Task 1:

 

1.1          The marketing
concepts covers the understanding of the
market and individual customers’ needs and wants, select market segments through
research and analysis so that the marketing
programmes and activities can be tailored and initiated to achieve customer
satisfaction. Marina Bay Sands (MBS) is based all of its marketing activities
on the needs and desires of customers in the selected target markets through
market leadership, positioned itself as the world’s leading integrated leisure
and entertainment destination in Asia fulfilling customer’s satisfaction
through wide range of resort and hotel towers- 2560 hotel rooms and suites, expo
and convention centre and exhibition facilities, casino- Paiza Club for premium
players, the best shopping mall in Asia, the rooftop Sands SkyPark, world-class
celebrity chef restaurants, theaters, museum, event plaza and Crystal Pavilion.

 

In 2017, Singapore Tourism Board has reported the unprecedented
growth of Singapore’s tourism industry the number of visitors hits new
historical high to 13.9%. MBS is strategized itself as a an integrated resort combing
both works and leisure under one roof, offers state-of-the-art convention and
exhibition facilities along with a luxury hotel, the world’s first Art-Science
Museum, two theatres, world-class entertainment as well as the best shopping
and dining in the region differentiating against market offers in meeting
customer’s needs and wants.

 

1.2          It is important
for MBS to understand its micro- and macro-environment by carefully assess and
monitor external and internal environments for changes that pose threats or opportunities
to the company in order to stay competitive in the market. The micro-environment consists of customer,
supplier and internal stakeholder such as shareholder or employee, while the macro-environment consists of external
elements of political, legal and regulatory, ethical, social, cultural,
demographic and technology environment factors. Singapore Tourism Board (STB) reported
the tourism industry in Singapore continue to experience high growth and demand
despite stiff competition in 2017. The positive industry outlook with
government support on tourism business along with societal, cultural and
technological changes enable customer willing to pay more for unique experience
locally or abroad, has also created good prospects of tourism attractions for
MBS as a leading player in the industry.

 

People
are the key asset for hospitality organisation hence it’s important for MBS to
strive and sustain its leadership position. Despite salaries are expanding in
the digital field and benefits are becoming increasingly enticing, the company
has to offer attractive package in order to train and re-train its employees through partnership with
institution sponsorship of education and training programmes. Good and
long-term partnership also helps hospitality company drive positive results
from their key markets.

 

1.3          Understanding
customers’ buying behaviour is another critical success factor in hospitality
industry in order to sustain customer-
and service-orientated culture within the organisation. The company should
study their customer segment needs, expectations and purchasing and lifestyle
in order to tailor their offers to fulfil these needs in
order to retain and improve customer
satisfaction. For instances, a new hospitality company has to understand
the current consumer behaviour in order to set-up with right offering while an
existing hotelier need to understand their existing and potential customer behaviour
in order to manage customers’ demand for future in various aspects.

 

Furthermore, it’s critical for hospitality organisation to develop
and monitor visitor’s satisfaction level to build positive customer relationship which lead to customer loyalty. Customer
feedback, feelings, emotion and purchase intention of customers or service
recovery are another important element to manage in order to keep customer motivated while sustaining
their satisfaction level for next visit. 
Also, different customer segment tend to differ in terms of their buying
behaviour. For instance, corporate customers, tour and travel groups, free
independent traveller, retail and entertainment leisure guests’ behaviour is
differed from each other on their purchasing intention and behaviour. Therefore,
all products and services offering should be studied and tailored according to
different buying behaviour in order to retain
customer while maximising company profitability since the cost of obtaining
new consumer is much more expensive than retaining.

 

1.4          MBS is becoming
an iconic destination for visitors across the region and around the world, successfully
segmenting its customer into business customer
(MICE group) and leisure free
independent traveller and travel group.
MBS is seamlessly combined both business
and leisure into a single destination serving their two main customer
segments, namely business and leisure guests. For instance, the extensive Meeting,
Incentives, Conventions and Exhibitions (MICE) facilities of exhibition halls,
and convention centre uniquely designed and offered to the business visitors on
the other hand. The leisure travellers or group been offered with best-in-class
facilities and services of the hotel towers with an extraordinary sky park,
crystal pavilions, museum, premium retail stores, trendy restaurants, theatres,
night clubs and casino.

 

Task 2:

 

2.1          The hospitality
industry is service-dominates businesses, mature market in Singapore with
intense competition. Marketing mix is a critical tool to optimise profit; the 4Ps are Product and Services, Price, Promotion
and Place. Product covers tangible
goods such as hotel or resort accommodation facilities while intangible
products cover services provided by
the employee. Customer- and
service-orientated culture must be cultivated in order to build positive-relationship to satisfy
customer’s expectation and requirements throughout the whole organisation. Pricing, is another key factor in attracting
and retaining customer, especially price-sensitive segment customer.
Hospitality organisation is service-oriented businesses, the price that
customer paid must be strategically determined with consideration of
whole-packages of services offered to the customer. Promotion involves the mixing of various combinations of advertising,
sales promotion, and public relations to promote and sustain company’s
objective and profitability. Place or
location of the product or service availability also considered another
important factor for the customer to decide their accommodation. Strategic,
quality, convenient and easily accessible locations which cost- and time-saving
should be part of the package offered to the customer. People are another important element in service-orientated industry
since the success of a hospitality organisation is highly depend on how
services is provided to the customer in addition to the products.

 

 

2.2          MBS pricing
strategies and policies is to maximise
the utilisation of existing resources and capacity while attract and retain as
much customer value as possible due to high fixed-cost and overheads, the
goal is to increase revenue by matching price with willingness to pay so more
customers are encouraged to purchase over a broad range of room with Lowest Price Guarantee starting from
SGD 359- SGD 900. Although the existing
partner of online travel agents and physical travel agencies also brings in
bookings plus group sales, MBS’ website is still the key channel to acquire
customer since they been offered with the best
online rates from SGD359 onwards. This strategy
avoids extra costs paying to 3rd parties allows MBS to guide the
customer through the purchase process to optimise customer values. Also, price
promotion aims to transfer the surplus demand while motivate customer to
purchase with added-value services. Various seasonal promotions
packages such as book a Show and Stay package from SDG 613.00 onwards while enjoy a variety
of privileges as museum visitors, theatre patrons and convention centre
delegates from dining and nightlife to attractions and shopping. MBS also
strategically priced the attractive offer for their corporate customers such as
It’s Easy Meeting Green Package, Sands
Rewards Meetings, A Rewarding First Meeting and Hospitality Meetings
all-inclusive meetings and accommodation package with an exclusive rates offered
at SGD308++ per person while let the hotel guests achieve their sustainable
goals.

 

 

Task 3:

 

3.1          Promotional mix
is the strategy use to promote company’s
product and services while boosting sales. In addition to its core
promotional activities and campaign, MBS is innovatively by continuously strive
for deeper and more unique experiences such as MBS iconic design and
multi-dimensional offerings
introduced four new celebrity chef and are continuously bringing in
new-to-market brands and flagship stores to its retail outlets. On the MICE
front, in addition to popular trade events MBS introduced new-to-Asia shows
such as association meeting and exhibition, conference and summit. MBS is also promoting across all digital channels to achieve company objectives and business targets
through partnership with best in class agency model whom has experiences and
industrial digital media expertise since MBS is emphasised creativity and
thought leadership at the forefront of innovation and technology further strengthen company’s market presence in the
region in travel, retail and luxury across Asia.

 

3.2          Operating in the
competitive business environment in Singapore’s hospitality industry, hotel
service and product are best advertised via strategically build brand equity embracing the evolution of media,
especially in digital advertising via social media, and being present in the
relevant platform at the right time to reach customer effectively and efficiently.
Digital world create meaningful
experiences for the way they conduct sales on the front line, engage their
people in order to deliver a vision, drive engagement to connect with
digitally-savvy consumers, especially the millennial travellers. Hotel service
and product is efficiently advertised through social media of Facebook or Twitter at affordable
price. Relevant personal data will be accumulated while the existing or
potential customer online search for the accommodation details, these data will
be utilised for hotel’s advertisement while posted on user’s Facebook page
while they’re online, or when they join a particular interest group. Google AdWords is another online form
of advertisement since the hotel only paid the advertiser by actual click
whenever the users view their ads or browse the website. Working partnership
with online booking agent such as Booking.com
or Agoda.com is another effective way of digital advertising since most of
the travellers using webs to browse and purchase their accommodation.

 

3.3          Effective
content sales promotion and public relations using social media and brand
ambassador strategies with celebrities and public figures tend to promote brands while achieving company goals
differentiate against the competitors. For instance, apart from being the
biggest hotel in town, MBS is holding full marketing programs such as strategic cross promotions with
local partners and businesses, convention partnership, promotions and events; Key
holiday weekends, special events, celebrity birthdays, album releases, film
releases and social events for targeted event programming and offerings; Restaurant
marketing offers and promotions; Seasonal event programs (brunch, day parties,
etc. As part of content marketing or social media strategies, MBS partner
with celebrities star like David Beckham to
constantly reinventing the campaign creating brand awareness. The David
Beckham campaign had been an effective marketing tool whereby MBS received 520,000
social engagements and 45,000 organic views on YouTube.

 

 

Task 4:

 

4.1          Singapore’s hospitality industry
is experiencing rapid growth with increasing number of business and non-business
visitor who either short-stay or long-term stay is leading to high demand for lodging segment and
facilities and amenities. As a leading player since 2010, MBS continues its
effort to listen to the customers’ feedback to anticipate demands while seek for continuous improvement of its
products and services to operate such a distinctive tourism landmark in
Singapore. Customer satisfaction is the key to sustain its market leadership hence
it’s critical for MBS to define and
measure as how products and services offered is meeting or exceeding customer
expectations and against their competitors while capture the fast changing market
trends especially the increasing customer’s demands through market research. Improvement plan and policies hence could
be initiated and implement while Key Performance
Indicator set based on research result which defined performance standard
against customer expectation enables the employee to provide quality service according to the standard, retain customer satisfaction and meeting MBS’ goal and objectives ultimately.

 

4.2          Primary data collected
from the research are original and direct feedback through observation,
interview or questionnaire. MBS is running large scale of operations in the
hospitality industry, primary data could
serve as very useful source of info with
greater validity compare to secondary data. Questionnaire could be prepared and distributed directly to
customer or indirectly through website or third-party survey. Interview could be scheduled with
selected audiences while customer
feedback form could be conveniently located easily access by the customers.
However, primary data is time and cost consuming since more resources have to
be allocated in order to carry-out the research. The faster form of data collection
is through customer’s online review and
feedback, whereby response could be provided and issues been addressed
immediately. Secondary data, on the
other hand, is derived and collected based on data which published by original
source such as industrial reports,
organisation database, journals, and periodicals, magazine and so on. Secondary
data is easily access and available with minimal cost and time involved
compared to primary data collection. The reliability and validity of secondary
data is lower since it can be easily obtained and manipulated by second source.

 

4.3          Digital or Social media served as most efficient way for
a brand to communicate with people. The always-on ecosystem of blogs, social
networks and forums has created unprecedented opportunities for MBS to lead the
way in engaging communities and build
direct relationships with customer to drive long-term social engagement
whilst demonstrating commitment and involvement with customers. MBS develop and
implement social media engagement,
processes, content creation and outreach to ensure that all business units
meet company goals. Different business units have
different strategies and tactics on social media, depending on which social
platform work best for their targeted audience. For example, MICE are tapping
on LinkedIn and Twitter to engage with delegates while Retail using style
influencers to promote new experiences and offer. F & B tend to be more
effective using food photos and images as well as working with bloggers to
promote the menus and services. For the gaming unit, face-to-face interactions
works more effectively with loyalty programs are more effective to reach and
retain target customers.

 

Online platform such as Website, Trip Advisor to Blogs serve as key point for customers
to discover offerings and services, usually through their mobile devices. Also
serve as another effective promotional tool for company offering mobile
consumers with relevant content and deepen their engagement with MBS. The
journey continues when they are on property, through a MBS designated app which gives guests easy access to information,
such as the mall directory and an online property map, using their mobile
phones.  On daily basis, the Social Media
team creates content for various platforms, manages all the interaction and
engagement with customers, ensure that all feedback are responded to in a
timely manner. Apart from daily social engagement, the team also utilises
social media for branding, marketing and communication, customer service,
recruitment and employee recognition. Through this continuous loop of digital experiences, MBS serve the specific needs of guests and
create personalised experiences for the customer. By leveraging social
media, MBS could continue to cultivate a
strong bond with customers and more accessible globally.

 

4.4          Through the innovative, aggressive and well-implemented marketing plan, MBS has
gained over 40 million visitors annually for the past two years. In the third
quarter of 2016 as reported in Annual report, the hotel occupancy remained high
at 98 per cent and was presented with the prestigious awards in Singapore’s
tourism industry.  Also, MBS has
successfully initiated the charity auction whereby it managed
to sustain MBS’ credibility and corporate responsibility through fund raising to
promote the Arts in Singapore while fulfilling the corporate responsibility and
goodwill of the company. With
its creative and adventurous in recent marketing efforts of its team, MBS’ key promotional tools of social media have grown rapidly through
rigorous supports and aggressive marketing plan initiated and implemented by
its team. Critically, Profit maximisation is the
fundamental objective to sustain a hospitality business whilst customer is the key source of profit and
sustainability, thus the company has to localised marketing strategy, align
with global trends by adopting new technological possibilities by roll-out significant marketing program and campaign.
As Senior Vice President of Marketing at MBS said, “We want to be a place where
people want to come back. MBS has to shift from being a spot to take the
perfect Singapore Selfie, to be being a lifestyle destination you can visit
time and time again, creating a must-visit destination for anyone in Singapore”
(Sands Annual Report, 2016).

 

 

 

 

 

 

 

 

 

 

 

List of References

 

Kotler, P., Bowen, J.T. &
Makens, J.C (2010) Marketing for Hospitality and Tourism (5th ed.)
Upper Saddle River, NJ: Prentice Hall.

 

McCoil, R., Callaghan, B., and
Palmer, A. (1998) Services Marketing. McGraw-Hill Book Co.

   

Sands Annual Report (2016).
Available from http://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_LVS_2016.pdf (Date accessed: 09th
Jan 2018).

 

Singapore Tourism Board Annual
Reports (2016). Available from https://www.stb.gov.sg/news-and-publications/publications/Pages/Annual-Reports.aspx (Date accessed: 09th
Jan 2018).

 

 

 

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