Q Assignment on Marketing management- product, price, place and promotion to construct marketing strategies Home, - Marketing management Marketing management Marketing environment in hospitality and tourism industry: Marketing environment refers to both internal and external environment that combines various marketing forces and factors creating scope of serving customers. Internal environment includes the factors like employee capability, brand value, management approach, and nature of the organization. On contrary, external environment involves political, economic, social and technological environment possessing significant impact on the internal factors in producing the deliverables (Li & Kannan, 2014). In case of hospitality industry, internal environment involves, skilled workers, assets, sound production and delivery policy. External environment involves political environment, economic stability, social acceptance and technological robustness to improve delivery of the products and services for a better satisfaction level. Traditional marketing mix: Traditional marketing mix the basic elements of developing a sound marketing strategy to acquire a significant amount of market share and revenue to attain profitability. The traditional marketing mix incorporates product, price, place and promotion to construct marketing strategies combining these four factors (Srinivasan, Rutz & Pauwels, 2016). Product refers to the benefits that the customers expect from the preferred brand. Pricing is the component that most of the customers are aware off due to strength of earning and purchasing power. Place refers to the availability of the brand whether physical or virtual. Based on the availability of products and services, the promotion is planned through a good selection of promotional channels. marketing mix for services: In case of the service industry, the traditional marketing mix has been expanded to three more elements to judge the strengths and benefits of the services provided. The three elements in expanded marketing mix in service industry involve people, process and physical evidence. People refer to the key performers who deliver the services to the customers in terms of company staffs and other associated individuals (Lovelock & Patterson, 2015). Process includes the steps of generating services and way it is delivered to the end users to ensure the worth of the services against the investments. Physical evidence inculcates the presence of the brand to ensure the worth of the services and presence of the associates to entertain the customers in case of communications. Principles of destination marketing; Destination marketing refers to the promotional activities to express the benefits of visiting a destination while promoting the local potentials in the form of culture and tradition (Pike & Page, 2014). The principle of destination marketing states that it is the process that lead, influence and construct a details understanding regarding tourism and concerned destination to build a sound visitors’ experience while taking care of the needs of tourists and delivery of the actual essence of local culture. Principles of destination marketing; Destination marketing refers to the promotional activities to express the benefits of visiting a destination while promoting the local potentials in the form of culture and tradition (Pike & Page, 2014). The principle of destination marketing states that it is the process that lead, influence and construct a details understanding regarding tourism and concerned destination to build a sound visitors’ experience while taking care of the needs of tourists and delivery of the actual essence of local culture. Marketing plan for an industry-related venture: The marketing plan for an industry related venture would include a product or service related venture. In that case, the marketing plan will consume detailed description of products and services along with the benefits of the same to target audience (McDONALD, 2016). However, before that plan, market feasibility is important to evaluate whether the proposed product or service would be apt for the target market region in terms of its acceptance among the target audience. Based on feasibility and customers’ preference and demand the products and services are to be developed so that the influence of target market through promotional activities would easily attain the market response and thus, higher sales ensuring profitability of the firm. Service quality through internal marketing: Internal marketing prioritizes internal customers of the company to know the current status of product and service quality to amend the same for a good response among external customers. The parties consuming products from brand can effectively deliver the information regarding quality level that the brand is possessing currently. Therefore, collecting feedback from the internal customers, the company would work on the current service quality based on the customers’ preference so that the scope of negative response from the external customers would be minimized (Dabholkar, 2015). However, the utmost service quality is difficult to deliver as the number of internal customer is limited that does not cover the preference of major customer group. Computer concepts and technology to the hospitality and tourism industry: Computer concepts and technology refers to the technological application in hospitality and tourism industry in the form of database maintenance, transactional process and accounting ease and familiar promotional campaigning. Different applications in computer technology like spreadsheet would be helpful for the industry to create a large database where utilization of program would ease the data mining and output generation based on needs (Kansakar, Munir & Shabani, 2017). Moreover, access of such technology in alignment of internet would also deliver a scope of creating virtual platform and identify that would accumulate a greater reach of customers in comparison of the manual and physical presence in the market.
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