MGBBT1TMP Tourism Marketing Principles Assignment Sample

Introduction OfTourism Marketing Principles

Slide 1: What is Marketing Mix?

• The marketing mix includes the framework of business to develop a marketing strategy(HRand Aithal, 2020).
• This analysis can be of two types’ the 4P marketing mix and the 7P marketing mix.
• This strategic implementation develops the purchase intention of customers.

The marketing mix considers a framework of the overall business process and focuses on developing the marketing strategy to continue the expansion of the business process. This strategy implementation involves identifying issues and developing effective solutions to mitigate issues of the organisation. This analysis can consider two different types such as 4P and 7P marketing mix and as per business type, managers analyse business activities to develop strategies. The strategic implementation considers developing the quality and effectiveness of business activities to influence the purchasing behaviour of customers in the organisation.

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Slide 2: What are The Elements or 4Ps of the Marketing Mix?

• Product, price, place and promotion are the four factors of the 4P marketing mix (HRand Aithal, 2020).
• Evaluation of customer requirements with products and prices can be analysed.
• The organisation can identify the proper position and promotional activities requirements.

The marketing mix is segmented into two different types and the 4P marketing mix is one of those two. This marketing mix analysis considers four different factors such as product, price, place and promotion. This involves identifying the advantages and disadvantages of these four factors of the organisation. Through evaluating four factors, the organisation can understand the requirements of strategyimplementation to influence customer attraction and develop sales and revenue of the organisation. Product and price analysis can show the advantages and disadvantages of these two factors and can under the requirements and satisfaction of customers. In addition, position and promotional analysis show the requirements of business expansion to capture a large market in the business process.

Slide 3: Airbnb Marketing Channels

• Airbnb is a US-based hospitality industry and also expanding its business in different countries such as the UK.
• This considers peer-to-peer software platforms to expand the business market (Morales-Pérezet al.2022)
• Considers new marketing channels such as Booking.com ((Morales-Pérezet al.2022))
• Includes multi-level perspective and multichannel distribution to influence the business market (Giannoniet al.2021)

Airbnb is an us-based organisation that expands the hospitality business market in different countries such as the UK. This organisation considers rental-marketing channels to promote the commercialisation sectors of this business. This company also considers adds-based promotional activities in aspects of continued marketing channels. This organisation includes peer-to-peer software platforms for diverse business markets in larger areas. This company considers marketing channels such as Booking.com to increase the sales and revenue of the organisation. The multi-level perspective (MLP) considers communications between P2P and accommodation sector providers to influence the business market. Multichannel distribution is another effective strategy that considers the physical reservation process, real-time channels, electronic channels and activities of online travel agencies to collect large customer zones and develop sales and revenue of the organisation.

Slide 4: Features of production

• Upgrades occur in business activities as Airbnb considers guest identity verification (News.airbnb.com, 2023)
• Innovation development considers increasing production activity
• Listing approx more than 220 countries and regions to expand the business market

This organisation considers a list of upgrades that influence business top-to-bottom protection. This business considers guest identity verification to continue authenticity and privacy in the business process. The hacking and other issues can mitigate by continuing this activity during the online booking process. This feature considers for every reservation verification process in 2023 in the entire world. The innovation development also supports increasing quality and customer purchase attraction. In addition, these listings involve more than 220 countries and regions and make available products, and services in these locations to expand the business market.

Slide 5: Nature of market

• Rental activity through collaboration with different organisations and owners
• The peer-to-peer market strategy involves connecting people and delivering products and services to the people (Morales-Pérezet al.2022).
• Both offline and online booking availability is present to satisfy customers with the booking and payment process.

This organisation follows a peer-to-peer marketing strategy to complete connections with people within a larger area. The rental activity is a key consideration of this business to complete the sales and revenue process of this organisation. This collaborates with different clients, organisations and owners to collect hotels to deliver accommodation services to the customers. This includes online and offline marketing processes to develop availability and satisfy customers in their booking process.

Slide 6: The number and location of consumers

• A total of approx more than 4 million, 6 million hosts, and active listings respectively are available on Airbnb (News.airbnb.com, 2023).
• Available in more than 100000 cities in the world and approx 150 million users are available (News.airbnb.com, 2023)
• Average 1 billion bookings completed by customers (Searchlogistics.com, 2023)
• Listings of Airbnb in Europe, Asia Pacific, North America, South America and Africa were 4.84 million, 3.21 million, 2.55 million, 1.73 million and 367091 in 2021 (Searchlogistics.com, 2023).

Airbnb expands into a large area as expands its business in more than 100000 cities and continues business with having approx 150 million users. These users complete an average booking of approx 1billion every year.This organisation includes approx more than 4 million and 6 million hosts and active listings respectively to influence sales and revenue of the organisation. The listings of this business are available in different continents such as Europe, Asia-Pacific, North America, South America and Africa.

Slide 7: Stage of product life cycle

• Considers the process of decline, maturity and growth of business products over some time
• The five effective stages are development, decline, introduction, maturity and growth
• Airbnb considers spending time tounderstand customers' requirements and develop public awareness to increase demand(Giannoniet al.2021).

The product life cycle is a process that identifies the decline, maturity and growth of products and services of a business over some time. This includes five different effective stages such s development, decline, introduction, maturity and growth. By identifying these factors, the organisation can understand the quality processes and issues in the business process. Airbnb considers an investment of time to understand the requirements of consumers and development of public awareness through sharing effective approaches of this business.

Slide 8: Customer Buying Behaviour

• Approx 500000 organisations select Airbnb to continue the individual business processes(News.airbnb.com, 2023).
• The purchasing behaviour of customers depends on the physical environment of Airbnb accommodations (Nawiet al.2021)
• Most customers are involved in the online marketing process by completing a booking through online modes such as websites and social media platforms.

Customer buying behaviour is an important factor that varies the performance of the organisation. This organisation captures the interest of approx 500000 organisations to continue their business process. The purchasing behaviour of this business depends on the physical environment of the accommodations of Airbnb. The availability of the online marketing process attracts customers in completing booking activities and customer also wants to get available opportunities to complete the marketing process through online modes such as websites and social media platforms.

Slide 9: The competitive environment and competitor behaviour

• Considers commission-based web platform for travellers and room dividers
• The disruptiveinnovation of Airbnb attracts customers in booking accommodations for this business (Morales-Pérezet al.2022).
• Hosts of this business maintain the decoration, atmosphere and layout of accommodations in individual areas.
• Regulatory approaches such as laissez-faire and prohibition support continuing business activities with certain restrictions (Prayaget al.2022)

A list of competitors such as trip advisor, trip.com, Rakuten and Agoda considers similar business products and services. Airbnb considers a commission-based web platform approach for travellers and room dividers to develop the competitiveness of the organisation. The disruptive innovation in the accommodation and booking process attracts customers and the hosts of this business maintain the decoration, atmosphere and layout of accommodation in individual areas to attract customers. This organisation also includes regulatory approaches such as laissez-faire and prohibition to continue business activities with certain restrictions.

Slide 10: Globalization of marketing system

• Consider both B2B and B2C marketing processes to influence customer zones
• Focuses urban development activity along with the development of business
• Considering traditional holiday rentals approach to developing demand for Airbnb(Morales-Pérezet al.2022)
• Reservation screening technology supports decreasing the occurrence of disruptive parties(News.airbnb.com, 2023)

Airbnb considers both B2B and B2C marketing processes to develop its customer zones. Dealing with different organisations and stakeholders develops business processes. This introduced a $1 million host guarantee to attract partners in the n business process. This influences the business market and availability in different countries in the world. This also focuses on urban development activity along with h development of business processes and delivers an s positive impact on the socio-economic parameters of the cities. The traditional holiday rental approach supports the development demand for the products and services of Airbnb. In addition, reservation-screening technology involves decreasing the circumstances of disruptive parties in the organisation. Therefore, this delivers effective support in developing brand value, performance, customer zones and customer satisfaction in the organisation.

Reference

• Giannoni, S., Brunstein, D., Guéniot, F. and Jouve, J., 2021. Multichannel distribution strategy of Airbnb hosts. Annals of Tourism Research Empirical Insights, 2(1), p.100017. https://www.sciencedirect.com/science/article/pii/S2666957921000082
• HR, G. and Aithal, P.S., 2020. Establishing True Lifestyle Brand in India: An Integrated Marketing Mix Framework. International Journal of Management, Technology, and Social Sciences (IJMTS),(June 2020), 5(1), pp.261-284. https://www.researchgate.net/profile/Ganesha-H-R/publication/342329090_Establishing_True_Lifestyle_Brand_in_India_An_Integrated_Marketing_Mix_Framework/links/61ce87d5da5d105e550bf504/Establishing-True-Lifestyle-Brand-in-India-An-Integrated-Marketing-Mix-Framework.pdf
• Morales-Pérez, S., Garay-Tamajón, L. and Troyano-Gontá, X., 2022. Beyond the big touristic city: nature and distribution of Airbnb in regional destinations in Catalonia (Spain). Current Issues in Tourism, 25(20), pp.3381-3394. DOI: https://doi.org/10.1080/13683500.2020.1780201
• Nawi, N.M.M., Hashim, N.A.A.N., Yusoff, A.M., Razali, N.A.M., Yusoff, N.D.M., Mukharan, N. and Mashuri, M.A., 2021. Airbnb Physical Environment Attributes and Customer Behavioural Intention. Insights into Economics and Management Vol. 7, pp.15-22. http://myscholar.umk.edu.my/bitstream/123456789/3013/2/Ebook%20Insights%20into%20Economics%20and%20Management%20Vol.%207.pdf#page=24
• News.airbnb.com, 2023. About Us Available at: https://news.airbnb.com/en-uk/about-us/ [Accessed on: 17/04/2023]
• News.airbnb.com, 2023. The 2022 Winter Release: Introducing Airbnb Setup, the all-new easy way ... Available at: https://news.airbnb.com/2022-winter-release/#:~:text=Today%2C%20we're%20making%20major,verification%20worldwide%20in%20Spring%202023. [Accessed on: 17/04/2023]
• Prayag, G., Ozanne, L.K., Martin-Neuninger, R. and Fieger, P., 2022. Integrating MLP and ‘after ANT’to understand perceptions and responses of regime actors to Airbnb. Current Issues in Tourism, 25(19), pp.3150-3167. DOI: https://doi.org/10.1080/13683500.2020.1768226
• Searchlogistics.com, 2023. AIRBNB STATISTICS [2023]: USER & MARKET GROWTH DATA Available at: https://www.searchlogistics.com/learn/statistics/airbnb-statistics/ [Accessed on: 17/04/2023]