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The Marketing Environment Doc

   

Added on  2020-12-09

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MARKETING IN HOSPITALITY 01
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................31.1 Discussing the concept of marketing for a relevant services industry..................................31.2 The impact of the marketing environment on the industry...................................................41.3 The relevance of consumer markets in the industry..............................................................41.4 The rationale for developing different market segments......................................................52.1 The importance of components of the marketing mix to the industry..................................52.2 Pricing strategies and policies in relation to the industry.....................................................64.4 The implementation of the marketing plan for an appropriate product or service................8CONCLUSION ..............................................................................................................................9REFERENCES .............................................................................................................................1002
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Illustration IndexIllustration 1: Demand and supply curve.........................................................................................903
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INTRODUCTIONMarketing leads to play an important role with respect to accomplishing success. Similarto this, marketing also helps in playing a significant role to drive hospitality industry. There arevarious concepts of marketing in hospitality industry sectors. Furthermore, this report defines therole of marketing mix which considers all 4p's as price, place, promotion and product. Marketing plan is essential in-service sector because it provides information regardingputting efforts by company in the market. To implement these plans are the complex part whichconsider various phases as define objectives, then target the customers and markets ormonitoring (Walker and Walker, 2016). Pricing strategies also plays a crucial role in business.Hotel Hilton is using demand-oriented pricing strategy and competitive pricing strategy. Inaddition to this, there are more various strategies which are also beneficial for service industriesto determine the price of products and services. 1.1 Concept of marketing for relevant services industryMarketing is known as the set of protocol which helps in building a relationship withcustomers, communication and delivering value to customers in such a way which can benefitthe firm and its stakeholders. Marketing in hospitality is different as it has to deal with differenttangibles object such as bed, service, food and ambience. With respect to use of tools of marketing in an effective manner, the profitability of thefirm and requirement of customers should be integrated. Hilton hotel is focusing on fulfillingneeds and wants of their customers. In regard to this they can easily enhance revenue of the firm.When company consider the needs of customers then it should focus in enhancing income of thefirm (Jauhari and Bharwani, 2017). Hence, it can be said that integrated marketing is known ascombined effort of all personnel within the firm. Before, focusing on marketing concept it is essential for the firm to analyse the persistingmarketing culture in the market and focus in unique concept of integrated marketing. Hiltonhotel uses the integrated marketing concept for carrying out their marketing campaign. It clearlydepicts that the firm aims to generate high revenue through placing its guest needs on the toppriority and accomplish significant growth in respect of income through the use of this concept. Success of any company is also depended on service-oriented attitude of all their04
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