Marketing In Hospitality Assignment

Marketing In Hospitality Assignment Words: 464

H Waterman (1992) states that marketing is the social and management process which as individual groups obtain what they need and want through producing and exchanging products or services and values with others. 1. 1 Concepts of Marketing Marketing can also be defined as the ‘raisin dtree’ of any business as It allows the coexistence of two key but distinct elements that permits the existence of any business. This can be narrowed down to the satisfaction of the needs and demands of the customer and the profitability of the business.

In regards to the two processes, racketing becomes more important as one department thinks and carries out the processes through an organization. Although it is thought and delivered by one department. It takes the work and partnership of the entire organization to accomplish it. A product concept of the Hilton is to promote the hospitality chain of luxury hotels or property operation which implements with product or services of the company, also to sell the brand image within the competition.

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This process promotes a series of activities that are related to promotions, making strategies, broadcasting, inline promotion and excellent customer services. They are highly reasonably priced which expands production and giving out. Marketing concept Is where business or merchandise concentrates on the needs and want of the target market, delivering satisfaction to their consumers better than their competitors. Societal marketing concept Is the decision that a merchandiser makes after considering the consumer needs and requirements of the business which will be beneficial to them.

This also includes most of the long term interests of the society, but is equal factor. 1. Marketing Environment There are two factors that make up the marketing environment. These are macro and micro. Non-impact forces on the organization make up the macro environment. Although they do not have an Impact on the organization they have power over the business of the organization. The micro environment is made up on elements such as the competitors and the customers which have an impact on the organization. Competitors; there Is high competition In the hospitality industry.

This can be seen as a risk because you can lose out on profit and copying other industries can lead you own the wrong path. In order for a hospitality industry not to fail you need to categories in which these forces go into; Economy; this is where the hospitality industry can be affected by the disposable income, the inflation rate, growth, or recession. Politics/legal; this is the rules and regulations in society. This can be laws given by the government. For example, the ban of smoking in public places, gay couples are allowed to marry in the church, you have to pay tax.

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Marketing In Hospitality Assignment. (2018, Sep 27). Retrieved October 17, 2021, from