People used to say “The only three businesses which will never go out of style over the centuries are food (people have to eat), lodging (people want a safe place to sleep) and beverage (people like their beverage)!” The same though George Bradshaw who in 1976 built his first motel in Birmingham. Nowadays there is a chain of hotels throughout England and Wales – The Bradshaw Hotel Group (Appendix 1).
Although since 1976 the company has expended and Bradshaw hotel brand is well-known in all England and Wales, the profit have has fallen down. Hoand hotels become old and have not been refurbished for long time. Therefore, all departments need to think about new overall corporate strategy.
In this case research in marketing, marketing share and new marketing strategy could help to increase the number of guests therefore and further increase the profit as well. To achieve the set targets the company need to understand the meaningspeculate its of marketing, marketing strategy, and planning. and also tThey also need to look into the company from different point of visionwith a different perspective – using PEST and SWOT analysis.
What is marketing?
Today marketing must be understood not in the old sense of making a sale – “telling and selling” – but in the new sense of the satisfying customers needs. Marketing takes a place within a complex environment of social, economic, political and technological forces.
US Management guru Peter Drucker said that, “The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service fits him/her and sells itself!!!” (S.Dibb, L.Srimkin, W.M.Pride, O.C.Ferrell, 2006, p.8)
A success in business today is very much dependent on an organisation’s marketing activities.
There are many definition of marketing which generally revolve the primacy of customers as part of an exchange process. Definitions of marketing have subtly changed over time and help to understand marketing principles better.
One of common definition is from The American Marketing Association’s definition “Marketing is the integrated analysis, planning and control of products, price, promotion and distribution to create exchanges and satisfy customer and organisation needs” (T.Common 1994, p.4)
Another definition from Michael Braker “Marketing is both a philosophy of business and a business function… a state of mind concerning the optimum approach to business, and the activities whereby such ideas are translated into practise…” (M.J.Baker, 1985)
To summarize bothIn T. Common and M.J. Baker’s definition, could say that marketing is in central role for business success since it is concerned with the creation and retention of customers. In other words, marketing finds out what products or services customers want and provide those products or service to them at a price which leaves a profit for the business. In today’s crowed market place an organisation has to understand its customer’s requirements and satisfy them in a way that gives the organisation a competitive edge over other firms in the same market.
Market oriented organisation.
True market orientation exists when the needs of the organisation are balanced with the market place and sustainable long- – term transactions take place. In this environment operational efficiencies are available in tandem with the provision of superior customer value. Profit and customer satisfaction are are theoutcomes of this balanced relationship. (Appendix 2)
In the future, organisations must entrance take a holistic approach to an organisation’s position in the environment in which t operates. Along with the globalization of the market place come radical changes in technology and its management. The Bradshaw hotel also needs to follow totake the new technology and management. These changes will affect both corporate relationship and management of a firm...
Please join StudyMode to read the full document