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Role of marketing in hospitality industry INTRODUCTION 3 TASK 13 1.1 Concept of marketing in hospitality industry

   

Added on  2020-10-04

16 Pages3924 Words79 Views
Marketing in HospitalityIndustry

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Concept of marketing for a relevant hospitality industry......................................................31.2 Influence of marketing surrounding......................................................................................41.3 Relevance of buyers market..................................................................................................6TASK 2............................................................................................................................................82.1 Elements of marketing mix...................................................................................................82.2 Analysing pricing policies and strategies..............................................................................9TASK 3............................................................................................................................................93.1 Role of promotional mix.......................................................................................................93.3 Role of sales promotion and public relation play within promotional efforts....................10a) 5 kinds of sales promotion....................................................................................................10b) 5 ways of using public relation as promotional technique....................................................114.1 Relevance market research..................................................................................................11TASK 4..........................................................................................................................................123.2 Plan of advertisement campaign.........................................................................................124.2 Market research for adequate products and services...........................................................134.3 Different marketing media for adequate products and services..........................................144.4 Evaluate the applying of marketing plan............................................................................14CONCLUSION .............................................................................................................................15REFERENCES .............................................................................................................................16

INTRODUCTIONMarketing hospitality is termed as the study and management of exchanging relation tosatisfy, retain and create buyers (Alserhan, 2016). It takes a look at various segments ofhospitality services like as amusement parks, accommodation and Food oriented services uponwhich marketing tactics are applied so that good and services can be sold. Hospitality industry isdefine as a marketing efforts which direct towards increasing of revenue within hospitalitysector. Thomas Cook is an organisation that is being undertaken in the second section of thereport. It is one of largest travel group all over the globe and it is the company second largest inUK. In this report it involve all the concepts of marketing and impact of its surrounding. Alongwith this also discuss the role of promotional mix. The assessment will be carried out on theimportance of marketing for a business along with its components. The development ofindividual portfolio will also be carried later in this report.TASK 11.1 Concept of marketing for a relevant hospitality industryMarketing is a process, activity or set of communication, exchanging, delivering andcreating various offer which gave value to society and customers at large number (Bowie, Buttleand et.al., 2016). Some of concepts of marketing for hospitality services which are as follows:Illustration 1: Marketing concepts

(Source: Marketing concepts, 2018)Product concept: According to management, if firm is producing a quality goods atcheaper cost then then it need very less marketing efforts. For example: Hospitalityindustry is giving service quality at low prices (Chen and Chen, 2014). Production concept: In this, organization produce the goods & services according to itsbuyers needs. For example: Hospitality industry is providing products as per buyersrequirements and wants. Selling concept: In this, buyers will not buy their products unless company will notencourage them to purchase their goods and services. For example: Hospitality industrypromote their products & services by using social media. Marketing concept: In this, organization identify the buyers requirements for fulfillingtheir needs and wants. For example: They are taking feedback from their customers andanalyses their needs for fulfilling them. Societal marketing concept: In this, Hospitality industry focus on satisfying customersrequirements for a long time to achieve objectives and accomplish practices of socialwelfare. 1.2 Influence of marketing surroundingMicroComponents of micro environment are competitors, suppliers, distributors, public andcustomers (Del Chiappa and Baggio, 2015). All these factors are having its positive as well asnegative impact. Some of are explained below: Suppliers: This help in controlling the success of enterprise when firm is holding power. ThomasCook supply the services in the market. Positive impact:Organization gives the products within various areas. Negative impact: The suppliers can form monopoly as they can charge prices as per theirwishes from the businesses. Customers: Buyers are acquirer of products, service and idea goods which is get from suppliers,seller or vendor by exchange or financial transaction. Positive impact: Consumers help in raising the sales of an company.

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