Consumer Behaviour and Marketing Strategies: Landmark London Report

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AI Summary
This report provides a comprehensive analysis of consumer behavior within the context of Landmark London, a luxury hotel in the tourism industry. It begins with an executive summary highlighting the importance of consumer decision-making and the role of marketing in influencing consumer choices. The report then delves into the evaluation of the five-stage consumer behavior model by Engel, Blackwell, and Kollat, illustrating its relevance to the tourism sector. It critically assesses the application and usefulness of marketing managers in launching new products and services, particularly focusing on SEO strategies. The implications of the consumer behavior model are explored in relation to Landmark London's services, followed by an evaluation of the company's marketing strategies. The report examines various marketing strategies, including understanding customer needs, website optimization, content creation, and email marketing. Finally, the report offers insights into marketing channels and concludes with a summary of the key findings and their implications for the business. The report is a valuable resource for students on Desklib.
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CONSUMER
BEHAVIOUR
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Executive Summary
Consumers are most important people of company as they are only how make purchase
of products and services in order to satisfied their needs which yield in increasing sales volume.
Trends and several changes in external environment affects customer's decision so marketing
manager play as significance role in influencing them to be part of organization. Thus, the report
has covered information related to evaluation of consumer decision-making and the way
marketing campaign lead in attracting and retaining them in the firm.
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1) Evaluation of 5 stage of consumer behaviour model..............................................................3
2) Critical application and evaluation of usefulness of marketing manager in context of new
products and services...................................................................................................................4
3) Implication of consumer behaviours model in context of product and services related to
tourism industry...........................................................................................................................5
4) Evaluation of implementation marketing strategies of company............................................6
5) Marketing strategy...................................................................................................................8
6) Marketing channel .................................................................................................................9
CONCLUSION..............................................................................................................................10
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INTRODUCTION
Consumer behaviour is study of the way group of individuals or customers react while
selecting, buying, particular products and services so that their respective wants can be fulfilled.
They are most crucial individuals of company as they are the one that make purchase of products
and services that contribute firm in enjoy revenue and profitability. Marketing campaign of
company helps in generating awareness among people about its services so that they can take
right decision. Tourism and hospitality is the fastest growing industry that has lead in generating
of lot many employment opportunities as well as revenue thereby making better lifestyles of
people. Landmark London is five – star hotel on northern side of central London, England that
focused on providing better services to customers so that their wants can be satisfied and
company can attained its objectives. So, This report has make use of Landmark London in order
to evaluate consumer buying behaviour with relevance to tourism industry. It has critically
evaluation 5 stages consumer behaviours model by Engel, Blackwell and Kollat (1968) in order
to understand consumer buying behaviours in context of marketing campaign.
MAIN BODY
1) Evaluation of 5 stage of consumer behaviour model
Consumers is an individual that make purchase of products or services of company to
satisfied its personal requirements. While consumer behaviours is thinking that individuals have
while selecting specific products and services. Moreover, consumer spend lot of time, efforts in
order to get better products that can helps in satisfying their wants beyond their expectancy.
Engel, Blackwell and Kollat has developed five steps model that explained about the way
consumer take particular decision while making purchasing (Xhema, 2019). Such as:
Problem recognition: The first and foremost steps that helps consumer in taking right decision
is that they face particular problem or issue or have a need which needs to be fulfilled. Thereby
individuals are looking for alternative options that could be used to resolve their issue or satisfied
their needs in better manner. So, companies tries to understand their needs or key problem in
order to find numerous method that could be used in order to meet their expectancy.
Information search: This is second stage of consumer decision process in which individual put
their efforts to gathered necessary information related to various sources available that can
contribute in meeting its needs. Features, price and ease of use are some of the information that
consumer search while taking any decision related to making purchase of services for fulfilment
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of its desired (Salem, 2019). Therefore, this is an stage at which it tries to fin information from
different sources about the company that are offering products or services so that they can be
happy and satisfied.
Alternative Evaluation: The third steps that is performed by consumer in case of making
decision is evaluation of alternative options available with an aim to get maximum value at
minimum price. Different individual has different needs and requirements, so they make list of
criteria that could be helpful in meeting their wants. Moreover, there are numerous companies
that are offering wide range of products as well as services to customers thereby they have more
choice to select among.
Purchase: After evaluation of alternative options available customers take right decision to
make purchase of products or services. Thus, it is fourth stage in which consumer finally make
its mind to have products or services of specific organization. Numerous organization put various
efforts like innovative marketing strategies in order to influence customers to be part of them
rather than other company (Hindley and Font, 2017). So, it is stage at which finally the people is
converted into customer of organisation that yield in enhancing overall profitability and sales
volume of company.
Post purchase evaluation: It is the last stage in which customers had products or services of
company so on the basis of services given by company it further takes decision to have its
services only or not. So, they think about what they have actual feel while have its services or it
has given maximum value or not for the money that they have spent. Organization by focusing
on providing after sales services to customers is able to retained its brand image in minds and
hearts of customers.
So, from the above model it can be evaluated that consumer decision-making is a long
process that is undertaken by individual in order to have valuable products or services.
Individuals through following all the procedure and policies are able to purchase right decision
and select organisation.
2) Critical application and evaluation of usefulness of marketing manager in context of new
products and services
Marketing manager is responsible for designing appropriate strategies that could be used
to influences customers to have products and services so that company can enjoy maximum sales
volume and profitability. Such as Landmark London marketing manager has tried to understand
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the changing customer behaviour in order to decided specific strategies that can helps in meeting
people requirements. SEO is the recent marketing campaign that has been used by company in
order to attract more customer in the organisation. Company has focused on enhancing its online
visibility so that people can be informed and take right decision to fulfil their needs.
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Moreover, it can be evaluated that marketing manager has focused on providing
qualitative services to customers such as quick room booking, access to free wifi facilities and
other services. The manager has conducted market research in order to gather useful information
about existing needs and preferences of people thereby deciding right strategies that can yield
maximum profitability to firm (Zitkiene, Markeviciute and Mickeviciene, 2017).
Therefore, it can be stated that marketing manager of company is useful in launch of new
services by company as it by understanding needs of people, find alternative method to promote
the same. It has make use of digital technology to inform customers about company and its
products thus customers are able to take quick decision for purchase for specific organization
(Wood, 2017). Moreover, it has ensured that right message is transferred to right individual in
limited time so that it can take correct decision to purchase products for satisfaction of its wants.
Thus, it has resulted in generating awareness among maximum number of individual and
enhancing overall profitability of company. Therefore, SEO marketing campaign has lead in
increasing 50% in keyword ranking, 138% in organic traffic and 28% in online transaction
thereby leading more profitability and sales volume to company. So, overall the marketing
manager has contributed in promoting the company to maximum extend by focusing on SEO
campaign (About the Landmark London, 2019).
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3) Implication of consumer behaviours model in context of product and services related to
tourism industry
It can be stated that the Engel, Blackwell and Kollat (1968) is still related to consumer
buying behaviours in today market also as people make use of 5 stages while taking any
particular decision to purchase products or services. Likewise, Landmark London has make use
of marketing campaign in order to generate awareness among people so that it can enjoy higher
sales volume and profitability in long run (CONSUMER, 2019). So the way 5 stages of
consumer behaviours model is still relevant to buying behaviours can be explained as follows:
Problem or needs recognition: It can be stated that recently mots of the people are facing
challenges of delay in booking of rooms to stay and enjoyed their holidays. They need to spend
lot of time in waiting room to get space to stay. Thus marketing manager of Landmark London
by identifying the key issue faced by people have decided to provide online booking services. So
that they can easily make booking as per their ease and conveniences at any place and any time.
Therefore, it can be stated that company by providing online services is able to enhance
customer’s satisfaction level and profitability of firm top large extend.
Information search: It is second stages in which customer’s search for alternative options that
could be used to satisfied its unwanted needs and requirements in the best possible manner.
Therefore, the manager of Landmark London has provided all crucial detailed of hotels and its
services to customer’s on its official websites so that they can take right decision. Moreover, it
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has provide feedback or comments of previous experienced of customer’s on official websites so
that customer’s can know better about the organisation (Kapur, 2020). Thus, providing all
detailed information about the organisation on social sites has contributed in generating
awareness and making customers happy and satisfied.
Evaluation of alternative: It is third stages that is performed by customer’s now a days by
making use of online platform to evaluate what are services that are offered by other organisation
and at which prices. People gathered information from several sites about various organisation
operating in hospitality industry thus take right decision to have services of specific company.
Likewise, Landmark London by giving detailed related to its facilities, services and prices helped
customer’s in comparing and getting the right products chosen for fulfilment of their
requirements.
Purchase: After evaluation of alternative available, final customer’s take decision to make
purchase of services from particular organization. So, in context of landmark better services and
qualitative experienced of customer’s and 5 star rating as luxury hotel has motivated people to
come and enjoy their leisure time (Tunkkari, 2017). Company through making use of digital
platform has provided quick and qualitative services to range of people thereby increase its
profitability.
Post purchase behaviour: It is last stages of consumer decision-making in which customer’s
has already had products or services of Landmark London. Therefore, marketing manager has
taken feedback or encourage guest to share their respective experience so that they can know
about the areas that need to be improved for better outcome. So, on the basis of review of people
manager has tried to make necessary changes in the operations thereby company can build and
retained strong brand image.
So, it can be stated from the above model that recently also consumer perform all the 5
stages while selecting or having any products and services to fulfil their needs. Marketing
campaign of Landmark London that is used of digital technology has contributed in understand
that all these are major steps that drive customer’s within organization (KHADWAL and NET,
2019).
4) Evaluation of implementation marketing strategies of company
Marketing strategies refers to set of actions that are undertaken by manager of company
in order to promote products and services to wide range of customer’s. Landmark London has
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make use of different strategies such as understand customer’s wants, optimization of website,
make better content and use of email marketing to generate awareness of company. So
evaluation of implementation of marketing strategies that are used by Landmark London to grow
and expand its business can be illustrated as follows:
Understanding of customer’s wants: The first and foremost marketing strategies that is used by
company is understanding needs and wants of customer’s so that they can easily satisfied.
Landmark London has make use of digital technology to understand existing wants of people
thereby find alternative method about the way they can be fulfilled (Ateke and Akekue-Alex,
2017).
PRONS CONS
The prons of this strategy is that company is
able to effectively understand customer’s
preference and satisfied them beyond their
expectancy level.
On the other hand, cons of this strategy is that
it resulted in wastage of lot of time, efforts and
cost of company to gathered information about
customer’s wants.
Use of social media platform: Another marketing strategies that has been implemented by
Landmark London to promote its company to maximum number of individuals to enjoy higher
profit. Company have make the best use of several social media platform such as Facebook,
twitter and instragram to inform tourist about the company and its services that has helped in
growth of organisation.
PRONS CONS
The benefits of social media marketing is that
it helps in attracting wide range of customer’s
in minimum cost as well as time.
On the other hand, risk of negative public
image as there may be chances that company
has put unnecessary information on the
platform.
Email marketing: Moreover, Landmark London marketing manager has make use of email
marketing in order to promote company and its brand image among maximum number of
individual. This is one of the best marketing strategies as it contribute company in building
strong relationship with customer’s by information about company promotion offers and other
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necessary detailed. Therefore, it can be stated that Landmark London by making use of email
marketing is able to promote its operations on wide scale (Unni, 2020).
PRONS CONS
The prons of email marketing is that it
contribute in building personalized
contact with customer’s. They can
easily know about the company thereby
it leads in building strong trust with
people and enhancing market share.
On the other hand, Most of the people does not
even open their email.
Moreover, it can be stated that constant and
consistence updatation is required in order to
make customer’s aware about the existing
strategies of company.
5) Marketing strategy
Marketing strategy refers to actions that are undertaken by marketing manager in order to
reach prospective consumers and earn maximum revenue. Landmark London marketing manager
in its strategy has make use of segmentation, targeting and positioning in order to decide
particular strategy that could be used by company to retained and attract customer’s in the firm.
Segmentation is a process of classifying people into different category on basis of several factors
with an motive to design specific strategies that could result in better outcome. Moreover, it can
be stated that segmentation method used by Landmark London are demographical, behavioural,
psychological and geographical (Putrawan, 2020). Such as: Demographical Segmentation it is
one the most common method that has been used by manager to segment people such as it has
classified them on basis of age, gender, occupation, Income, race and education level. and
Landmark Manager in order to classified people on demographical segmentation observe on
people based- difference thereby segregated on basis of their age, income or gender basis.
Behavioural segmentation Marketing manager also segment people on basis of consumer
behaviour thereby form strategies that could be used to attract specific number of individual in
the organization. Landmark Manager by understanding that most of the younger generation like
to have online shopping or online booking of room. So, company by making use of behavioural
segmentation is able to attract maximum number of respondent.
Geographic segmentation is another marketing strategies that is used by Landmark
Manager in order to classified people or customer’s of company. Such as it has segment people
on the basis of place at they live so that they are motivated to come and enjoy in the restaurants.
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So, customer’s location helps in better understanding of needs and preparation of location
advertisement thereby company is able to influence people from across worldwide.
Psychological segmentation include classification of individuals on basis of traits, belief, interest,
value and attitude and lifestyles (Sroka, 2020). Marketing manager of Landmark by classifying
people on basis of their interest and lifestyles is able to set targeted people that have more
interest to enjoy their vacation by going top trip. So, understanding of needs, interest, lifestyles
and attitude has helped company in setting prices as well as providing facilities to them that has
contributed in achievement of end goals.
So, from the above understanding it can be stated that company has make best use of
demographical segmentation that has both prons and cons which can be illustrated as follows:
Prons
The most benefits of making use of demographical segmentation is that it can be
obtained easily and at low cost. Landmark London manager can easily get
demographical information of customers through different sources and take right
decision to motivate them.
Moreover, it contributes in straightforward targeting and analysis of data and
information related to customer’s that are living in society.
Cons
Another disadvantage of demographical segmentation is that too vague or confusion thus
manager is not able to effectively segment people on numerous basis.
These data as well as information can be easily changed at any point of time by
individuals which may create barrier in effective segmentation of people.
6) Marketing channel
Marketing channels is system that specified about the way information will be distributed
to people so that they can be informed about products and services of company. There are
different channels that has been used by Landmark marketing manager in order to connect with
end customer’s. Offline and online are two marketing channels that has been used by
organisation to market its services to wide range of customer’s so that maximum sales volume
and profitability can be enjoyed by company. So, the channel that has been selected by company
to promote its brand image can be explained as follows:
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