Market Opportunities for Riverview Hotel

Running head: MARKETING MANAGEMENT
Marketing management
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1MARKETING MANAGEMENT
Executive summary
The aim of this report is to discuss about the market opportunities for Riverview Hotel in their
business operation. In doing so, this report discussed about the business objectives of them and
their existing target customers are also identified. The current marketing strategies of them are
also discussed. It is identified that their current marketing strategies are not effective in
increasing the future business viability. This report concluded that Riverview Hotel is having the
need for market development approach, which can help them to regain their lost position and
positioning as a global brand.

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Table of Contents
Introduction......................................................................................................................................3
Business objectives..........................................................................................................................3
Determination of the macro factors.................................................................................................4
Identification of the target customer................................................................................................5
Identification of the current marketing strategies............................................................................7
Current market trends......................................................................................................................8
Potential markets.............................................................................................................................9
Identification of the competitors......................................................................................................9
Identification of opportunities.......................................................................................................10
Conclusion.....................................................................................................................................10
Reference.......................................................................................................................................12

3MARKETING MANAGEMENT
Introduction
Marketing plays an important role in the current business scenario due to the reason that
effective marketing activities can help the business entities in meeting the customer expectations
and staying ahead than the competitors. In this case, it is important to design an ideal marketing
plan that will include all the important components. In the current business scenario, hotel and
hospitality sector is one of the most competitive with the presence of number of brands
(Leonidou et al. 2013). Moreover, with the rapid change in the preference pattern of the
customers, it is becoming more difficult for this industry to manage their viability. Riverview
Hotel is one of the leading five star branded hotels operating in Notown, USA. They are offering
premium services to the higher end customers and thus niche marketing is being followed by
them. However, the market is already competitive for them with the presence of number of
competitors and recent onslaught by the new entrants is further creating challenges for Riverview
Hotel (Oztamur and karakadilar 2014).
This marketing plan will discuss about the external business situation for Riverview
Hotel in terms of their operating sector. In addition, the current target customer segments will
also be discussed along with their current marketing strategies. This report will also discuss
about the market trends relevant for Riverview Hotel and their potential new segments. Based on
these factors, a few marketing opportunities will be identified for Riverview Hotel.
Business objectives
 To increase the existing market share by 5 percent within the next 1 year and gradually
achieving the vision of market leadership