BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953, 08168759420
WHATSAPP US ON 08137701720
MARKETING TECHNIQUES IN THE HOSPITALITY INDUSTRY
- Background of the study
The hospitality industry evolves under the influence of multiple external and internal factors (Bernini and Guizzardi, 2010). These determinants might differ depending on the country in which the business operates. Historical, economic, cultural, and social spheres have their influence on the way the hospitality industry develops (O’Dell, 2010). At the same time, the business of hotels and restaurants continuously encounters various challenges in terms of competitiveness (Schoffstall, 2013). Indeed, the highly competitive business environment of the hospitality sphere exposes it to the search for new marketing strategies to obtain a more significant market share (Dzhandzhugazova et al., 2016).
Therefore, hotels and other entities within the field of hospitality business develop specific marketing strategies that enable obtaining competitive advantages in comparison with other businesses of the same industry (Thomas, 1978). The overall performance of an organization tests the effectiveness of marketing strategies. Under the circumstances of the emerging globalization in the sphere, the influence of geographical positioning and culture-specific elements must be addressed when judging the effectiveness of particular strategies (Ismagilova et al., 2015). This research will compare the effective marketing strategies used in the hotels in two countries, which are the USA and the UK, to explore the similarities and differences.
The purpose of the study is to compare the utilized effective marketing strategies for hotel businesses in the USA and the UK. The comparison will allow for concluding the influence of the country of business location on the strategic decisions and tool choice. The identification of the dependence of the effectiveness of particular marketing strategies on the country will form a foundation for further investigation of culture-specific and state-specific patterns in the hospitality industry.
The development of hospitality industry entities has had different origins and was conditioned by various factors in different countries over its history (Why is the hospitality industry important, 2018). The specific characteristics of different states imply the variances in their attitude toward managerial decisions and marketing strategies. Historically, in Europe, the development of the hospitality industry incepted more than half a century ago and has its long-established tradition (Bowie and Buttle, 2004).
The long history of sector development impacts the prevalence of small family-based hotels and restaurants. Therefore, UK hotels are mostly limited to local entities with a small number of rooms (Bowie and Buttle, 2004). On the contrary, in the USA, “hotel development coincided with economic and social development in the nineteenth and twentieth centuries” (Bowie and Buttle, 2004, p. 86). Such American hospitality entrepreneurs, like Hilton and Marriott, have created large international hotel chains that not only managed to succeed in the US domestic market but also beneficially penetrate the markets of other countries (Salvioni, 2016).
Get your 100% original paper on any topic
done in as little as 3 hours
Such a relatively young American industry demonstrates high-level business achievements and competes with an older European one (Hirschman and Mogford, 2010). Therefore, it is essential to apply academic tools to investigate the extent of similarities and differences between the two designated countries’ hospitality industries.
The choice of the topic for the research is determined by insufficient academic attention to the issue of country-specific and culture-specific differences in the application of marketing strategies in the hospitality industry (Ramaseshan, Bejou, Jain, and Mason, 2006).
There is no extensive data available on the similarities and differences between the leading English-speaking countries, the USA and the UK, which are the representatives of two different economic and historical backgrounds (Neeley, 2012). Since the issue of the hospitality business, in general, is frequently addressed in the academic literature, it is vital to narrow the scope of research to more specific problems (Serra-Cantallops, Pena-Miranda, Ramon-Cardona and Martorell-Cunill, 2017). Therefore, the study will concentrate on the accommodation sector of the hospitality industry, namely hotels in the USA and the UK.
The hospitality industry is legendary for its low profit margins and high level of competition, and never was this so true as it is now. With so many small businesses going under in the first year, small businesses in the hospitality industry must look to differentiating themselves via marketing, and larger businesses, though they still have more wiggle room, must make every marketing dollar count.
Much of the future of hospitality marketing lies in three major areas: technology, customer loyalty, creativity, and new concepts in the business model. Other aspects of traditional marketing such as flyering and television are still somewhat effective, but, as stated by Patricia Mitchell, Head of Marketing at SolidEssay, many businesses have found they are not as cost-effective as other sources of customer attention.
Creativity used to be thought of as not so much a marketing concept as fodder for marketing: the business stakeholders came up with new business ideas, and the marketing team based advertisements around them. Now, however, restaurants like Pret a Manger have made a mark in the market by combining advertising with the restaurant’s concept itself. Pret is an advertising concept that is built into the restaurant design, using large outdoor display windows to highlight its unique concept of stocking sandwiches and entrees like a grocery store, but creating a restaurant experience for customers inside. The stores are placed in high-traffic urban areas, letting the location and design of the store itself advertise the clever concept to passers-by. Concepts that are creative enough to serve as marketing strategies themselves allow each aspect of the restaurant to multitask. A store design such as Pret’s is one example; other strategies have included gimmicks that spread through word of mouth, such as Ed Debevic’s rude waiters. Making the restaurant concept its own advertisement is not easy, but it is a very cost-effective marketing strategy.
Most hospitality professionals would rather do their core job than worry about the company website. Like it or not, however, most hospitality businesses need an online presence, a mobile presence, and a leadership that is in touch with how to make the most of viral technology that can spread the word about the establishment . According to Michael Wright, Content Marketing Director at ConfidentWriters, content is king on websites of all kinds, and this is also true for hospitality home sites. Having the marketing team focus on building a website is a better use of resources than traditional advertising in some markets.
Mobile is quickly becoming more important than desktop strategies, and—surprisingly to some in the industry—video has become a very effective way to spread publicity about a business. If the marketing team can attach a hotel or restaurant to a video that goes viral, they have scored a major coup for comparatively little money; a fun YouTube video is far less costly to produce than a television commercial and, if done well, can have far greater reach.
Some of the above technological techniques can help build that very old-fashioned staple of a successful business: customer loyalty. Yes, a repeat customer already knows the business exists. However, with so many businesses in the market and so much content on the web, part of marketing job is now connected to making sure that previous customers who have had good experiences are reminded of them. Therefore, technology must not just be used; it must be maximized through personalization. Allow customers to take surveys, and insert their names and favorite menu items they have ordered in a customized group email. Personalization of social media and email content experiences for customers are part of making customers remember the business—and more important, they should also feel remembered by the business.
Finally, nothing adds to loyalty, enhances creativity, and maximizes technology like a great customer experience. Your best marketing strategy, once initial customers have been attracted, is to ensure satisfaction in every element of service. Content may be king, but especially with yelpers lurking around every corner, word of mouth is still one of the best drivers of sustained business in the industry.
1.2 Statement of the problem
The right marketing plan draws attention to your brand, demonstrates your personality to your target audience, and improves your chances of ongoing sales. With hospitality marketing, organisations in the food, travel, and recreational spaces can build their identity, attract new customers and maintain loyalty among existing clients.
The question is, how do you create the right hospitality marketing plans to deliver exceptional ROI in a continually evolving sector?
Like many industries, the hospitality space has begun to see a rise in disruptive new technology and digitalisation. For many old-fashioned restaurants, hotels and entertainment venues, this means that it’s time to re-think the hospitality marketing concepts that you used in days gone by and upgrade your strategy for the years ahead.
In any company, a great marketing strategy is key to building a strong brand and engaging customers. The hospitality industry is no exception. In restaurants and hotels, customer loyalty is often key to success, as many hospitality organisations make the majority of their income from return customers and brand ambassadors. Repeat customers are often responsible for up to 40% of a store or hospitality brand’s revenue.
1.3 Objectives of the study
1. To understand the effective marketing techniques in the hospitality industry
2. To understand the relationship between marketing techniques and growth and development of hospitality industry in Nigeria.
1.4 Research Questions
1. What are the marketing techniques in the hospitality industry
2. What is the relationship between marketing techniques and growth and development of hospitality industry in Nigeria.
1.5 Research Hypothesis
H0: There is no relationship between marketing techniques and development of hospitality industry in Nigeria.
H1: There is a relationship between marketing techniques and development of hospitality industry in Nigeria.
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5,000) into our bank Account below, send the following information to
08068231953 or 08168759420
(1) Your project topics
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) after we receive bank alert
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 3139283609
Bank: FIRST BANK
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420