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Hospitality Marketing Essentials It is a type of document which include the various strategy and it will be implement in the future for the effective performance.Basically,marketplanincludetheoverall overview of the organisation, it's goal & objectives. It also include the current position or current marketing strategy of the company and the develop another marketing strategy for the future. Strength:Affordable price of the rooms with high quality of service which is help the business to increase customer loyalty.Brand value of Travelodge Limited is very good because it is the 2nd largest hospitality company in UK. Company have higher marketing share and they develop effective marketing strategy to expand their business. Weakness:Companyusingmarketpenetrationstrategy which negatively affect their upper class customers. They think that, hotel is for lower class people which affect the company. Opportunities:Super luxury room going to launched by the company which improve the image of company for the upper class people. Threats:Due to high competition in hospitality sectors, Travelodge have to be always creating and innovative in their marketing strategy. It is one of the strategy of marketing plan which include the long term strategyalongwithorganizationalmissionorvision.Strategic objectiveofTravelodgeLimitedistoacquirehigh marketshare throughinnovationoftheirbestservicestothecustomerwhich increase loyalty and provide profitability. Vision: To increase their reach across the nation and provide quality service to their customer as well their loyalty regarding Travelodge Limited. Mission:Tobecomefirstchoiceofthecustomersandprovide attractive services which provide more satisfaction. As per their future strategy, they estimate about 10% profit margin in every quarter after implementing their marketing plan to launch premium rooms for higher class people. Also increase the number of visitors about 15% in the next year (Han Neuninger, 2017). Their is another way also which help the business to expand more in the market with the help of STP. It include segmentation, targeting & positioning and all of them discussed below: Segmentation: In this analysis, firstly company analyses the segment where they have to focus and it will be based on common interest, characteristics or need of the customer & market. Travelodge identify the market and then develop services which fulfill the organizational goals. Targeting: In this strategy, company target the specif segment which have same class or taste. Travelodge prepare effective strategy to attract more customer for the successful results. Positioning:Thisstageincludetheeffectivepromotional Markting Budget: Particulars 1st year 2nd year 3rd year 4th year 5th year Initial Fund80001100018000180009000 Investment30007000100003500018000 Total1100018000280005300027000 Marketing Spending Promotion1000080001200080003000 Online Booking50005000300060006000 Direct Booking50005000500060005000 Total2000018000200002000015000 From this poster it has been concluded that, marketing plan is a combination of various strategy which help the business to introduce new product in the market. Along with this, SWOT analysis provide the competitive analysis which help them to analyze their strength, weakness, opportunity or threats. CONCLUSION SWOT ANALYSIS MARKETING PLANSTRATEGIC OBJECTIVES
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