THE MARKETING PROBLEMS AND PROSPECTS OF FIVE STAR HOTEL

THE MARKETING PROBLEMS AND PROSPECTS OF FIVE STAR HOTEL

INTODUCTION

The Hotel Industry is primarily a service industry providing a wide range of services ranging from the provision of accommodation, food and beverage to the provision of entertainment, sport and other leisure facilities, to travelers and tourists.

 The Hotel Industry comprises of three industries which are:

·      Companies involved in constructing, developing and owing hotel buildings.

·      Companies involved in managing hotels.

·      Franchising companies which develop Hotel chains without being involved in either owing hotel building or managing hotels

 From the customer’s prospective, A Hotel is said to be an institution of Commercial

 Hospitality, which offers its facilities and services for sale either individually or in various combinations.

The services and facilities offered for sale by the hotel includes; the Hotel location, facilities for use by the customers, Services provided through the available facilities, the Hotel image and prices of products and services offered for sale.

The main aim of marketing in the Hotel Industry is to increase sales revenue, achieved by identifying and satisfying customer’s needs and wants which may range from personal, social and societal wants.

 For effective marketing in the Hotel industry, certain marketing strategies need to be

developed, considering relevant and comprehensive information from within and outside the business, which should be checked regularly and updated when necessary.

Marketing objectives must also be set and they must be precise and quantified to show the life span for which they are to be achieved. They should be attainable, realistic and should moderate the business, serving as its basis for planning and decision making.

 These objectives should depend on the needs and wants of its prospective and potential customers. Marketing strategies to be followed are:

·        Confirming Corporate Objectives

·        Writing Marketing Objectives   

·        Selecting Strategic Business Units

·        Constructing a Strategic Marketing Mix.

·        Implementing, Controlling and Organising Marketing Strategy.

1.2   OBJECTIVES OF THE STUDY

This project work is written to;

1. To examine if the promotional strategies used by the hotel lead to increase in customer awareness.
2. To determine if the quality of services rendered by the hotel will lead to a bright future for the company.
3. Ensure effective marketing strategy is developed and followed in hotels.

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