AN ASSESSMENT OF THE IMPACT OF PROMOTIONAL STRATEGY IN THE HOTEL INDUSTRY
|BANKING AND FINANCE|
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1.0 This chapter is intended to discuss certain vital element in marketing known as the “marketing communication mix”. The purpose of the study will be discussed. Attempts will be made to identify problems of the organization (i.e. Kwara Hotel), upon which hypothesis will be formulated to be analyzed in later chapters. The aims, objectives and significance of the study will also be discussed, and a brief historical background of the organization.
Promotion is marketing involves the design den communication of information about the existence, the nature and the usefulness of a business organization and or its product or service to a given market audience or the society at large.
Through promotional activities an organization seeks to inform its existing and potential customers of the desirable elements or special attraction of its product.
Since the large of the selling organization is intricately interwoven with its products, additionally, a business organization through promotion creates for itself the desirable impression in the minds of its customers and its community.
Buyers patronize products or services because of their believes in the qualities of the product as well as, having confidence in the ability or the firm to make reliable and functional product or services.
As an economy shifted from of the relative scarcity to one comparative abundance as both the number of consumer and the number of producers grew, more so, completion for consumer’s money intensified, a need emerged for planned, controlled marketing communications.
Over the years, the transmission of information about products to potential buyers in a manner designed to prompt positive action has grown increasingly sophisticated. We (marketers) have developed good ways to communicate. We have learned to identify and segment market.
We have made intensive studies of motivation and buyers psychology or consumers behavior. We have home to rely increasingly on marketing research as opposed to hunches.
And we have come to depend on planned communications to arouse attention, stimulate interest, generate desire and motivate action.
Most firm on longer operates on the principles that all you need is a “good product” sell itself.
Modern marketing therefore calls for more than developing a good product, pricing it attractively and making it available to target customers.
Organization or marketing organization manages a complex marketing communication system.
The organization communicates with its middle men, customers and public.
To communicate well, organization wires advertising agencies to develop effective, sales promotions specialist to design sales incentive programmes, and public relation firm to develop their corporate image.
They train their sales people to friendly helpful and persuasive.
For many organizations, the question is not whether to communicate, but know how much to spend on communication and in what ways.
The goals of specific communication and in what ways may include selling more of products to existing customers, selling the product during off seasons, increasing sales by promotion new uses for the product and so on.
While, some firms have money than others to spend for promotion, on firm has unlimited resources.
Therefore, each company must determine for itself which of those goals are most important and how much it can afford to spend to reach them.
1.1 STATEMENT OF RESEARCH
There is no special training or course for the staff so as to effectively promote the services the organization is rendering.
Duet to budgetary constraints the organization cannot meet the necessary requirement needed to facilitate their promotional activities.
There is no form of bonus to the staff based on their performance regarding their effort on promotional activities of the Kwara hotel.
1.2 AIMS AND OBJECTIVE OF THE STUDY
The aims and objective of this study is to research into problem affecting the promotional activities of the Kara hotel and recommend solutions toward solving the problems. And to consider how Kwara hotel employ these strategies to promote their services so as to meet the needs of their customers.
The effect of promotional activities on the organization.
1.3 SIGNIFICANCE OF THE STUDY
The significance of the study will be to provide insight into the effectiveness of the promotional strategies adopted by the organization. Also to consider the role of management of Kwara hotel, in ensuring an effective promotion of the services it’s rending of acceptable prices so as to give customer the desired level of service and satisfaction.
However, after completion of this research work, the organizations of Kara hotel is expected to identify some basic problems and the anticipated problem that could envisage in the future time, having in mind that this research work would have provide some workable and realistic solution and also giving room for further research when necessary.