Hilton Marketing Budget and Strategy

The assignment delves into the marketing budget and strategy of Hilton Hotels. It outlines a proposed marketing budget for five years, categorized by initial money, investments, and marketing outlay. The document further examines Hilton's marketing mix components: product, pricing (penetration, skimming, premium), distribution (global presence), and promotion strategies (emphasizing service quality and utilizing print, digital, and social media).

Marketing essentials
Introduction
Marketing plan is business document which outline
marketing strategy and tactics. It focuses on
stipulated time period and covers marketing details
such as action steps, costs and goals. Hilton hotel
is expanding its business by providing the
transportation services. The marketing plan for
Hilton Hotel is described below:
Marketing plan for Hilton hotel
Overview
It is private industry founded in 1919 at United
States. It assist in providing full service of hotels and
resorts. Currently it has more than 570 properties in 85
countries and territories across 6 continents. Hilton is the
largest in world in terms of hotel brands. It has targeted
both business and leisure travellers
Vision
The vision of Hilton is to fill this earth with
warmth and light of hospitality by delivering good
exceptional experiences in every guest, every hotel and
every time. It mainly focuses on customer.
Mission
The mission of Hilton is to become most
hospitable company in world with creating heartfelt
experiences for guests, high moral values for owners,
meaningful opportunities for team members and creating
positive impacts in communities.
Objective: The objective is to provide lodging
facilities by enhancing customer experiences on
travelling through branded partners for achieving
objective of development of tourism commercially
with national stake. It also provides customer with
transportation facilities with good experience.
STP
It helps in identifying customer needs,
opportunities and accordingly plan is made for
specific target consumer for better business. It is
classified as demographical, geographical,
demographic and psycho-graphical. The segment is
evaluated and specific market is targeted keeping
eye on needs of customer. Each strategy is
according to mission, objective and vision of
company. After targeting particular segment, the
next is positioning this is created by offering goods
and services. It is position, goodwill of business in
minds of customers. Thus, this strategy is analysed
by every firm before incorporation of firm and
survival in market

Monitoring & Control
All the activities should be monitored very
carefully and if any correction is required it should
be done. This helps in achieving effective goal and
objective of firm. Thus it is the last stage of
marketing plan. Hilton should take feedback from
their employees and customers for improving
themselves. As every business require proper
monitoring and controlling of work and activities of
firm. The authority monitors and controls all work.
Marketing Mix
It is the pillar of marketing strategy which
is described as below:
Product
Hilton is known by every people in globe.
It provide luxury services with deluxe rooms, bars
and restaurants. Not only provide service for
leisure traveller but also for business and
corporates for their meeting, seminars and
conference.
Price
The price strategy used by Hilton is
penetration, skimming and premium pricing. As
per need and demand they prefer rooms and
accordingly price is charged.
Place
It is operated globally in 6 continents. It is
easier for customer and provide good experience.
Promotion
Hilton doesn't requires much promotion as
it is famous worldwide. Through good services it
has gained competitive advantage in market.
Through print media, digital, social media
promotion can be done for betterment of company
Marketing budget
The proper budget should be planed and made for
effective result which is described below:
Marketing budget
Particular
s
1st
year
2nd
year
3rd
year
4th
year
5th
year
Initial
money 6500 9000 12500 16000 19000
Investment z 15000 26000 30000 14500
Total 6500 24000 38500 46000 33500
Marketing
outlay
Promotion 7000 4000 6500 3500 3600
Sales
publicity 2500 2000 3500 3600 4000
Direct
selling 4500 3500 6500 3500 4000
Total 14000 9500 16500 10600 11600