Impact Of Promotional Strategy In The Hotel Industry

IMPACT OF PROMOTIONAL STRATEGY IN THE HOTEL INDUSTRY

INTRODUCTION

1.0

This chapter is intended to discuss certain vital element in marketing known as the “marketing communication mix”. The purpose of the study will be discussed. Attempts will be made to identify problems of the organization (i.e. Kwara Hotel), upon which hypothesis will be formulated to be analyzed in later chapters. The aims, objectives and significance of the study will also be discussed, and a brief historical background of the organization.

Promotion is marketing involves the designa dn communication of information about the existence, the nature and the usefulness of a business organization and or its product or service to a given market audience or the society at large. Through promotional activities an organization seeks to inform its existing and potential customers of the desirable elements or special attraction of its

product. Since the large of the selling organization is intricately interwoven with its products, additionally, a business organization through promotion creates for itself the desirable impression in the minds of its customers and its community. Buyers patronize products or services because of their believes in the qualities of the product as well as, having confidence in the ability or the firm to make reliable and functional product or services.

As an economy shifted from of the relative scarcity to one comparative abundance as both the number of consumer and the number of producers grew, moreso, completion for consumer’s money intensified, a need emerged for planned, controlled marketing communications.

Over the years, the transmission of information about products to potential buyers in a manner designed to prompt positive action has grown increasingly sophisticated. We (marketers) have developed good ways to communicate. We have learned to identify and segment market. We have made intensive studies of motivation and buyers psychology or consumers behaviour. We have home to rely increasingly on marketing research as opposed to

hunches. And we have come to depend on planned communications to arouse attention, stimulate interest, generate desire and motivate action. Most firm on longer operates on the principles that all you need is a “good product” sell itself. Modern marketing therefore,e calls for more than developing a good product, pricing it attractively and making it available to target customers.

Organization or marketing organization manages a complex marketing communication system. The organization communicates with its middle men, customers and public. To communicate well, organization wires advertising agencies to develop effective, sales promotions specialist to design sales incentive programmes, and public relation firm to develop their corporate image. They train their sales people to friendly helpful and persuasive. For many organizations, the question is not whether to communicate, but know how much to spend on communication and in what ways.

The goals of specific communication and in what ways may include selling more of products to existing customers, selling the product during off seasons, increasing sales by promotion new uses

for the product and so on. While, some firms have money than others to spend for promotion, on firm has unlimited resources.

Therefore, each company must determine for itself which of those goals are most important and how much it can afford to spend to reach them.

ABSTRACT

This project, work is intended to deal with the application of promotional strategy to marketing and its contributions to achievement of organization goals with particular focus on the Nigerian hotel industry (wing Kwara hotel as a case study).

Attempts will be made to discuss certain vital elements in marketing known as the “marketing communication mix” or the “promotion mix”. The purpose of the study will be discussed.

Attempts wil be made to identify problems of the organization (i.e.

Kwara hotel) upon which hypothesis will be formulated to be analyzed and interpretation to the hypothesis and data will be stated in clear terms. The aims, objective and significance of the study will also be discussed, and a brief historical background of the organization.

Furthermore, conclusion and recommendation will be put forward in order in develop a more standard way of enlightening the public the more.

Promotion is a coordination of all seller initiated efforts to set up channel of persuasion and communication in order to facilitate a sale of the product or the acceptance of an idea. An effective promotion should arouse attention, stimulate interests, generate desire and motivate action of consumers and potential consumer in a product or brand. It persuade people and finally sells the product.

Marketing calls for more than developing a good product, packaging the product, pricing it attractively and making it readily to the consumers. The company must design and disseminate information about the product existence, features and terms and how this will disseminating information to the target customers. It must communicate effectively with other parties in the task environment for example dealers or suppliers and also with major external publics for example the stock holders or the financial comities and with internal public e.g. management, directors, sales force and the employees.

To communicate well, organizations involve themselves in advertising, sales promotion, personal selling and publics. For many organizations, the question is not whether to communicate, using any of the above tools, but how much to spend and in which of the tools above.

A study of promotion is relevant to different type of organization. Promotional activities are undertaken by commercial enterprises, trade association’s educational institutions, government bodies, charitable organizations, political parties and many others.

While some firms have money than other for promotion, spending, no firm including Kwara hotel has unlimited resources.

Therefore, they most determine for themselves which of these goals are much important and how much it can afford to spend to reach them. However, after completion of their research project, the organization of Kwara hotel is expected to benefit from it in great measure.

EDITOR SOURCE: Impact Of Promotional Strategy In The Hotel Industry