Marketing in Hospitality: Impact, Strategies, and Evaluation

Marketing in hospitality

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Concepts of marketing mix...................................................................................................1
1.2 Impact of the marketing environment on the industry..........................................................2
1.3 The relevance of customer markets in the industry..............................................................3
1.4 The rationale for developing various market segment..........................................................3
M1 Impact of the marketing environment using approach of Pest analysis...............................4
TASK 2............................................................................................................................................4
2.1 Importance of factors of the marketing mix to the hospitality sector...................................4
2.2 Assess the pricing strategies and policies in relation to the industry....................................5
M2 Methods for assess and evaluate pricing strategy.................................................................6
TASK 3............................................................................................................................................6
3.1 Evaluation of the role of promotional mix............................................................................6
3.3 Role of sales promotion and public relations........................................................................6
4.1 Relevance of market research to service industry.................................................................7
TASK 4............................................................................................................................................7
3.2 Advertising campaign for a service industry........................................................................7
4.2 Market research for an appropriate product and service.......................................................7
4.3 Different media for marketing product and service.............................................................8
4.4 Implementation the marketing plan for an appropriate product and service.........................8
CONCLUSION................................................................................................................................9

INTRODUCTION
In a competitive business environment, organisation requires adopting such strategy and
practice that aid to company in sustain long time in the market. Marketing is one of the
impressive strategies that help company in promoting and advertising products and services in
the market. It aids to company in introducing its services in front of customers and attract them
in large manner. The current report provides detailed knowledge and understanding about the
impact of marketing environment on the hospitality sector and components of marketing mix that
helps business.
TASK 1
1.1 Concepts of marketing mix
Marketing concepts defines that how company should understand and meet requirement of
customer regarding product and services. As per this concept, marketing have a main aim is to
identify actual needs and wants of customers regarding products and services. It assists to make
them satisfy and happy.
Thomas Cook is one of the larger travel and tourism corporations whose main aim is to
improve sales and profitability by delivering effective services and products in the market (Scott,
2015).
For addressing this objective, company have to focus on various marketing concepts to
enhance its sales and perform marketing activities in more effective manner.
Following are major five concepts of marketing that helps Thomas Cook-
 Product concept- On the basis of product concept, customers are more like to purchase
more quality and innovative product and services from organisation. Thus, it is very
important for company to produce such innovative and quality product and services that
meet requirements of customer and distinguish from its rivals in the market (Aulton and
Taylor, 2017).
 Selling concept- On the basis of this concept, buyers always prefer to purchase products
and services that corporation aggressively promote and advertise in the market. Thomas
Cook should adopt effective advertisement strategy and practices that help business unit
in attracting large numbers of customers.
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 Marketing concept- On the basis of this concept, the main aim of marketing is to
understand actual needs and wants of customers and make them satisfy. It assists in
developing a strong brand image in the market and attracts large numbers of customers.
 Social marketing concept- As per this concept, company have to maintain long and
healthy relationship with customers. With help of this concept, Thomas Cook can
maintain effective image of business in the market.
1.2 Impact of marketing environment on industry
For every business unit, it is very important to analyse and assess marketing environment
which refers to components that directly and indirectly influence business activities and
functions in large manner. In the context of Thomas Cook, there are various elements of
marketing environment that can affect its performance in the market.
Micro Environment
Customers- Buyers are major element of micro marketing environment that helps to business
unit in increasing profitability and productivity. It is very important for corporation to understand
actual needs and wants of customer regarding hospitality services like accommodation, travel
and tourism etc.
Competitors- In the hospitality sector, there are various organisations which serves same
products and services in the market. Thomas Cook can largely affect these factors as if company
changes its prices of product and services then customer can switch brand.
Suppliers- It is very important for corporation to maintain healthy relationship with suppliers as
they are those people who supplies raw material and semi finished goods to company. Company
have to provide correct information regarding the business and make payment on time for
maintaining healthy relationship with them (Babin and Zikmund, 2015).
Marco Environment
Political factor- This element includes legislation, rules, regulations, code of conduct, practices
and policies that developed by the government. Hospitality organisation must focus on this
component at the time of operating its business.
Economical factor- This factor includes inflation, recession, interest rate and other economic
condition. These all components largely affect business condition and performance. Company
have to develop pricing strategy according to the economic conditions of country.
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