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Report: Marketing Plan for One Fine Stay

Added on - 20 Sep 2019

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One Fine Stay(Three year Marketing Plan)IntroductionThe Marketing plan is that comprehensive document that outlines the upcoming marketingstrategies and advertising efforts. This plan aims to describe business activities that will beinvolved in achieving specific marketing objectives in a given time frame. An enhancedmarketing plan also guides a marketer that in which direction he has to invest the company’sresources and talents in order to achieve a great success in the coming years and even retain aloyal relationship with myriads of stakeholders of the company.If a company succeeds in developing an efficient marketing plan, then there are possibilities thatit may create an enhanced roadmap which could be followed to get unlimited customers anddramatically improve the brand identity of the firm in front of the current and potentialcustomers.In the following report, great efforts have been put together to develop a three year marketingplan forOne Fine Stay,a London- based Hospitality company. The firm was founded in the year2009 with an idea of providing service to the owners of distinctive and up-market homeownersto let out their homes for the guests while they are unoccupied. The recent researches unveil thatthe 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 toutilize the empty yet beautiful, well-appointed and truly inviting homes, to provide an entirelynew experience to the tourist and visitors in such foreign lands. The report has been preciselydivided into three segments, each dealing with three independent tasks. The first task analyzesthe Environmental Appraisal factors and methodologies for the considered company. In thesecond task, there has been a suggestion of the two potential target markets for the company andin 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 businessenvironments. 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 thepossible 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 itsdevelopment and this environment generally has both a positive as well as a negative impact onthe operations of a company. There is a general list of the characteristics of the environment thathas 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 toyield proper and lucrative results.The surroundings are multi- faceted and it becomes the ultimate responsibility of themarketers to understand the market trends from all the directions and perceptions.Environment has a far reaching impact on the ways a company performs and deliversservices in the markets. These impacts could not be ignored by the executives and itbecomes crucial for them to implement strategies that could tackle these environmentalimpacts on the internal environment of the companies.External EnvironmentThe external environment often includes those factors which are present outside the organizationand have a tendency to influence the internal operations of a firm. The external factors couldprove to be a boon as well as a bane for a firm. For instance, the new markets or a new targetcustomer could provide an ample of opportunities for a firm or on the other hand could also posea 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 itscustomers and maintain its overall quality and at the same time there are chances that thecompany could be targeted by the competitors for having a great edge in the market in terms ofsales and popularity.The opportunities for a company could be a great economic turnover or boom in the market orthe introduction of an innovative technological revolution. A new market with a demographicshift 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 andare entirely inevitable. The company could avoid or even change its external environment, butthe factors that are present in the company has a greater influence on the decision makingprocess as well as the working strategies of a company. These factors play a dual role in thecompany either by imparting strength to the various stakeholders or by causing weaknesses ofthe strategic nature in the firm.The strengths of a company are the inherent capacity, which an organization can use to have anedge over the other competitors of the same genre in the market. These strengths may include anoutstanding reputation and Brand Identity in front of the customers and shareholders in themarket. The experienced and killed employees of a company could also act as a major asset forthe firm that could be used to attract a huge customer base in the market. Another strength of acompany could be its relations and the level of communication with the customers, suppliers andother shareholders. These factors also determine how strong relations could be developed andmaintained. The weaknesses of a company could be its inherent limitations or constraints thathave a tendency to develop strategic disadvantages for the firm. The weaknesses could includethe demotivated staff with low level of morale. The due projects and lack of resources could alsobe regarded as one of the weak points for a firm.SWOT AnalysisSWOT Analysis
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