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Marketing in Hospitality - Hilton Group

   

Added on  2020-06-03

15 Pages4508 Words137 Views
Marketing in Hospitality
Marketing in Hospitality - Hilton Group_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Concepts of marketing......................................................................................................31.2 Influence of marketing environment................................................................................51.3 Relevance of customer market in industry.......................................................................61.4 Rationale for developing different segments of market...................................................7TASK 2 ........................................................................................................................................72.1 Importance of elements of marketing mix........................................................................72.2 Pricing strategies and policies related to industry............................................................8TASK 3 .........................................................................................................................................93.1 Role of promotional mix..................................................................................................93.2 Advertising campaign planning for operation in service industry...................................93.3 Role of public relation and sales promotion in promotional efforts...............................11TASK 4 ........................................................................................................................................114.1 Relevance of market research to operations of service industry....................................114.2 Market research for appropriate product or service.......................................................114.3 Suitability of different media for marketing of product or service................................124.4 Implementation of marketing plan.................................................................................12CONCLUSION..............................................................................................................................13REFERENCES .............................................................................................................................13
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INTRODUCTIONMarketing is a tool which is essential for every organisation in order to ensuresustainability and success of any industry related to service including hotels. It is necessary formanagers to do market research and identify it to formulate marketing strategy for the firm. Thegeneral function of marketing in hospitality is to determine and understand the need ofcustomers, recognise market segments and developing the best marketing tool in order toincrease market share (Bowie and Buttle, 2011). In the present assignment, chosen company isHilton group of hotels which is a multinational hospitality firm. The report covers internal andexternal factors of business environment and their influence on industry. Marketing mix andpromotional mix are discussed in which different pricing strategies and roles of promotionaltools are evaluated. Assistance of effective advertisement and creative planning in order to attractand retain customers is defined in the report as well. TASK 11.1 Concepts of marketingIn hotel industry, marketing plays an important role in meeting the requirements ofcustomers. Number of products and services are the part of Hilton group of hotels in the form ofaccommodation, dinning, restaurant, leisure, etc. In order to increase the efficiency of services,concept of regional marketing has been used in the objectives and plans to be accomplished bycompany. As per marketing myopia theory, marketing managers must modify services andproducts by identifying the present marketing trends. It is the reason of growth of hotel industry.Different techniques to retain customers are used by Hilton group of hotels in order to gainloyalty of consumers and ensure sustainability and growth of the firm (Bowie and et. al., 2016).There are 5 concepts of marketing which are as follows: Product concept: In this concept, marketing strategies are used for continuousimprovement in product to meet the needs of customers. Production concept: It focuses on improving distribution and production efficiency.According to this concept, customers favour those products which are highly affordable.
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Marketing concept: It is customer oriented concept. In it, firms focuses on offering rightproduct to its customers in order to achieve higher sales and profits. Selling concept: In this concept, management emphasizes on generating salestransactions instead of developing profitable, long term customer relationship.Societal marketing concept: Main aim of this concept is deliver value to customers forthe well being of society rather then earn profits. Marketing process The process of marketing consist of ways that creates value for the customers to fulfiltheir needs. In this, situation is evaluated to determine opportunities, strategy is framed for valuepreposition, strategic decisions are made, plan is executed & results are monitored. Mentionedbelow are the steps of marketing process: Situation analysis: Environmental and situational analysis is done in order to determinemarketing opportunities, to understand own capability of firm and environment in whichcompany is operating. In this analysis, 5C's are analysed, i.e., customers, company,collaborators, competitors and climate. PEST and SWOT analysis are also conducted forsituational analysis of the market. Marketing strategy: After conducting environmental analysis and determining marketingopportunities, strategic plan is formulated to pursue these opportunities. It includes targetmarketing and market segmentation. Marketing mix decision: The decisions related to marketing mix are the controllablestrategies which affirms mix that gives desirable results of the selected market. In this stepelaborated tactical judgements are made for the manageable parameters of marketing mix. Itinvolves 4P's of marketing mix,i.e., product, price, place, promotion. Implementation and control: At last, marketing plan is executed and results of effortsare monitored to set marketing mix as per the market changes.
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