Achievement and high status by according them 5 star

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achievement and high status by according them 5-star guest rooms and infrastructure at premiumprices.Task 2LO2.1 Marketing mixMarketing mix encompasses of four principle elements that are used to market a product or service. The fundamentals of the marketing mix include product, price, place and promotion. They are generally referred to as the 4Ps of marketing. They are used to target the market and at the same time used to realise the objectives of marketing. They provide a platform where the marketers can evaluate their marketing strategies7.Product of Hilton This is the actual feature companies present to their customers. What is the size and the quality of the product? How does it look like, the design and value of the specified product? The company ensures their product are of high quality so as to meet the wants of their customers. Thecompany ensures it has a diversified range of products to suit all their customers. Having customers from different backgrounds and culture, the company ensures their product meets theirneeds and wants.4P’SPrice of Hilton 7S, Chen, (2001).Strategic management of e-business.New Jersey: John Wiley & Sons, Inc...
14To fix the correct and appropriate price of a product is a difficult task. The price of the product should be reasonable and should match the standards and quality set by the company8. Price is a major factor while marketing the products. Most people inquire for the prices before they book a hotel. If the prices are so high in one hotel, then some people may decide to book in another hotel and resort. Therefore, the company must set the prices in a balanced way. The prices shouldnot be low as this will reduce the quality and class, also, they should not be so high to offset some customers. The company should set prices of their products and services in such a way theyremain competitive in the market.Place of HiltonThese are the distribution channels employed by the company as they distribute their services and products. They also include coverage channel, warehousing and storage, distribution logistics and inventory management9. The hotel management is responsible for choosing the correct distribution channels so that the customers receive their product in the right place and time. Promotion of HiltonPromotion includes direct marketing, advertisements, exhibitions, sales promotion, etc. most organization employ sales promotion and advertisement in marketing their products. Promotionalactivities encompass free distribution of products and may include a reduction in the pricing. 8Khanna, Tarun, and W, Jan, "Estimating the performance effects of business groups in emergingmarkets."Strategic management journal22.1, 2001, pp. 45-74.9J, Pearce & R., Robinson, (2000).Strategic management: Formulation, implementation, and control. New York: McGraw-Hill.
15Hilton hotel employs advertisements a lot when marketing their products and services.

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