Tourism Marketing Principles Of CH&CO Company Assignment Sample

Introduction Of Tourism Marketing Principles

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Tourism marketing principles entail developing and marketing products or services in order to draw visitors to a destination. It involves market analysis, crafting of services, pricing techniques, advertising, and transportation in a practical business setting (Foskett et al. 2021). In order to develop recognition of the brand and customer loyalty, successful tourism marketing necessitates a thorough understanding of customer behavior and strong communication.

Main Body

Company Overview

The chosen company is CH&CO one of the leading UK-based catering and hospitality businesses. Since its founding in 1991, the business has developed into an influential player in the market, offering a variety of services and products to customers in numerous industries (Oktadiana et al. 2022). CH&CO, a company with more than ten thousand staff members and a £300 million annual revenue, is renowned for its dedication to ethical and sustainable business practices as well as its emphasis on employee education and training. Due to the company's reputation as a market leader, selecting CH&CO for a marketing principles analysis is a wise choice. The business has an impeccable record of success, and its dedication to ethical and sustainable business practices is an unmistakable sign of its progressive mindset (van Rijen, 2021).

The company's emphasis on employee training and development is also a major asset because it guarantees that staff members have the skills needed to provide clients with outstanding customer service (Koney, 2019). CH&CO provides a wide range of offerings and services, which involves catering, management of events, hospitality solutions, and facilities management. They are present in a number of industries, including the corporate, educational, medical, recreational, and public sectors. Customers receive excellent support because their customized solutions are made to meet their unique needs (Legrand et al. 2022). Furthermore, it would make evident the tactics the company has used to stay relevant and competitive in a constantly evolving business atmosphere.

External Analysis of CH&CO

Consumer analysis

Customers of CH&CO come from a variety of industries, including the corporate, educational, medical, recreational, and public sectors. To deliver exceptional service, CH&CO must take into account the specific needs and demands of their customers. For instance, CH&CO's clients in the corporate sector need catering solutions for conferences, conventions, and other kinds of occasions. In order to satisfy the wide range of needs of its clients, CH&CO provides customized solutions that are suited to the particular demands of each industry. They require timely and cost-effective delivery of high-quality food and drinks. The business utilizes a group of skilled chefs and hospitality experts who collaborate closely with clients to comprehend their needs and create solutions that live up to their expectations (Goryushkina et al. 2019). CH&CO also makes investments in the education and training of its staff members to give them the tools they need to deliver first-rate service. Customers of the hospitality industry demand catering and assistance amenities that adhere to the best standards of sanitation and security (Dixit, 2020). Target marketing entails focusing a marketing strategy on one or more segments. The tourism sector must identify its target market and create a marketing mix that meets its consumer's requirements and expectations.

Organizations Competitive Solutions Analysis

Threats & Opportunities Analysis:

Opportunities:

• Rising consumer demand for foods that are sourced locally and sustainably (Beirman, 2020)
• Growing awareness of nutrition and healthy eating
• Rising demand in emerging markets for high-quality tourism services (Olimovich and Khudoynazarovich, 2020)
• The catering and hospitality sector is using technology more and more.

Threats:

• Shifting consumer tastes and preferences
• Strong rivalry from prominent players in the tourism and hotel business (Mzembe et al. 2020)
• Increasing governmental demands for food security and compliance.
• Unpredictability in the economy and fluctuations in exchange rates

PESTEL Analysis

Political: The tourism and hospitality industries may be impacted by changes in governmental rules and regulations. Alterations in immigration laws, for instance, may have an impact on the labor market for skilled workers (Porcu et al. 2019).

Economic: The financial viability of the sector can be impacted by economic variables like inflation, inflation rates, and economic growth. In a volatile economic environment, cost management while sustaining margins may be difficult for CH&CO.

Social: Cultural variables that affect the sector's preference for services include shifting consumer lifestyles and preferences (Beirman, 2020). In order to remain competitive, CH&CO needs to stay on top of evolving trends and consumer preferences.

Technological: The hotel and tourism industries can become more efficient and spend-less money with technological advancements like the use of AI and automated processes (Alrawadieh et al. 2021). For CH&CO to stay competitive, cutting-edge innovations must be adopted.

Environmental: The operations of the industry may be impacted by environmental factors like sustainability and global warming issues (Elsharnouby and Elbanna, 2021). In order to lessen their environmental impact and satisfy the demands of clients who care about the environment, CH&CO must implement environmentally conscious procedures.

According to the analysis, CH&CO operates in a challenging marketing environment that offers risks as well as potential. To stay competitive, the business must keep coming up with new ideas and adjusting to shifting market conditions (Romero and Tejada, 2020). The emphasis CH&CO places on environmental sustainability and worker growth is an important competitive advantage that can help set it apart from rivals. In general, CH&CO has the ability to seize new opportunities and mitigate emerging dangers.

Internal Analysis of CH&CO

Strength and Weakness Analysis

Strengths

• Good reputation: As a hospitality provider, CH&CO has built a solid reputation. The business has garnered favorable reviews from clients and won numerous awards.
• Competence: The tourism sectors are well-known to the team of experienced workers at CH&CO. The business is qualified to offer unique solutions to satisfy the demands of its clients (Sadq et al. 2019).
• Sustainability: CH&CO has an important competitive advantage thanks to its emphasis on sustainability. Customers who care about the environment will enjoy the organization's regionally grown and environmentally friendly food offerings (Koney, 2019).
• Customer care: CH&CO places a high priority on offering top-notch customer care. The business employs a group of devoted employees who have received training to provide each client with individualized service (Dixit, 2020).

Weaknesses

• Over-Dependence on Key Clients: CH&CO has a small customer base, and a small number of key customers account for a large portion of its revenue. Due to this, the company is vulnerable to modifications in the operations of these important clients (Beirman, 2020).
• Significant functioning Costs: CH&CO's emphasis on sustainability and regionally sourced foodstuffs raises its expenses for operations. Because of this, it might be challenging for the business to stand out on price with other service and tourism providers (Foskett et al. 2021).
• Restricted Geographical Reach: CH&CO primarily conducts business in the UK, which restricts its capacity to penetrate new markets and it can be determined as one of the biggest weaknesses in this competitive business environment.

According to the internal analysis, CH&CO has substantial advantages in terms of its standing, knowledge, and emphasis on sustainability. Significant vendors have developed enduring relationships with the business, and its clientele is devoted (Romero and Tejada, 2020).

Porter's Five Forces Model

Suppliers' Bargaining Power: A variety of suppliers provide CH&CO with its raw materials. Due to the company's steady connection with key suppliers, it is less dependent on any one of them (Sadq et al. 2019). However, because certain essentials are hard to come by and it is expensive to source locally and sustainably, suppliers have significant bargaining power.

Buyers' Bargaining Power: CH&CO competes in a fiercely competitive market with strong buyer power. Customers have access to a variety of tourism and hospitality service providers, so CH&CO is under pressure to distinguish the products and services it provides.

Threat of New Competitors: Due to the substantial investment needed and the need for significant knowledge in the hospitality sectors, the potential danger of fresh competitors is low (Legrand et al. 2022). An obstacle to entry for new rivals is created by CH&CO's solid reputation and devoted customer base.

Threat of Alternatives: Due to the readily accessible wide range of hospitality and tourism providers, the possibility of replacements is moderate (Oktadiana et al. 2022). However, CH&CO can set itself apart from rivals and lessen the threat of alternatives owing to its emphasis on environmental sustainability developments.

Rivalry in the Industry: CH&CO competes against many well-established players in a very competitive industry. But thanks to its emphasis on environmental responsibility, sustainable products, and top-notch service, CH&CO has built an established track record and a devoted clientele. This has aided in setting the business apart from rivals.

Therefore, to combat the strong bargaining power of customers and the industry's level of competition, CH&CO must continue to differentiate its goods and services. The company has a distinct advantage over rivals thanks to its emphasis on sustainability and eco-friendly services (van Rijen, 2021). Overall, CH&CO is in a strong position to fulfill customer demands and hold onto its status as a top tourism and hotelier.

Ethical Business

CH&CO has taken a number of steps to encourage moral conduct in its business dealings. The business is dedicated to operating in a way that is ethical and accountable, as stated in its code of ethics. Employees are encouraged to report any unethical conduct that they see under CH&CO's prominent policy. In terms of moral conduct, CH&CO has shown a strong dedication to sustainability. The business seeks to reduce its environmental impact by sourcing locally grown and sustainably produced food items, as well as by using eco-friendly packaging and reducing food waste (Dixit, 2020). Along with these charitable endeavors, CH&CO also supports food banks and programs that serve meals to underprivileged communities. Therefore, CH&CO's emphasis on moral conduct is demonstrated by the company's code of ethics, regulations on reporting unethical behavior, dedication to environmental sustainability and support of the local community.

Future Developments

According to internal and external analysis, key audit issues were identified, and CH&CO should concentrate on diversifying its clientele, cutting operating expenses, and extending its geographic reach. In order to deal with the issue of dependence on its key clients, CH&CO should look into ways to draw in new clients, which might include marketing its services to a larger audience, broadening the scope of its service offerings, and looking into joint ventures with other companies (Beirman, 2020). Moreover, to lower its operating expenses, CH&CO could look into alternate sources of organic and regional food products, bargain better prices with providers, and simplify its processes to cut waste and boost productivity.

Future marketing initiatives should also take ethical issues into account. CH&CO should keep placing a high priority on ethical food sourcing and sustainability, and it should let its clients know that it shares these values. The business should also make sure that all of its marketing initiatives are honest, open, and do not in any way deceive consumers (Romero and Tejada, 2020). Therefore, CH&CO may think about establishing new locations or collaborating with companies in various regions in order to increase its geographic reach. The business might also look into chances to enter new markets, like the corporate catering or events sectors. To reach a larger audience and market its services, CH&CO could make use of social media along with digital marketing channels. To draw in new clients, the business might also think about promotional materials and specific advertisements (Elsharnouby and Elbanna, 2021).

Conclusion

Based on the analysis it can be concluded that CH&CO has proven itself committed to the marketing principles of the current business market that focuses on sustainable and environment friendly operations. Along with fulfilling their environmental obligations and social responsibilities CH&CO has been observed to change their business operations with consumer preferences while maintaining competitive advantage in the market.

References

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