Marketing Principles and Their Application to Hilton
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This report discusses the key marketing principles and their application to Hilton, an American Multinational Hospitality company. The report covers the seven marketing principles, including marketing mix, product, place, price, promotion, people, process, and physical evidence.
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 TASK1.............................................................................................................................................3 Key marketing principles and how these apply to chosen organisation......................................3 Explaining importance of marketing plays in strategy planning and to create an appraisal of rationale of current marketing decisions for chosen organisations.............................................5 Considering innovation in product or service design in meeting needs of customers in line with chosen organisations....................................................................................................................9 Exploring service excellence and assess how organisations use a number of techniques to enhance their relationship and communication process to generate purchases to enhance sales. .....................................................................................................................................................9 CONCLUSION..............................................................................................................................10 REFERENCES................................................................................................................................1 Online..........................................................................................................................................1
INTRODUCTION Marketing is defined as a human activity in which marketer main aim to satisfy needs and wants of customers and their primary focus on that what the consumerwants and what they are purchasing. It is the process of executing and planning the pricing, and distribution of goods and services to make exchanges of products to fulfil individual objectives. The current study is based on Hilton was founded by Conrad Hilton in year 1919 in Cisco fall under the category in Public, it’s an American Multinational Hospitality company which manages a wide portfolio of resorts and hotels. This report will cover key principles of marketing and to know that how these apply and to appraise rational decisions of marketing is taken by the chosen organization. Furthermore, this study will justify concepts of segmentation, targeting and positioning related to particular product or service. TASK1 Key marketing principles and how these apply to chosen organisation There are seven marketing principles which help organization in promotion of goods and services so that performance of marketing may be increased. It also assists company to boost their products and gain in growth of income by promoting through advertisements, campaign, or newspapers etc (Marketing,2021). Marketing Mix- The main purpose of marketing mix is to find out right collection of products, promotion, price, place so that company may use different strategies to sale their commodity. An effective marketing mix includes meet customer needs to achieve organisational objectives and try to create a competitive benefit for business. Product- In the context of chosen company provides better products related to hotel industry like rooms, proper breakfast and coffee, fitness centre, bag service, valet parking etc. The range of their services is large and includes meeting in which they understand the queries of customers and also some facilities involve wedding and banquet, special events, food and beverage services, gift shops. There are mainly focus on two levels core and facilitating products. Customers generally focus on core products because in this, specific commodities are providing by them and also in this involve peripheral services as like additional goods above core production so that business may offer to acquire competitive edge in marketplace. Place- In the context of Hilton the ultimate goal of distribution strategy for any hotel industry may be specified as to make products are available for consumers when, where and how
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they want to prefer. They always think about the interest of customers because they are only way by generating profit for organization. Hilton serves guests all over world and there are more than 745000 rooms in more than 200 countries. Firstly the company has website which provides an effective platform for distribution of service so that they may supply in wide area and providing practical help to customers like booking a room, scheduling meetings and booking for airport tickets. The primary reason behind selection of internet so that they may promote their services and meets customers’ demands. Price- This company focus on pricing strategies may be divided into four categories such aseconomic,penetration,premiumandskimming.Economystrategyincludesthatthose products which they are selling must be with basic features and then may give to customers at low cost. Skimming pricing involves that they are offered on high price levels as comparison to current competition (Appel and et.al., 2020). It may include desire to associate goods or services with high quality. Penetration means offers high quality products at low prices than competition to gain market share. Under this premium strategy company charge high for services and also maintain excellent quality and add additional advantages and features. Hilton offers five star rooms and company is capable to charge from customer at high levels. Promotion- This company promote their products via advertising, newspapers and has an online website. They update regularly about their products on social media and also say to customers be connected with sites. To boost attention and profits the company work with social influencers and hire top Instagram creators to get them posted their commodities by which their profits may increase (Hole, Pawar and Bhaskar, 2018). They also focus on seasonal promotions like sometimes give discount on festivals and other events because in any festive season customers come in a large range to stay in hotel. Also provide completed rooms along with decorative ideas as any couple wants to celebrate their anniversary and to take honeymoon suits. People-In the context of Hilton they maintain a good work culture and also maintain hygiene, environment so that customers may not feel discomfort. There are many employees who work in hotel industry they want to make their career in this line. The managers keep take care of workers and provides benefits to them like competitive salaries, educational assistance, health programs and to pay parental leave. Those workers are working there they also think that live with hi gene, to leave their life easily. People are a significant factor in 7 p's because
company provide quality services at same time to costumers when they want. Due to this the behaviour of people is necessary to determine experience of customer. Process– This hotel industry generally used network to distribute their goods and services and also show their products on website so that customers may direct buy form respective sites. Nevertheless, process is usually followed by consumers that they don't have to face any problem related to commodities. Organisations want to keep decent relations with them after purchasing process. It includes service delivery on time, complaints and response time. It refers to actual procedure, flow of activities and mechanisms are used to give services (Bala and Verma, 2018). The marketer may plan that goods may be delivered carefully and to make sure about quality because of this customer may be confident. For example, Hilton has moved fast to business mode, introduced a new approach for the perspective of customers in order to fulfil business needs. Physical evidence- In the context of chosen industry, it means that organisations make creative website to attract customers so that they may purchase in large quantity. The company may provide effective services so that customer may attract towards organisation.They keep main focus on consumers wants and needs, there any problem where customers face regarding product so that staff members may help efficiently and effectively. It is a necessary factor because in this the manager of hotel shows right information on sites. For example, the company provides facilities keep focusing on covid 19 as they maintain hygiene so any person wants to go hotel their expectation may be clean and friendly. Explaining importance of marketing plays in strategy planning and to create an appraisal of rationale of current marketing decisions for chosen organisations. It helps to identify actions required to attain goals because this is very useful approach to fix overall goals of marketing. It also assists to take right decisions to accomplish the objectives in order to generate revenue for organisations. In the context of Hilton they always understand customers problems then they try to solve them. They take information from customer about products so that they may know about the quires and then resolve it. Marketers use various marketing strategies to develop new products and techniques.To build a strong marketing strategyisdifficulttobuilda brandbecausewithoutattractingwithcustomersandthe maintenance of loyalty may not attain higher value (Rust, 2020). Hotel marketing ideas may always involve customer relationship management system and these are significant for hotels to
get developed trust from customers. Marketing strategy aids to discover areas for consumers where they are unable to go which may increase the growth of organization. The main role of marketers is to focus on what are factors in which they choose a specific hotel service. To speak with current and new guests, knowing customer reviews at websites and learn how may improve their services. Their important purpose is to guide marketing people to focus on their work. Marketing Strategy helps in making plan only for achieving those marketing objectives which are being used by the organisations. A strategic marketing plan as a tool to measure current environment and to understand that what the resources are available. Marketers design strategy by choosing target market and identify that which company wants to sale their products. Marketing decisions are those which are taken by marketing manager to accomplish ultimate goal of organisations. The main purpose of this decisions to reach predetermined objectives of an hotel industry (Jarek and Mazurek, 2019). Managers make different types of plans for various products and services. It delivers product which satisfy needs of target market at high price level that show its value. There are four major decisions in which company decides best for the organisations perspective so that it may help in reaching highest point. Product-In the context of Hilton, these are related to physical and tangible products along with services. There are many decisions which are related to commodity like functionality, quality, warranty, styling, accessories and services. The company takes decisions regarding products which they are selling in the industry and main focus on quality because a customer only judge it. They want that consumer believe on them so their primary direction towards customer satisfaction. They keep best services in the first category to enhance their productivity and to attract to customers Price-To make best decision they have to form pricing strategy means products and services set on fixed value. Marketers sale their commodities at low cost so that consumer may buy at any way. In these include bundling, in which company pack various goods together in one single unit to charge money from customers at low price so that they may purchase each and every item. After making items they think about place where have to distribute it and sometimes give discount on products. Managers may link with price of a commodity and also believe on supply costs and seasonal discounts.
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Place-In the nature of the chosen organisation when any company takes decisions about place and try to find out where they may sell any product. The important goal of any business that those commodities which are being sold by them customers like all. There are many places where Hilton are situating at different locations. It is very easy for customers to find location because it is clearly mentioned on map by the company. Promotion-In the context of organisation these are the important decision of marketing mix cover various features of marketing communication. There are different techniques used by marketers to promote their products and services at large scale. Their main focus on what the customer wants and positive response They may promote by making promotional strategy and doing sales promotion or through advertising via social media like WhatsApp, Facebook and Instagram etc. Link with other functional areas Marketing with Finance-They both are the two pillars on which company's growth are dependent. Finance is concerned with financial aspects like profits, costs, sales of growth etc. Theybothareimportantbecausebyworkingtogethertheirmainfocusonincreasing organisational productivity. Marketing and finance share same commercial point of view and acknowledge each other values. For example, marketing department in order to contain market research, create content and endeavour other activities, may require particular amount which they may obtain with help of finance department. Marketing with Human Resource- Just like above two functions, marketing and human resource department perform together by sharing information regarding employees needs at workplace. For example, they communicate and collaborate with each other to hire best employeefor companywhomaycontributeinachievingtheobjectivesof organisations (Alalwan and et.al., 2017). HR find out best people to promote their services and build brand for them. Marketing with Production Department-The production department may focus on the development of new products, by ensuring overall process is completing by considering the needs of customers. Marketing and production departments are interrelated with each other on the basis of their activities. For instance, marketing section may share that information which production departmentmayutilizeand consider whileproducing or offering productsto consumers.
Marketing with IT Department-Both are the important functions of respective company because marketing and IT department are interrelated on the basis of practices. For example, Marketing department may take help from IT department to solve any technical problem and to use innovations and technologies. Marketing and Research and Development-Research and Development department helps marketing to develop new products, services or processes. Both the departments share the updated information related to markets and R&D departments may understand the needs of market in new product development (Eckhardt and et.al., 2019). It allows team members to make their own styles, skills and aspects to solve new projects and gives a chance to face new circumstances. The concepts of segmentation, targeting and positioning specific to a product or service STP makes easy the process of marketing and everyone may understand and may apply in their business. Their primary goal is not only to attract customer but also focus on that which customer is interested in purchasing of products. After that they prepare product according to their needs Segmentation-This main role is to define business divides its customers or demographic into small group which are based on some characteristics like age, personality attributes or behaviour etc. This category may be used after to tailor goods and promoting for various customers (Saura, 2021). This segmentation of marketing divided market into different sections that focus on consumers’ needs and wants. There are some types such as demographic, geographic and behavioural.They provide some services according to their comfort any customer belongs to different region the company give them their located place. Targeting- Under this method company must identify potential customer which may buy goods are liked by them. Marketers may not sale products to those consumers who are not interested to purchase any commodities. Their target set towards their goals that how much commodities they have to sell. For example, every company like Hilton, understand the target people well and satisfy needs and demands of target market. Positioning-It assists organisations to set perceptions of products in minds of target consumers. The marketers have to face first impression of commodities in minds of customers through positioning. It’s simply mean that where company's products stand in market, means how their items seem to be different from others and always want to make better. They make
them understand to them that how their goods are far better than others so that they may attract them. Considering innovation in product or service design in meeting needs of customers in line with chosen organisations Product name– An advanced locker provided to customers in suitcase is launched by Hilton company in which they provide various facilities like they don't face any hurdle related to theft or loss of bags. Because company gives an advanced technology so there is very less chance to lost any bag. It’s a detective tool insert in this product which detect very fast any mishappening conduct with item. Along with it they are providing locker in which they may their items in handbag and also company provides many facilities. So the customer may attract these facilities and build trust on organisation. The name of product plays an important role in any company to show their effectiveness because it may help in increasing the profits (Dash, Kiefer and Paul, 2021). Exploring service excellence and assess how organisations use a number of techniques to enhance their relationship and communication process to generate purchases to enhance sales. The company should use some techniques to retain their services CustomerRelationshipManagement-Itreferstotechnologyforsupportingand managing customer relationships. It aids to companies build and maintain consumer’s relations across entire lifecycle of customer. 1.CRM helps retain customers- this technique may help in customer retention by making and managing quality relationship with them so that they may continue their relation with marketer (Berger and et.al., 2020). And by keeping data online and examine it, marketers are capable to retain their consumers by knowing about them. 2.Personalize marketing emails with CRM contact fields-This is the most common technique which is used by marketers to connect with customers so that they may build relationship with them. They send email to tell about current updates related to hotels services and consumers may always connect with them. 3.Create automated alerts-Under this technique a company give alert to customers about the newlyservices so that customers always be update regarding products and services. It shows that how any company redeem their relationship with any consumers because it very necessary to maintain it.
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4.It provides genuine customer insightsThis technique helps to learn about customer and should have a real insight that who they are in the form of people (Vassileva, 2017). This aids in improving the performance of company and growth which reflects overall area of the organisation 5.Improved customer engagement-In this the company focus on overall customer engagement may be improved. It assists marketing strategy so that people may share business with friends and co- workers. They adopt different strategies so that customer engagement may be increased. CONCLUSION The report has concluded the information about marketing in which marketers keep focus on advertising, selling and delivering their products to consumers or through other process. After that the study has been summarized about the Hilton hotel provides services in which the customers take various services which are they want to take. In this study it has depicted regarding key marketing principles and how these are applied by chosen company. It has also included the introduction of marketing mix in which it has been show 7ps' which helps to organisation in promoting strategies. Also show importance of marking in strategic planning like it helps evaluate current environment or to establish marketing goals. This file has been included key functional areas and rational current marketing decisions. After that company has developed a new product like a bag to safe from various problems to customers. To develop particular approaches to reach customers the company use STP methods and develop various techniques so that they may connect with customer every time.
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