School Of Tourism, Hospitality And Events Management (Term Paper Sample)

MOI UNIVERSITY
SCHOOL OF TOURISM, HOSPITALITY AND EVENTS MANAGEMENT
DEPARTMENT OF HOTELS AND HOSPITALITY MANAGEMENT
COURSE TITLE: INTRODUCTION TO MARKETING
COURSE CODE: BHM113
SUBMITTED: MADAM SCHULZ
DATE OF SUBMISSION: 6TH JULY 2018
GROUP MEMBERS
NAME ADM.NO
1. BONNIFACE K. CHERUIYOT BHM/O5/18
2. KEBOYA WELLINGTON IVAYO BHM/17/18
3. MBOKE MARTHA NYAWIRA BHM/30/18
4. MWAMBUI TERESIA KATHINA BHM/41/18
5. BRIAN OTIENO BHM/52/18
6. NELLY JEMUTAI BHM/1OO2/18
7.JOHN RIDGE MAKWATA BHM/56/17
1. Discuss both the internal and external factors that can affect a marketers’ ability to facilitate exchange.
From the above statement it can be deduced that the internal and external factors that affect marketers’ ability to facilitate exchange is the marketing environment.
Internal factors
This refers to factors existing within a marketing firm. They are also called controlled firm, because the company or the marketer has control over these factors. They are:
Top management:
Factors like the amount of support the top management enjoys from different levels of employees, shareholders and board of directors have important influence on the marketing decisions and their implementation.
Finance and accounting:
* Accounting refers to measure of revenue and costs to help the marketing and to know how well it is achieving its objectives.
* Finance refers to funding and using funds to carry out the marketing plan.
Financial factors are financial policies, financial position and capital structure. Therefore the financial position of the business (profitability, cash flow) directly affects the scope and scale or marketing activities.
Research and development:
It refers to designing the product safe and attractive to the taste of customers.
Manufacturing:
It’s responsible for producing the desired quality and quantity of products. Marketers should check on the factors which influence the competitiveness of a firm are production capacity technology and efficiency of the productive apparatus, distribution logistics etc.
Purchasing:
Purchasing refers to the procurement of goods and services from some external agencies. It is the strategic activity of the business.
Company image and brand equity:
The image of the company refers in raising finance, forming joint ventures or other alliances soliciting marketing intermediaries, entering purchase sales contract, launching new products etc.
Human resource:
The quality and capacity of the workforce is a key factor in affecting marketing objectives. A motivated and well-trained workforce can deliver market-leading customer service and productivity to create a competitive marketing advantage.
External factors
External factors are beyond the control of a firm; its success depends to a large extent on its adaptability to the environment.
The external marketing environment consists of:
* Macro environment
* Micro environment
* Micro environment: these are the environmental factors that are in its proximity. The factors influence the marketer non-capacity to produce and serve the market. The factors are:
Supplier:
Suppliers to a firm or a marketer can also alter its competitive position and market capabilities. These are raw material suppliers, energy suppliers, suppliers of labor and capital. For example;
If the raw material suppliers fail to supply the materials required means that the marketer won’t be able to manufacture his products therefore lacking the ability to facilitate exchange.
Market intermediaries:
Every producer has to have a number of intermediaries for promoting, selling and distributing the goods and services to ultimate consumers. These intermediaries assist in breaking the chain of exchange and simplifying the distribution process. Thus the product reaches the consumer on time and also can large can cover a large geographical distance.
Customers:
They are the users of the products offered by the marketer.
The ability to facilitate exchange by marketers to customers is affected be;
* Population of the customers.
* Customer willingness to buy.
* Consumer disposable income.
* Attitude towards the product.
* Taste and preferences of the consumer etc.
The customers may be classified:
* Ultimate customers: these are customers may be individual and householders.
* Industrial customers: organization which buy goods and services for producing other goods and services for the purpose of other earning profits or fulfilling other objectives.
* Resellers: they are intermediaries who purchase goods with a view to resell them at a profit. They can be wholesalers, retailers, distributors, etc.
* Government and other non-profit customers: these customers purchase goods and services to those for whom they are produced, for their consumption in most of the cases.
* International customers: they are individual or organizations of other countries who buy goods and services either for consumption or for industrial use.
Competitors:
Competitors are those who sell the goods and services of the same and similar description, in the same market. Therefore, it is necessary to build an efficient system of marketing. This will bring confidence and better results.
Public:
It’s the duty of the marketer to satisfy the people at large along with its competitor’s consumers. Here the public is defined as ‘any group that has an actual or potential interest in or impact on a company’s ability to achieve its objectives’.
* Macro environment: they act external to the company and are quite uncontrollable. These factors do not affect the marketing ability of the concern directly but indirectly the influence marketing decisions of the company.
Demographic forces:
Here the marketers are keenly interested in the size and growth rate of population in different regions, nations and cities; age distribution and ethnic mix; educational levels; household’s patterns; and regional characteristics and movements.
Economic factors:
It consists of macro-level factors related to means of production and distribution that have an impact on the business of an organization.
Physical forces:
These are the forces of the earth’s natural renewal and non-renewal resources. Both of these components quite often change the level and type of resources available to marketer for his production.
Technological factors:
It consists of factors related to knowledge applied, and the materials and machines used in the production of goods and services that have an impact on the business of an organization.
Political and legal forces:
A marketers decision cannot be taken without taking into account, the government agencies, political party in power and in opposition their ideologies, pressure groups, and laws of the land.
Laws affect marketer’s ability to exchange i.e. pricing, product design, capacity and promotion.
Social and cultural forces:
This requires the marketer to take a lead in eliminating socially harmful products and produce only what is beneficial to the society.
2. Discuss what branding is and why hospitality marketers brand their goods and services.
Branding is the process involved in creating a unique name and image for a product in the consumers mind, mainly through advertising campaigns, with consistent theme.
Branding aims to establish a significant and differentiated presence in the market that attracts and retain loyal customers.
A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer. Brands are used in  HYPERLINK "https://en.m.wikipedia.org/wiki/Business" \o "Business" business,  HYPERLINK "https://en.m.wikipedia.org/wiki/Marketing" \o "Marketing" marketing, and  HYPERLINK "https://en.m.wikipedia.org/wiki/Advertising" \o "Advertising" advertising. Name brands are sometimes distinguished from generic or  HYPERLINK "https://en.m.wikipedia.org/wiki/Store_brand" \o "Store brand" store brands.
A brand is in essence a promise to its customers of they can expect from their products, as well as emotional benefits.
Branding is a set of  HYPERLINK "https://en.m.wikipedia.org/wiki/Marketing" \o "Marketing" marketing and communication methods that help to distinguish a  HYPERLINK "https://en.m.wikipedia.org/wiki/Company" \o "Company" company or products from competitors, aiming to create a lasting impression in the minds of  HYPERLINK "https://en.m.wikipedia.org/wiki/Customer" \o "Customer" customers. 
KEY COMPONENTS OF BRANDING
The key components that form a brand's toolbox include:
* a brand’s identity,
* brand communication (such as by  HYPERLINK "https://en.m.wikipedia.org/wiki/Logo" \o "Logo" logos and  HYPERLINK "https://en.m.wikipedia.org/wiki/Trademark" \o "Trademark" trademarks),
*   HYPERLINK "https://en.m.wikipedia.org/wiki/Brand_awareness" \o "Brand awareness" brand awareness,
*   HYPERLINK "https://en.m.wikipedia.org/wiki/Brand_loyalty" \o "Brand loyalty" brand loyalty, and
* various branding ( HYPERLINK "https://en.m.wikipedia.org/wiki/Brand_management" \o "Brand management" brand management) strategies.
CONCEPTS IN BRANDING
Effective branding can result in higher sales of not only one product, but of other products associated with that brand.
1. Brand names and trademarks
A brand name is the part of a brand that can be spoken or written and&n...