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Importance of marketing and promotion in resort business

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Importance of marketing and promotion in resort business

  1. 1. IMPORTANCE OF MARKETING AND PROMOTION IN RESORT BUSINESS
  2. 2. MARKETING Marketing refers to the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity and general media exposure. endorsement PROMOTION Promotions refer to the entire set of activities, which communicate the product, brand or service to the user. The idea is to make people aware, attract and induce to buy the product, in preference over others it include advertising, press releases, consumer promotions (schemes, discounts, contests), while below the line include trade discounts, freebies, incentive trips, awards and so on. Sales promotion is a part of the overall promotion effort.
  3. 3. TYPE OF MARKETING 1. Internet Marketing Internet marketing is any marketing strategy that takes place online. Also referred to as online marketing, it encompasses a variety of marketing forms like video advertisements, search engine marketing and e-mail marketing 2.Offline Marketing Offline marketing, the opposite of online marketing, includes all forms of marketing that aren’t done on the Internet 3.Direct Marketing Direct marketing’s main goal is to send a message directly to consumers, without having to use any third party outlets. Examples of direct marketing include mail marketing, telemarketing and direct selling 4. Promotional Marketing Promotional marketing is a common form of marketing strategy that companies use to motivate a consumer to make a decision and purchase their product . , including holding contests to win a prize, offering coupons for purchasing a product at a discount,
  4. 4. 5. Paid advertising This includes multiple approaches for marketing. It includes traditional approaches like TVCs and print media advertising. 6. Cause marketing Cause marketing links the services and products of a company to a social cause or issue. It is also well known as cause related marketing. 7. Relationship marketing This type of marketing is basically focused on customer building. Enhancing existing relationships with customers and improving customer loyalty. 8. Undercover marketing This type of marketing strategy focuses on marketing the product while customers remain unaware of the marketing strategy. It is also known as stealth marketing. 9.. Word of mouth It totally relies on what impression you leave on people. It is traditionally the most important type of marketing strategy. Being heard is important in business world. When you give quality services to customers, it is likely that they’d promote you.
  5. 5. TYPE OF PROMOTION 1.Word of Mouth 2. Digital Marketing 3. Sampling 4. Advertising: 4.Personal selling ; : A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation Sales promotion ; Media and non-media marketing communication are 5.employed for a pre-determined, limited time to increase consumer demand stimulate market demand or improve product availability. 6.Public relations: Paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media. Examples: Newspaper and magazine articles/reports, TVs and radio presentations, charitable contributions, speeches, issue advertising, and seminars.
  6. 6. 7.Direct Marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer, with advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising
  7. 7. IMPORTANCE OF MARKETING AND PROMOTION IN RESORT MANAGEMENT 1) Increasing brand awareness – Promotions help in creating brand awareness. With the help of various media like the television, billboards, radio or local newspaper news, you can spread across information about your brand and company, which helps people to find out more about you and look into your products and make purchases.
  8. 8. 2) Increasing customer traffic – Also, promotion helps in helps in increasing customer traffic. The more you promote your brand, the more will the customers know about you and your company and the more will they be interested in your products. Promotion can be done even by giving out free samples which works wonders for customers! They try your product and ultimately, come to you and make purchases. 3.Understanding Your Clients Promotional and marketing strategies can also assist your business in understanding and connecting with clients and customers. If your marketing plan is loosely structured, you might not have much success at targeting products to the "right" demographics. Having a solid and well-thought-out marketing plan can help you identify gaps in the marketplace and provide feasible solutions for your clients.
  9. 9. 4.Developing Financial Goals Promotional and marketing strategies are also important for guiding your business into the development of financial goals. Financial goals are two-fold: They are related to your sales targets and also to your expenses budget. Sales targets are initially set as part of the marketing plan but might change over time according to changing market conditions, increases in product price, or increases or decreases in consumer demand. Monitoring expenses is also part of financial goal development 5.Strategic Planning Another important aspect of promotional and marketing strategies involves strategic planning. Strategic planning is a concept that encompasses marketing, promotion, sales, and financial goals and is essentially about developing goals for your business. Having a strategic plan for your business means having plans in place to deal with both expected and unexpected situations
  10. 10. 6.Higher Sales Once your product, service or company gets on the radar screen of your prospects, it increases your chances that consumers will make a purchase. As awareness becomes a reality, it is also the point where new customers start to spread the word, telling friends and family about this amazing new product they discovered. Your sales will steadily increase as the word spreads. Without employing marketing strategies, these sales may not have ever happened; without sales, a company cannot succeed 7.Healthy Competition Marketing also fosters an environment in the marketplace for healthy completion. Marketing efforts get the word out on pricing of products and services, which not only reaches the intended consumers, but also reaches other companies competing for the consumers’ business
  11. 11. KUMARAKAM LAKE RESORT
  12. 12. FECILITY OFFERED BY THE RESORT 1. HIGH CLASS ROOMS 2. Ettukettu, the Specialty Restaurant 3.Ayurveda, Ayurmana 4.Yoga & Meditation 5.Conference Room MARKETING STRATERGY 1..Destination Weddings at Kumarakom Lake Resort 2.Special Offers 3.LAST MINUTE DEAL, Book within 7 days and get 10% discount on Best Available Rate. 4. FLASH SALE, BOOK EARLY AND SAVE, Book 14 days in advance and enjoy an exclusive 15% discount on our best available rates, 5. HONEYMOON, Hideaways @ Kerala - Holiday Packages,
  13. 13. PROMOTIONAL STRATERGY .It is the only resort in the Kerala where prince Charles where accommodated during the visit on Kerala and he celebrated his 65 th .birthday in the hotel .It is the only hotel that featured in the BBC news as on of the most luxurious holiday destination in the world

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