Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1...........................................................................................................................................1 1.1 Concept of Marketing..........................................................................................................1 1.2 Impact of Marketing Environment.......................................................................................1 1.3 Relevance of Consumer Markets.........................................................................................3 1.4 Developing different Market Segments................................................................................3 TASK 2...........................................................................................................................................4 2.1 Importance of the components of Marketing Mix................................................................4 2.2 Pricing strategies and policies..............................................................................................5 TASK 3...........................................................................................................................................6 3.1 Role of the Promotional Mix................................................................................................6 3.3 Role of Sales promotion and public relation........................................................................6 4.1 Relevance of Market Research.............................................................................................8 TASK 4..........................................................................................................................................8 3.2 Plan an Advertising Campaign.............................................................................................8 4.2 Undertake the market research..............................................................................................9 4.3 Different Media for Marketing...........................................................................................10 4.4 Implementation of Marketing Plan.....................................................................................10 CONCLUSIONS.............................................................................................................................1 REFERENCES................................................................................................................................2 Online.........................................................................................................................................3
INTRODUCTION Marketing is the management process and activity of selling,buying of goods and services.Itistoidentificationproducts,determinetheprices,selectiontheplaceand implementation the promotions strategies. Marketing in hospitality is the important for selection the segment such as hotels, restaurants, resorts and utilized the marketing promotes their products or services. Thomas Cook is the one of largest travel groups in world that is second largest in the UK. In this report, it will discussing the concept of marketing, impact of marketing environment, evaluate the relevance of consumer markets and importance of marketing mix using by Thomas Cook (Baloglu, 2016). TASK 1 1.1 Concept of Marketing Marketing is the concept of buying and selling of goods and services for the customers. Thomas Cook is the group who is to providing travels services for completion of customer needs and wants. Marketing is to defined through some concepts: Production Concept:It is the concept of issues which are related to manufacturing and production of goods and services. It is to defining the marketing concept. It is concept for availability of goods and services which is fulfilment of customers’ needs and wants. Product Concept:It is the concept including quality, performance and innovative features in goods and services. Customers wants to better quality and quantity of product. Thomas Cook is the travel company that is providing better services according to customer’s needs and wants (Bowie and et.al., 2016). Selling Concept:The concept of selling is to define the demand and supply of goods and services. So that the company has to producing and selling goods and services according to demand and supply in the market. Marketing Concept:In this concept including production, products and selling concepts. It is to defining the identification of products, determination of prices and selection of place and implementation of promotion strategies (Bhasin H., 2017). 1.2 Impact of Marketing Environment In the marketing environment includes two factors one of micro component and second of macro component. 1
MICRO FACTORSEXPLANATION CustomersIn the micro factors,includes customers’ needs and wants which are impacting on the marketing. The company is to providing services according to customers’ needs and wants. CompetitorsThis factor is also impact on the marketing. The level of competition is to impact on selling and buying of goods and services in the market. EmployeesIn the company, employees are helping in the production and selling of goods and services to the customers. Thomas Cook is the company who hastoprovidingbetterservicesandtheir employeesarehelpingof them.Sothatitis positive impact on the marketing of travels and tourism business (Dixit, 2016). MACRO FACTORSEXPLAINANTION Political ElementsIn this elementswhich are including government policies,rulesandregulationsrelatedtothe marketing,itisimpactonthemarketing environment. Economic ElementsIn this elements which are including consumers buying behaviour, power, economic resources and level of income, it is impact on the marketing of goods and services providing by Thomas Cook. Social ElementsIt means social trends, customer’s needs, wants, desires,tasteandlifestylesareimpactof providinggoodsandservices(auhari,and Bharwani, 2017). Technological ElementsRecent technology adopted by the company, so 2
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that it is impact on marketing. 1.3 Relevance of Consumer Markets 0 The importance of consumer market is based on the consumers buying behavior and power, needs and wants. In the markets, goods and services are introducing according to customers demand, taste, preferences and their behavior, so that it is helping for the company is to more earning profits. Thomas Cook is the travels company who has to providing travels and tourism services for fulfillment of customers’ needs and wants during the travel and tour. Consumer's buying decision is to disadvantages of the company. In the market, new products are entering, so that it is changing the customer's decision (Kandampully, Zhang, and Bilgihan, 2015.). 3 Relevance of Consumers Market The consumers is the important in the hospitality business. The consumers are buying of goods or products fulfillment of their needs and Wants.Advantages of Consumers Markets It is to helping by purchasing of goods and services for earning Profits. The consumers are going directly in the Market. Buyer's Black Box Limitations of Consumer Market The consumer's different behavior, Taste, attitude, needs and Wants, it is disadvantage of market.
1.4 Developing different Market Segments Market segments focus on target customers by providing goods and services. In the market, there are many customers and they are having different behaviour, attitude, needs and wants, so that, it is too difficult for making decision of company. There are different segment in the market. Demographics:It includes genders, age, income, lifestyles and occupations. So that the company is to selling the products and services according these segment. Thomas Cook is to offering services according to age, gender and incomes. Geographic:Company is to providing services on different locations. Peoples are belonging on different locations so that it is important segment of marketers for completing different requirement of peoples (Minazzi,2015). Behavioural:This segment includes usage, preferences, desire and choice. It is also includes knowledge of products and services of the customers. So that the company is to offering services according to customers choices and desires. Psychographic:This segment divided on the basis of personality, lifestyles and attitude. Personality means habits, characteristics and attitudes. Therefore company has to decided that how selling of goods and services according to customers lifestyles. Thomas Cook is the travel company who has to provide travel and tour services according to the customers lifestyles. TASK 2 2.1 Importance of the components of Marketing Mix ProductsPricePlacePromotion Theyare providing various products such asholiday packages, beaches, hotelsand other Theyare providing serviceson the reasonable pricefor generating revenues (Rogersand Davidson, Thomas Cook is to providing tour and travel servicesin different destinations. Thomas Cook has to divided divisionfor Theyare promoting theirproduct andservices onsocial media. Theyare promotingon awardsand 4
products. Thomas Cook isalso providing insurance, flightsand students travels. 2015). Thomas Cook is to adopting premium pricing policy inpricing strategy. Theyare offering servicesat affordable prices. Theyare offeringthe discounton travel and tour booking. operationin different distinct. eventsrelated to sports. They are also promoting theirproducts onnewspaper and magazines. Theyare planningan innovative campaign with the help of print media and electronic media (Rogers and Davidson, 2015). 2.2 Pricing strategies and policies Thomas Cook is to providing services on the reasonable and affordable prices. They are providing premium policy on their products and services. Premium Price Policy:Thomas Cook is to adopting the premium policy of their products. It means the company is setting the costs greater than their competitors. This strategy is to most effective of products life cycle. The company has to created a values percept with the high quality products of ensuring for marketing efforts, it is combine to support premium price. Price Skimming :It means the company has to increased the sales by the new products and services. In the products life cycle, during introduction phase, setting high rates. It is helping 5
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to maximization of profits. It is to creates an appearance of quality when products introduces on first in the market (Tresidder, 2015). Penetration Strategies:In this strategy, the company has to attracting the customers by offering lower prices of products and services. It is to reflecting the state of their position within the market when companies are wind up raising pricing. Economy Pricing :It includes foods suppliers and discount retailers. This strategy aims to attracting the customers who has the price intended (Tresidder, 2015). TASK 3 3.1 Role of the Promotional Mix Promotion is the function of marketing which is used to promote the products and services in the market. The role of promotion mix is to identifying the products and services to the customers. The function of promotion is to public relation, personal selling, sales promotion, advertising, sponsorship and direct marketing. Public Relation :The company is to promoting in general public.Public relation includes publicity. Public comprises customers, suppliers, distribution, shareholders, government and society. Sales Promotion:It includes discount, coupons, pay back offers on the festivals and off season by the hospitality business. So that Thomas Cook is to adopting sales promotion for selling the products and services. Advertising:Thomas Cook is the travel company who has to provide the travels and tour services. The traveller are taking the services from different locations, cities and countries. For the increasing the sales, they are adopting advertising in the form of print media as well as electronic media for customers attraction (Welsh and et.al., 2014). Sponsorship:The company is sponsoring various events, awards, games and sports. By sponsorship, company is to promoting their products and services. Thomas Cook is to providing services to customer, it is largest group of travel and tour in UK, so that they are adopting this promotion strategies for increasing sales and customers attraction. 3.3 Role of Sales promotion and public relation (A) Sales promotion:It is the part of promotion mix which includes coupons, gifting, refunds, pay back and discount. 6
Discount:Thomas Cook is the company who is to providing travels services on discount in the festivals and off seasons. The company is to decided a particular rate of discount for the festivals and events. There are two types of discount that is consumers discount and trade discount. Gifting :The company is to providing services and also giving the gifts for the customers . It is the most popular ways to selling of goods and services. It is to helping the increasing sales of the products. In the festivals, they are promoting their products and services. Coupons:In the travel and tourism sectors, they are offering the services with the free coupons for the children. But some times, they are giving the free coupons of young peoples or travellers in the festivals. Through this, consumers are attracting for buying their products and services (Leung, Xue and Bai, 2015). Pay Back:By online booking of travels and tour services, company has to decided the particular amount, which is paying back to the customers. Online:It is the main components in all the destination of travels and tourism. Thomas Cook is to promoting their products and services online for increasing sales and customer attractions. (B) Public Relation : It is the tool of promotion which is using by the hospitality industry. Public relation means that publicity of products and services. Public relation is the necessary for travels and tourism sectors. Through communicating with peoples, company are developing the public relation. There are different types using by company for public relation. Social Media:It is the most popular way to build up the public relation with the company. Because today's world, social media is spreading, every one using the social media for travels and tourism booking. So that Thomas Cook is main focusing on the social media for public relation. Sponsorship:Thomas Cook is to build up their relation with public, so that they are sponsoring many events like awards, games and sports. Through this, they are increasing their sales and generating revenues (auhari, and Bharwani, 2017). Advertising:It includes print media and electronic media for advertising. It is the important for public relation and increasing sales of products and services by using the hospitality companies. 7
Press Conferences:The tour and travels companies are using for public relation of press conferences. It is the special announcement of the new products in the company. It is the benefits for the company to build up the relation with public and increasing the sales. Product launch:This is the best way to developing the public relation. In this, celebrities , partners and investors and other peoples. 4.1 Relevance of Market Research Marketing research is the systematic way of analysing, identifying the information related to industry. It is the process to generating, evaluating and defining of marketing information is the beneficial for the industry. Thomas Cook is the company who has to provide the travels and tourism services to the customers, so that they are adopting marketing research of identifying the competitorsand targetingcustomers.It isrequired on the continuousbasis (Rogers and Davidson, 2015). Identification of problems :Marketing research is the to helping of identify the problems and opportunities for new and existing products. It includes level of customers satisfaction, sales performance and information of market share. Formulating Marketing Strategies:Though marketing research, the company has to decided and formulated their strategies related to market and implementing the strategies. Determining customers needs and wants:It is helping for determining the customers needs and wants. It is to helping to collecting the information of the customers buying behaviour. TASK 4 Covered in Poster 4.2 Undertake the market research Primary Research:It is the methods of marketing research. It includes interviews, surveys, focus group and observation. It is to helping the customer needs and wants. It is giving the specific results. In this methods, we are researching of 10 peoples. Secondary Research:It is the another methods of the marketing research. It includes books,journals,articlesandinternet.Itisalsohelpingingettingandcollecting information from the business (Tresidder, 2015). 8
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QUESTIONNAIRE 1. What is age group ? >19 20-25 <25 2. What is the Gender ? Male Female 3. How much you satisfied with the plan services of the company ? Satisfied Dissatisfied Neutral 4. Does company provide services far better than its competitors ? Yes No 5.Recommend the strategies and ways to enhance customer satisfaction ? 9
4.3 Different Media for Marketing There are two types of media one of print media and another is social media. Thomas Cook is to adopting of social media for marketing of their products and services. Social Media: Because every one using social media either shopping or travels. So that the company is efforts on the social media website. It includes Facebook, twitter, Instagram and their own website for attracting the customers and fulfilment of their needs and wants. Even senior citizen are also using the social media. By this media, it is easy to booking for travels and tour in just one click. Print Media:Thomas Cook is to adopting the print media as well like newspaper, magazines etc. It is also helping for customers satisfaction (Rogers and Davidson, 2015). 4.4 Implementation of Marketing Plan ThomasCookwillbeensuringthattheirmarketingplansareimplementingand developing for customers attraction and fulfilment of their needs and wants. So that they are focusing on the social media. CONCLUSIONS From the basis of above discussion it can be concluded that, marketing in hospitality industry is the fast forward industry as compare to other industry. They provide various prime and luxurious services to their customers. It has been given various new marketing approaches and strategies to make their customers happy and satisfied. Present report based on marketing in hospitality in the context of Thomas Cook. Study has been discussed about the different concepts of marketing such as production, selling and societal. Besides, they also give small gist of micro and macro factors and their driver factors that impact on the organization activities. All over, study also explained about the different market segments that helps company to give more focus. Besides, company explained the important aspects of the business activities to enhance the customer satisfaction approach. 10
REFERENCES Books and journals Baloglu, S., 2016.Marketing for Hospitality and Tourism, Global Edition. Pearson Education Limited. Bowie, D. and et.al., 2016.Hospitality marketing. Routledge. Dixit, S. K., 2016. eWOM marketing in hospitality industry. InManaging Public Relations and Brand Image through Social Media(pp. 266-280). IGI Global. Jauhari, V. and Bharwani, S., 2017. An exploratory study of competencies required to cocreate memorable customer experiences in the hospitality industry. InHospitality Marketing and Consumer Behavior(pp. 159-185). Apple Academic Press. Kandampully, J., Zhang, T. and Bilgihan, A., 2015. Customer loyalty: a review and future directions with a special focus on the hospitality industry.International Journal of Contemporary Hospitality Management.27(3),. pp.379-414. Leung, X.Y., Xue, L. and Bai, B., 2015. Internet marketing research in hospitality and tourism: a review and journal preferences.International Journal of Contemporary Hospitality Management.27(7). pp.1556-1572. Minazzi, R., 2015.Social media marketing in tourism and hospitality(p. 87). New York: Springer. Rogers,T.andDavidson,R.,2015.Marketingdestinationsandvenuesforconferences, conventions and business events. Routledge. Soelberg, F., Lindberg, F. and Jensen, Ø., 2018. Entrepreneurial marketing in tourism and hospitality: How marketing practices do not follow linear or cyclic processes. InThe Routledge Handbook of Destination Marketing(pp. 60-70). Routledge. Tresidder, R., 2015. Experiences marketing: A cultural philosophy for contemporary hospitality marketing studies.Journal of Hospitality Marketing & Management.24(7). pp.708- 726. Welsh,D.H.,andet.al.,2014.Japanesewomenentrepreneurs:implicationsforfamily firms.Journal of Small Business Management.52(2). pp.286-305. Zaltman, G., Olson, J. and Forr, J., 2015. Toward a new marketing science for hospitality managers.Cornell Hospitality Quarterly.56(4). pp.337-344. 11
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