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Marketing Flashcards

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1
Q

I. MARKET STRATEGY IN HOTEL INDUSTRY

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2
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Marketing started as a result of economic and business pressure due to a need that arises to focus on

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3
Q

embracing a set of managerial measures to satisfy customers’ needs. The evolution of marketing in the

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Identify Customers

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4
Q

hotel industry is similar to every other industry. The main reason for the marketing in the hotel business

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5
Q

is because of the growth in the number of guests who need accommodation and the increase in

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6
Q

competition by the accommodation service providers. Moreover

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the hotel industry is becoming a more

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7
Q

and more mature market whereby the competition is increasing globally

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and winning customers

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8
Q

becomes a problem. Therefore

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there is a huge shift to marketing.

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9
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The hotel industry is so competitive that it requires the hotel to formulate a dynamic mechanism that

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10
Q

can adapt to the changes in the market environment

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the competitiveness of the market as well as the

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11
Q

economic climate. The ultimate goal of having a marketing strategy is usually to identify opportunities to

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12
Q

serve the market in a way that is profitable and effective enough to the extent that it becomes difficult if

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13
Q

not impossible for another company to ta to take up the venture without running into losses.

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14
Q

Some authors believe that at the initial stage of starting a hotel business

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the hotel will not make a profit

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15
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even in the second year the hotel will only break even and the hotel may start to make a little profit from

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16
Q

the third year. On the other hand

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other marketers in the hotel industry of think that the hotel can start

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17
Q

to make a profit immediately from the first year of entering into the mark industry if the right marketing

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18
Q

strategies were used.

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19
Q

A hotelier that wants to achieve success needs to have a deep understanding of marketing and how to

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20
Q

combine various marketing elements such as price

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product promotion

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21
Q

The above graph is a representation of the entire marketing strategy of a hotel. A hotel needs to use

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22
Q

different combinations of various inputs such as advertising marketing channel personal selling

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and

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23
Q

advertising

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and so on to get the desired return on investment.

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24
Q

It is common to see society changes in its value and needs so hotel marketers also have to change the

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overall marketing strategy to fit the changes in society. Marketing strategy helps in discovering the areas
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affected by organizational growth and thereby helps in creating an organizational plan to cater to the
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customer needs. It helps in fixing the right price for organization's goods and services based on
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information collected by market research.
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II. ROLE OF MARKETING IN HOSPITALITY INDUSTRY
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Effective marketing campaign gives a company an edge over its competitors. A business may offer the
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Marketing plays a vital role in the success of any business organization. Since all aspects of the business
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depend on successful marketing
it is difficult to highlight all the roles which marketing plays in a
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company.
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Marketing helps in building a company's brand name and placing the company's product or service in the
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heart of prospective customers. In the hotel industry
the success of any hotel often depends on a good
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reputation. As the reputation of a hotel grows bigger within society
more customers will lodge in the
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hotel
thereby making the hotel's room occupancy rate increase and generate more income for the
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hotel. Additionally
it is fair to say that marketing really helps in the aspect of branding as it creates and
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supports effective communication within and outside the hotel unit.
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best product in the market
but without a good marketing campaign
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returns on investment because it is marketing that makes the product or service known to prospective
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customers
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A good marketing campaign helps a company to efficiently manage its resources. When an effective and
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efficient marketing strategy is adopted in a company
resource wastage is reduced if not eliminated. The
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hotel industry is an industry with perishable products
in other Words
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particular period
the income that is supposed to be realized on that particular room is lost forever and it
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cannot be regained.
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THE ROLE OF MARKETING
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IDENTIFY CUSTOMERS
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• Understand customer wants and needs
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• Identify whom to target and how to reach them
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SATISFY CUSTOMERS
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• Make the right productor service available to the right people at the right time
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• Make everyone feel better off from the exchange
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RETAIN CUSTOMERS
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• Give customers a reason to keep coming back
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• Find new opportunities to win their business
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Figure 3.2: The Role of Marketing
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Effective marketing contributes to the hotel's ability to maintain a high occupancy rate at all times.
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Marketing aids in the growth of a company's revenue. As more individuals become aware of a company's
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products or services
the company's market share grows
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Since marketing serves as a platform for bridging the gap between a hotel and its clients
a hotel's
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marketing plan must guarantee that the proper messages are communicated to customers. Furthermore
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marketing's ultimate purpose should be to facilitate a win-win situation for both the hotel and the
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clients. The hotel management should implement the most effective and efficient marketing strategies
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that serve the company's interests without risking the customers' interests.
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THE HOTEL MARKETING MIX
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Defining a proper marketing mix for the hotel industry is crucial for the success of hotel marketing
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efforts. A marketing mix is used to indicate the several marketing variables used by the sales team to
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target specific guests or target market segments (E.g.: Corporate
Transient
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etc.).
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The MARKETING MIX is often created by the sales director and marketing sales managers. The hotel
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should have the appropriate facilities/services
as well as effective promotional strategies (both online
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and
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offline) and
finally
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Figure 3.3: The Hotel Marketing Mix Chart
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1) Service/ Facilities:
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This is considered as the first because without this hotel marketing team will have nothing to
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deliver or offer to the potential guests/ customers.
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Hotel industry offer products like:
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• Guest rooms
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• Food and beverage
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• Banqueting rooms
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• Conference facilities
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• Recreational facilities
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• Health and wellness facilities
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• Executive lounge
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• Express check-in checkout services
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• Travel desk
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• Business center
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• Parking facilities etc.
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Hotels generally cater to different market segments and each of these market segments has different
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requirements. E.g.: A leisure guest on a family trip looks for recreational and wellness facilities of the
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hotel whereas a business traveler gives importance to the hotel's business facilities like the business
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center
video conferencing. good in-room internet connectivity
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This analysis by the sales and marketing department can assist top management in identifying these
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specific requirements and working with them to establish such facilities or make the necessary
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adjustments.
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2) Place and Distribution
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This refers to the accessibility of the products to consumers. When comparing to other products
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normally hotels products doesn't travel to customers but the customers come to the product.
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Place or Location of the hotel e.g.; choices like in the city
outskirts of the city
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a chain of hotels with presence in multiple locations. The hotel uses either direct or indirect distribution
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methods to reach out to its potential customers. Direct methods refer to direct-customer-approach
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where the hotel controls all aspects of distribution while Indirect methods involves third parties such as
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agencies to help them with distribution. Examples of both are below…
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Direct methods
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• Sales through the hotel sales team
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• Personal telephone calls
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• Online pay per click or Banner Advertisements (Google ads
Facebook ads
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• Printed media Advertisements
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• Other Media Advertisements
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• Hotel Website Booking System (WBS)
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• Global distribution system (GDS)
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Indirect methods
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• Travel Agents
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• Independent Travel agents
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• Event Planners
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• Online Travel Agents (Expeida
booking.com
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• Online Travel portals (Trip Advisor
Hotels
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• Independent hotel representative.
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3) Promotions and communications
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The hotel's director of sales and marketing should figure out the best promotion and communication
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mix. The way hotels interact with their target clients is through promotion. Promotion is a
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communication tool that is used to not only inform but also interact with clients in order to gain long￾term benefits. The basic goal of promotion is to keep customers/visitors informed.
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Below are few promotions and communication channels used by hotels:
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• Brochures
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• Television commercials
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• Hotel Websites
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• Twitter Channel
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• Facebook Page
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• Google+ Page
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• Hotel pens & pencils
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• Scratchpads with the hotel logo
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• Billboards
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• TV Commercial
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4) Room Rate or Pricing:
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One of the most crucial components of the marketing mix is determining the proper price approach. If
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hotel products such as guest rooms
food and beverage menus
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competitively
potential guests may decline to use hotel services.
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In this highly competitive sector
pricing and name packages have a significant impact on guests. Hotel
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rate codes and packages are created with the goal of attracting or impressing guests. The room rent you
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charge for your hotel rooms is critical to your business
particularly if you want to sell more rooms. As a
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result
correctly pricing your rooms at the appropriate moment is unavoidable.
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Generally
the hotel room rates are defined as per the below season:
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Peak Season
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This is the period when demand for a hotel and its services is highest and the hotel can charge the
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highest prices to the guest. There is no defined peak period for all hotels to varies from hotel to hotel.
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Valley Season/Off-Season
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This is the time of the year with the lowest demand for rooms. Hotels generally offer the reduced rates
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and packages e.g.: Stay for 3 and pay for 2 nights
Discounted Package rates
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Shoulder Season
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This period falls between peak season and off-season
and this time is considered as the best time to
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attract new business as the rooms are available and medium or highest rates can be charged Also
the
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sales and marketing activities should be the highest during t

Tourism Marketing (1 decks)

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