Report on Marketing plan for Hilton Hotel 1 Table of Contents Introduction β.............................................................................................................................2 Marketing plan for Hilton hotel β..............................................................................................2 Conclusion β...............................................................................................................................4 References β...............................................................................................................................6
Report on Marketing plan for Hilton Hotel 2 Introduction β Marketing plan refer as strategy and plan which outlines the companyβs efforts towards marketing and advertising in the next coming years. Marketing plan includes situation analysis, marketing strategies, targeting, market segmentation, positioning of the company in the market, marketing mix and implementation and control of the above strategies which madebythecompany(Meredith,2016).Ithelpsinincreasingtheproductivityand performanceoftheorganization,maximisingitsrevenueandprofits,improvingtheir business, increasing their growth for long run and achieiving the marketing goals and objectives of the organization. Hilton hotel has unique marketing plan which helps the company to meet the goals and objectives of the marketing (Kapferer and Bastien, 2009). The report consists of marketing plan for Hilton hotel to achieve its marketing goals and objectives. Marketing plan for Hilton hotel β Marketing objectives of Hilton hotel β Goals and objectives of Hilton hotel is to maximize revenue and exposure though online and offline mode and to increasing profitability through variousmarketingstrategies.Companyβsanotherobjectiveistoprovidehighquality customers services, identify the new market and increasing the number of customers (Hilton Annual report 2017). Marketing plan and strategy will help in achieving the marketing goals and objectives of the organization, it will focus on maintain loyalty of customers and building strong relationship with them. So, marketing plan includes the following elements which help the company in achieving their marketing objectives: 1.Target Market β For every company, choosing the right target market is important for achieving their goals within their target market and it also helps in implementing promotional activities. Target market refers as a set of customers who share same needs and expectations which organization decides to serve. Hilton hotel can target market as per their market segmentation as on the basis of geographic segmentation, they should focus on the local preferences of their customers, on the basis of demographic segmentation, they can target middle and senior aged customers with high level of income and class, on the basis of psychographic segmentation, they can
Report on Marketing plan for Hilton Hotel 3 target ambitious customers who prefer 5 star rooms and able to pay premium price and on the basis of benefits segmentation, company can target for the benefits to their existing and potential customers. Apart from this, they target upscale and professional traveller and they should target transient segment (Kolb, 2016). 2.Identify the competitors β After set target market the next step has to be identifying the competitors of the organization which includes types of products or services which are offered by them, how they target its customers and their strategies or tactics. So, there are various competitors of Hilton hotel as Marriott, Hyatt, Aman, Mandarin Oriental and Intercontinental (About US, 2019). 3.Marketing mix β After identifying their competitor then company has to set their marketing mix to gain competitive advantages, minimizing their cost of operations, maximising revenues and profits and achieving their marketing objectives and goals. Marketing mix is an essential part of marketing plan and it includes product, place, price, people, process, promotion and physical evidence (McDonald, Frow and Payne, 2011). Hilton hotel can use different tactics or strategies with respect to the all elements of the 7Ps marketing mix as: ο·Product β Hilton offers products or services as per the needs and expectations oftheircustomersandserviceswhichwillgiveauniqueorseamless experience to its customers. They can also offer additional benefits to their customers as laundry services, entertaining programs, transportation services and disc or clubs in the hotel. ο·Price β They can segment their prices as per the quality of services. They should give complementary benefits as insurance, membership facilities to their guests. Company should try to maintain its services prices less than its competitors, so it will help the company in gaining competitive advantages. ο·Place - Company can locate its business or hotels near airports, government departments and at the centre of cities, so they can cover large geographical are and maximising awareness of their products or services among large number of customers. ο·PromotionβCompanycanparticipateinvariousprogramsandtrade exhibitionindifferentlocationsandcollaboratedwithlargenumberof airlines, tour promoter and restaurants in whole world. They can also promote
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Report on Marketing plan for Hilton Hotel 4 their business through various social media platforms and their websites and also maintain strong relationship and maintain partnership with outsiders. ο·People β Hilton hotel should motivate and encourage their staffs by rewards, by conducting various programs for them and other related benefits andthey should also provide training to them which help them in increasing their performance and productivity. ο·Process β Company has largest chain in whole world due to its effective supply chain management and distribution system. They can adopt green method or eco- friendly and implement various online agencies or websites, so it will help in increasing their customers and productivity. ο·Physical Evidence β Company can provide various facilities in their hotels as complementaryfoodsorservices,freeWi-Fi,effectiveenvironment, customers services and driver facilities for high class customers. 4.Monitoring and control - Hilton can monitor their performance by primary research as well as through secondary research. Secondary research can be done by online and electronic media, which help in understand the customerβs perception towards their servicesorproducts.Primaryresearchcanbedonebythecompanythrough questionnaires which will use by the company to encourage feedback from its customers (Gaillet and Eble, 2016). They will be requested to its customers to fill questionnaire and to share their needs and expectations from the company. They can also measure their performance through continuous interaction with the customers, so it helps in monitoring the level of satisfaction of customers. They can also use test marketing for intruding their new product or services to the customers as they can use market survey. After monitoring the performance of the company then if there is any difference between actual performance and expected performance then company need to control such differences, so it will help them in improving their performance and achieving their goals and objectives effectively and efficiently (Chemev, 2014). Conclusion β Hence, marketing plan is an important for every organization to maximising their revenues and profits and to achieve their marketing goals and objectives. There are various steps which are included in marketing plan as firstly analysing the marketing objectives, target the market, Identify the competitors and its effects on the business, set up various marketing
Report on Marketing plan for Hilton Hotel 5 strategies related to product, place, price, people, process, promotion, and physical evidence and then after implementation of strategies then monitoring and controlling the performance of the company. So, the above marketing plan will help the firmin increasing their customers, maximising their performance and productivity, reducing their cost, growing their business in long run and achieving their goals and objectives effectively and efficiently.
Report on Marketing plan for Hilton Hotel 6 References β Chemev, A. (2014)The Marketing Plan Handbook. United State of America: Cerebellum Press. CorporateReport(2017)AnnualReportofHilton2017[Online].Availablefrom: http://www.corporatereport.com/hilton/2017/ar/[Accessed 11/04/2019] Gaillet, L. and Eble, M. (2016)Primary Research and Writing: People, Place and Spaces. New York: Routledge. Hilton(2019)AboutUS[Online].Availablefrom: https://www3.hilton.com/en/about/hilton/index.html[Accessed 11/04/2019] Kapferer, J. and Bastien, V. (2009)The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands. United Kingdom: Kogan Page Limited. Kolb, B. (2016)Marketing Strategy for Creative and Cultural Industries. United Kingdom: Routledge. McDonald, M., Frow, P. and Payne, A. (2011)Marketing Plans for Services: A Complete Guide. United Kingdom: Wiley Publishing. Meredith, L. (2016) Multiple marketing: an analytical template.Journal of Business & Industrial Marketing, 31(4), pp.519-530.
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