Marketing Plan for Travelodge

Hanssens, D.M. and et.al., 2014. Consumer attitude metrics for guiding marketing mix decisions. Marketing Science.33(4). pp.534-550.
Dzhandzhugazova, E. A. and et.al., 2016. Innovations in hospitality industry. International Journal of Environmental and Science Education.
11(17). pp.10387-10400. Marketing plan
Executive Summary
Marketing plan helps in determining the strategies and ensuring the progress of entire
process. Demographic segmentation and differentiated targeting strategies applies in Travelodge
in order to promote business.
Marketing objective
The main objective of Travelodge is to increase its profitability and attract more
consumers towards the brand.
Situational analysis
SWOT
Strength:
Room rates are affordable.
As it is a budget hotel, deals and
promotions are attractive.
Weakness:
Does not provide whole range of product or
service as it is a budget hotel.
Having a more choices with customer, this
issue puts disadvantage to TRAVELODGE.
Opportunities:
Providing good environment protection.
As it is eco-friendly, it expand its market
and earns profit.
Threads:
Changes in political norms.
High composition in the market.
Porter’s five
Bargaining power of buyer high
Potential entrants moderate
Bargaining power of supplier low
Industry competitors high
Threat of substitute product. low
Marketing Mix
 Product: Premium rooms will be provided by Travelodge to its
consumers. Furthermore, WIFI, Gym etc. services will be
provided by business.
 Price: Entity will implement competitor pricing strategies. This
will help enterprise in gaining competitive advantage.
 Place: Travelodge will open its office in most visible place so that
more people can get attracted towards it.
 Promotion: Travelodge will take support of social networking sites
in order to promote its business across the world.
Segmentation, Targeting and Positioning
Entity will apply demographic segmentation strategy; this will help in providing
goods and services to consumers according to their needs. It will provide services and rooms
on the bases of age and family size. Travelodge will use differentiated marketing strategy.
It will use multi segment targeting strategy and will target consumers according to their
desires. Furthermore, cost positioning strategy will be used by Travelodge. It will
concentrate on minimising wasteful procedures so that cost can be minimised.
Financial plan
In order to promote the brand, entity will require investment of £25000. It will have
to pay salaries, rent and administration expenses. But it is expected that it will be able to
generate sales of £30000 in this fiscal year.
Controlling and monitoring
In order to control over the entire marketing plan, manager of Travelodge will
closely monitor the entire activities. Individual will take feedback from its employees
and consumers in order to identify actual performance of its products and services. This
will help in analysing effectiveness of existing practices and finding improvement areas.
Hanssens, D.M. and et.al., 2014. Consumer attitude metrics for guiding
marketing mix decisions. Marketing Science.33(4). pp.534-550.
Dzhandzhugazova, E. A. and et.al., 2016. Innovations in hospitality
industry. International Journal of Environmental and Science
Education. 11(17). pp.10387-10400.