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(PDF) Situation Analysis and Strategic Planning

   

Added on  2021-02-21

6 Pages1458 Words232 Views
The Role of Situational Analysis in Developing a Marketing Plan

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Demographics.............................................................................................................................1Economic Conditions..................................................................................................................2Competition.................................................................................................................................2Society and Culture.....................................................................................................................2Political and legal........................................................................................................................3Technology..................................................................................................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONMarketing plan can be defined as the documentation of an organisation's marketingtactics as well as strategy. In this regard, it is important for a firm to conduct a situationalanalysis so as to identify the probable opportunities and threats associated with contemporarymarketing planning (Fyall, 2019). The project is based upon situational analysis conducted formarketing planning of Four Seasons Hotel based in Sydney. This organisation pertains tohospitality sector and is engaged in provision of accommodation and other associated facilities topeople. The report contains macro environmental issues and opportunities concerning therespective hotel, such as demographics, economic conditions, competition, society & culture,political & legal and technology. MAIN BODYSituational analysis can be referred to as the accumulation of tools and techniques usedby the manager of a corporation to gain knowledge of the internal and external environment ofthe firm. In other words, it can be said that situational analysis is the critical examination ofbusiness environment of a firm with an aim of stipulating corporate or marketing strategies andtactics (Wang, Hung and Huang, 2019). The elements included in the external environmentalanalysis are important to be discussed as they lay down the basic information regarding the keyaspects of a nation which provide aid to an entity in development of a marketing plan. Suchelements pertaining to macro environmental analysis of Four Seasons Hotel in Sydney, Australiaare discussed as follows:-DemographicsAustralia is regarded to be 55th biggest nation across the global periphery having anoverall population of 25.20 million (AustraliaPopulation2019, 2019). This tends to provideopportunities for hospitality organisations such as Four Seasons Sydney to develop a marketingplan which can appeal to a large base of audience. This will provide aid to the hotel managementin entice people to have a stay at the premises and experience the high quality offerings of theentity. Further, the location of the hotel is Sydney which is home to a large number ofinternational and regional events, thus inviting various travellers to visit the city on a regularbasis. This facilitates Four Seasons Sydney to make use of the favourable demographics ofAustralia, especially Sydney, to inflate its revenues as well as profits.1

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