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Report: Marketing Plan for One Fine Stay

Added on -2019-09-20

| 9 pages
| 2815 words

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One Fine Stay(Three year Marketing Plan)Introduction The Marketing plan is that comprehensive document that outlines the upcoming marketing strategies and advertising efforts. This plan aims to describe business activities that will be involved in achieving specific marketing objectives in a given time frame. An enhanced marketing plan also guides a marketer that in which direction he has to invest the company’s resources and talents in order to achieve a great success in the coming years and even retain a loyal relationship with myriads of stakeholders of the company. If a company succeeds in developing an efficient marketing plan, then there are possibilities that it may create an enhanced roadmap which could be followed to get unlimited customers and dramatically improve the brand identity of the firm in front of the current and potential customers. In the following report, great efforts have been put together to develop a three year marketing plan for One Fine Stay, a London- based Hospitality company. The firm was founded in the year 2009 with an idea of providing service to the owners of distinctive and up-market homeowners to let out their homes for the guests while they are unoccupied. The recent researches unveil that the company owns more than 2,500 private homes in its collection and has also become an activemember of the British Hospitality Association. Apart from its homeland, the firm also operates inLos Angeles, New York, Paris and Rome. This innovative idea has allowed the company to utilize the empty yet beautiful, well-appointed and truly inviting homes, to provide an entirely new experience to the tourist and visitors in such foreign lands. The report has been precisely divided into three segments, each dealing with three independent tasks. The first task analyzes the Environmental Appraisal factors and methodologies for the considered company. In the second task, there has been a suggestion of the two potential target markets for the company and in the last task the Marketing Mix for each of the market is suggested. 1 Environmental Appraisal Analysis for the company in the UK marketEnvironment Appraisal is carried out to analyze all the related factors of the business environments. This process is performed in order to evaluate the available opportunities and risksin the markets. The environment of any organization is defined as the aggregate of all the possible conditions, events and influences that surround and affect it. Every company faces the influences of the environmental factors at one or the other stages of its development and this environment generally has both a positive as well as a negative impact on the operations of a company. There is a general list of the characteristics of the environment that has an effect on the way companies interact with their consumers. An Environment possesses thefollowing traits:It is complex and requires tedious efforts and great understanding.The environment is dynamic and due to this the internal operations must be aligned to yield proper and lucrative results.The surroundings are multi- faceted and it becomes the ultimate responsibility of the marketers to understand the market trends from all the directions and perceptions.Environment has a far reaching impact on the ways a company performs and delivers services in the markets. These impacts could not be ignored by the executives and it becomes crucial for them to implement strategies that could tackle these environmental impacts on the internal environment of the companies. External EnvironmentThe external environment often includes those factors which are present outside the organization and have a tendency to influence the internal operations of a firm. The external factors could prove to be a boon as well as a bane for a firm. For instance, the new markets or a new target customer could provide an ample of opportunities for a firm or on the other hand could also pose a variety of new threats to the new entrants in the markets. Similarly the competitors present in
the current and potential markets could help a company to deliver the best services to its customers and maintain its overall quality and at the same time there are chances that the company could be targeted by the competitors for having a great edge in the market in terms of sales and popularity.The opportunities for a company could be a great economic turnover or boom in the market or the introduction of an innovative technological revolution. A new market with a demographic shift could also be considered as an opportunity for a company. The opportunities when turn sourcould also pose a great threat to the company. Internal EnvironmentThe internal environment often includes factors that are already present within the company and are entirely inevitable. The company could avoid or even change its external environment, but the factors that are present in the company has a greater influence on the decision making process as well as the working strategies of a company. These factors play a dual role in the company either by imparting strength to the various stakeholders or by causing weaknesses of the strategic nature in the firm. The strengths of a company are the inherent capacity, which an organization can use to have an edge over the other competitors of the same genre in the market. These strengths may include an outstanding reputation and Brand Identity in front of the customers and shareholders in the market. The experienced and killed employees of a company could also act as a major asset for the firm that could be used to attract a huge customer base in the market. Another strength of a company could be its relations and the level of communication with the customers, suppliers and other shareholders. These factors also determine how strong relations could be developed and maintained. The weaknesses of a company could be its inherent limitations or constraints that have a tendency to develop strategic disadvantages for the firm. The weaknesses could include the demotivated staff with low level of morale. The due projects and lack of resources could also be regarded as one of the weak points for a firm. SWOT AnalysisSWOT Analysis

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