Unit 15 Hospitality Marketing Essentials Solution:
Hospitality Marketing
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Introduction
Every customer will be delighted on getting well treated, be it by our peers or at a place they visit. When it comes to Hospitality, it has become the ‘blood' of business from time immemorial. To start with the importance of Hospitality, every individual is attracted immensely towards a good hospitality(Šimberová,2015). This includes almost everyonewithout any exception. The relevance of marketing is inevitable in any organization. Marketing helps in increasing the sales and revenue of a firm through effective marketing and promotional techniques. Marketing strategies are framed by organizations with the internal and external environment analysis which also helps in understanding the current market trends, customer wants and preferences, technological innovations and so on.Hospitality includes offering service with comfort and involves businesses such as transportation, Hilton aspect, and Food Company, the concept of theme parks, travel, Hotel Company and many other service industries as well. Looking into the major trending in today's world is the ‘Hilton' company. This particular company is lot in demand and has made its mark in every sector of business that recommends for a get together or conference or a meet to grow as a business organization. Hilton Hotels was founded a century before which is one of the leading hotels across the world. Hilton has its headquarters in Virginia with over 600 luxury hotels and 5500 properties in more than 109 countries. The Hilton was founded by Conrad Hilton in 1919.According to the Forbes survey, Hilton is considered to be the 36th largest private Hilton. The first hotel was named as Dallas Hilton, which was opened in Dallas, Texas. This paper discuss about the management of an Hilton and its marketing plan with the proper design of 7ps of its marketing mix. The marketing strategies of Hilton are evaluated in this paper to see its effectiveness on the revenue from its various branches of hotels in different locations. This will also ensure the successful operations of Hilton with an increased brand image and success on a long run. In 2018, the net income for third quarter was $557 million, a 9-percent increase from the previous year. Full year 2018 Adjusted EBITDA is expected to be between $2,075 million and $2,095 million.
Learning Outcome 1:
Marketing
Marketing is defined as "Marketing refers to activities undertaken by a Hilton to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses."
Role of marketing responsibilities in Hilton
Marketing has a major role in an hotel management Hilton. A warm and friendly welcome is the motto or slogan for a goodmanagement systemand the same needs to be marketed if taken as a business to handle. The above system preferably relates to the way guests are welcomed, the seating arrangement or the comfort the guests would enjoy and many other aspects which makes the event successful (Layton, 2011). There is a huge marketing effort and care taken while enforcing an Hilton for any sector of business since it involves an extra attention, which in turn makes it very successful that leads to more demand for such events in future for that specified Hilton that constructed the idea of the event. Hence, more and more importance is based on the presentation and performance of the staff, hence appointed to take care of the event and make it a successful one.
Marketing Factor Important for Hilton
Coming to the marketing of a ‘Hilton', it directly links to the hospitality offered by the core group that looks into the process of presenting and making the event successful. It is obvious that the facts that need to be nurtured and allowed to be noted when the event is planned is taken good care of and introduced to the staff who will take it forward to make it successful.The reason why the customers' stays cling to a business is the businesses' loyalty and also the varied technology used by the business to reach out to the customer or the customers' needs. Hence, it would be vital for the hotelcompany also to follow these similar principles and accordingly get growing with the growth of the customers. Also, being creative is important in any field as ‘Change is Constant'. Hence varied types of process change at required intervals when time demands become important.
Marketing function:
Advertising:
One of the important concepts of pushing the business forward is advertising and this happens to be the best tool to reach out to more customers. Therefore, concentrating on offline and online advertising will give you more customers and more profit in a longer run.Local advertising is another tool for a better customer range and this includes advertising in a newspaper, apart from the regional magazines since it would be effective on getting more customers for business (Layton, 2011). Again, a good sense of reach is found when something is advertised on a line which reaches many. Advertising on newspapers and magazines has been rewarding from a very long time and it is a source which most of the businesses resort in order to get more business.
Considering the Concept Networking and distribution
Networking is another source through which more business is developed and here while Hilton is the concept, it can reach the people through the best networking possible. It is possible only when you have already had customers visiting your presentation and it has been spread to others who in turn will spread to some more.
In this way there would be more number of people knowing your business and wanting to know how to get in touch with you so as to avail your services.
Brochure for getting more business
Make sure that you mention the information about your ‘Hilton' business in the brochure as this would inform the people while having a look at it and allow them to know about the business offers which in turn will enable the business to get more customers. The brochure must reach the right amount of people looking for what you are offering. Linking with the hotels or corporate businesses is another way to get the Hilton business to their doorstep when required.
Pricing
Mention the prices at which you can be feasible enough to offer which will gather more customers (Mohamad, 2011).The corporate sectors most of the time requires Hilton to be undertaken as they include lot of events organized by them and require a huge managerial concept in making the event successful. This is where the Hilton skill plays a great role and the ‘Hilton' business comes into picture. This is also where all the advertising comes into effect that leads to the choice of the corporate.Hiltonmay require a crowd source to market it and resorting to the same would be fruitful. Again, this is another way of getting the business of Hilton to customers and securing more business.
Social media also plays an important role in doing a lot of propaganda about the business and making a good use of it would give a favorable effect in creating development ofthe process of the company.
On a final note about the business development, one has to understand that business has its own pros and cons whether it is advertising or reaching the right crowd. Looking into the sector that gets profit to your end is the area of focus and logically that should be the thought as well.
Feedback session would enable the business to grow much better since after each ‘Hilton' project the business hence dealing with this can know where it has gone wrong and how it can rectify its errors if it has been brought forward on board by the customers through their feedback and also accordinglymaking sure to do their best and not to repeat or make any errors.
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Learning Outcome 2
Marketing mix in Hilton Company
Project: In this marketing mix, the Hilton decides which project to be undertaken. Is there any theme or what all activities to do for the purpose of achieving the organizational goal. The project chosen and the activities planned have to be realistic and achievable.
Role of marketing plan
The right marketing plan and strategies are essential to see what can be done to effectively complete the project within the stipulated time. The options or ideas are to be narrow down to choose the right steps for the success of the project.
People:
The next step in the marketing mix is arranging the right people who are capable of doing this project. This is an essential element as the Hiltonneeds to consider the right skilled and talented people who are capable enough to complete the tasks. The event has to be smoothly run and for this the necessary resources are arranged. For this, only rightly experienced and talented people can do it properly. The right organizers, staffs for various duties are set and properly delegated with the respective works so that it will not cause any job role conflicts and confusions during the event.
Price:
The HiltonHilton has to plan the best pricing strategy to ensure a good profit margin for their services. In order to determine the pricing, they need to know the entire costs of operations related to all event activities (Kotler, 2015). Thus a proper budget is to be planned and this enables the optimum utilization of the resources. Some of the effective pricing strategies they can adopt are cost based pricing, value based pricing, competitive pricing, bundle pricing, premium pricing and so on. Some of the general assumptions and estimations will also help the Hilton to target on the right pricing methods. With the better pricing than the competitors, the Hilton will be able to attract more customers and thereby increase its revenue and profit margins.
Place:
The location of the service has an important role in the business success. When the Hilton is not placed in prime locations or if their services are not available in many places, it will directly decline their sales. The location of the event will influence on the attendance of the participants, personality of the event and so on, Proximity and easiness to travel is one the major aspect while making the decisions about the choice of event venue. Some other factors to be considered in the plan are ambiance, logistics, audiences, safety and security of the place and so on.
Public relations:
This is another major part of the marketing mix. Whatever advertisement is given about the Hilton services and other facilities, public relation will help the Hilton to know what others perceive about the Hilton.Hence, for getting positive feedback from people, the HiltonHilton need to ensure there are frequent press meetings, ad campaigns, publications online and offline etc to make sure people have a good image about their brand. This strategy of having more positive public relations will contribute to more business for the Hilton. More people will get attracted to their services, which wil in turn boost the sales and ROI of the business. Therefore companies need to keep good public relations to make sure their brand value is reached to many customers.
Positioning
When the services or products are properly positioned in the target market, it will increase the sales as well. Thus it is a crucial marketing strategy that needs the Hilton to ensure that its services are positioned rightly so that it reaches the right customers and improve their competitive edge. An event cannot be sold well until a proper marketing plan is created. This marketing plan is the determinant of success or failure of the business. Thus the key element of a marketing plan is the positioning of the Hilton in their market segment. Positioning is therefore a strategy which helps the Hilton to increase its customer base by proper research and analysis of the exact customer needs so that the events can meet their needs and ensure better customer satisfaction. This will help the Hilton to know how much to invest in an event, which niche to choose to succeed and which niche to avoid that brings no profits, the unique features of market and so on will be understood in order to create the best and most effective marketing plan.
Promotion
There is a vital need for the Hilton to have good promotional activities so that Hilton can sell well their events. With the emergence of digitalization, now a days more companies are giving advertisements on the online platforms and social media to reach to more customers. Promotional strategies have to be effective to improve business sales and customer base. There is high competition in the Hiltonhotel and therefore, there is a vital need that companies have to provide unique services to the clients to attract them and make them shift from other brands.
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Learning Outcome 3
Strategic and Environmental plan
Long term: The business organisation makes an effective long term plan with proper goals aligned so as to achieve competitive edge and business success. Business strategies are formulated considering the proper market conditions on a long term.
Visionary: Business strategic plans of the Hilton are framed and implemented with a visionary on its long term as well as short term objectives. The vision and mission of the Hilton are aligned with this to make all employees work towards the common business goals.
Proactive: As Hilton, they need to create effective and unique business and environmental strategies than its competitors. This can attract more customers and also an increased business growth.
Flexible: The Hilton has the strategy of flexible business operations and ideas so that it can be adaptive to the complex business environment and get competitive edge and success.
Marketing Plan of Hilton: A good marketing plan will ensure long term business success. Hence, for the Hilton, it is necessary to create an effective marketing plan. Below is the basic marketing plan:
Corporate planning
The corporate divisions more often than not requires event the executives to be attempted as they incorporate parcel of events composed by them and require a tremendous administrative idea in making the event effective. Subsequently a legitimate spending plan is to be arranged and this empowers the ideal usage of the assets (Belch, 2004). The area of the administration has a critical job in the business achievement. At the point when the event the executives organization isn't set in prime areas or if their administrations are not accessible in numerous spots, it will legitimately decrease their deals. This is another significant piece of the promoting blend. Whatever notice is given about the organization administrations and different offices, open connection will assist the organization with knowing what others see about the Hilton. When the administrations or items are legitimately situated in the objective market, it will build the deals also. Along these lines it is a critical promoting procedure that needs the event the board to guarantee that its administrations are situated properly with the goal that it achieves the correct clients and improve their focused edge. There is an indispensable requirement for the event the board organization to have great limited time exercises with the goal that organization can sell well their events. With the rise of digitalization, presently a day's more organizations are giving advertisements on the online stages and web based life to reach to more customers.
Marketing goals and objectives
The marketing objectives of the Hilton are identified as the initial steps. The mission and vision statements are also followed to see what the Hilton is aiming at for the short run as well as the long run. This will help the business to know the deliverables of the business. What to focus on and what not to focus on. Thereby creating marketing objectives and determining the goals, it will be easy for business to plan and strategies its marketing activities and thereby implement in for the business success. The fundamental test for business methodology is to discover a method for accomplishing a sustainable competitive advantage over the other contending services and firms in a market. Sustainable competitive advantage is leverage over competitors picked up by offering customers more prominent esteem, either by methods for lower costs or by giving more noteworthy advantages and administration that legitimizes more expensive rates. Porter proposed four "conventional" business techniques that could be received so as to increase competitive advantage. The techniques identify with the degree to which the extent of a business' exercises are tight versus wide and the degree to which a business tries for product differentiation.
SWOT analysis
SWOT Analysis is a valuable strategy for understanding your Strengths and Weaknesses, and for distinguishing both the Opportunities open to you and the Threats you face.SWOT represents: Strength, Weakness, Opportunity, Threat. A SWOT investigation guides you to recognize your association's qualities and shortcomings (S-W), just as more extensive chances and dangers (O-T). Building up a more full consciousness of the circumstance assists with both key arranging and basic leadership (Ginevicius,2013). This is the place the event the executives aptitude assumes an extraordinary job and the Hospitality Management' business comes into picture. This is additionally where all the promoting becomes effective that prompts the decision of the corporate. Input session would empower the business to develop much better since after every Hilton' venture the business subsequently managing this can know where it has turned out badly and how it can correct its mistakes in the event that it has been presented on board by the clients through their criticism and furthermore in like manner making a point to give a valiant effort and not to rehash or make any blunders. In this showcasing blend, the organization chooses which venture to be attempted. This is a fundamental component as the organization needs to consider the privilege gifted and skilled individuals who are sufficiently able to finish the tasks. Hilton needs to design the best estimating methodology to guarantee decent net revenue for their services. So as to decide the valuing, they have to know the whole expenses of tasks identified with all event exercises.
Creating a marketing budget is an essential thing. This is necessary for the business to set what exactly is needed to spend for procuring resources and also to conduct the event activities. A proper budget has to be set beforehand in the marketing plan so that there is no discrepancies' in the later event implementation stages (Dibb, 2000). This will give the event planners a good idea on how to effectively use their funds and have an optimum use of the resources. It will also help the Hilton to target on the right pricing methods. With the better pricing than the competitors, the Hilton will be able to attract more customers and thereby increase its revenue and profit margins.
Business goals and objectives
Consequently, increasingly more significance depends on the introduction and execution of the staff, subsequently delegated to deal with the event and make it a fruitful one. The motivation behind why the customer stays stick to a business is the organizations' reliability and furthermore the shifted innovation utilized by the business to contact the client or the clients' needs. Thus, it would be indispensable for the event the board business additionally to pursue these comparative standards and appropriately get developing with the development of the clients. Additionally, being inventive is critical in any field as 'Change is Constant'. Consequently fluctuated kinds of procedure change at required interims when time requests become critical (Chernev, 2018). The promoting activities of the event the management organization is distinguished as the underlying advances. The mission and vision explanations are likewise pursued to perceive what the organization is going for the short keep running just as the long run. This will assist the business with knowing the expectations of the business. What to concentrate on and what not to concentrate on. In this manner making promoting activities and deciding the objectives, it will be simple for business to plan and techniques its showcasing exercises and consequently actualize in for the business achievement.
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