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Report on Marketing Principles of Hilton Hotel

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Added on  2019-12-03

Report on Marketing Principles of Hilton Hotel

   Added on 2019-12-03

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MARKETINGPRINCIPLES
Report on Marketing Principles of Hilton Hotel_1
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Various elements of the marketing process...........................................................................31.2 Benefits and costs of a marketing orientation........................................................................42.1 Identification and analysis of macro and micro environment................................................52.2 Segmentation criteria.............................................................................................................72.3 Target Strategy.......................................................................................................................72.5 Product Positioning................................................................................................................82.4 Buyer's behaviour in different buying situations...................................................................83.1 Development of product/services to sustain competitive advantage.....................................93.2 Product Distribution...............................................................................................................93.3 Pricing Strategy......................................................................................................................93.4 Promotional Activity............................................................................................................103.5 Additional elements of the extended marketing mix...........................................................10Task 2.............................................................................................................................................114.1 Marketing mixes for the two different segments in consumer markets...............................114.2 Differences between B2B and B2C.....................................................................................114.3 Differences in international marketing and domestic marketing.........................................12Conclusion....................................................................................................................................13References......................................................................................................................................142
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INDEX OF TABLESTable 1: Cost and Benefit Analysis.................................................................................................5Table 2: Porter's 5 Forces Model.....................................................................................................6Table 3: SWOT Analysis.................................................................................................................8Table 4: Buyer's Behavior..............................................................................................................10Table 5: Marketing Mix in Different Segment..............................................................................13Table 6: B2B v/s B2C....................................................................................................................14Table 7: Domestic Marketing v/s International Marketing............................................................15ILLUSTRATION INDEXIllustration 1: Porter's 5 Forces Model.............................................................................................7Illustration 2: SWOT Analysis.........................................................................................................83
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INTRODUCTIONMarketing principles are the guidelines for conducting marketing process in an effectivemanner. This involves a range of processes which are required to carry out the findings aboutconsumers needs and wants thereafter providing and satisfying their needs (Cochoy, 2014).Marketing principles aids the seller to meet their ultimate consumers in an effective manner. Forbetter understanding of the topic, marketing activities of Hilton Hotel has been taken intoconsideration and in depth study have been conducted. Further, this report describes the conceptand process of the chosen organization and the company's ability to use the segmentation,targeting and positioning. Moreover, discussion has been made about the extended marketingmix in Hilton Hotel and also the ability of a firm to use the marketing mix (Darley and Blankson,2008). TASK 11.1 Various elements of the marketing processMarketing process is a process which is followed by the Hotel Hilton to reach itscustomers for providing the services in an effective manner. Hotel follow the process in order toattract large pool of customers (Dooley, Jones and Iverson, 2012). There are several elementsinvolve in the process which are described below:Environmental Scanning:By using scanning tools such as SWOT, PESTLE and valuechain analysis, hotel scan the environment in order to assess the favorable andunfavorable factors prevailing in the internal and external environment.Identification of Target Market: After assessing the environment, hotel target its marketsuch as high income group people of age group 18-65 from various regions and countries.Setting Objectives:Organization sets the objective so that it provides a guidance to themso that they take further step accordingly. For instance, hotel set the objective to increasethe profit by 25% till next year. Applying Marketing Mix: After setting the objective company plans the action andimplement marketing mix in order to achieve its objective (French and Bennett, 2015). 4
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