Marketing strategy refers to the business plan of an organization that provides outline or guidelines of overall activities plan which helps in finding clients, investors and customers for business plan (Baker, 2014). Its major focus is on what a company wants to achieve for business and their efforts for marketing and promotion. This report is based on AF Hotel and Aqua Park which is a well-known four star hotel and aqua park in Azerbaijin. It provides a variety of services to their customers like accommodation, restaurant and bar, entertainment, spa and wellness, conference hall, etc. Topics that will be covered in this report are target market strategy and marketing mix of company.
Target market strategy of AF Hotel and Aqua Park
Target market refers to a particular group of people who like to buy or consume a company's products and services and this group has common product needs.Â ForÂ example:Â college studentsÂ have desire for technology products, affordable vehicle etc.Â When a company decide their target market they design target market strategy which include certain factors such as how to promote products and services, communicate and reach group and so on.
The AF Hotel is providing single and duplexÂ rooms, four three bedrooms apartmentsÂ and duplexÂ cottage for more thanÂ four people.Â ItÂ shows that they are focusingÂ onÂ customerÂ group who are backpackers and solo travellers, couples, family and foreign tourists. There areÂ also Aqua ParksÂ of AF Hotel with swimming pools, entertainment centre, playgroundÂ and sports facilities such as football, volleyball, basketball and tennis court which aimsÂ to attractÂ children and adults. TheirÂ main focus on the basis of income is on high income and middle income group who want to spend their vacation in luxury place and hotel.
The AF Hotel and Aqua Park is focusing on respective group of customers or peopleÂ because they are the one who want to visit and explore new places and getÂ convincedÂ to spend money on vacationsÂ which helpsÂ respective company to earn profit and grow their marketÂ shares (Morgan, Katsikeas and Vorhies, 2012). TheseÂ people effectively and easily do wordÂ of mouth promotionÂ if they like and get impressedÂ with the services of visitedÂ hotel and place.
Also Read:Â Unit 3 Develop organisational marketing objectives Level 5 CBC College
Marketing mix of AF Hotels and Aqua ParkÂ
Â 4 P's of marketing that are product, price, placeÂ andÂ promotion. It is important for an organisation to select appropriate marketing mix because sometimes,Â products get failedÂ in market due to wrong selection of sameÂ (Fifield, 2012). The AF Hotel and Aqua Park uses marketing mix to select set of actions or tactics which they can use to promote its brand or products and services in the target market. The marketing mix of respective Hotel and Aqua ParkÂ is mentioned as below:
- Products-A product can be tangible or intangible which fulfilsÂ the needs and wants of specific or target customers. ItÂ is the responsibility of organisation to always come-up with new and unique ideas of products that attract and convince target customers to buy it. The products and services offeredÂ by AF Hotel and Aqua Park are single and double duplex rooms, three four bedroom apartments, duplex cottage for more thanÂ four people, swimming pool, entertainment centres, playground, sports facilities, restaurant and bar, spa and wellness, conferences hall and so on.
- Price-Price is anÂ amount which is expected to be paid by the end user and it directly affectsÂ the sale of products and services. PriceÂ getsÂ affected by distribution plan, value chain costs and mark-ups as well as competitorâs price of rival products. The price of products and services of AF Hotel and Aqua Park are based on their customer lifestyle and financial status. Pricing strategy used by AF Hotel and Aqua Park is Premium pricing in which they set cost of products and services higher then their competitors and to make value for money they improve and develop quality of their products and services for their customers (Pricing at a Premium,Â 2019).
- Placement-It refers to the placement strategy of a company so that productsÂ and services can reach at target customers easily and attract them to pay for it. By this,Â management of an organisation identifiesÂ the channel and place which is suitable to disclose their products and servicesÂ (Kumar and Rajan, 2012). The AF Hotel and Aqua Park is based on special place in Caucasus which is popular and knownÂ place for local and foreign tourists. Its complex is located on Caspian SeaÂ that isÂ known for healing mineral salts which is famous and attract a large number of tourists. The location of respective hotel is very attractive and peacefulÂ which attractsÂ more customers and visitors.Â The hotel can hireÂ appropriate employees and conduct operational functionsÂ according to requirements which helpsÂ in smooth functioning of operations.
- Promotion-It includesÂ advertisements, sales, promotions, special offers and public relations. So,Â it is necessary for an organisation to select appropriate promotional strategies to communicate with their target audience and customers (Lusch and Vargo, 2014). The respective hotel usesÂ various methodsÂ to do their promotions such as television commercial, hotel websites, face-book pages, Appropriate strategies of promotion for AF Hotel and Aqua Park can be social media advertisements, television promotions, twitters channels, YouTubeÂ videosÂ and hotelâsÂ website so that they will attract more customers andÂ becomeÂ able to reach audienceÂ at largeÂ which leads to growth and profit of firm.
From the above report,Â it can be concludedÂ that a hotel must design appropriate marketing strategies so that they canÂ focus on right audience or customers at the right market place for which they should design strategies according to targeted market. Further, it has been assessed that hotel performs marketing mix in whichÂ they have selectedÂ appropriateÂ strategies related to product, price, placement and promotion.
You may also like :
- Baker, M.J., 2014.Â Marketing strategy and management. Macmillan International Higher Education.
- Morgan, N.A., Katsikeas, C.S. and Vorhies, D.W., 2012. Export marketing strategy implementation, export marketing capabilities, and export venture performance.Â Journal of the Academy of Marketing Science. 40(2). pp.271-289.
- Fifield, P., 2012.Â Marketing strategy. Routledge.
- Kumar, V. and Rajan, B., 2012. Social coupons as a marketing strategy: a multifaceted perspective.Â Journal of the Academy of Marketing Science. 40(1). pp.120-136.
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