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Marketing in Hospitality Industry Assignment Solution - Thomas cook

   

Added on  2020-10-22

12 Pages3822 Words484 Views
Marketing in HospitalityIndustry

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Concepts of marketing for service industry......................................................................11.2 Evaluate impact of marketing environment on industry..................................................21.3 Relevance of consumer market in the industry................................................................31.4 Rational for developing different market segments.........................................................3TASK 2 ...........................................................................................................................................42.1 Importance of components of marketing mix.................................................................42.2 Evaluate pricing strategies and policies in Thomas cook ................................................5TASK 3 ...........................................................................................................................................53.1 Role of promotional mix..................................................................................................53.3 Role of sales promotion and public relations in promotional efforts...............................64.1 Relevance of market research to service industry operations .........................................7Part 2 ...............................................................................................................................................73.2 Effective campaign plan by designing TV clip video .....................................................74.2 Market research for product or service ...........................................................................84.3 Evaluate the suitability of different media for marketing ...............................................84.4 Evaluate implementation of marketing plan ....................................................................9CONCLUSION ...............................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTION Hospitality industry consists of different fields in the service industry and it includeslodging, event planning, transportation, cruise lines etc. Marketing is important so that theindustry can easily promote the goods and services (Bharwani and Jauhari, 2013). Company canuse various methods such as advertising, publicity and online marketing to promote variousgoods. Hence, company can easily increase the profits and can enhance the market share.Assignment describes about the Mondrian London which is a hotel and give different services toall users. It was established in London in U.K. It also describes about Thomas cook which istravel and tourism company. It was located in U.K. Report explains about the different conceptsof marketing and evaluating the impact of marketing environment. It also describes about theimportance of components of marketing mix to industry and evaluate the pricing strategies inrelation to industry. It also discuss about the role of marketing mix and evaluate role of salespromotion and public relations. It also explain the planning of advertisement campaign forservice industry operations. TASK 1 1.1 Concepts of marketing for service industryMarketing can be refer as the study and administration of exchange relationships i.e.optimised to create, retain and satisfy the consumer. In simple term, it is the process in whichseller sells goods to buyers according to their needs and wants. Through this, hotel can easilyfulfil all requirements and results in increasing the satisfaction all users. Different concepts ofmarketing used by hotel industry are:Production: It is the concept in which hotel mainly focus on low production costs, massproduction and high production efficiency. Customers expect that they can receivecheapest goods from hotel. Hence, hotel sells goods and services at a lower rate. Theycreate goods according to needs and wants of all users. For example Mac Donald andBurger King uses this technique (Bowie and Buttle, 2011). Selling concept: It is the concept in which company sells goods and services according torequirements and demand of all customers. Production department helps in guiding andinstructing selling section so that they can easily sell the products. For example clubmembership given by Mondrian London (Chan and Guillet, 2011).1

Marketing concept: It is the concept in which goods are promoted by using varioustechniques. This concept is based on pull strategy state that company need to build strongbrand image so that consumer prefer their product. It includes advertising, publicity,direct marketing and online techniques. Through this they can easily promote the servicesof hotel and hotel can easily earn more revenues. For example Thomas cook uses thisconcept. Societal marketing concept: In this concept, hotel performs many social activities andthey can maintain good image in minds of all people. It includes giving money tocharitable institutions . Hence hotel can maintain positive image in society and they canexpand their operations in many countries. For example Mac Donald uses this concept. 1.2 Evaluate impact of marketing environment on industryEnvironment consists of different internal and external factors which can affect the hotel.For example Mondrian London has to evaluate the impact of marketing environment. Impact offactors on hotel industry are:Impact of micro factors: It is also known as micro environment. Factors are described below:Customers: Customers demand different services from hotel and hence they have to givedifferent and unique services to customers. It helps hotel industry to earn more revenues. Suppliers: Suppliers give inputs to hotel industry. Hotel has to give extra incentives tosuppliers so that they can supply good quality of raw materials. Competitors: Various companies and hotel are giving unique services to customers.Hence, hotel has to create plans and policies so that they can easily beat the competitors. Impact of macro factors: Macro environment includes the external factors which caninfluence the company. It includes political, economic, social, technological, environmental andlegal factors. If there is a situation when there all companies are using advanced technologiesthen, Hotel has to create different plans and policies so that they can easily adopt the advancedand latest techniques in order to easily satisfy all users and can earn more revenues (Hyun,2010). Hence, they can maintain positive image in minds of all users. This helps hotel industryto easily expand the operations in minimum time. 2

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