Marketing Environment in Hospitality

Unit 8 Marketing Environment in Hospitality Assignment

introduction
Marketing plays an important role in the success of any business. Similarly, marketing plays an important role in running the hospitality industry. In the Hospitality Assignment, this Unit 8 marketing environment describes the concepts of marketing in a service industry and how this concept should be implemented (Kotler, Bowen and Mackenz, 2006). Paper also describes the role of marketing mix, its elements, location and value. Apart from this, how promotional activities are helpful for business and what role is played by the marketing cycle in the service industry environment, this paper has been well explained. As part of the study, the operation of Hotel Sheraton will also be reviewed.
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1.1 Discuss marketing concepts for a relevant service industry
Marketing can be defined as a set protocol for building customer relationships, providing communication and value for customers, that it benefits the organization and its stakeholders. In this section, Hotel Sheraton's marketing strategies will be reviewed. Marketing in the hospitality industry is different because the hospitality industry works with tangible objects like a bed, food, environment, and service etc. To use marketing tools in an efficient way, the profitability of an organization and the needs of customers should be integrated. . The focus of marketing at Hotel Sheraton is on customer's needs, demands and desires. After considering the needs of the customer, the next focus is on increasing the revenues of an organization (Ayala, Strauss and West, 1996). Therefore, integrated marketing is a joint effort of all personnel within a company.
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Prior to starting with the marketing concept, it is important for the management team that they analyze the market culture present in the market and then embed the unique concept for their marketing campaigns. Hotel Sheraton is a hospitality organization that uses the concept of integrated marketing. Hotel Sheraton has clearly shown that the purpose of the organization is to generate high revenues by keeping the needs of its guests on top priority, and the organization has seen a significant increase in revenue by using this concept. The success of the organization is also dependent on the service-oriented attitude of all its employees, which is very important in a service industry (Morrison, 2002).

1.2 Measure the impact of marketing environment on the industry
The marketing environment is important in determining the success or failure of an organization's marketing plan. Hotel Sheraton operates in a subtle and gross environment that constantly changes at a rate. This change either creates opportunities or threats for business holders. Therefore, it is advisable that the Hotel Sheraton management team should closely analyze these micro and macro-environmental factors before deciding on their marketing strategies (Morrison, 2002). Coordinating with suppliers, arranging finance, analyzing competitors, attracting customers are some of the microcredit factors and synchronizing these factors with the organization helps smooth out execution of the organization's business operations.

Estimation like demographic size, age, density, structure, business, and sex ratio should be analyzed in the initial phase as it helps in determining price competitions. It is also important to focus on economic factors such as disposable income, current interest rate, GDP and consumption patterns, as it directly affects the operations of the business. Political factors, such as tax policies, patents, stability of the government, should be considered as operating, and can be a difficult task for the regulatory organization. Technical factors like new products, applications, software upgrades should be checked at regular intervals of time. Social factors such as people's lifestyle, family size, people's ability, and people's awareness should be focused on developing an effective marketing strategy for a special organization (Burns and Bush, 2003)
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1.3 Evaluate the relevance of consumer markets in the industry
The purpose of marketing for Hotel Sheraton is to estimate, meet and satisfy customers' needs, and therefore hospitality marketing requires that they identify their target customers and their purchasing nature. Those who buy hospitality services for the use of their personnel, are known as the end users of the service and this group is called the consumer market. There are various factors that affect the purchasing decision of the final consumer and many times organizations fail to recognize these factors and how these factors can affect the purchasing decisions of the consumer market.

The marketing team at Hotel Sheraton can review the case study of Starbucks, which faced a problem in establishing a chain in China because Chinese people did not welcome the company. People thought that the presence of such companies is an indication of increasing the impact

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