Hospitality Marketing Of Lakeview Paradise-Free-Samples for Students

Question: Discuss about the Tourism and Hospitality Marketing Of Lakeview Paradise. Answer: Introduction Tourism and hospitality industry is rapidly evolving in the new era of technology and technological integration. In todays era, the industry seems to be going through a period of transition despite forecasts showing economic obscurity (Kim et al., 2015). Apart from that, people around the globe have displayed increased inclination towards traveling. According to many reports, tourism industry in todays world is the considered the fastest growing industry. It is therefore common that products and services associated with the industry are employing advanced marketing techniques. The essay provides a detailed overview of the marketing concept in terms of tourism and hospitality industry. Then, it will provide an overview of the organization chosen for the purpose, which is Lakeview Paradise in Queenstown, New Zealand. The essay will further give details about the ways to market the services of the organization. It will then explain the factors that affect marketing in this industry and the factors explaining marketing strategy. Marketing concept within tourism and hospitality industry As mentioned already, tourism and hospitality industry have rapidly evolved due to the advance in technology and technological integration (Hopkins, 2015). Therefore, the concept of marketing that was previously confined to industries like fashion and so on has penetrated into the tourism industry as well. Marketing within this industry provides unique challenges to the marketers, as they are required to sell services instead of goods. It is well-known to marketing experts that selling goods and selling services and memories have a huge demarcation. Kandampully, Zhang and Bilgihan (2015) explain the concept of marketing within this industry by stating that hospitality involves selling of both intangible and tangible services. Strategies for marketing the tangible services are easier but preparing strategies for selling intangible services involve thorough and extensive research. Lakeview Paradise, the holiday home, situates itself in Queenstown, New Zealand. It provides a garden and a terrace. The holiday home also provides free Wi-Fi. Lakeview has its name from the fact that visitors could have a direct view of the nearby lake and mountain from the terrace. This stand-alone holiday home provides five bedrooms with two living areas and two bathrooms. In addition, the holiday home has a fully equipped kitchen, washing machine and free toiletries for the guests. Overview of the organization Lakeview Paradise is located in close proximity to the Skyline Gondola and Luge at only 2.9 kilometers in distance. It has good transportations facility as well with Queenstown Airport being only nine kilometers away. It ranks amongst the best places to visit in New Zealand. The products and services offered by Lakeview Paradise have already been partially mentioned in the previous section. Apart from that, the holiday home has barbeque facilities and laundry services as well. The holiday home has not been marketed properly and hence very few tourists know about it. The unique selling point of Lakeview Paradise is however, the ultimate serenity it offers to the residents. In addition, the holiday home has the advantage of being located in an area that has close proximity to historical places of New Zealand especially Lake Wakatipu. Marketing of the services In order to provide a good marketing to Lakeview, it is important to understand first, the demographics and the target market (Weaver, 2015). New Zealand is closest to Australia that shelters one of the best resorts and hotels in the world and hence it hosts innumerable tourists from around the world. Targeting this market initially would be a better strategy for Lakeview to commence. The first thing that has to be done to market the USP of Lakeview is to promote it through advertisements in print and broadcast media. However, that would require the management to invest heavily. In this case, the management should utilize the social media effectively. A Facebook page dedicated entirely to Lakeview should be opened where images and videos showing the Wakatipu Lake and the nearby mountains could be posted. As the second step, Lakeview should make use of its proximity to Skyline Gondola by collaborating with it in dual promotion. The customers visiting the restaurant can be distributed ad pamphlets of Lakeview Paradise at the restaurant. Factors affecting marketing The marketing strategy cannot succeed without analyzing the marketing environment. In order to make the strategy work better, PEST analysis would serve as a good technique. PESTLE political, economic, social and technological provides an overall analysis of the external environment that might affect a company or an organization. Political factor New Zealand does not have strict regulatory rules that could hinder any business and hence, it would not cause any hindrance to the promotion of Lakeview Paradise (Sun, Zhang Ryan, 2015). Economic In terms of economy, New Zealand is heavily dependent on trading relations with other countries. This makes the countrys economy weaker in comparison to the neighboring countries (Peters, Hamilton Eames, 2015). This might prove a hindrance to the marketing of Lakeview Paradise, as it would require a strong financial support. Social New Zealand is home to a variety of culture and this proves both a hindrance and opportunity for the tourism and hospitality industry (Nzherald.co.nz, 2018). The constant but subtle conflict between the mainstream New Zealanders and the Indigenous people often causes loss to businesses. Technological The increase in the use of technology by tourists around the world make it possible for hotels and holiday homes to expand their business (Leung, Bai Stahura, 2015). Factors explaining marketing strategy In their book titled Marketing for Hospitality and Tourism, Kotler et al. (2016) explain the need for marketing in tourism and hospitality. The authors highlight the various factors that work together to produce a solid marketing plan for the concerned industry. They mention that each hospitality department plays a crucial role in promoting the company. Prior to preparing the marketing strategy, it is important to analyze the consumer behavior. Consumer behavior refers to the buying behavior of consumers involving decisions before and after buying the service, activities and so on (Cohen, Prayag Moital, 2014). Management of Lakeview Paradise must understand the changing needs of consumers in the modern world. Marketing campaign is a factor that might influence or help the consumer buys the service of Lakeview Paradise. Advertisement plays an important role in influencing the buying behavior of the consumer. Economic condition is another factor on which the buying decision of consumer depends. A consumer makes buying decision based on the limit of his or her budget and the economic environment of the concerned country. Consumers personal preferences also influence their buying decision. The morals, values, likes, dislikes and priorities define the buying decision of consumers. In case of Lakeview Paradise, the management can target the local New Zealanders initially as they would know the buying decisions of the people. As Kotler et al. (2016) mention, the marketing strategy must be customer-driven creating value for the customer. The purchasing capacity of consumers also plays an important role in influencing the buying decision. Consumers generally evaluate their purchasing power prior to the buying decision (Kandampully, Zhang Bilgihan, 2015). Utilizing the power of social media as a tool for marketing strategy will help Lakeview Paradise in assisting the consumers buying behavior. Kotler et al. (2016) in their book have mentioned the importance of managing customer information in order to achieve customer insights. In the contemporary age, collecting customer information has become easier for companies as the social media has emerged rapidly in recent years. Knowledge management is the term that is used to explain this phenomenon (Orchiston Higham, 2016). With the integration of technology, consumers now have the power to choose the services of their choice through one click in their smart phones. Business too have benefitted greatly from this (Schuckert, Liu Law, 2015). Lakeview Paradise can utilize this opportunity by advertising in social media or by creating a personal app for the consumers to view and interact with the management for a better experience. Conclusion It thus can be stated that marketing in the tourism and hospitality industry has evolved remarkably over the past few decades. The tangible and intangible services and products offered by the industry are now marketed through proper channels. Previously, the tourism and hospitality industry had limited scope in terms of attracting consumers through proper marketing but now the scenario has changed. With the use of modern technologies like mobile applications and social media platforms, hotels, resorts, holiday homes and other such tourism and hospitality companies connect with possible consumers directly. The essay provided a detailed analysis of the concept of marketing within the said industry. Lakeview Paradise, Queenstown, a holiday home in New Zealand was chosen for explaining marketing concept in the hospitality and tourism industry. The essay presented an external environmental analysis of the chosen company as factors that may help or hinder the marketing strategy. Consumer b ehavior was also explained to provide an understanding of the factors that assist buyer decision in buying the services References: Cohen, S. A., Prayag, G., Moital, M. (2014). Consumer behaviour in tourism: Concepts, influences and opportunities.Current Issues in Tourism,17(10), 872-909. Hopkins, D. (2015). 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