Marketing & hospitality
Introduction to Marketing & hospitality
Marketing and hospitality is an exciting industry and it is very important in many companies and organisations. But what is it? Why does it matter and what has got to do with British horseracing? Read on…
What is marketing?
Marketing is concerned with creating a product or event that meets the particular wants and needs of a target market of customers, and then going about satisfying those customers better than any competitors. In the case of horseracing, the target customers would be those who would or might be interested in going to a racecourse to watch a race, and the competitors would be other racecourse owners who might have racecourses that are ‘better’ in some way than your own.
What does hospitality involve?
Hospitality is perhaps a bit more straightforward. It basically means organising events for customers – or potential customers – where you can entertain them and use this as an opportunity to get to know them better and discover what sorts of things they might want to buy from your company. It is also a great way to develop professional relationships. Some companies like to use racecourses as a way to entertain their clients.
Marketing and hospitality working together
Putting the two together, ‘marketing and hospitality’ in British horseracing often means:
- Helping companies to put on conferences, events and seminars for customers or potential clients.
- Offering companies deals where they can bring clients to the races and entertain them and discuss business opportunities.
- Encouraging other groups to come and use the hospitality facilities at the racecourse, which can be used for dinners for clubs and associations, awards ceremonies, wedding receptions, team-building events, school trips, car boot sales in the racecourse grounds, and much more.
Marketing and hospitality can also include promoting the racecourse itself and encouraging people to come to the course on race days.
Marketing and hospitality clearly has an important function and is vital to the success of any racecourse.
A Day in the life...
Read about a day in the life of a marketing and hospitality executive at a racecourse. She has a busy job, but it’s diverse, exciting and enjoyable. You’ll then be equipped with enough knowledge to complete a multiple choice quiz and also write about the skills involved in working in marketing and hospitality.
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