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. For example: college students have desire for technology products, affordable vehicle etc. 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 duplex rooms, four three bedrooms apartments and duplex cottage for more than four people. It shows that they are focusing on customer group who are backpackers and solo travellers, couples, family and foreign tourists. There are also Aqua Parks of AF Hotel with swimming pools, entertainment centre, playground and sports facilities such as football, volleyball, basketball and tennis court which aims to attract children and adults. Their 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 people because they are the one who want to visit and explore new places and get convinced to spend money on vacations which helps respective company to earn profit and grow their market shares (Morgan, Katsikeas and Vorhies, 2012). These people effectively and easily do word of mouth promotion if they like and get impressed with the services of visited hotel and place.
Marketing mix of AF Hotels and Aqua Park
4 P's of marketing that are product, price, place and promotion. It is important for an organisation to select appropriate marketing mix because sometimes, products get failed in market due to wrong selection of same (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 Park is mentioned as below:
Products-A product can be tangible or intangible which fulfils the needs and wants of specific or target customers. It 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 offered by AF Hotel and Aqua Park are single and double duplex rooms, three four bedroom apartments, duplex cottage for more than four people, swimming pool, entertainment centres, playground, sports facilities, restaurant and bar, spa and wellness, conferences hall and so on.
Price-Price is an amount which is expected to be paid by the end user and it directly affects the sale of products and services. Price gets affected by distribution plan, value chain costs and mark-ups as well as competitor’s 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, 2019).
Placement-It refers to the placement strategy of a company so that products and services can reach at target customers easily and attract them to pay for it. By this, management of an organisation identifies the channel and place which is suitable to disclose their products and services (Kumar and Rajan, 2012). The AF Hotel and Aqua Park is based on special place in Caucasus which is popular and known place for local and foreign tourists. Its complex is located on Caspian Sea that is known for healing mineral salts which is famous and attract a large number of tourists. The location of respective hotel is very attractive and peaceful which attracts more customers and visitors.The hotel can hire appropriate employees and conduct operational functions according to requirements which helps in smooth functioning of operations.
Promotion-It includes advertisements, sales, promotions, special offers and public relations. So, 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 uses various methods 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, YouTube videos and hotel’s website so that they will attract more customers and become able to reach audience at large which leads to growth and profit of firm.
From the above report, it can be concluded that a hotel must design appropriate marketing strategies so that they can 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 which they have selected appropriate strategies related to product, price, placement and promotion.
Baker, M.J., 2014. 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. Journal of the Academy of Marketing Science. 40(2). pp.271-289.
Fifield, P., 2012. Marketing strategy. Routledge.
Kumar, V. and Rajan, B., 2012. Social coupons as a marketing strategy: a multifaceted perspective. Journal of the Academy of Marketing Science. 40(1). pp.120-136.
In the modern world, marketing play an important role for any organisation to achieve competitive advantages. It consists several market study for analysing and understanding the market trends, fashions, customers choices, preferences, demands, maintain goodwill, build effective...ReadMore
Marketing is an importnat activity by which association introduce product and services in the market. In the absence of effective marketing practices, firm cannot push its thing into the market. Further, marketing helps to venture in earning profitability by attract large numbers of...ReadMore
Marketing can be termed as one of the crucial tools in the modern business. The understanding of the Marketplace in the month of the consumers and different marketing strategy has helped in profitable relation with quality among the customers. In this study, Cadbury is taken as one of...ReadMore