Marketing in the 21st Century

This report discusses the importance of marketing in the 21st century and focuses on the marketing environment, including PRESTCOM and SWOT analysis. It also covers stakeholder analysis, consumer behavior, and market segmentation. The case study revolves around Travelodge, the largest independent chain of hotels in the UK.

MARKETING IN THE 21ST
CENTURY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Marketing Environment...............................................................................................................3
PRESTCOM ..............................................................................................................................3
SWOT .........................................................................................................................................4
Stakeholder analysis ....................................................................................................................5
Consumer behaviour ...................................................................................................................5
Market segmentation....................................................................................................................6
CONCLUSION...............................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing refers to the activities to promote buying and selling of products and services.
It includes knowing the market place, finding out the requirements and delivering at right place
and time. Travelodge is a private company which operates in hospitality sector and is the largest
independent chain of hotels in UK. It offers accommodation and its products include fully
furnished double rooms, family rooms with room services, Wi-Fi etc. Present report will address
to the marketing environment of the company along with PRESTCOM analysis, SWOT analysis,
stakeholder analysis and will also describe consumer behaviour and its influence on buying
decision.
MAIN BODY
Marketing Environment
It is the combination of internal and external factors which affect the company ability to
build relations and serve the customer's. Internal factors are employees, customers, stakeholders,
distributors etc. whereas external factors sum up to PESTEL (Marketing environment, 2020).
This factors affect the decision making related to business operations (Camilleri, 2018 ). The
products of the company includes fully furnished family rooms and with their own bar cafe
restaurants. Reason for the investigation is it helps company in identifying needs of customers
especially while making the decision for purchasing a product.
The compay need to know the marketing environment as it helps in knowing the needs
and preferences of the customers and helps in analysing the current market trends which in turn
helps managers to take effective decisions, and to come up with innovation by studying
consumer behaviour and to deliver products that satisfy customer's needs.
PRESTCOM
This are political, regulatory, economic, social, technological, competitive ,organisational
and market factors affecting the business. This are the factors which are unavoidable and on
which company has no power to execute.
Political factor
When government of UK launched a policy named Data Protection Act company has to
comply with the same to ensure privacy of their visitors. This in turn have positive impact on

company as with compliance to the act it will help in developing trust among its customers as
their data is highly secured.
Regulatory factor
Hospitality industry is subject to large number of regulations , hotels operating overseas
must adopt to the local laws as there is wide range of laws which represent burden on company
which may sometime translate into loss of competitveness.
Economic factor
When the UK tourism went down due to visitors planning their holidays overseas it
affected the business a lot in terms of revenue but after 2011 it generated lot of tourism which in
turn created lot of employment opportunity in UK.
Social factors
Currently the customers are protective about the environment and society and the
company is taking steps towards protecting environment and investing millions for society
welfare by conducting CSR activities in the field of helthcare, education etc.
Technological factors
Company major part of bookings are made online where the company has set the online
booking process very simple and easy to understand which attracts large number of customers . It
has affected the company in a ways that its processes are being centralised and there is an online
presence of company available which will enable its customer's to access about company
information anywhere and anyday.
Competitive factors
As there is competitive price being prevailing in the market, competition such as holiday
inn, La quinta and many others may try to attract the customers by offering special discounts
which needs to be closely monitored by the company.
Organisational factors
This factors are related to the the culture of an organisation, how does communication
happen in the company, what is structure of the company and what are role of the employees and
the hierarcal reportings which will positive affect the company.
Market Factors

It mainly focuses on factors such as demand and supply, interest rates, recession, which
the company has to comply with as these are the factors which are directly related to sales of the
organisation.
SWOT
STRENGHTS. Travelodge provides business
account card which helps business travellers
with the ease of booking rooms. It also
provides affordable room rates which is the
major reason to attract large target base,
WEAKNESS. Travelodge does not have wide
range of facilities and is not ideal for the
parties or families requiring huge spaces .
OPPORTUNITY. Opportunity for the
company lies in expanding its business
overseas and also opting out to partnership to
increase the reputation of the company
(Travelodge: Comprehensive Business
Analysis and International Expansion Plan,
2020)
THREATS. Others competitors might beat up
with the market of the company as competitive
price is prevailing in the industry. As the rooms
of the company are affordable but at the time
when economy is on boost the income level
will be high so customers might opt for visiting
overseas high end hotels.
Stakeholder analysis
High power low interest. This includes
members from general public who not even
necessarily aware of the projects and can also
be the persons such as sponsors, regulators etc.
High power high interest: This are the people
of the company who manages organisation
closely. This includes top managerial personnel
such as board of directors, CEO, CFO,
managers etc. of organisation.
Low power low interest. This includes member Lower power high interest. This includes

such as receptionist, system administrators,
ground staff whose interest and power both are
less (Clausen,and et.al., 2020).
members such as trainers, developers, suppliers
etc. who have low power in an organisation
but accounts to high interest.
Consumer behaviour
It is the process of consumer’s behaviour that shows how they choose, use and dispose
of the products/services. It includes mental, emotional and behavioural responses towards
purchase of goods/ services. It helps organisation to design products which satisfy needs/
demand of the customer's.
Benefits
It also helps organisation in deciding the price at which the consumer is willing to buy.
It not only helps the company in knowing what customer's purchase but also helps in knowing
why they purchase.
Process-
It includes recognising the problem which the customer is facing, then searching for
valuable information related to products, evaluating on different alternatives and then selecting
final product or making purchase decisions.
The customers for company are overseas business passengers, high end families who
come for vacations etc.
As the company is providing excellent range of product/services customer's hope from
company to provide with good atmosphere, ambience etc. and they hope what they have spend is
worth.
As the company is providing quality services customer's are willing to pay prices charged
by the company.
They often look for other providers as there is competitive price prevailing in the market
(Stankevich, 2017).

Market segmentation
Division of market of customers based on different groups based on characteristics of
customers, includes segmentation, targeting and positioning which helps in retention of
customer's and providing better opportunity for growth.
Segmentation is on the basis of demographic, psychographic, geographic and behavioural
factors.
Targeting refers to the end customer's to which the end products of the company are sold and can
be also referred as targeting the best segment of customer's
Positioning is creating an image in the minds of customer's or creating the value of products/
services in the minds of target customers.
By new hotels being coming up with strengthened quality assurance company is in
continuous path of achieving higher profits and growth in hospitality industry.
Market segments for company is overseas business passengers as the data showed they
account for half of the sales of company for low cost hotel chains of company and this is
segmentation based on geographic as there are passengers from different countries.
Target segment is high end families or leisure class families coming to stay in vacations.
Company position itself by providing accommodation to it guest and committed for best
services at an affordable price to its passengers.
Competitors prevailing for the company are Holiday inn, la quinta etc and their USP is
mostly the ambience, attractiveness, hygiene and cleanliness of hotels (Indiani). The competitors
are into the same business as travelodge is of providing rooms, bars, cafe restaurants to the
visitors. The company seek to offer unbeatable value than its custtomers in business travel and
high end class which turns out to be a USP for the company.
CONCLUSION
From the above report it is being understood that marketing is very essential for the
organisation and proper understanding of environment factors will lead to success for an
organisation which could be understood through PRESTCOM, SWOT, STP stakeholder analysis
and also by knowing what is consumer need and delivering the products accordingly.

REFERENCES
Books and journal
Camilleri, M.A., 2018. The marketing environment. In Travel marketing, tourism economics and
the airline product (pp. 51-68). Springer, Cham.
Chandra, M., 2019. ANALYSING THE IMPACT OF MARKET PLANNING IN
HOSPITALITY INDUSTRY. NOLEGEIN-Journal of Leadership & Strategic
Management. pp.6-8.
Clausen, L.P.W.and et.al., 2020. Stakeholder analysis with regard to a recent European
restriction proposal on microplastics. PloS one.15(6). p.e0235062.
Indiani, N.L.P., FACTORS INFLUENCING ACTUAL CONSUMER BEHAVIOR IN ONLINE
BOOKING IN THE HOTEL INDUSTRY. GLOBAL CONNECTIVITY. p.233.
Stankevich, A., 2017. Explaining the consumer decision-making process: Critical literature
review. Journal of.
Online
Marketing environment. 2020. [Online]. Available through:
<https://businessjargons.com/marketing-environment.html>
Travelodge: Comprehensive Business Analysis and International Expansion Plan. 2020.
[Online]. Available through: <https://toughnickel.com/industries/Travelodge-
Comprehensive-Business-Analysis-and-International-Expansion-Plan>