An Essay on Marketing Strategy and Innovation for Hospitality and Tourism Industry on the Basis of Business and Market Trend
Hospitality Marketing and Consumer Behaviour
Abstract
This assignment looks gives an introduction about marketing and the marketing mix to the reader. We then look into India’s hospitality Industry and how it is growing as compared ot the hospitality industries of other countries. We then look at what hospitality marketing is and its need and importance in India’s hospitality and tourism industry. Then the various new upcoming trends and innovative ideas that will boom in 2014 are discussed in details, focusing slightly on digital marketing. Then we discuss about few of the long term and short term marketing strategies that can be taken up in the hospitality and tourism industries, especially in hotels.
Qadri, s. (1276743)
Page 1
Hospitality Marketing and Consumer Behaviour
Introduction to Marketing
According to the American Marketing Association “ Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”
The world of marketing consists of various activities and terms, a few important ones are the product, which refers to the commodity or tangible good being offered to the customer and service which is an economic activity that is intangible. It is either the transfer of the goods or the use of experience, and in the hospitality industry, both products and services are consumed at the points of sale, making it a product-service mix, which shall be discussed later on. Another important part of marketing is the exchange of goods and services between the producer and consumer in a specific place. For example, the Pepsi Company choses to exchange its product with a Mexican company for wine, so as to avoid exchanging their product for pesos, which is devalued as compared the USD.(Reid,R.D. et al,2010)
The Marketing Mix is something that has been accepted everywhere and is
Abstract
This assignment looks gives an introduction about marketing and the marketing mix to the reader. We then look into India’s hospitality Industry and how it is growing as compared ot the hospitality industries of other countries. We then look at what hospitality marketing is and its need and importance in India’s hospitality and tourism industry. Then the various new upcoming trends and innovative ideas that will boom in 2014 are discussed in details, focusing slightly on digital marketing. Then we discuss about few of the long term and short term marketing strategies that can be taken up in the hospitality and tourism industries, especially in hotels.
Qadri, s. (1276743)
Page 1
Hospitality Marketing and Consumer Behaviour
Introduction to Marketing
According to the American Marketing Association “ Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”
The world of marketing consists of various activities and terms, a few important ones are the product, which refers to the commodity or tangible good being offered to the customer and service which is an economic activity that is intangible. It is either the transfer of the goods or the use of experience, and in the hospitality industry, both products and services are consumed at the points of sale, making it a product-service mix, which shall be discussed later on. Another important part of marketing is the exchange of goods and services between the producer and consumer in a specific place. For example, the Pepsi Company choses to exchange its product with a Mexican company for wine, so as to avoid exchanging their product for pesos, which is devalued as compared the USD.(Reid,R.D. et al,2010)
The Marketing Mix is something that has been accepted everywhere and is
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