Questions about Fair Mount Royal York in Toronto - Assignment Example

Answer These Questions about Fair Mount Royal York in Toronto Importance of Selling Globalization has been giving huge scope to the all service industry to perform operations at its level best. In the present scenario, marketing is identified to be playing an effective role for businesses to maintain their sustainability. Contextually, hotel industry is the major part of service industry and selling strategies help to flourish the business of this service industry rapidly (Connor, 2005). Fairmont Royal York, well-known hotel of Canada is an ultimate example of a hotel service industry that has been serving its customers for decades and to sustain in the industry, it has followed certain selling strategies. Besides, marketing every hotel has other functions to be performed and selling is one of the functions of a business (Kumar et al., 2008). Selling helps to perform the external function of the industry whereas, production, research and billing are the internal functions of the service industry. Thus, both functions are dissimilar from each other (Banerjee & Soberman, 2013). Advertising, promotions and public relations are coming under the external functions of Fairmont Royal York and on the other side, selling is a component of the business function. At time of formulating the selling strategy for business, other components like advertising, promotions and public relations helps to explore the market demand. Every business component is important for success of a selling strategy. Advertisement is the way to communicate with its prospective customers through promotion helps to promote the products and/or services, which helps to improved sales of the hotel. Public relations help to make channels and generate relations with internal as well as external clients of the hotel (Resetarits, 2013). Product and/or service and the company i.e. Fairmont Royal York are interrelated, as these two aspects are most vital for marketing. In this context, company is a place where the services are been served to its prospective customers (Abeysekera & Wickramasinghe, 2013). For instance, the prime duty of the company is to serve its prospective customers with quality service. Fairmont Royal York Hotel is one of historic and renowned hotel of Toronto. In the year 1929, the hotel has started its journey in Toronto. The hotel has been known for its best service and hospitality. In the recent times, it has been recognized that the hotel has been renowned as a smoke free hotel, which has assisted in developing the brand image in the market segments. The hotel is located in the heart of the city and the management team of the hotel seeks that the clients are offered with memorable as well as impressive experience on their stay than other hotels in the town. The hotel has a very classy interior, magnificent surrounding and gives a royal feeling to its consumers. The management team of the hotel has connected to its prospective clients through different media technologies, so that the clients are updated about discounts and offers that are offered (FRHI 2014). Fairmont Royal York hotel has been offering bunch of services to its prospective clients such as five superior restaurants, four lounges, fitness centers, spa treatments, indoor swimming pool and stream bath facility. The hotel is also identified to be rated as five stars and it has given royal class accommodation to its prospective clients. The stated hotel accommodation is one of the main attractions for its clients. It has 1365 guest rooms, which has lavishly decorated and sophisticatedly positioned. However, the hotel authority named all its rooms as guest rooms in comparison to other five star rated hotels that divide their rooms in different sections. All guest rooms are highly equipped with Wi Fi connectivity and equipped with other entertainment features like television, music systems and in-room movie facility. Most of the floor of the hotel is of gold. The stated hotel has followed traditional as well as deluxe accommodation guest rooms for its clients. Traditional guest rooms with sophisticated and comfortable interior and deluxe rooms have larger sitting and sleeping area in it (FRHI 2014). Notably, Fairmont Royal York has been known for its restaurant service, as during the holidays or festival times, it offers different kinds of cuisines and provides different discounts for whole day meals. The hotel has offered multiple dining options such as ‘EPIC’, ‘Kosher Food’, ‘Library Bar’, ‘In-Room Dining’, ‘and York’s Café’ and ‘Afternoon Tea’. Thus, to attract new clients and retain old clients, the hotel has been using selling cycle to meet the requirements of the clients in an effective manner (FRHI 2014). Fairmont Royal York Hotel is famous for its reception parties and business meetings. Most of the Toronto multinationals is willing to hold business meetings, new product launches and conferences in the stated hotel for the unique hospitality services that are offered. The hotel offers classy boardrooms and reception halls for corporate meetings and marriage receptions. It has offered various wedding packages for its clients such as exclusive engagement and bridal showers. The hotel is a perfect venue for social events like corporate parties and get-to-gathers. In addition, online booking services are also offered to clients for improving their experiences (FRHI 2014). Fairmont Royal York has remained in the service industry for long time. Therefore, to maintain its sustainability in the service industry and compete with its competitor, the hotel has updated services such as online booking facility, and it has offered reliable packages for its old as well as new clients (Dixon & Tanner, 2012). To cater maximum numbers of clients at one time, service industry has been using varied approach to selling function (Rubenstein, 2004). Due to high pressure from the competitors, Fairmont Royal York has re-designed its offers and introduced new benefits for the new client as well as offered discounts for old clients. This kind of approach of selling has assisted the hotel to survive in the service industry for long time (Murphy, 2000). The field of marketing sales cycle has played an important part for Fairmont Royal York. Sales cycle has different stages, which makes the service of the hotel more effective (Duffy, 2005). These stages are, Prospect for leads, set an appointment, qualify the prospect, make presentation, address the prospect’s objections and close the sale. The hotel performs its selling operations based on the sale cycle (Schwepker & Schultz, 2013). The first stage “prospect for leads” explained that if the new client does not know about the service, then they would not be aware of the services offered (Choi et al., 2006). Fairmont Royal York perform closing of the sale by cracking the first stage, second stage “set an appointment” and third stage “qualify the prospect”. Therefore, if prepared a presentation for better understanding of new clients, then Fairmont Royal York goes for the stage called “address the prospect’s objections” and after that the company performs the “close the sale” stage and at last the stage called “Ask for Referrals” is conducted. In this process, Fairmont Royal York close to sale (Dietz et al., 2012) Follow Up To succeed in every sales call, Fairmont Royal York has to be more focus about the needs of the new clients and it has followed its organizational rules as well as regulations and never used bribe to crack the sale call (Bolander et al., 2008). HRM department of the Fairmont Royal York has to take care of each detail of sales call. Most of the time, HRM department has taken care about the internal as well as external matters of the organization. In the case of multinational, it used matrix departmental format for maintaining exclusive service (Altenberg, 2008). Every organization has been expanding its business for a limited period (Yu, 2003). Therefore, at time, organizations use expansion selling to launch several new offers and discounts, which helps to maximize its economic state. In this context, Fairmont Royal York has been launching several discount packages at the season time for gaining maximum revenue (Yu, 2003). References Abeysekera, N., & Wickramasinghe, A. (2013). Relationship marketing and customer orientation of sales people: learning from banks, International Journal of Financial Service Management, 6(1), 79. Altenberg, L. (2008). Rethinking your marketing budget: investment or expense? Too much or too little? Tips for avoiding budget-setting sins, American Bar Association, 34(6), 40. Banerjee, S., & Soberman, David A. (2013). Product development capability and marketing strategy for new durable products, International Journal of Research in Marketing, 30(3), 276. Bolander, W., Fu, F. Q., & Jones, E. (2008). Product innovativeness, customer newness, and new product performance: a time-lagged examination of the impact of salesperson selling intentions on new product performance, Journal of Personal Selling & Sales Management, 28(4), 351. Choi, M. Y., Jun, T., Kim, B. J., & Kim, J. (2006). Network marketing on a small-world network, Physica A: Statistical Mechanics and Its Applications, 360(2), 493. Connor, T. (2005). Accentuating the positive: the selling arrangement, the first decade, and beyond. International And Comparative Law Quarterly, 54(1), 127-160. Dietz, B., Evans, K. R., & Jaramillo, F. (2012). Advancing sales performance research: a focus on five under researched topic areas. Journal of Personal Selling & Sales Management, 32(1), 89. Dixon, A. L., & Tanner, J. J. F. (2012). Transforming selling: why it is time to think differently about sales research. Journal of Personal Selling & Sales Management, 32 (1), 9. Duffy, D. L. (2005). Direct selling as the next channel. Journal of Consumer Marketing, 22(1), 43. FRHI, (2014). Fairmont Royal York, Retrieved from http://www.fairmont.com/royal-york-toronto/ Kumar, V., George, M., & Pancras, J. (2008). Cross-buying in retailing: Drivers and consequences. 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