Hospitality Marketing Essentials

This presentation provides an overview of hospitality marketing essentials and how to create an effective marketing plan. It covers topics such as mission, vision, objectives, SWOT analysis, STP model, budgeting, monitoring, and controlling.

Hospitality Marketing
Essentials

Table of Content
 Introduction
 Marketing Plan
 Conclusion
 References

Introduction
Marketing refers to actions which is taken to promote goods and services that includes
market research and advertising. This power point includes a basic marketing plan
which is prepared for the purpose of formulating and evaluating a marketing strategy
in an enterprise to attain business goals. It includes vision, mission, objectives, SWOT
analysis, STP model, budgeting, monitoring and controlling.

Market Plan
Market plan is determined as a business document that helps in business strategy and
tactics. It consists of actions that an organization must take while formulating a
strategy. It includes cost, action, steps and goals towards which an organization can
achieve its objectives, goals and purposes. Marketing plan provides a road map to
business enterprise which makes it easy for an organization in identifying and outlining
marketing strategy that firm can utilize in future.

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Background- McDonald's is one of the largest fast food franchise of America that serves
in around 100 countries. It has around 37,855 restaurants and has 1.7 million
employees working in it. This organisation has maintained its brand image by
providing tasty fast food across countries and this is the reason this brand is loved by
people all over. McDonald's is launching Zero Calorie Virgin Mojito in its outlets.
Due to increase in number of health conscious customers, it is launching this product.

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For this purpose, a marketing plan is developed as follows-
Summary of market plan- This organization is famous for providing fast food to
its customers which has attracted large number of customers but at the same time
many health conscious customers do not visit there. Due to this it is launching its
new product Zero Calorie Virgin Mojito that is targeted for health conscious
customers.

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Mission
The mission of McDonald's is, “ To become favorite place for customers for eating and
drinking.”
Vision
Its long term vision is, “ To become the world's best quick service restaurant experience
in terms of quality, cleanliness, service, and value.”

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Objectives
 To enhance its market share by 10% in upcoming next year by indulging in various
promotional activities and providing this product at affordable price.
 To increase profitability and sales of a company by 15% in upcoming year by
providing high level of customer satisfaction.

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For formulating this marketing plan in an effective manner, McDonald's can use various tools
and techniques.
Strengths- The main strength of this organisation is that it has strong and easily recognizable
brand image at global level.
Weaknesses- The basic negative point which can be considered about McDonald's is that
most of its food items are unhealthy and are loaded with lots of sugar, carbs and fat.
.

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Opportunities- This organization has various opportunities available such as it can
upgrade menu and can offer premium products in some locations. It can also do
partnership with other beverages industry such as Starbucks or CCD.
Threats- The basic threat for this organization are other fast food outlets such as Subway,
Dominoes, Burger King, KFC, and so on in terms of price, quality, convenience, menu,
variety, and so on.

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STP Model
Segmentation- For launching Zero Calorie Virgin Mojito, it has segmented market of on
basis of geographic segmentation which is domestic as well as international.
Targeting- This product is targeted to health conscious customers who prefer healthy die
over fast food.
Positioning- It is creating and developing an image of a product in the mind of
customers.

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MARKETING
BUDGET ( ￡ )
PARTICULARS I Year II Year III Year IV Year V Year
Initial money 1000 6200 12300 14260 19970
Investment 9300 10500 23830 31630 13550
TOTAL 10300 16700 36130 45990 33520
MARKETING
OUTLAY
Promotion 4746 1459 4593 1875 1211
Sales publicity 1365 800 2452 1492 1050
Direct selling 2235 1900 4651 1000 4434
TOTAL 8146 4159 11896 4467 6405

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Monitoring and Controlling- In order to implement this marketing plan in an
appropriate manner, it is significant for an enterprise to monitor and control the
business performance from time to time. McDonald's is launching this new product
Zero Calorie Virgin Mojito that is targeting health conscious customers. For this
purpose, it is important for it to promote this product in an effective manner and
make customers aware about its availability. The tools that are used to monitor and
control this market plan are metrics and appropriate communication flow.

Conclusion
From the above presentation, it has been concluded that for adopting any marketing
strategy for achieving business objectives, it is important to formulate and develop an
effective marketing plan. This plan will list out the aims, objectives, goals, vision,
mission and budget for the organization It is formulated in an effective manner by using
tools such as SWOT analysis and STP model for identify company's competitive
advantage.

References
Vellas, F., 2016. The international marketing of travel and tourism: A strategic
approach. Macmillan International Higher Education.
Wirtz, J. and Lovelock, C., 2016. Services marketing. World Scientific Publishing
Company.

Thank you !!!