Marketing Plan for Hotel Industry - Desklib

TASK-Creation of a Marketing Plan
Marketing Plan
10/25/2019
Hotel Industry
smrc

Abstract
This report is based on the marketing plan of the hotel industry. The Various factors that
might impact the working of the hotel industry are covered in this report. The flow of the
report starts with the introduction to the hotel industry which is followed by the current trends
of the hotel industry. Then there are various internal as well as external factors affecting the
working of the industry. Along with this the report also covers the proper pestle analysis as
well as SWOT analysis of the industry. The competitor analysis and STP analysis are also
very well covered in the report. This is then followed by conclusion to the report.

Contents
Abstract........................................................................................................................ 2
Introduction.................................................................................................................... 6
Trends in the Hotel Industry....................................................................................... 6
Booming global tourism.......................................................................................... 6
Virtual communities................................................................................................ 6
Factors affecting hotel industry-................................................................................. 6
External Factors...................................................................................................... 7
PESTLE Analysis...................................................................................................... 7
PESTEL ANALYSIS-...................................................................................................... 7
Political Factors-...................................................................................................... 7
Economic Factors.................................................................................................... 8
Social Factors....................................................................................................... 9
Technological Factors........................................................................................... 9
Environmental Factors......................................................................................... 9
Legal factors...................................................................................................... 10
Internal factors affecting hotel industry-..................................................................11
 Customers....................................................................................................... 11
 Board of Directors (BOD)-...............................................................................11
 Government.................................................................................................... 11
SWOT analysis.......................................................................................................... 11
Strengths of Hotel Royal:...................................................................................... 11
 Provides secure Place Away from Home......................................................11
 Contributes to the Economy........................................................................12
 It Provides Employment...............................................................................12
 High-Profit.................................................................................................... 12
WEAKNESS OF HOTEL INDUSTRY...........................................................................12
 Hotel Charges.............................................................................................. 12
 Unfavourable Tax Rates............................................................................... 12
Opportunities to the Hotel Industry.......................................................................12
 New policies................................................................................................. 12
 New customers from online platform...........................................................12
Threats to the hotel industry................................................................................. 13

 Less innovative products............................................................................. 13
 Improving strengths..................................................................................... 13
STP STRATEGY-......................................................................................................... 13
Segmentation........................................................................................................ 14
Location................................................................................................................. 14
Size....................................................................................................................... 14
Preferred Amenities............................................................................................... 14
Traveller Type....................................................................................................... 14
Targeting:................................................................................................................. 15
Positioning-............................................................................................................ 15
Smart Objectives of Amazon company-....................................................................15
a) Growth objectives........................................................................................... 16
Branding objectives:.............................................................................................. 16
Profitability objectives:.......................................................................................... 16
ANSOF Matrix of hospitality industry........................................................................16
Product development............................................................................................ 17
Diversification....................................................................................................... 17
Market Penetration................................................................................................ 17
Market development............................................................................................. 17
Apply Tools of marketing mix-..................................................................................17
Products:............................................................................................................... 18
Positioning:............................................................................................................ 18
Process:................................................................................................................. 18
Packaging.............................................................................................................. 18
Pricing:.................................................................................................................. 18
Place;..................................................................................................................... 19
Promotion:............................................................................................................. 19
Porter’s Five forces Analysis..................................................................................... 19
Threat of new entrant:.......................................................................................... 19
Threat of substitute products:...............................................................................19
Bargaining power of suppliers:..............................................................................20
Bargaining power of customers:............................................................................20
Recommendations.................................................................................................... 20
References............................................................................................................... 21

Introduction
The hospitality is experiencing enormous variations and burden over the previous
decades(Zagade and Fernandes, 2018).
What main trends have been uniformly changing the industry and where is hospitality going
in the future?
Online travel agents usually have three basic impact on the hotel industry. Among these
impacts, first one is regarding their role in modifying various distribution channels. They are also
responsible for diverting values away from people. Second impact mentioned the notorious
behaviour of various brands. It means that these companies have replaced the hotel brands to a
great extent. In the end, the third one is that, they are responsible for building harmonious
relationship with travellers.
Trends in the Hotel Industry
Booming global tourism
More people travels because of low cost carriers, the people travel across the world at a very
reasonable price. Various new markets have confirmed that their GDP started increases at a
very high rate, which helps in planning their citizens to travel across the world.
Virtual communities
Various Social networks or TripAdvisor have had a reflective effect on customers. These
networks help in providing more transparency and helps in providing better quality of the
services hospitality companies.
Factors affecting hotel industry-
There are various factors that affect the hotel industry. These factors are categorised in
External factors or internal factors;