Applied Business Research: Successful Marketing for New Businesses

This report, titled "How does a new business successfully market?" explores the critical aspects of marketing for new businesses, particularly within the hospitality industry. Focusing on the hypothetical Star Gold Coast hotel, the report examines challenges such as intense competition and the need for effective branding. The study delves into the significance of branding, advertising, cost management, and the adoption of new marketing techniques, including social media and digital strategies. It emphasizes the importance of adapting to modern marketing practices and building relationships with other brands to gain a competitive edge. The report excludes internal factors like customer satisfaction but provides a comprehensive overview of external marketing strategies essential for new businesses to thrive in a dynamic market environment. The report also highlights the significance of cost-effective marketing strategies, especially for new businesses with limited financial resources, emphasizing the need for a balanced approach between conventional and modern marketing techniques. The report concludes by stressing the crucial role of effective and comprehensive marketing practices for the long-term success of new businesses in the competitive market.

Running head: APPLIED BUSINESS RESEARCH
Applied Business Research
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Author Note

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Table of Contents
Introduction................................................................................................................................2
Organizational Background....................................................................................................2
Problem Stated........................................................................................................................2
Importance of topic and its justification.................................................................................3
Scope of the review................................................................................................................3
Literature Review.......................................................................................................................3
Branding.................................................................................................................................3
Advertisement.........................................................................................................................4
Cost.........................................................................................................................................4
New marketing techniques.....................................................................................................5
Conventional Techniques.......................................................................................................5
Social Media and Digital........................................................................................................5
Relationship with other brands...............................................................................................6
Conclusion..................................................................................................................................6
References..................................................................................................................................7

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Research Title: How does a new business successfully market?
Introduction
Organizational Background
The organization which is selected for the study will be Star Gold Coast. This is
completely a new hotel which is not yet developed. This is a six star and 17 storey hotel. The
property should be including 50 luxury suites, a butler service for all the guests and a rooftop
bar and restaurant having an adjacent terrace for dining outside. The top floor is suspended 67
metres above the ground level should be an infinity pool which will have an extension of 5
metres beyond the side of the tower (Kietzmann et al., 2011). This tower will be offering
excellent views across the ocean. The new tower which will be developed should be
representing the existing 5 star hotel in the resort. The five star hotel which is already there
has around 598 rooms along with the new luxury swimming pool which is offering the
groups private bungalows and cabanas.
Problem Stated
It is obvious that for developing and starting a new business in any sector is a bit
difficult in this 21st century. With the high rise in competition in any filed or industry and the
rapid fluctuations in the external environment is influencing negatively for any business to be
started and competing with the existing businesses as well. The market environment is very
much complex and there are various types of challenges to be introduced and evaluated for
any new business to become successful in this tough marketing conditions. The hospitality
industry is booming in the market as there is high demand for the hotels and the restaurants to
be taken place (Kietzmann et al., 2011). For the new business to be successful in this market
the hotel organizations are not doing proper marketing efforts for the marketing of their
products and services which they will be offering to the customers. With the rise of
technology and the rapid use of internet to be taking place, 70 percent of the hotels in this
world are very much relied on the old marketing concepts and traditional marketing practices.
Due to the poor marketing efforts and the traditional marketing practices, there is always a
problem for the brand recognition as well the sales of the new hotels within the hospitality
industry. It is obvious that the capital investment and the cost structure is also a problem for
the new hotel to be able to become successful in this market conditions. The new hotel needs

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to be using conventional and modern marketing practices in order to have a hold in this
competitive market.
Importance of topic and its justification
This research is based on the identification and evaluation of the challenges to be
faced by the new business for entering and having strong position in this hospitality industry
or market. The importance of this topic is that how the new business will be successful in this
hospitality market ad what are the strategies they need to be developed in order to compete
with the existing and branded hotels operating within the hospitality sector as well
(Kietzmann et al., 2011). In this study it is came to be known about the branding and the
different techniques which the new business will be implementing in order to become
successful.
Scope of the review
This topic will be discussing about branding, social and digital media as the
techniques for the marketing for the new business. This includes how cost is an important
factor for the new business to be successful, advertisement. It should discuss on conventional
and new marketing techniques and the relationships with other brands. It excludes from
discussion the internal environment of the new hotel, customer satisfaction and ways of
influencing customer satisfaction levels (Kietzmann et al., 2011).
Literature Review
Branding
Branding is a very important and essential term to be used in business and especially
for the new business to be able to become successful in this competitive market environment.
The brand and branding are complex terms but they are somewhat different from each other.
The brand is the way the customer will be perceived. The brand is basically a promise which
the organizations make it to their customers. According to American Marketing Association
branding is the tool by which there is a commitment and loyalty to be developed among the
customers regarding the products or services which they should be using it. Branding is
nothing but a symbol or the identity for the customers to perceive the products and services
given by that specific organization only. Branding develops trust and respect for the products

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and services which the organization will be offering it to the customers. It is seen that with
the increase in the competition people in this world have lesser time to look for many options
and their selection becomes narrow (Powers et al., 2012). There are rise of infinite choices for
the customers to be taken place and this makes them not be connected emotionally and
loyalty gets disrupted for them as well. The new business should need to have constant efforts
in developing their business as a brand. The hotel organizations who are in the way of
making their business a brand can be able to differentiate easily from their competitors
existing in the market as well. According to Bampo et al., (2008) branding brings in some of
the advantages which might make the new business to be sustainable in the future. Branding
will provide flexibility and enhances the credibility of any business. Branding will help in
making new business to be much more established and provides stability in the business.
Branding for a new business helps in understanding the perceptions and the needs of the
customers who are involved in hotel business.
Advertisement
According to Wedel & Kamakura, (2012) the advertisement is defined as above the
line promotional technique which is used by most of the business organizations belonging to
any sector. The advertisement takes up lot of expenses for any business organizations so for
advertising to be selected as the medium of making the business successful in the market,
they need to spend a lot of money over it. It is not quite possible for the new business to
advertise their products and services or a regular basis as they do not have the high expenses
and capital to be invested on the marketing. Advertising is an essential tool for the active
promotion of the products and services as this will help in connect 6the customers
emotionally and psychologically as well. Advertising is also important in recognising and the
evaluation of a brand which will make the new business to be successful in the market.
Berthon et al., (2012) argued that branding is not that easy to be made for new business
against the existing businesses which has taken its high size and shape in the hospitality
sector. So it is obvious that for a new business to be able to compete and become successful
in the market need to do comprehensive and innovative advertisements for connecting with
the customers properly and for bringing stability in the new business as well.
Cost
The costing and control is also important factor in making the new business to
become successful in the market. The costing is always an important issue and there is the
development of an effective planning to be developed for preparing a budget for the new

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business to become feasible in this tough marketing environment. There is the need of
effective and comprehensive budget planning to be developed by the individual having high
experience in the finance profession. According to Ahmed & Rafiq, (2013) costing and
control is linked with each other and there is always a balance to be developed between cost
and control for the success of a new business.
New marketing techniques
According to McDaniel & Gates, (2013) it is the need for the new business to adopt
new marketing techniques by which they can develop branding and be able to promote their
products and services effectively to the targeted customers. The new business should also
keep on eye of the budget for the marketing they would be doing so that they can be able to
distribute their investments i9n other activities as well so that the operations and stability
could be able to develop. According to Tiago & Veríssimo, (2014) referrals could be one of
the most important and new technique which is used by the new business for develop
branding and for developing a network. Webinar is another new form of marketing method.
In a webinar a seminar will take place online. There is the presentation and demonstration of
the overall business activities as well the other activities to be introduced for the new
business to have its mark in this market as well. The next could be the polls where the
audience views and opinions are analysed so that the new business will have an idea of their
targeted customers preferences and perceptions.
Conventional Techniques
According to Ahmed & Rafiq, (2013) the conventional marketing techniques could be
the traditional marketing practices which have not been used by the organizations operating
in this globalized world now. The conventional marketing techniques will be involving the
print media including the advertisements at the newspapers, billboards, flyers as well as
leaflets. There are other forms which include the radio and TV commercials for the
promotion of the products and services.
Social Media and Digital
According to Stephen, (2016) the email marketing is said to be the co0rbnerstione of
the digital marketing. In email marketing there is the need of capturing the contacts
information for the additional marketing to be done. This helps in connecting and developing
leads for the new business to be able to cope in this market. According to McDaniel & Gates,
(2013) content marketing is the other digital method of marketing. In the content marketing,

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this is said to be the process by which the individual and attractive content to be generated for
attracting the target audience. In accordance with Stephen, (2016) the social media also has a
great influence in the marketing of the products and services for the new business. The social
media marketing will be involving the Facebook advertising where there are ads which are
digitally produced are given on Facebook. These ads will help in attracting the targeting
audience and for analysing their online behaviour.
Relationship with other brands
It is useful that for the new business to be successful and for competing with the other
brands, they emend to develop an alternative strategy. The strategy is that the new business
should be able to develop strong and healthy relationships with the other brands (McDaniel &
Gates, 2013). This should help in making the new business to get the attention of the target
audience.
Conclusion
It is evident from the study that there is the need of the effective and comprehensive
marketing practices which should be useful in the success of the new business in this market.
It is evident that with the high rise in the competition and the continous fluctuations in the
external environment, the new hotel business is under immense pressure for coping as well as
for developing the brand in this market. It is seen that the most of the new businesses are not
been able to stray on their marketing efforts and cost is an important factor for the new
business to make new and proper marketing efforts for the business. This is concluded that
technology and the internet is a useful medium for the new business for not been able to
indulge and develop its power and might as they could not be able to use the internet and the
technology effectively. The capital has been the predominant factor here which is actually
making the new business to become vulnerable if not sourced and guided properly. It is
evident from the study that the new business need to spend so much of time in using and
developing the modern marketing practices so that it should be implemented as well. The
study concludes that digital and social media marketing is said to be the best possible and
widely accepted marketing practice which the new business should incorporate. This will
help in attracting the customers and for getting the perception of the online behaviour of the
customers as well.

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Berthon, P. R., Pitt, L. F., Plangger, K., & Shapiro, D. (2012). Marketing meets Web 2.0,
social media, and creative consumers: Implications for international marketing
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