CH 19

Chapter 19 Next Years Marketing Plan
2006 Pearson Education, Inc. Upper Saddle River, NJ 07458
Marketing for Hospitality and Tourism, 4th edition Kotler, Bowen, and Makens
If you dont have a competitive advantage, dont compete. - Jack Welch At Preferred Hotels & Resorts, we believe that the product preferences of affluent customers are as diverse as the consumers themselves. - Peter Cass
Marketing Marketing for Hospitality for Hospitality and Tourism, and Tourism, 4th edition 4th edition Kotler, Kotler,Bowen, Bowen,and andMakens Makens
Chapter Objectives
Know why it is important to have a marketing plan and be able to explain the purpose of a marketing plan Prepare a marketing plan following the process described in this chapter
Purpose of a Marketing Plan

Provides a road map for all marketing activities of the firm for the next year Ensures that marketing activities are in agreement with the corporate strategic plan Forces marketing managers to review and think through objectively all steps in the marketing process
2006 Pearson Education, Inc. Upper Saddle River, NJ 07458 Marketing Marketing for Hospitality for Hospitality and Tourism, and Tourism, 4th edition 4th edition Kotler, Kotler,Bowen, Bowen,and andMakens Makens
Purpose of a Marketing Plan

Assist in the budgeting process to match resources with marketing objectives Creates a process to monitor actual against expected results
Marketing Plan Sections

I. II. III. IV. Executive Summary Corporate Connection Positioning Statement Environmental Analysis and Forecasting V. Segmentation and Targeting VI. Next Years Objectives
Marketing Plan Sections

I. Resources Needed to Support Strategies and Meet Objectives II. Marketing Control III. Presenting and Selling the Plan IV. Preparing for the Future
Section I: Executive Summary

Write it for top executives Limit the pages to between two and four Use short sentences and paragraphs. Avoid using words that are unlikely to be understood

Organize the summary as follows: describe next years objectives in quantitative terms; briefly describe marketing strategies to meet goals and objectives, including a description of target markets; describe expected results by quarter; identify the dollar costs necessary, as well as key resources needed

Read and reread the executive summary several times. Modify and change the summary until it flows well, is easily read, and conveys the central message of the marketing plan
Section II: Corporate Connection

Relationship to Other Plans Corporate goals with respect to profit, growth, etc. Desired market share Positioning of the company or of its product lines

Relationship to Other Plans Vertical or horizontal integration Strategic alliances Product line breadth and depth Customer relationship management (CRM)

Marketing Related Plans Sales Advertising and promotion Public relations and publicity Marketing research Pricing Customer service

Corporate Direction Mission Statement Corporate Philosophy Corporate Goals
Section III: Environmental Analysis and Forecasting

A marketing plan should provide a positioning statement of how the enterprise intends to differentiate position itself in the marketplace

Major Environmental Factors Social Political Economic

Competitive Analysis Market Trends Visitor Trends Competitive Trends Related Industry Trends

Market Potential should be viewed as the total available demand for a hospitality product within a particular geographic market at a given price

Market Research Macromarket information Industry trends, social-economic political trends, competitive information, industry wide customer data

Market Research Micromarket Information Guest information, product/service information, new product analysis and testing, intermediary buyer data, pricing studies, key account information, advertising/promotion effectiveness
Section IV: Segmentation and Targeting

Segmentation Analysis is the selection of segments as the result of Understanding what the company is and what it wishes to be Studying available segments and determining if they fit the capabilities and desires of the company to obtain and secure them
Section IV: Segmentation and Targeting

Targeting Begins by defining the mix of desired guests support the positioning strategy of the company support revenue management Selected from the list of available segments
Objectives Must be quantitative, time and profit/margin specific Established after considering corporate goals, corporate resources, environmental factors, competition, market trends, market potential, available market segments and possible target markets
Section V: Next Years Objectives and Quotas
Section V: Next Years Objectives and Quotas

Quotas must be: Based on next years objectives Individualized Realistic and obtainable Broken down to small units Understandable and measurable
Section VI: Action Plans: Strategies and Tactics

Marketing strategies and tactics employ advertising and promotion, sales and distribution, pricing and product Must be custom designed to meet the specific needs of a company Must allow companies to meet or exceed objectives

Sales Strategies Prevent erosion of key accounts Grow key accounts Grow selected marginal accounts Eliminate selected marginal accounts

Sales Strategies Retain selected marginal accounts but provide lower-cost sales support Obtain new business from selected prospects

Advertising and Promotion Strategies Select a blend or mix of media Select or approve the message Design a media schedule showing when each medium will be employed Design a schedule of events

Advertising and Promotion Strategies Carefully transmit this information to management Supervise the development and implementation of advertising/promotion programs Assume responsibility for the outcome

Pricing Strategies Pricing is a function of marketing Fencing is placing restrictions on customer segments selected due to their perceived level of price elasticity
Section VII: Resources Needed to Support Strategies & Meet Objectives

Personnel Other Monetary Support Research, Consulting, and Training Miscellaneous Costs Budgets
Section VIII: Marketing Control

Sales Objectives Sales Forecast and Quotas Expenditures against Budget Periodic Evaluation of All Marketing Objectives Marketing Activity Timetable Readjustments to Marketing Plan
Section IX: Presenting and Selling the Plan

Members of marketing/sales departments Vendor/ad agencies and others Top management
Section X: Preparing for the Future

Data Collection and Analysis
Marketing as a Tool for Growth
Key Terms
Competitive analysis
Environmental factors Executive summary Market potential
Best Practices
Preferred Hotels and Resorts Worldwide Rittenhouse Hotel, Philadelphia
Seabourn/Windstar Cruises
Key Terms
Market trends Marketing objectives
Quotas
Segmentation analysis Timetable

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Chapter 19 Next Years Marketing Plan

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Purpose of a Marketing Plan

Purpose of a Marketing Plan

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Marketing Plan Sections

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Marketing Plan Sections

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section I: Executive Summary

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section I: Executive Summary

Section I: Executive Summary

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section II: Corporate Connection

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section II: Corporate Connection

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section II: Corporate Connection

Section II: Corporate Connection

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section III: Environmental Analysis and Forecasting

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section III: Environmental Analysis and Forecasting

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section III: Environmental Analysis and Forecasting

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section III: Environmental Analysis and Forecasting

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section III: Environmental Analysis and Forecasting

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section III: Environmental Analysis and Forecasting

Section IV: Segmentation and Targeting

Section IV: Segmentation and Targeting

Section V: Next Years Objectives and Quotas

Section V: Next Years Objectives and Quotas

Section VI: Action Plans: Strategies and Tactics

Section VI: Action Plans: Strategies and Tactics

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section VI: Action Plans: Strategies and Tactics

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section VI: Action Plans: Strategies and Tactics

Section VI: Action Plans: Strategies and Tactics

Section VI: Action Plans: Strategies and Tactics

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section VII: Resources Needed to Support Strategies & Meet Objectives

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section VIII: Marketing Control

Section IX: Presenting and Selling the Plan

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

Section X: Preparing for the Future

Marketing as a Tool for Growth

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

2006 Pearson Education, Inc. Upper Saddle River, NJ 07458

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