Since students in Hospitality programs across the country are required to take a "Hospitality Marketing" course in addition to a "Principles of Marketing" course, there must be some fundamental or additional information differences between these two courses. One would assume there would be some differences within the established four P's of marketing (product, price, place, promotion). For this question explore and clarify those fundamental differences and give some comparisons/contrasts examples for each issue either among various parts of the hospitality industry or between some part(s) of the hospitality industry and non-hospitality industries. After explaining these differences, bring the paper to a conclusion by suggesting some implications these differences may have for managers in this hospitality industry.
Marketing strategies generally fall under four controllable categories. These four categories are often called the 4 P's and they represent the product, price, place and promotion aspects of marketing. Another term often used for the 4 P's is called marketing mix. Marketing mix is a term that became popularized in the 1940's by Neil H. Borden. Borden began using this term in his writings and teachings after the scholar James Culliton referred to the marketing manager as the "mixer of ingredients" in one of his works.1 Marketing mix is a general term that can apply to many marketing industries; because it does not restrict the marketer to the 4 P's of marketing; since each industry has their own "mix of ingredients" that often falls out of the scope of the 4 P's of marketing. This holds true for the hospitality industry, the hospitality industry in fact has 8 P's of marketing. 2 This is one of the major reasons why higher education facilities require hospitality management students to take both a general business marketing course and a hospitality marketing course.
The 4 P's of marketing were developed and outlined in the classic text Basic Marketing, written by E. Jerome McCarthy. McCarthy grouped the 4 P's and called them the 4 basic principles of marketing. 3 The 4 P's are considered the aspects of marketing that the marketing manager can control. The 4 P's are to be used as focus points when developing a marketing plan. They are used to assess and target the customer in the specific target market of the product or service. The 4 P's outlines by Jerome are part of the 8 P's associated with marketing in the hospitality industry as well. The 4 P's are outlined as follows: product, place, promotion, price.
A product is a tangible physical product that can be sold to a consumer, a service can also be considered a product. Some examples of product marketing decisions would be: brand name, functionality, warranty etc. In a traditional marketing setting, marketers would focus on a particular product such as a clock radio, and they would figure out a brand name that...