Hotel Market Segment in Your Community

Assessment IIII
Name
Institution


Question One
The world is rapidly changing, and this has necessitated a change in many areas of business. People in today’s world have developed a need to be recognized and treated in a special way everywhere they go. This need has necessitated changes in the hotel industry and has led to a new marketing strategy popularly known as market segmentation. Market segmentation not only improves company’s revenue but also ensures customer satisfaction. Today’s consumers are aware of their needs and requirements and they like a hotel that can adequately cater for their every need. (Kotler P, 2014)
Hotel segmentation divides the customers into smaller groups depending on their needs. This segmentation makes it easier for the management and the hotel staff to cater to the client needs more efficiently. The basis a hotel decides to use to segment its customer varies from one hotel to another. Some examples of the most common market segments are commercial, leisure and group. For my study, I have selected group segment. Group segment is very broad and entails business, incentives, weddings, events, and conferences. (Webber H., 1998)
Segmenting the market is not enough to guarantee the success of the hotel. It is important to know the various marketing mix that apply to each market segment. The manager in charge of sales and marketing is the one responsible for determining the proper marketing mix. The mix is very useful in identifying the various marketing variables that the sales team can use for each target market. A marketing mix is made up of several elements that are critical to the success of a market segment.
Service and facilities are considered the most important aspect of any marketing mix because without the staff we would have nothing to deliver to the guests. Another important aspect is place and distribution that refers to how accessible the products and services are. Pricing, promotion and communication among others are also important tools to a perfect marketing mix. Market segmentation helps managers analyze where demand is highest and the direction in which the market is heading.
Question Two
Group markets are made of meeting and group demand. Guests in this market prefer hotels that has large meeting spaces, foods and beverages outlet, and business technology. This market brings about large profits to the hotel and thus very important. The managers aim at maximum customer satisfaction and offer discounts to retain and attract more of this customers. Individual market mainly comprise of individual staying for few days either on leisure or business purposes. Meeting the needs of this customer is hard since each individual has different needs. The best way to retain customers in the market is by providing exemplary services. (Webber H., 1998)
Question Three
Every business has a set of norms, beliefs, and values that the employees of that organization adhere to. This set of beliefs determine how people react to situations, think in certain ways and even appreciating common goals. Service companies like hotels ha...