StudentShare solutions
Triangle menu
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Marketing in Hospitality industry - Essay Example

Nobody downloaded yet
Marketing in Hospitality industry

This boils down to the fact that reaching a near exact (if not exact) supply and demand equation is important for achieving company goals. In hospitality industry, market supply can be measured by the number of beds or hotels available in an area. They are categorized as budget, mid-market or luxury experiences. Demand, which is an important factor in determining the profitability of a hospitality organization can be categorized as negative, nil, latent, falling, irregular, full , overfull an unwholesome ). Each demand type requires a different marketing strategy. For example if there is a latent demand it means that demand can be created by providing services that customers need. For example, many hotels provide “domestic short breaks” as a way of creating latent demand (Bowie and Buttle 2004). Another demand categorization stems from different types of travel which can be business travel and travel for leisure. Both these could be domestic and international.
Hospitality industry is characterized by cyclical trends. For example, many tourist destinations close down during adverse weather conditions like extreme heat (e.g. UAE) or extreme cold. Thus, the hotels and restaurants have to ensure that they either earn enough during the peak tourist seasons to sustain their operational costs during the troughs or come up with marketing techniques to attract customers during these times. Socio-cultural factors also impact this industry to a great extent. Eating and drinking habits, travel habits and types of entertainment that people like to indulge in are all important factors that the hotels and restaurants in a particular area need to keep in mind before designing services or products. Demographic factors also impact this industry. For example, countries that have aging population need to have restaurants that have menus according to their liking which would be very different from those in younger countries. Technological advances in communication as well as kitchen equipment are vital factors affecting hospitality marketers. Environmental factors have today become very sensitive issues for marketers of this industry. The race for setting up new leisure properties has had an adverse impact on the environment which the local populations have started acknowledging now. Local population of these places has felt the effects of deforestation and carbon emission resulting from ferrying tourists from one place to the other. Thus, the marketers need to keep these sensitive issues in mind and promote green services which do not harm the environment. The intermingling of the local and foreign population also has impact on the social and cultural values of the local youth. Internal factors that impact this industry are suppliers, employees, intermediaries, competitors, publics and customers (Bowie and Buttle 2004). Suppliers are very important for a restaurant of a hotel to maintain quality. Employees are of utmost significance in this business as they are the face of the organization. Service is an intangible experience which is highly dependent on courtesy as well as skill. Intermediaries are important links between the customers and the hoteliers. They help to influence consumer choices for a particular destination and hotel. Competition like any other industry is very important factor in determining the marketing strategy. Direct competitors can be tackled by designing value add services but indirect competitors pose equal amount of threat as the direct ones. For example, the decision on buying a luxury car vs. going on a holiday has a significant impact on the business generation for this industry. High fixed cost is another important characteristic of this industry. ...Show more
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Marketing in Hospitality industry Essay Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.net/marketing/40863-marketing-in-hospitality-industry
(Marketing in Hospitality Industry Essay Example | Topics and Well Written Essays - 2500 Words)
https://studentshare.net/marketing/40863-marketing-in-hospitality-industry.
“Marketing in Hospitality Industry Essay Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.net/marketing/40863-marketing-in-hospitality-industry.
  • Cited: 0 times

Summary

In general “marketing concept is based on the premise that firms determine customer wants and needs and then design products or services….while achieving company goals”. Hospitality industry is characterized by cyclical trends. For example, many tourist destinations close down during adverse weather conditions like extreme heat or extreme cold. …
Author : denesikjennyfer
Marketing in Hospitality industry
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Marketing in Hospitality industry"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Hospitality industry marketing planning. Radisson Edwardian Hotel in the UK
The organisation chosen for this report is Radisson Edwardian Hotel in the UK. It is one of the famous luxurious hotels in the UK. Further, this report will outline the 7Ps of marketing and how Radisson Edwardian Hotel applied 7Ps in their hotel.
9 pages (2250 words) Essay
Hospitality Industry Marketing
Better hospitality services; involve maximum cooperation between managers and leaders of both hospitality, and human resource. It is important for them to have an agreement that, for them to achieve their goals, they should recognize their customers and do their best to please them.
5 pages (1250 words) Research Paper
Marketing of Segmentation in hospitality industru
Usually, different marketing techniques are used for addressing issues that are unique within each industry. However, there are certain marketing techniques, which are effective in all marketing projects, no matter the industry involved. Segmentation is one of these techniques.
3 pages (750 words) Essay
Hospitality Industry and ITC
The results after application of IT has also discussed. The development of Internet and Intranet in context with the hospitality industry is also an issue. The case studies of different hotels are also showing the application of IT.
6 pages (1500 words) Essay
Hospitality/Lodging/Tourism Industry
In general, there is a strong correlation between having a good economic performance and the increase in the revenue of hospitality, lodging, and tourism industry. Since there has been an increased in the market
7 pages (1750 words) Essay
Hospitality Industry Questionnaire
Main responsibility is that clean, hygienic conditions are maintained in the lodge, ensuring comfortable stay of the customers. Ethical considerations vis-à-vis diversity, minimum wages clause,
3 pages (750 words) Essay
Hospitality marketing
It defines an organization’s intention and the reasons for establishment. Consequently, a mission statement is an expression of what an organization ought to have been if it functioned in its ideal environment. The definition of a
5 pages (1250 words) Essay
Hospitality marketing
Companies in the hospitality industry can greatly benefit from the use of product positioning. A positioning statement for a company in the hospitality industry is: To provide the customers with a
2 pages (500 words) Essay
Hospitality marketing
s at diverse places and times comprising product or service, selling, operations, bottom-line operations as well as marketing orientation (Shoemaker & Shaw 16). The product/service orientation concept considerably facilitates companies operating in the hospitality industry in
7 pages (1750 words) Essay
Services marketing: physical evidence in hospitality industry
With regard to these two, there are two major perspectives with regard to service marketing. Resorts and spas can be marketing as wellness and health service destinations, or they can be marketed as relaxation experience destination (Philep, 2012). They also can be
10 pages (2500 words) Essay
Comments (0)
Click to create a comment
Let us find you another Essay on topic Marketing in Hospitality industry for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us