Marketing of Marriott Residence Inn
Added on 2023-04-20
43 Pages7952 Words363 Views
Higher EducationLanguages and Culture
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Running head: MARKETING OF MARRIOTT RESIDENCE INN
Marketing of Marriott Residence Inn
Name of the Student
Name of the University
Author note
Marketing of Marriott Residence Inn
Name of the Student
Name of the University
Author note
1
MARKETING OF MARRIOTT RESIDENCE INN
Table of Contents
I. Executive Summary:....................................................................................................................8
II. Situation analysis:...................................................................................................................8
A. Current:...................................................................................................................................8
1. Demographic:..........................................................................................................................8
a. Occupation:............................................................................................................................10
b. Marital status:....................................................................................................................12
c. Ethnic Background:...........................................................................................................12
d. Education:..........................................................................................................................13
e. Age:....................................................................................................................................14
f. Income:...............................................................................................................................14
g. Children:............................................................................................................................16
2. Psychographics/Lifestyle:......................................................................................................16
a. VAL category or Family life cycle segment:.....................................................................19
3. Current User Profile document:.............................................................................................19
a. Consumption facts:............................................................................................................19
Influences:..............................................................................................................................19
Where Consumed:.................................................................................................................19
How Consumed:....................................................................................................................19
Frequency of use:...................................................................................................................20
MARKETING OF MARRIOTT RESIDENCE INN
Table of Contents
I. Executive Summary:....................................................................................................................8
II. Situation analysis:...................................................................................................................8
A. Current:...................................................................................................................................8
1. Demographic:..........................................................................................................................8
a. Occupation:............................................................................................................................10
b. Marital status:....................................................................................................................12
c. Ethnic Background:...........................................................................................................12
d. Education:..........................................................................................................................13
e. Age:....................................................................................................................................14
f. Income:...............................................................................................................................14
g. Children:............................................................................................................................16
2. Psychographics/Lifestyle:......................................................................................................16
a. VAL category or Family life cycle segment:.....................................................................19
3. Current User Profile document:.............................................................................................19
a. Consumption facts:............................................................................................................19
Influences:..............................................................................................................................19
Where Consumed:.................................................................................................................19
How Consumed:....................................................................................................................19
Frequency of use:...................................................................................................................20
2
MARKETING OF MARRIOTT RESIDENCE INN
Quantity used:........................................................................................................................20
b. Attitudes about:..................................................................................................................20
Quality:..................................................................................................................................20
Price:......................................................................................................................................21
Packaging:..............................................................................................................................21
Style:......................................................................................................................................21
Brand reputation:...................................................................................................................22
c. Consumer buying habits:...................................................................................................22
d. Consumer awareness of the brand (percentage):...............................................................22
e. Attitudes toward current advertising-perceptions, believability:.......................................22
f. What problems does the product solve for the consumers?...............................................22
Is the consumer aware of these benefits?..............................................................................23
g. Are consumers brand loyal or switchers?..........................................................................23
B. Geographic Emphasis:..........................................................................................................23
C. Seasonality:...........................................................................................................................23
D. Product Evaluation:...............................................................................................................24
1. Product history:......................................................................................................................24
2. Sales history:..........................................................................................................................24
3. Pricing:...................................................................................................................................24
4. Distribution:..........................................................................................................................24
MARKETING OF MARRIOTT RESIDENCE INN
Quantity used:........................................................................................................................20
b. Attitudes about:..................................................................................................................20
Quality:..................................................................................................................................20
Price:......................................................................................................................................21
Packaging:..............................................................................................................................21
Style:......................................................................................................................................21
Brand reputation:...................................................................................................................22
c. Consumer buying habits:...................................................................................................22
d. Consumer awareness of the brand (percentage):...............................................................22
e. Attitudes toward current advertising-perceptions, believability:.......................................22
f. What problems does the product solve for the consumers?...............................................22
Is the consumer aware of these benefits?..............................................................................23
g. Are consumers brand loyal or switchers?..........................................................................23
B. Geographic Emphasis:..........................................................................................................23
C. Seasonality:...........................................................................................................................23
D. Product Evaluation:...............................................................................................................24
1. Product history:......................................................................................................................24
2. Sales history:..........................................................................................................................24
3. Pricing:...................................................................................................................................24
4. Distribution:..........................................................................................................................24
3
MARKETING OF MARRIOTT RESIDENCE INN
a. Current distribution channels:............................................................................................24
b. Distribution geography:.....................................................................................................24
c. Average retail shelf facings:..............................................................................................25
d. Where is the product located/positioned in stores?...........................................................25
e. Do distributors like the product? The company?...............................................................25
f. Do they gladly allow the space for displays?.....................................................................25
g. Is there an out-of-stock problem for retailers?..................................................................25
h. Does the brand use ‘push’ or ‘pull’ sales promotion?.......................................................26
5. Current product brand character............................................................................................26
a. Is current pricing acceptable to consumers?......................................................................26
b. Product ingredients? Quality? Construction?....................................................................26
c. Is packaging functional and convenient?...........................................................................26
d. How does product performance compare with competitors?............................................26
e. What consumer problems does the product solve?............................................................26
f. What is the overwhelming consumer benefit?...................................................................26
E. Creative Requirement (if any)...............................................................................................27
F. The Competition:...................................................................................................................27
1. Marketing Strengths and Weaknesses:..................................................................................27
a. Number and type of competitors:......................................................................................27
b. Major competitors’ market shares:....................................................................................27
MARKETING OF MARRIOTT RESIDENCE INN
a. Current distribution channels:............................................................................................24
b. Distribution geography:.....................................................................................................24
c. Average retail shelf facings:..............................................................................................25
d. Where is the product located/positioned in stores?...........................................................25
e. Do distributors like the product? The company?...............................................................25
f. Do they gladly allow the space for displays?.....................................................................25
g. Is there an out-of-stock problem for retailers?..................................................................25
h. Does the brand use ‘push’ or ‘pull’ sales promotion?.......................................................26
5. Current product brand character............................................................................................26
a. Is current pricing acceptable to consumers?......................................................................26
b. Product ingredients? Quality? Construction?....................................................................26
c. Is packaging functional and convenient?...........................................................................26
d. How does product performance compare with competitors?............................................26
e. What consumer problems does the product solve?............................................................26
f. What is the overwhelming consumer benefit?...................................................................26
E. Creative Requirement (if any)...............................................................................................27
F. The Competition:...................................................................................................................27
1. Marketing Strengths and Weaknesses:..................................................................................27
a. Number and type of competitors:......................................................................................27
b. Major competitors’ market shares:....................................................................................27
4
MARKETING OF MARRIOTT RESIDENCE INN
c. Minor competitors’ market shares:....................................................................................27
d. Distribution, geography:....................................................................................................28
e. Retail shelf facing:.............................................................................................................28
f. Location of products in stores:...........................................................................................28
g. Distribution attitudes towards competitor:........................................................................28
h. Do competitors use ‘push’ and ‘pull’ sales promotion?....................................................28
2. Competitive Product Brand Character:..................................................................................28
a. Pricing policies:.................................................................................................................28
b. Product ingredients? Quality? Construction?....................................................................29
c. Packaging comparisons:.....................................................................................................29
3. Competitive advertising:........................................................................................................29
a. History (media used, creative themes, slogans, including examples):..............................29
b. Past advertising budgets (5 years, if possible)...................................................................29
c. Brand awareness for competition. Do consumers recognize the competition’s advertising
more than their own?.............................................................................................................30
d. Any weakness in the competition’s advertising?...............................................................30
III. Research:..................................................................................................................................30
A. Objectives:............................................................................................................................30
B. Strategies:..............................................................................................................................30
C. Methodology:........................................................................................................................30
MARKETING OF MARRIOTT RESIDENCE INN
c. Minor competitors’ market shares:....................................................................................27
d. Distribution, geography:....................................................................................................28
e. Retail shelf facing:.............................................................................................................28
f. Location of products in stores:...........................................................................................28
g. Distribution attitudes towards competitor:........................................................................28
h. Do competitors use ‘push’ and ‘pull’ sales promotion?....................................................28
2. Competitive Product Brand Character:..................................................................................28
a. Pricing policies:.................................................................................................................28
b. Product ingredients? Quality? Construction?....................................................................29
c. Packaging comparisons:.....................................................................................................29
3. Competitive advertising:........................................................................................................29
a. History (media used, creative themes, slogans, including examples):..............................29
b. Past advertising budgets (5 years, if possible)...................................................................29
c. Brand awareness for competition. Do consumers recognize the competition’s advertising
more than their own?.............................................................................................................30
d. Any weakness in the competition’s advertising?...............................................................30
III. Research:..................................................................................................................................30
A. Objectives:............................................................................................................................30
B. Strategies:..............................................................................................................................30
C. Methodology:........................................................................................................................30
5
MARKETING OF MARRIOTT RESIDENCE INN
D. Summary of Findings:..........................................................................................................31
IV. Problems and Opportunities:...................................................................................................31
V. Marketing Objectives:...............................................................................................................31
A. Current sales vs sales goals:..................................................................................................31
B. Current market share vs market share goal for next fiscal year:...........................................31
C. Current market penetration (percentage of all distributors carrying the products) vs
Penetration goal for the next fiscal year:...................................................................................32
VI. Marketing strategies:...............................................................................................................32
VII. Advertising creative:..............................................................................................................32
A. Creative strategy document (ROI):.......................................................................................32
B. Strategy- The Big Idea:.........................................................................................................32
C. Support for The Big Idea:.....................................................................................................33
D. Tone of Creative:..................................................................................................................33
E. Tactics-Samples/Mock-ups of Creative Executions:............................................................33
VIII. Advertising media:................................................................................................................33
A. Objectives:............................................................................................................................33
1. Target audience:.................................................................................................................33
2. Geography:........................................................................................................................33
3. Seasonality:........................................................................................................................33
4. Continuity. flighting etc.....................................................................................................33
MARKETING OF MARRIOTT RESIDENCE INN
D. Summary of Findings:..........................................................................................................31
IV. Problems and Opportunities:...................................................................................................31
V. Marketing Objectives:...............................................................................................................31
A. Current sales vs sales goals:..................................................................................................31
B. Current market share vs market share goal for next fiscal year:...........................................31
C. Current market penetration (percentage of all distributors carrying the products) vs
Penetration goal for the next fiscal year:...................................................................................32
VI. Marketing strategies:...............................................................................................................32
VII. Advertising creative:..............................................................................................................32
A. Creative strategy document (ROI):.......................................................................................32
B. Strategy- The Big Idea:.........................................................................................................32
C. Support for The Big Idea:.....................................................................................................33
D. Tone of Creative:..................................................................................................................33
E. Tactics-Samples/Mock-ups of Creative Executions:............................................................33
VIII. Advertising media:................................................................................................................33
A. Objectives:............................................................................................................................33
1. Target audience:.................................................................................................................33
2. Geography:........................................................................................................................33
3. Seasonality:........................................................................................................................33
4. Continuity. flighting etc.....................................................................................................33
6
MARKETING OF MARRIOTT RESIDENCE INN
5. Creative consideration:......................................................................................................33
6. Reach vs Frequency:..........................................................................................................33
B. Strategies:..............................................................................................................................34
C. Tactics:..................................................................................................................................34
1. Media Mix or not:..............................................................................................................34
2. Media Types:.....................................................................................................................34
3. Media Formats, Classes, Channels, Sections, Sizes, Colours:..........................................34
4. Geographic Use of Media:.................................................................................................34
5. Seasonal Use:.....................................................................................................................34
6. Flighting vs Continuity:.....................................................................................................35
IX. Sales Promotion:......................................................................................................................35
A. Objectives:............................................................................................................................35
B. Strategies:..............................................................................................................................35
C. Tactics:..................................................................................................................................35
X. Direct marketing Recommendations:.......................................................................................35
A. Objectives:............................................................................................................................36
B. Strategies:..............................................................................................................................36
C. Tactics:..................................................................................................................................36
XI. Interactive & Social Media Recommendations:......................................................................36
A. Objectives:............................................................................................................................36
MARKETING OF MARRIOTT RESIDENCE INN
5. Creative consideration:......................................................................................................33
6. Reach vs Frequency:..........................................................................................................33
B. Strategies:..............................................................................................................................34
C. Tactics:..................................................................................................................................34
1. Media Mix or not:..............................................................................................................34
2. Media Types:.....................................................................................................................34
3. Media Formats, Classes, Channels, Sections, Sizes, Colours:..........................................34
4. Geographic Use of Media:.................................................................................................34
5. Seasonal Use:.....................................................................................................................34
6. Flighting vs Continuity:.....................................................................................................35
IX. Sales Promotion:......................................................................................................................35
A. Objectives:............................................................................................................................35
B. Strategies:..............................................................................................................................35
C. Tactics:..................................................................................................................................35
X. Direct marketing Recommendations:.......................................................................................35
A. Objectives:............................................................................................................................36
B. Strategies:..............................................................................................................................36
C. Tactics:..................................................................................................................................36
XI. Interactive & Social Media Recommendations:......................................................................36
A. Objectives:............................................................................................................................36
7
MARKETING OF MARRIOTT RESIDENCE INN
B. Strategies:..............................................................................................................................36
XII. Flowcharts and schedules:......................................................................................................36
XIII. Budget:..................................................................................................................................36
XIV. Campaign evaluation:...........................................................................................................36
A. Objectives:............................................................................................................................37
B. Strategies:..............................................................................................................................37
C. Methodology:........................................................................................................................37
References:....................................................................................................................................38
MARKETING OF MARRIOTT RESIDENCE INN
B. Strategies:..............................................................................................................................36
XII. Flowcharts and schedules:......................................................................................................36
XIII. Budget:..................................................................................................................................36
XIV. Campaign evaluation:...........................................................................................................36
A. Objectives:............................................................................................................................37
B. Strategies:..............................................................................................................................37
C. Methodology:........................................................................................................................37
References:....................................................................................................................................38
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