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Marketing Hospitality Assignment - Thomas Cook

Added on - 08 Dec 2020

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TABLE OF CONTENTINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Marketing concepts of services industry...............................................................................11.2 Impact of Marketing Environment on business (THOMAS COOK)....................................21.3 relevance of customer markets in the industry......................................................................21.4 different market segments......................................................................................................3TASK 2............................................................................................................................................32.1 Assessment the importance of marketing mix in the hospitality industry.............................32.2 Analysis ofpricing strategies and policies in relation to the Thomas Cook.....................................4TASK3............................................................................................................................................4AC 3.1 Role of promotional mix.................................................................................................4AC 3.3 Analysis the types of sales promotion and public relations............................................5TASK 4............................................................................................................................................5AC 4.1 Relevance of market research.........................................................................................5AC 3.2 Plan advertising campaign..............................................................................................6AC 4.2 Undertaking market research for an appropriate product or service...............................6AC 4.3 Analyse the suitability of different media for marketing an appropriate product orservice..........................................................................................................................................7AC 4.4 Evaluate the implementation of the marketing plan for an appropriate product orservice..........................................................................................................................................7REFEENCES...................................................................................................................................9
INTRODUCTIONMarketing in hospitality would be including all important so that they are been able tomeet all targets of company. Marketing would be playing very crucial role in all sectors ofeconomy as without this business is not able to indulge themselves in competition with otherrivals into marketplace. In this assignment which is based on Thomas Cook Company would beincluding various concept of service industry, impact of marketing in business of company andwhat the relevance of customer market in service industry. Then it would including variousrational for the development of different market segments with the introduction of promotionalmix. Plan for advertising campaign would be included for the service industry operations andthen what is the preferred media for promotional activity of company.TASK 11.1 Marketing concepts of services industryMarketing concepts is a theory that bound to the company that it It is use for makestrategic business planning, research reports, marketing planning and for product development.Inmarketing concepts, there are five major concepts and by implementing them, an organisationcan satisfy their customers’ needs, increase sales, beat the competition and make maximumprofit (Ozturen, Gursoy and Kilic, 2017). These five marketing concepts that must be executedand adopted by every organisation are as follows:-Production Concepts –this concept determines that a firm should be producing those productswhich are widely available and inexpensive. It also states that consumers will favour productsthat are available and highly affordable.Product Concepts –in this concept, product quality and improvement are important parts formaking marketing strategies.Selling Concepts –it refers that an organisation must apply an aggressive selling and promotioneffort. Thisconcept purely focuses on making an actual sale of products.Marketing Conceptsthis concept says that an organisation must be able to understand theircustomer's needs for providing better satisfaction to them (Martin, Rosenbaum and Ham, 2015).It is use for make strategic business planning, research reports, marketing planning and forproduct development.Social Marketing Concepts –it determines as that an organisation must have information abouttarget market and it demonstrates the social dimension of that company.1
1.2 Impact of Marketing Environment on business (THOMAS COOK)For the analysis the impacts of marketing environment on business use PESTLE analysis.It is use for make strategic business planning, research reports, marketing planning and forproduct development.This analysis describes the impact of marketing environment as follows:-Political Factors –it states the policies, pressures and opportunities implied by political entities.It includes political stability, government policies, foreign trade policy, tax policy, labour lawetc.Economic Factors–in this factor, it includes inflation rates, economic growth, interest rates,exchange rates, disposal income etc. which are divided into two major economic factors that aremicro and macro.Social Factors–it covers society and population. It includes population growth, healthconsciousness, career attitudes, age distribution (Kim and Law, 2015).Technological Factors –technological factors affect marketing and its management. It coversautomation, research, development, and technological awareness that a market possesses.Legal Factors –many laws and regulations can affect the business environment in a nation. Inthis context, these factors include health and safety, advertising standards, consumer rights andlaws and product safety.Environmental Factors –it includes all factors related to environment which can affect thesustainable growth of an organisation. These factors are important because there are many issuesregarding business environment that are unavailability of raw material, pollution, increasinglevel of carbon etc.1.3 relevance of customer markets in the industrySuccess of any business is fully depended on the customer satisfaction. THOMASCOOK, a big brand in tour and travel industry also learns and grows because it satisfies itscustomers in high level. Customer buying behaviour is an essential thing which can affected bymany factors (Randhawa and Perdue, 2016). This company is conducting an analysis and knowabout its customer buying behaviour for increased profitability and market share. For thisanalysis, there are implications of various components and makes strategies. Relevance ofcustomer is very important thing for this organisation because its services and profitability is2
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