Marketing Plan of Hilton Hotel : Assignment

   

Added on  2020-10-22

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Marketing Plan
Marketing Plan of Hilton Hotel : Assignment_1
Table of ContentsExecutive summary..........................................................................................................................1Main body........................................................................................................................................1Summary of business and the products........................................................................................1Competitive analysis and current situation..................................................................................1Strategic position statement and business model canvas.............................................................3Overall marketing budget. .........................................................................................................6Marketing operations...................................................................................................................9Conclusion ....................................................................................................................................10REFERENCES..............................................................................................................................11
Marketing Plan of Hilton Hotel : Assignment_2
Executive summaryMarketing plan is a strategy that organization make for upcoming year. These preparedplan help in performing business in a systematic manner. Marketing plans help the companies insetting up goals and objectives effectively and efficiently (Melchiorre and Johnson, 2017).Before making a plan by organization, it is monitored and measured in all situations andcondition of marketplace for gathering information after that an effective plan is made toimprove business growth and maximize the profits. Plan included about advertisements forpromotion and target market and audience. This report included the summary of business andtheir services since it was based on the hospitality industry. Competitive analysis included forknows about market situation and competition. This analysis has main purpose to knows andevaluate about competitors that present in market and provide same services. Main bodySummary of business and the products.Hilton hotel is a Hospitality industry that provide many types of services like lodging,food and drink services, event plan and accommodation (Punchihewa, Gunawardena and Silva,2017). Hilton hotel founded in 1919 by Conrad Hilton. Is headquarter located in McLeanVirginia in United states. Area served by this hotel at global level because it has 570 locationwith hotels in 85 countries. it provide services for all types of customers because many differenttypes of people take services and Many services provides by this hotel to tourist and peoples whovisit and wants to stay. Services like spa, bar, restaurant at reasonable rates. Hilton hotel andresort is largest hotel brand in world and all types f rooms like premium, deluxe and super deluxeavailable in this hotel so different types of people take different services from this organization.Competitive analysis and current situation.Competitive analysis is a strategy and tool that Hilton use for measure and monitorcompetition level in market. Through this strategy organization easily analysis performance ofcompetitors that present in market with same services and than compare top their ownperformance. That means all strength and weakness compare with other competitors becausethese things helps in improve performance and make better from them. After analysis and gatherinformation it make and prepare effective plan for increase profitability. Its competitor is JWMarriott and many other hotels that come in market and provide services for attract customers1
Marketing Plan of Hilton Hotel : Assignment_3
through effective advertisement and promotion. For analysis of competitors in market soorganization use and follow following steps :- Identifying direct and indirect competitors :- It is a beginning step for evaluation andthrough this step Hilton hotel analyze all their competitors who compete directly and indirectly.It includes all similar organization that they provide same services but all are different so someorganization give cheap cost services for attract to customers and satisfy same needs(Ramanathan, Ramanathan and Zhang, 2016). Hilton evaluate all competitors and gatherinformation about their strength and weakness.Competitor analysis criteria for market research :- After gather all data andinformation Hilton conclude and study to all data and search their main competitor who createbarrier in improve and increase profit. Porter five forces model helps in analyze about situationof competition and analyze Hilton competitive environment. This model includes five forces thathelps in evaluate strategy of company and profitability of organization in market. Following fiveforces includes in this model:- Competition in the industry :- This force means that number of competitors and ability of Hiltonto beat to them. If more and large numbers of competitors present in market with same servicesand same size so Hilton power reduce. The Hilton Worldwide competes with other premiumhospitality chains like Hyatt Regency, Marriott, Sheraton and Westin group therefore it hasbecome imperative for the company to achieve competitive advantage and increase market shareby using adequate marketing plan and strategies. Suppliers and buyers are also important fororganization because if they deal in systematic manner at lower price so Hilton easily grow inmarket and beat to competition. In low competition situation Hilton can charge high prices andmake profit.Potential of new entrants in industry :- Hilton's power reduce through increase in competitors inmarket that means new entrants increase day by day so its power reduces. With the use ofsuitable marketing plan and extensive market research Hilton Hotels can achieve an edge overthe new entrants and become a market leader. If less time and money available with Hilton sonew entrants easily make place in market and reduce power profit (Jambulingam, Joshi andKathuria, 2018). If organization has strong barriers so it easily stop to new entrants and changehigh price to customers for services and increase profit.2
Marketing Plan of Hilton Hotel : Assignment_4

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