Marketing in Hospitality Industry

Marketing in Hospitality Industry

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
1.1: Discuss concepts of marketing for a relevant services industry...........................................1
1.2: Assess the impact of the marketing environment on the industry........................................2
1.3 Evaluate the relevance of consumer markets in the industry......................................................3
1.4 Discuss the rationale for developing different market segments...........................................3
Part B................................................................................................................................................4
Task 2...............................................................................................................................................4
2.1: Assess the importance of the components of marketing mix to the industry.........................4
2.2: Analyse pricing strategies and policies in relation to the industry.............................................5
Task 3...............................................................................................................................................6
3.1: Evaluate the role of the promotional mix.............................................................................6
3.3 Analyse the role that sales promotion and public relations play in promotional efforts............6
4. 1:Discuss the relevance of market research to service industry operations................................7
Part 2.................................................................................................................................................7
Task 4...............................................................................................................................................7
3.2 Plan an advertising campaign for a services industry operation.................................................7
4.2 Undertake market research for an appropriate product or service...........................................8
4.3 Analyse the suitability of different media for marketing an appropriate product......................9
4.4 Evaluate the implementation of the marketing plan for an appropriate product or service........9
Conclusion........................................................................................................................................9
References.......................................................................................................................................11

INTRODUCTION
Marketing in the hospitality industry is the marketing efforts which helps to increase the
revenue in the hospitality industry. Marketing is that process which helps to bring the
organisation's product or service in front of the customers. Hospitality marketing also provides
facilities such as fun, luxurious and relaxing atmosphere( Goldberg and Majka, Zoomdining, 2017).
In hospitality marketing, marketer ensures the brand awareness to exists which helps them to
create repeated customers and those repeated customers results in increase in revenue. The
following report will cover marketing concepts, impact of marketing environment on the
industry. Further it will cover importance of components of marketing mix in Thomas cook and
it's pricing strategies. And lastly this report will cover an advertising campaign and undertake
market research for an appropriate product.
Task 1
1.1: Discuss concepts of marketing for a relevant services industry.
Marketing is the process of promoting company's product or services to bring it in front of the
customers. Marketing includes those activities which are undertaken by the company for buying and
selling their product or service in the market. Advertising, selling, promoting, delivering goods on
time, etc. are the activities in marketing.
Marketing concept is the philosophical system that should analysed by the firms to know the
needs and demands of the consumers and then take the final decision to meet those needs. Thomas
cook is a tourism company in hospitality industry. Concept of marketing for Thomas cook is as
follows:-
 Product concept :- Thomas cook focuses on the product concept and it also believes
that the product quality and functional feature are very essential for customers to buy
them.
 Selling concept :- selling concept is used by those companies which are sales oriented.
Sales oriented means that they make their product and sell it to their targeted market.
 Marketing concept :- aggressive marketing policies are adopted by the Thomas cook
group to increase its brand image in the global market.
1

 Societal marketing concept:- this concept focuses on giving the customers satisfaction
and social welfare. By using this concept by Thomas cook, it receives long term
profit.
1.2: Assess the impact of the marketing environment on the industry
The growth and development of the hospitality industry is greatly affected by the marketing
environment. Marketing environment consist of both external and internal business factors that highly
influences the industry(Kandampully, Zhang and Bilgihan, 2015.). It is the responsibility of the
company to analyze all these internal and external factors and try to reduce their impact on the
hospitality industry. For example, during recession i.e. economic condition, the consumers prefer not
to spend excess for international holidays as they consider it as an expensiveness. Therefore, they
prefer to spend on domestic vacations. In this contrast, the businessmen also select the best and lowest
price to gain accommodation for their business. Factors such as power of customer spending,
exchange rate differences, etc. in this marketing environment greatly affect the hospitality sector.
Micro environment factors :-
 To suppliers :- when the supplier hold the power, they can control the success of the business. The
buyer is not important to the suppliers.
2