Marketing Essay

1.1 Explain the core concept of marketing, especially customer need and satisfaction, service quality and the reasons to stay competitive in hotel industry. How does Hotel Royal-Newton apply such concept?

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

To explain the core concepts of marketing, we look at the following terms: needs, wants, and demand; products; exchange, transaction, and relationship; and markets, value, satisfaction.

Need: Marketing is satisfying customer needs.

Puts the customer at the heart of the business the customer is truly god! A human need is a state of felt deprivation of some basic satisfaction. These include physiological needs for food, clothing, warmth; safety and security needs; love and belonging needs; esteem needs for prestige, recognition, and fame; and individual needs for knowledge.

Philip Kilter defines marketing as ‘satisfying needs and wants through an exchange processes.

Satisfaction: Satisfaction with a product is determined by how well the product meets the customer's expectations for that product. We can tool for tracking and measuring customer satisfaction: complaint and suggestion systems, customer satisfaction surveys.

Service Quality: It bare on its ability to meet customer needs. The fundamental aim of today's total quality movements has become total customer satisfaction. The good service is very important; it can attract more customers live in a hotel.

If I'm a businessman, what do I want in hotel? First, I want wireless Internet, because businessman has to keep in touch with their clients. When I tired, I want to relax and have a rest. So I want to drink some juice. Let me see the Hotel Royal-Newton

Hotel Royal-Newton's concept is let customers feel like home, enjoy "every room a home" feeling; "24 hours coffee house "; "Japanese restaurant"; "steamboat buffet"; "drinking hotel"; "VIP lounge"; "KTV" and lots of services for customers.

What is the reason Hotel Royal stay in competitive. We know the world change every day and the consumers' need will change. So hotel have to know what is customer's need now and comes out some new products.

1.2 Assess the impact of internal environment (the company's operation), competition environment (five-forces) and external environment (PEST) on Hotel Royal. For external environment, your analysis will include the impact from recent financial turmoil.

Marketing environment