Tourism Marketing Principles Assignment Sample

Introduction Of Tourism Marketing Principles

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This business report examines the practical components of the actual business environment, with a focus on tourism marketing. The report hasspecified hospitality and tourism companies as "Holiday Inn." This report will concentrate on the present condition of tourism, identify major trends and problems facing the sector, and offer practical suggestions for companies looking to enhance their marketing approaches and draw more customers.

Main Body

Company Background

A well-known hospitality and travel business with operations in more than 100 nations, Holiday Inn is based in the UK. Kemmons Wilson founded the business in 1952, and in 1953 it started franchising (George, 2021). Since then,InterContinental Hotels Group (IHG) purchased it in 1988, it has grown to become one of the most well-known hospitality chainsystems, with more than 1,100 resorts and hotels located around the world.

The company's reputation as a leader in the hospitality and tourism industries, as well as its strong financial performance and commitment to sustainability, were all factors in selecting Holiday Inn as the subject of this report. Holiday Inn has over 100 hotels in the United Kingdom alone, offering a variety of accommodations to suit a variety of budgets and needs. The hotel is well-known for its excellent service, spacious accommodations, and convenient location, which make it a popular option for travelers for both business and pleasure (Sofronov, 2019). The company generated $1.8 billion in revenue in 2020, with an average daily rate of £75.84 and a rate of occupancy of 59.2% (George, 2021). Furthermore, the company has been recognized for its environmentally conscious commitment, with over 80% of its hotels establishing environmentally friendly programs to reduce their carbon footprint (treimikieneandKorneeva,2020). This report, by analyzing the company's historical operations, production, and departmental insights, can provide valuable insights and recommendations for future decision-making processes, assisting in the optimization of business functions and driving growth (George, 2021).

External Analysis of Holiday Inn's Marketing Principles

• Customers Identification and Needs Analysis

Holiday Inn caters to a diverse customer base, including vacationers and executives. By offering these customers accommodations of the highest caliber, in ideal locations, and with first-rate service, the business hopes to satisfy their requirements as well as their tastes (Sabah, 2019). Holiday Inn provides leisure travelers with amenities like swimming pools, sporting facilities, and kids' programs. These amenities are made to appeal to families traveling with kids who want to have a fun and relaxing time away (Beirman, 2020). Holiday Inn offers high-speed internet access, conference rooms for meetings, and other commercial amenities for travelers on business. These services are intended to satisfy the demands of business clients who demand a relaxing and effective workplace (Jobber and Ellis-Chadwick, 2019). The organization has also adopted several initiatives to address the trend of increasing demand for environmentally friendly and sustainable travel (Sabah, 2019). These consist of products that are environmentally friendly, recycling initiatives, and ecologically friendly construction.

Figure 1: Tourism industry market graph of the UK in recent years

• b) Competitive Analysis of Holiday Inn

Opportunities & Threats Analysis Model

Opportunities:

• Increasing one's reach into new markets and geographical areas.
• Creating fresh, cutting-edge amenities and services (Streimikiene and Korneeva, 2020).
• Growing use of online and mobile booking platforms.
• Growing preference for sustainable and environmentally conscious travel (Pirnar, 2019).

Threats:

• Financial crises and modifications to consumers' spending patterns (Streimikiene and Korneeva, 2020).
• The threat of terrorism and instability in politics have an impact on tourism and travel.
• The emergence of new competitors and innovative technologies (Lytovchenko and Kharenko, 2019).
• An increase in government intervention and regulations.

"PESTLE" Analysis Model

Political:

• Political turmoil and unpredictability can have an impact on travel in some areas (Page and Connell, 2020).
• The industry may be impacted by modifications to governmental rules and regulations.

Economic:

• Economic and exchange rate movements can have an impact on travel and tourism.
• According to Srensen et al. (2020), inflation and increasing expenses can affect how much services cost.

Social:

• The demand for specific types of tourism can be impacted by changes in social patterns and preferences (Peceny et al. 2019).
• A stronger focus on environmental responsibility and sustainable practices.

Technological:

• According to Lytovchenko and Kharenko (2019), the development of new technologies and digital marketing tactics can open doors for growth.
• Customer trust and loyalty may be impacted by cybersecurity threats and data privacy issues.

Legal:

• The industry may be impacted by changes to laws and regulations governing travel and tourism.
• The business's credibility and financial performance may be impacted by legal disputes and obligations resulting from mishaps and injuries (George, 2021).

Environmental:

• Natural catastrophes and climate change may affect the company's activities and disrupt travel.
• A greater focus on environmental responsibility and sustainable practices (Weaver, 2022).

As a result, it is evident that Holiday Inn faces intense rivalry in the hospitality and tourism sectors, despite having a solid reputation, a significant global footprint, and a dedication to sustainability (Sabah, 2019). Additionally, Holiday Inn can position itself for future development and achievement by entering new markets, creating cutting-edge services and amenities, utilizing emerging technologies, implementing digital marketing strategies, and responding to potential hazards like downturns in the economy and political unrest. The company has also taken several initiatives to address the rising demand for sustainable and environmentally friendly travel (Dixit, 2020).

Internal Analysis of Holiday Inn’s Marketing Principles

Strengths & Weaknesses Analysis

Strengths:

• A well-known and respected brand in the hospitality sector (Sabah, 2019).
• Widespread presence with more than 4,000 real estates in over 100 nations.
• Ample amenities and services to cater to various customer segments' needs (Rahmani, 2019).
• Strong emphasis on eco-friendly practices and sustainability.
• A strong loyalty program that offers bonuses to loyal customers.

Weaknesses:

• Being reliant on outside variables like monetary and political stability.
• Limited ability to distinguish oneself from rivals in terms of amenities and services provided (Morrison, 2022).
• The company depends heavily on outside booking platforms for a sizeable portion of its income.
• Lack of capacity to customize amenities and services to meet the needs of specific customers (Sabah, 2019).

Porter's Five Forces Analysis Model

• New Entrants Threat: The tourism sector has few barriers to entry, which is a key factor in the entry of new competitors. However, Holiday Inn has a competitive advantage due to its well-known brand and widespread presence (Virolainen, 2021).
• Suppliers Bargaining Power: Holiday Inn has a significant say in negotiations with its suppliers because of the size and scope of its operations. However, it might have trouble finding trustworthy vendors of environmentally friendly and sustainable goods and services (Peceny et al. 2019).
• Buyers’ Bargaining Power: Due to customers havinglimited choices and being frequently constrained by factors like geographical closeness and accessibility, the ability of buyers to negotiate is relatively low in the hotel industry (Peceny et al. 2019). Customers today, are more selective and demanding than ever before, so businesses like Holiday Inn must keep raising the bar on the quality of their offerings.
• Substitutes Threat: Since customers have numerous lodging and transportation options, the threat of alternatives is relatively high in the hospitality industry (George, 2021). A prominent brand recognition and client retention program of Holiday Inn, however, can lessen this threat.
• Existing Competitors Rivalry: The travel and tourism industry's current rivals are fiercely competitive, with numerous corporations vying for supremacy in the market (Pirnar, 2019). However, Holiday Inn has a competitive advantage thanks to its well-known brand, widespread presence, and emphasis on sustainability and environmentally friendly practices.

Figure 2: Total contribution of the hospitality and tourism industry

As a result, it can be seen that Holiday Inn has several advantages that have contributed to its success in the hospitality sector. These advantages include its solid brand recognition and credibility, an extensive offering of amenities and services, and emphasis on environmental sustainability (Page and Connell, 2020). However, the business encounters issues like reliance on outside factors and limited differentiating itfrom rivals (Sabah, 2019). In addition, Holiday Inn can continue to serve its client’s needs and keep a competitive edge in the market by addressing these weaknesses and capitalizing on its strengths. Furthermore, the business can ensure its continued growth in the industry by recognizing and addressing the difficulties presented by the five forces identified by Porter.

Holiday Inn’s Ethical Business

In order to uphold its good name and show its dedication to ethical and sustainable business practices, Holiday Inn has implemented several ethical company policies. Holiday Inn has made an intense dedication to sustainability and environmentally friendly behavior, which is one of its main initiatives. Utilizing environmentally friendly resources and goods, promoting green transportation options, and reducing energy use and waste are just a few of the initiatives the company has put in place (Weaver, 2022). Also, Holiday Inn has put in place global ethical and social responsibility initiatives, which consist of rules and regulations for things like labor laws, environmental sustainability, and the protection of human rights.

Holiday Inn also prioritizes inclusiveness and diversity in its workforce, with an emphasis on fostering a culture of dignity and equality. The organization has put in place policies and initiatives to promote inclusive and diverse behavior, such as diversity education courses and employee resource groups (Morrison, 2022.). Holiday Inn has shown its devotion to accountability and transparency in terms of ethical behavior, with periodic updates on its environmental and social responsibility efforts. The company also places a high value on ethical leadership, with clear policies and guidelines in place for issues like conflicts of interest and measures to combat corruption (Lytovchenko and Kharenko, 2019). Holiday Inn, on the other hand, adopted a proactive approach to ethical business practices, emphasizing environmental responsibility, diversity and inclusion, and responsible corporate governance. This demonstrates how Holiday Inn has been able to uphold a positive reputation and create a competitive advantage in the industry through itsdedication to ethical and environmentally friendly operations.

Future Development of Holiday Inn

The Holiday Inn audit has brought to light several crucial areas that the company should take into account when making plans for upcoming development and marketing initiatives. Given that consumers are increasingly looking for accountable and environmentally conscious tourism options,one of the primary challenges raised is the need to continue prioritizing sustainability and environmentally friendly procedures (Sabah, 2019). The audit also highlighted the significance of improving customer experiences with a focus on customized and personalized services (Srensen et al. 2020). This can be accomplished by utilizing technology and forecasting consumer needs and behavior to deliver more focused and pertinent marketing messages.

The business should think about using a multi-channel strategy for marketing, which makes use of a variety of platforms as well as channels to connect with various target audience segments. This might involve social media, email marketing, partnerships with influencers, and targeted advertising campaigns (Nder et al. 2020). And finally, Holiday Inn's future marketing efforts should continue to place a high priority on ethical issues. This includes an emphasis on inclusiveness and diversity, transparency and responsibility, and ethical and environmentally friendly company conduct (Jobber and Ellis-Chadwick, 2019). According to the analysis, Holiday Inn can keep up its good reputation and competitive advantage in the hospitality sector by giving these issues the utmost priority

Conclusion

Based on the analysis it can be concluded that Holiday Inn has proven to be strongly committed to marketing principles that prefer environmental sustainability consumer satisfaction, and ethical principles. The organization can continue to improve its marketing efforts and keep its competitive edge in the tourism sector by using a multi-channel approach, technological advances, and data mining.

References

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