Marketing refers to the process through which a firm promotes its goods and services in the market (Bharwani and Jauhari, 2013). It assists in determining the needs and requirements of potential clients which helps the company in meeting that ineffective and successful manner. In the present assignment, the chosen organisation is Hilton Hotel which is a global brand of service hotels in the US. The assignment covers concepts of marketing, the relevance of consumer markets as well as the impact of the marketing environment on the firm. Significance of marketing mix, the role of promotional mix and pricing strategies used by the firm is also defined in this report.
1.1 Concepts of marketing
Marketing is one of the effective department which help to increase sales and creates awareness of services to society. In Hilton Hotel, there are techniques which are significant and helps to perform business operations effectively. There are many other departments in Hotel such as Room services, kitchen, Human resource, finance, sales, etc. which are related to it.
Customer wants, demands and needs: There are various offers which help to work according to demand of society. As these days there is trend of customised services, so they have to make changes in functions of various Hilton. These days people visit various destination as per purpose, demand, culture of customer. Hotel Hilton take care of such aspects which are significant for growth of business. Get the best assignment help with chat support.
Business runs to runs profits, this can be possible which is effective for approaching company and this helps to know what can be done trough which customer gets satisfied. Customer availed service from Hilton Hotel and if they get satisfied, then there will mouth to mouth promotion which is most effective tool of marketing.
Growth of consumerism:
There is a variety of consumer working to make changes in plans and policies. This is essential to know what can be done through which changes are accepted and this helps to judge demand of customer. While in on season there are rush in Hotel Hilton, so there must be proper facilities accordingly (Bowie and Buttle, 2011).
1.2 Impact of marketing environment on organisation
Business runs in society, this s effective for making changes in activities of business (Chan and Guillet, 2011). There must be use of techniques which are effective for making changes in roles and responsibilities of workers (Hyun, 2010). In business environment there are mainly two factors, they are-
In the microenvironment, there is use of techniques which are important for running business significantly as they are internal components of business. In macro environment following components are included-
Employees are people who are Working in association to achieve targets of association. They have to take care of demand of customers and act accordingly.
In Hotel Hilton, there is requirement of various factors which help to provide final services to customers.
Macro environment are not in control of management of company. Impact from such factors can be positive or negative but not in control of managers of Hotel Hilton. Components of Hotel Hilton are discussed as under-
There is important role of political party to perform business goals and objectives in effective way. Due to change in government body, there is need of change in working style.
There is need of finance which is important for running business smoothly. Hence there must be sources which are significant for growth of company.
There is use of techniques which help to work as per change in roles and responsibilities of workers to work according to demand.
As in Hotels, there is upgraded lock style, check in check out, etc. which help to provide ease in services.
1.3 Relevance of customer market
Customer market consist of numerous people who takes decisions regarding what to buy or not. Every individual who buy goods and service is called consumer. For determining needs and requirements of clients, a model is applied by Hilton Hotel which are defined below:
This aspect emphasizes on buying behaviour of clients. It involves sociological and psychological aspects. For determining purchasing behaviour of customer, some aspects needs to be analysed by firm (Lee, Hsu, Han and Kim, 2010). These are:
It is related with social class and culture of clients.
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This factor includes factors like occupation, age, lifestyle and income of customer.(Leung and et. al., 2013).
Family, status etc. are the factors included in it which is beneficial for firm to identify buying behaviour of customers.
It involves perception, beliefs, attitudes and learnings. It is beneficial for firm in determining behaviours of customers.
1.4 Rational for developing market segments
It is an activity in which firm divides its market in small segments. It is done by Hilton Hotel on the basis of:
Under this, market is divide on the basis of income, age, education, gender, social status etc.
In this, the market is divided on the basis of particular geographic areas, country, region or postal area.
social status, lifestyle etc. are the factors that are considered by manager of Hilton Hotel at the time of dividing market.
Behaviour and attitudes of customers are the factors on the basis of which market is divided by Hilton Hotel.
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2.1 Significance of marketing mix & its components
The tool of marketing mix is used by Hilton Hotel for developing right marketing strategy that assists in growth of firm. It includes:
Hilton hotel offers various products as well as services in the form of goods to its customers such as food, luxury rooms, etc.
A competitive pricing strategy is used by company for setting prices of its services and products. In it, they set prices as per the product price of competitors.
The hotel is located in various countries. It is located in such areas where it becomes easy for customers to access.
Various promotional tools are used by company in order to promote its goods and services in market and improve its brand image such as digital media, print media etc (McCabe, 2010).
2.2 Pricing strategies and policies of firm
In order to gain attention of large group of customers and attaining business objectives, firm use premium pricing strategy. In this, managers of Hilton Hotel set premium prices for its goods and services (Nunkoo, Gursoy and Ramkissoon, 2013). They also provides some discount to customers on advance bookings and online bookings. These strategies and policies are based on demand and supply of clients. As the demand high, firm increase its prices and at the time when demand is low, they decline prices of their products. Discount offers provided by company helps in gaining attention of large group of customers which in turn results in attainment of goals and objectives of company.
4.4 Implementation of the marketing plan for a suitable service or product
A marketing plan is very important for each and every organisation in order to promote their products and service in an effective manner (Ong, 2012).
Evaluation of objectives
This room is significant for couple purpose.
2 to 3 days
£1339.18 per day
This is significant for earning good profits and there are some complementary services too.
It helps to get good image in industry.
In this type of room there are two beds. These are economical.
£1239.18 for two days.
These rooms are for purpose of short business or educational trips.
Serving customer is main target of this type of room.
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