The Marketing Problems And Prospects Of Five Star Hotel

Project and Seminar Material for Marketing

The Marketing Problems And Prospects Of Five Star Hotel


Abstract


This study focuses on the marketing problems and prospects of fire star hotel in Enugu metropolis “A case study of Nike lake Resort hotel”.

The main purpose was to find out among other things the following:

  1. To examine if the promotional strategies used by the hotel lead to increase in customer awareness.
  2. To determine if the quality of services rendered by the hotel will lead to a bright future for the company.

The population of the study comprise the customers and the management and relevant staff of Nike Lake Resort Hotel. The researcher used topman” formular to determine the sample size of the customers and census was also used for the staff of Nike Lake Resort Hotel.

A structured questionnaire was developed and administered by the researcher to 288 respondent comprising the customers and management and relevant staff of the organization.

Chi-square was used to test the four hypothesis formulated, based on the study carried out, the following findings were made.

  1. Those customers are not satisfied with the charges for services of the hotel.
  2. That the services of Nike lake hotel are readily available to their customers.
  3. Those customers not withstanding the charges are satisfied with the services rendered.

Based on the findings, the researcher made the following recommendations:

  1. That Nike lake Resort Hotel should make their charges affordable to their customers in order to make more returns for the hotel.
  2. And also they should appreciate the need for the use of effective promotional strategies.
  3. The government on their part should provide a scheme to help hotel to obtain funds if necessary in order to encourage tourism.

The researcher strongly believes that these recommendations will help to achieve the desired goals if properly applied and co-ordinated by the parties concerned.


Chapter Five


Summary, Conclusion and Recommendations

5.1 Introduction

This chapter contains summary of the study, conclusion and recommendation for policy makers and areas for further research. Data analysis and summary and conclusions were made in line to the study objective which was to determine relationship between marketing strategies and performance of large hotels in in Enugu state.


5.2 Summary of the Findings

The study sought to determine the various marketing strategies put in place by the hotels in enhancing their financial performance. The population of this study comprised all the large hotels in Enugu state. The study focused on the 30 five star hotels based in Enugu state. The findings obtained revealed that the most adopted penetration strategy was penetration pricing on services with a mean of 4.1, while the least adopted was direct marketing on services and products and internet marketing practices each with a mean of 3.3. The most adopted marketing strategy was making hotel brand visible to the niche market with a mean of 4.0, and the least being practicing market segmentation based on social class of the customers with a mean of 3.3. The most adopted product development strategy was existence of promotion strategies with a mean of 3.6, while the least was the hotel advertises its products through various media with a mean of 3. While the diversification adopted to the largest extent was maintaining of strong customer relationship with a mean of 4.2, the least diversification adopted was specialization in unique services with a mean of 3.2. Thus implying that though most strategies had large extents of adoptions, some still required improvements in their adoption.

On the relationship that existed between the study variables, product development strategies had a Pearson correlation of 0.334, and a p-value of 0.096, diversification strategies has a Pearson correlation of -0.305, and a p-value of 0.129, market development strategies had a Pearson correlation of 0.910, and a p-value of 0, and penetration strategies had a Pearson correlation of 0.796, and a p-value of 0. This thus implied that all the variables except the diversification strategies had a positive impact on the performance of large hotels.

On the overall effect of the dependent variable on the independent variable, R obtained was 0.918 and R square value 0.844. This implied that marketing strategies had positive relationship with organization performance. Marketing strategies explained 84.4% of the variation seen in the performance of large hotels in Enugu state is explained by the variables in the study mainly; product development strategies, diversification strategies, market development strategies and penetration strategies. This further meant that only 15.6% of the variation seen in performance of large hotels in Enugu state is explained by other variables which are not in the model. The results further indicated that overall, the model was highly significant. This is because the p-value obtained of 0.000 is less than both 0.01 and 0.05. Thus implying that at 5% level of significance, at least one of the variables included in the model is useful in predicting the performance of large hotels in Enugu state.

The model coefficients obtained by the study indicated that product development strategies had a coefficient of 0.126, diversification strategies had a coefficient of 0.025, market development strategies 0.787, and penetration strategies 0.175. The positive coefficients obtained indicated that all the variables had a positive effect on the performance of the hotels. Thus increased measures on these strategies would result in improved financial performance of the hotels.


5.3 Conclusions

Based on the study findings, the study makes a number of conclusions. The study aimed to establish the marketing strategies put in place by the large hotel in Enugu state. The study concludes that adoption of product development strategies, diversification strategies, market development strategies and penetration strategies improve hotel performance. The study also concludes that most adopted penetration strategy is penetration pricing on services, the most adopted marketing strategy was making hotel brand visible to the niche market, product development strategy was existence of promotion strategies while the diversification adopted to the largest extent was maintaining of strong customer relationship. This is an indication that most of the strategies have large extents of adoption. This may be due to the impact the strategies have on both the effectiveness and efficiency of the operations.

The study also established that the marketing strategies have a significant positive relation with the performance of the large hotels. The study thus concludes that variation seen in the performance of large hotels in Enugu state is explained by marketing strategies which include product development strategies, diversification strategies, market development strategies and penetration strategies. Hence proper strategies alignment and formulations will result in improved performance of the large hotels. This is because strategic marketing is the driver of organizational positioning in a dynamic environment, and that it helps to enhance the development of new product/service for existing markets.


5.4 Recommendations

From the findings, several recommendations are made. To begin with, the performance of the organization may be determined greatly by the type of marketing strategies employed. The study thus recommends that the implementation process of these marketing strategies should be given top priority during the strategy formulation process. Particularly, adequate time and resources should be allocated in ensuring that the strategies are implemented successfully.

Further, the marketing strategies adoption should be supported by an understanding of the hotel industry structure, the needs of target customer segments, positional advantages being sought, and trends in the environment. This will consequently improve on the firm’s market revenue, share and profitability. Additionally, the organizations should focus more on the practices that are likely to accrue more benefits. This should therefore go a long way in not only boosting but also improving the organization performance at large.


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