This document provides an overview of marketing management and its application in the case of Travelodge. It covers topics such as marketing audit, objectives, marketing mix, and customer service recommendations.
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MARKETING MANAGEMENT
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Table of Contents INTRODUCTION.......................................................................................................................................3 Overview of Company.............................................................................................................................3 TASK 1.......................................................................................................................................................4 Marketing Audit......................................................................................................................................4 Importance of Marketing Audit...............................................................................................................4 TWOS Analysis.......................................................................................................................................4 TASK 2.......................................................................................................................................................6 Marketing Objective................................................................................................................................6 Objectives of Travelodge.........................................................................................................................7 SMART Plan for Travelodge...................................................................................................................8 TASK 3.......................................................................................................................................................9 Marketing Mix.........................................................................................................................................9 Marketing mix for Travelodge...................................................................................................................10 TASK 4.....................................................................................................................................................11 Customer Service...................................................................................................................................11 Recommendation to improve customer service in hotels.......................................................................12 CONCLUSION.........................................................................................................................................13 REFERENCES..........................................................................................................................................14
INTRODUCTION Marketing management refers to a practical application that is marketing oriented, methods and techniques inside a business.It is planning,controlling implementingandorganizingof marketing programs by which the customer demand gets satisfied. It employs tools by competitive strategy in order to analysis firm operations. This is a process by which products andservices areintroduced to the potential customers. The process includesadvertisement, promotions public relation etc. It is activity of managing marketing resources. It drives on the basis of five concepts which are: production, selling, product, societal and marketing. By this firm is able take competitive advantage. Marketing plan means a comprehensive documentary which outlines marketing and advertising efforts for the next year. This describeactivatesof business that involved foraccomplishmentof marketing objectives in the given time period. This describes the current marketing strategies andposition of a business. This indicates which market will be targeted and specifiescurrentcustomer’sneeds. It is an overview of marketing tactics in order to increase sale of the firm and to earn higher profitability. This have included marketing strategy, situational analysis,and expensebudget and forecasting. For stages of marketing life cycle are growth, introduction, decline and maturity. Sometimes it also covers the manager’sresponsibilities and duties. It indicates thestrategiesof brand, promotional, actions and deadlines of the projects of marketing. This contains objectives of sales targets. The report is based on Travelodge. The study will give a brief overview of the company. Then it willexplainmarketingauditanditssignificance.Furthermore,Towsanalysiswillbedonefor Travelodge. It will set 3 objectives of marketing for the firm with the help of SMART plan. Moreover, 7ps of marketing mix will be explained. Lastly, study will provide summary and recommendations in order to improve customer service in the company. Overview of Company The company was established in 1985 in Thames, England, UK by Charles Forte with a motive of number of branches all over the UK. The company has over 500 hotels in UK, 11 hotels in Ireland and 5 hotels in Spain. The company is continuing its diversification since establishment. .
TASK 1 Marketing Audit Definition- It refers to a comprehensive, systematic, evaluation, analysis and interpretation of the marketing environment of the business, either internal or external. It also includes evaluation of goals, strategies, and objectives, principles to ascertain all the areas of opportunities and problems and to make an action plan for future accordingly. It must be checked that marketing audit should be comprehensive and systematic by which the no aspect of problem or opportunity should be neglected (Grant, 2019). Importance of Marketing Audit Marketing audit is important as it helps the company to know his assets deeply by which the company can use his assets to the greatest of their efficiency (da Silva. and Las Casas, 2018). Marketing audit helps to evaluate the organizational by which a company will be able to know which work is done and which is still pending to gain effectiveness. Marketing audit helps in finding the hidden inefficiencies that can be big cause 9f failure. Also it helps in separating the efficient and inefficient workers. It also helps in making strong strategies and plans for future by evaluating and analyzing the financial budget of the company. Ithelpsinmakingrightdecisiononrighttimewhichcanbebeneficialfor the organization rather than using hit and trail approach. TWOS Analysis Meaning- TWOS Analysis is an extension of SWOT analysis that focus on identifying the strengths, weaknesses, threats and opportunities. It not only evaluates these four but also looks for matching the strengths with opportunities and weaknesses with threats. It also establishes the relation between the internal and external factors, which makes it more beneficial and important. The main purpose of TWOS analysis is to take the advantages of opportunities, exploit strengths, remove weakness and reduce threats. TWOS Matrix is a relatively simple tool of establishing strategies that are used after detailed analysis of all the threats, opportunities, strengths and weaknesses.
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StrengthsWeakness OpportunitiesAs Travelodge offers very low affordablepricesandnow healthyenvironmentisa priorityofvisitorssothis would be a perfect match of the opportunity that has been grabbedbythecompanyas thehotelsareusingfully organicitemsandthe environment is healthy. Also thecompanyhasastrong goodwillinthemarketand mostlyallvisitorspreferto stayinhishotelsthatalso makeatrustofcustomers upon the company, for long survival in market. This is a perfect match of strength with opportunities as a result of the analysis. CompanieslikeTravelodge mostly earn positive feedback andthereforeanegative feedback can damage it’s all reputation in the market. As the company has a weakness that it does not provide room services, and this is very risky asifanynegativefeedback comes, then all the hard work thecompanyisdoingfrom past years will go in vain due tojustoneminorweakness (Lindgreen and Di Benedetto, 2018). This can be overcome asmatchingweaknesswith opportunity can be helpful bas thecompanyhasastrong recoverybasefornegative feedbacks. ThreatsAs the major strength of the company is that it offers very affordableprices,including alltypesofrooms,andthe biggest threat for the company isthat,hospitalityis increasingdaybydayand manycompetitivesectors provides many hotels from 1 Travelodgemainlyrunshis businessinUKandIreland countries, this makes it a risky businessasmanyother organizationsprovidefull hygiene but at high prices and bythesevisitorshaveno choice.Matchingthethreats withweaknesshelpsthe
start to 5 but are having very high unaffordable prices (Di BenedettoandLindgreen, 2018). This makes it a benefit for the Travelodgecompany asitisprovidingdifferent varietiesofroomswithfull hygiene, and providing these roomsataffordableprices makesthecompanyfreeof this threat. organization to focus on his weaknesses and also if it will notthentheyarewaiting ahead,thismakesthefirm efficient and effective. So the benefitsofthisanalysisare more, also the employees can also be able to understand the threatsand weaknessesin a early stage. TASK 2 Marketing Objective Meaning- It refers to the goals set by an organization when it starts promoting its products or services to efficient and potential consumers that should be achieved in a given period of time. In simple words marketing objectives are the marketing strategies that are to be achieved with the given time period. Importance of objectives in business By setting goals and objectives of in a business one knows for what he is working for and what he has to achieve to earn maximum profit, in simple words they are general guidelines for a business man and his employees (Naudé and Sutton-Brady, 2019). Objectives helps in motivating the employee by making them sure of for what goal they are working for, it gives the employees a sense of right direction for the success. Making objectives facilitates business planning, it makes the work of superior to manage the financial Budget of the firm as, he will know about the end result that has to be achieved.
It also reduces wastage of resources as the workers will already know about the end result and will work upon it with less possible cost to achieve the goal with effectiveness and efficiency. Objectives of Travelodge Travelodge wants to increase its customers. To improve hotel services of Travelodge. To increase brand value of the company. SMART Plan It is an acronym for the five elements of measurable, achievable, relevant, specific and time- based goals. Specific- Specific refers to what exactly a company wants to achieve and what the company wants its employees to do. It is a simple and brief statement of what the company wants as its end result (Kotler, 2019). Measurable- This is considered as one of the most important attribute. The objective of a company must be quantifiable so that company is able to measure the amount of outcome that it can achieve. Achievable- The goals of a company must be challenging but still be attainable. A company must not set its goal to low and also not too high (Baker and Parkinson, 2016). Relevant- The goals of company must be relevant to the nature of his business. An organization should not set goals which are not matching to the nature of his business. Time-bound- A company mast set a deadline for the completion of pre-planned goals and objectives as because without a deadline they will be drag on forever with number of excuses (SMART Goals, 2020). SMART Plan for Travelodge ObjectivesSpecificMeasurableAttainableRelevantTime bound Toincrease thecustomers of Travelodge Toincreasethe customers base of Travelodge. Toincrease customers andclients ofthe Thecompany willachieve thisgoalby giving Byincreasing thecustomers. Thecompany isableto Upto30 January 2021.
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company up to 50%. customers special discounting offers.The companywill introduced comboholiday packagesin which they will offerholiday tripand accommodation together basis. capturehigh marketshare (Zaefarian, Kadileand Leischnig, 2017). Toimprove hotel services Thecompany wantstogives betterhotel servicestoits clients. This will be measured byseeing customers reviewon official websiteof Travelodge andask themto provide feedbackto each customer who stays in hotel. Thecompany will improve its hotel service by connecting with customers onpersonal level.For makingfuture decisionsthey willrefer customers feedbackand trytonever repeatthat mistakeor issue again. Through improving hotelservices Travelodgeis able to increase itsgoodwill and simultaneously sales will also boosts. Upto30 November 2020. Toincrease brand value. Travelodgewants toincreaseits brand value. The company workuse webtraffic Bydesigning logoofthe companyand tieupwitha Popularityof Travelodge getsincreased by tie up with Increasein brand value till February
andsocial media trackingto measure the brandvalue ofthe company. travelbrand. By doing work witha collaborate brandpeople willgetto knowabout Travelodge. The company is going to Tie up withTrafalgar it is a renowned tour operator. Trafalgar. This is tour operator it will suggest customers aboutthe hotelsof Travelodge. Hence,inthis waysalesof thecompany get increased. 2021. TASK 3 Marketing Mix Meaning- It refers to a set of actions, or tactics that a company uses to promote its product in the market. These seven marketing mix make up a typical value which enables a Manager to increase its sale to high limits (What the Marketing Mix Is and Why It's Important. 2019). Reason why marketing mix used in a business The seven marketing mix are used in business to identify key factors such as how the production meets or fails to full fill needs of the consumers, what are needs and wants of the consumers, how people react after consuming the product, how their product is competitive and different from others, etc. These are some major reason that forces a businessman to use the marketing mix to ensure proper satisfaction of consumer wants and to earn maximum amount of profit (Johnsen, 2018). This will help the firm to survive for a long period of time in the competitive market.
Marketing mix for Travelodge Product- The Travelodge can open its taxi service by launching app in order to provide reasonable taxi services to its client. The customers who are already staying in their hotel rooms get benefited from this service. This taxi service will provide sight seen facility to its clients. By this customer loyalty gets increased. Travelodge will also include a new feature in its existing app named as points for your experience. In this customers are able to give points from out of 10 in order to improve hotel service. Thus, through this company is able to improve its customer experience. Price- The Company will use pricing penetration strategy. In this price of the products are initially low but later on its increases the price. The price of this taxi fare will initially be reasonable later on they increase the price. Once the company captures large market of potential customers, later on price of products of Travelodge gets increased (Quelch, 2017). Place-Travelodge is planning to do expansion of their business at international level. Hence they will open up new hotels in Europe. In which they will choose the areas near to the roads and the main entrance of the cities. By choosing this they are able attract large number of audience. Every new traveler or tourist passes across the roads or main entrance of the city they will definitely see the board of Travelodge. They will surely visit once they see hotel near the road. Promotion- Travelodge will do promotion through social media channels. There is huge audience who are active on social media platform. Travelodge is able to attract large number of customers by social media channels. Company will also provide combo offers in which travelling and accommodation services both will be combined. This combo offers are given with special offers in hotel promotional campaigns. Thus, through this customer base in the company gets increased (Obradović, Kostić and Mitrović, 2016). People- The people in Travelodge are the shareholders, government, employees, suppliers and community. Shareholders refer as owner for Travelodge as they invest large amount of capital through which the organization is able to expand its business internationally. Firm is planning to do expansion in Europe. Thus, they need to follow the rules and laws of Europe for doing expansion. The firm is giving training to its employees so that they are able to provide better room services to its clients. The company will remain direct in touch with their suppliers through
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its online app so that there is timely delivery of resources. Travelodge will also follow the community guidelines of local environmental activists of Europe so that there goodwill will not decrease. TASK 4 Customer Service Customer service is the type of assistant which is provided by enterprise to the people who buy their products and services. To take care of the customer’s needs and delivery them high quality services for meeting the desired wants of them. (Kotler, Keller and Leong, 2018). This is helpful to increase customer base. To resolve the customers problems and issues customer service is essential. It is a type of support that company offers to their customers. To grow business and retain the loyal customers customer service is important. Customers services role are as follows It helps to resolve the problems of customers through emails, phone, mail and social media. Travelodge also ask about regular feedback in order to do improvement in their hotel services.To greet their customers warmly and provide them better infrastructure and facilities. To assist the customers refunds, placement orders and exchanges. Travelodge also upgrades their customer’s accounts (Hollensen, 2019). Helps is cancellation of customer’s orders. The company answers the questions of the customers for giving those warranties and strict terms of sale. Travelodge helps their customers if any of the products of the hotel malfunctions. Todeliverypropercustomerservice,thecompanyhasassignedcustomerservice managers that deal with customer’s queries and issue (Chernev, 2018). To inform them about new product offerings and deals of discounting and vouchers for increasing the customer loyalty. Recommendation to improve customer service in hotels Every guest must be treated like special guest.
Training should be on every day basis not just for one time. Mobile application must include personalize feature by which every customer can take his room according to his comfort (Keegan, 2017) New employees must be always welcomed and not be rejecting without giving any chance. There should be proper audit and attendance of all the employees. There should be facility of room service The company must focus on hygiene and cleanliness. The company's staff should be respectful to other and should not abuse any customer. There should be all choices available as per the convenience of the customer. All the customers must be fully and efficiently satisfied. Comparison of service with Hotel Hilton Hilton has a facility of room service which lacks in Travelodge, Travelodge is a company which provides cheap quality products in hotel whereas Hilton provides quality products and with proper hygiene. The Hilton Company is providing transportation facilities as they are linked with the dealer's whereas Travelodge lacks this feature (Deepak. and Jeyakumar, 2019). The company must use the suggestion of room service parking facilities which can be helpful in increasing profit and all its customers will be fully satisfied and the company will earn a high Value of goodwill. The other two are not such important but must be followed if possible or can be neglected to a certain limit.
CONCLUSION It has been summarized from the above report that Marketing planning is crucial to assess the marketing operations and do promotional activates in order to earn higher profitability Marketing audit helps to analyses external and internal environment through which harmful areas of the business can be interpreted. Tows analysis is an interlinked of strengths, opportunities, threats and weaknesses. It has been concluded that a business need to set marketing objectives to increase the sales of its product. Travelodge is going to launch a new app for providing taxi services to its clients on reasonable rate. It has been concluded that company is planning to do market expansion of its business for which it is improving its customer service. Lastly it has been interpreted that customer service has crucial role to retain the customers towards the product.
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