins marketing concepts, impact of marketing environment, relevance ofconsumer markets, marketing segments, marketing mix pricing strategies and policies. Inaddition it also includes promotional mix, sales promotion and public relations, market researchalong with advertising campaign, marketing media and marketing plan . TASK 1 1.1 Concepts of marketing.Marketing plays a significant role for the hospitality industry and it will support to the leadersof hospitality industryin order to meet their objectives. The main goal of the industry is to meetcustomer's expectations, their needs and requirements (Chan and Guillet, 2011). There is a huge rangeof hospitality products and services in the form of restaurant, dining, accommodation and leisure. Thehospitality industrycan apply marketing to fulfil the customer's demands with the following concepts -Product concept – If hospitality industrywould be able to provide quality of the product andservices with an economic price then it would need to put less marketing effort in order to meet thegoals of the organization. For an example, the hotel can provide quality food that will be enough tocatch the attention of people. Selling Concept – According to the selling concept the targetted customers would purchasethe products only when the product will be promoted aggressively. The product needs to promote withintensity without knowing the customer's needs so that the customer would can buy the product (Hsu,Oh and Assaf, 2012). For an example, the hospitality industrycan promote the accommodationservices without knowing the customers requirement and the customer purchase the product to stay. Marketing Concept – Marketing concept is concentrated on identifying the needs of thecustomers which is essential for the organization to be successful in long run. Because its core focusesis on satisfying the customer is an effective way.

Societal marketing concept – Societal marketing is centred to provide contentment to theend user of the products and services in order to meet the objectives and goals of the hospitalityindustry. 1.2 Impact of the marketing environment on the industry.Marketing environment has an important role for the organization to decide the success orfailure of a marketing plan which is adopted to promote the Granada hotel. The hospitalityindustryoperates on both the micro and macro environmental factors which can be altered (Kotler,2013). These changes can be beneficial for the opportunities and can also work as threats. So itbecomes important to analyze micro and macro environment. There are different aspects of suchenvironment and that given as below - Micro environment – SWOT analysis Strength Weaknesses The main strength of Granada it provides a fun experience.It has friendly staff to assist and resolvegrievances. If the company is new and then it would have less market share. opportunitiesThreats Increasing demand for budget hotelsdue to in tourist destinations.Better facilities are providing by therivals. Micro environment – PEST analysis Political factors – Government taxes, laws and regulations creates a deep impact on thehospitality industry. The hospitality industry has to follow the rules and regulation that are establishedby the government in order to operate the business effectively and without any disruption. Economical factors – The business depends upon the per capita income and GDP of thecountry. The business of the Granada the depends on these factors because there it can increase anddecrease the spending power of the people (Leung and et. al., 2013). If per capita income is higherthen people have the power to spend their dollars on recreation but if it is less then it will impact onthe hospitality business. Social factors – The preferences of people can be impact on the Granada because they mayhave different ideas and thoughts that can affect the image of the hotel.

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