Marketing Plan of Travelodge : Assignment
Added on - 23 Nov 2020
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Marketing plan of TravelodgeIt is very important for an enterprise to select the best channel for promotingbrand, products and services. In context of Travelodge company, businessentity has planned to utilize digital platform such as social media for generatingawareness about products and services. Direct Marketing technique will beused by firm for promoting brand. This marketing technique has been used byan enterprise, as marketing perceives that this strategy of promotion will help indeveloping strong relationship with customers. It will assist business entity inimproving public relations which is very crucial in order to increase sales andprofitability. In addition to this, Travelodge has planned to organize marketingcampaign for promoting products and services.Overview of an organization: Travelodge is private limited organizationoperating business in the hotels and hospitality industry. It is the second largest in the budget hotel sector.Product portfolio analysis:products or services offered by Travelodge are considered as the product with high relativegrowth and market share. Around 816,000 new customers have been acquired by the product in the quarter of 2013. Thismeans the product is covering the high market share in the industry.1.Competitors analysis:As Travelodge company is operating in hospitality industry business entity has to facestiff competition. An organization has to face competition from international organization.2.Marketingobjectives: Firm has objective to increase sales, profitability and market share.3.Strategies:It is required by the company to use social media for promoting goods. An organization is requiredto make investment in providing training to its employees and need to bring improvement in customer servicedepartment.Segmentation, target and positioning:Market segmentationis defined as the classification of the entire market. In contextof Travelodge organization, an organization offers accommodation and restaurantservices, and as a result, the market can be segmented into business class and leisureclass customers.Targeting: it is very much essential in order to foster growth. In context ofTravelodge, services offered by an enterprise are specifically designed for satisfyingboth the business class and leisure class customers.Positioning: This strategy aimed at creating an image in the minds of people.Positioning strategy of Travelodge aims to promote it as the best quality provider ofaccommodation and restaurant services to travelers.Budget:Total marketing programsInvestmentPartner marketing40000Digital strategies20000Events140000Product marketing40000Field marketing340000It has been suggested to marketing manager in a firm to develop promotional plan considering thedemand of customers as well as the strategies adopted by competitors for attracting consumers.