Effective Planning and Market Trends Assessment

This assignment involves evaluating the effective planning of business operations within a hotel chain firm. It includes assessing internal and external environmental factors to meet customer requirements and improve service quality. The assessment also considers market trends to develop services as per current and potential demand.

The contemporary hospitality
industry

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
(1) PESTEL analysis....................................................................................................................1
(2) SWOT analysis and its impact on decision making process..................................................2
(1) Perform a trend analysis with its implications and giving range of examples.......................3
(2) Evaluation of ability of Marriott Group to develop effective products and services to meet
current market trends...................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES ...............................................................................................................................6

INTRODUCTION
In recent time, hospitality industry have emerged as a major service provider and one of
the fastest emerging service provider sector. In the recent time hospitality sector has seen a very
effective influence of external and internal factors and suitable decision making by senior
management for managing international issues and global strategies. For the present report,
Marriott Group of Hotels. It is a hospitality service provider hotel chain, operating within UK.
The present report includes a PESTLE for identifying environmental factors affecting
development of firm. Along with this, a proper SWOT is been presented for identifying influence
on decision making. Trend analysis and new product development measure is evaluated to
produce new services by the firm and meet current trends and requirements.
MAIN BODY
Business planning Report
(1) PESTEL analysis
The external factors such as political, economic, social, technological and legal factors
have a deep influence on the operations and action plans that are taken within the organisation
(Wang, 2016). This external environmental factors will influence the overall planning and setting
of business planning that will impact operational capabilities within an organisation. Some major
impacts laid by these factors are:
 Political: The political or governmental factors are key influencer for the operations and
development of selected hospitality industry. The political conditions like change in
government, Brexit etc. are few factors that impacts the overall operations and
evolvement of a hospitality entity and are required to be planned. These factors are the
major influencer on the establishing, developing and delivering of a new product or
service by a hospitality firm.
 Economic: The financial factors all over the globe and in UK have been a driving factor
for development of a hospitality enterprise like Marriott Group. As the global economic
conditions have improved to a greater level, hospitality sector have seen a good rise and
development (Ali, Amin and Cobanoglu, 2016).
 Social: Its is one of the major influencing element for the development of an hospitality
enterprise. As the customer preferences is been changes and globalisation have spread the
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culture of one nation to another, adoption of various cultural factors have impacted
development of Marriott group.
 Technological: It is the most important and considerable external environmental factor
that impacts the development and growth of a hospitality firm. Use of latest and advance
technologies like social media platforms, online marketing and digital feedback
management (CRM systems) are few technical measures that are taken for development
of the firm (Kim, Vogt and Knutson, 2015).
 Environmental: Rise in environmental concern have led a good deal of hospitality firm
to adopt for organic and environment friendly services which have improved goodwill
and CSR count of the hospitality firm and have aided to its growth and development.
Besides this the seasonality and climatic condition also plays a key role in the evolution
of firm (Jauhari and Bharwani, 2017).
 Legal: As per the industrial norms, there are certain legal obligations which are required
to be followed within the firm and thus will lead the firm to sustain their functionality for
suitable growth. Following of this legal obligations will improve the firm's performance
and growth of firm.
(2) SWOT analysis and its impact on decision making process
SWOT analysis of Marriott Group is as follows:
SWOT Analysis
Strength Weakness
 High brand recognition is the biggest
strength of Marriott group that can turn
out to be the key driving factor for
appropriate decision making.
 The firm is known for using
technological innovations and their
constant upgrade is the key driving
factor for organisations growth.
 Have a good Employee retention rate
and work force.
 Limited market share due to other
established hotel chains.
 Global expansion has affected the
brand image and competition rate to a
greater extent.
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 Vast operational background with 3700
hotels in about 70 countries.
Opportunities Threat
 High potential of growth in foreign
market.
 Can adopt effective innovation for
improving customer services.
 Chances of growth in many developing
market like India and other Asian
countries.
 Entry of new brands in the hotel
industry.
 Excessive rise in competition after the
expansion of business in developing
countries.
 Slow growth rate can turn out to be a
major factor or limitation.
This internal environmental factors are the key driver of growth and development of
business operations and expansion of a hotel chain. As the firm will improve the proper planning
of their business expansion and other decision making. Operations will impact the sales and
development of their hospitality based products and services and thus, will guide the
management of Marriott group to improve their growth rate and performance. As the firm has a
good brand image and market presence, the management will decide suitable plans to avail
effective planning of business operations that will improve the quality of services and will guide
the firm to improve their performance and will lead the organisation to set suitable strategies that
will help in effective planning of business strategies and action plan. The decision making by
management helps the Marriott group to lead a better expansion operation within the developed
as well as the developing countries. It also improves overall performance of organisation to lead
the suitable designing of functional structures within the firm (Jones, Hillier and Comfort, 2016).
Market Research Report
(1) Perform a trend analysis with its implications and giving range of examples
Marriott Group of Hotels will look after various current and potential trends that are
prevailing in the market and will impact overall performance of the Hotel chain enterprise. As
with the suitable planning of the business strategies and action plans, this can be said that
ongoing and future trends that are present in the market will impact the performance of an
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organisation like the selected firm that will help in its effective growth and planning in effective
planning of the firm. Some major trends ongoing in market are:
Current market trends:
 Catering millennials: Millennials are the group of people between the age group of 18 –
35 years of age and are the major consumer of hospitality sectors. Thus, organisation can
opt for the proper assessment of the business operations that will help in suitable planning
of products and services accordingly to have a good growth and imply effective
satisfaction level (Top 10 Trends Impacting the Hospitality Industry, 2019).
 Use of technologies: As nowadays majority of guests are technology based and are
comfortable in using different sort of apps. Thus, in such situation a firm like Marriott
Group will look after proper updating its websites and other application to be highly
effective and user friendly.
Potential trends
 Promotion using destination: As with the globalisation, many new destinations are
emerging as the tourist hotspot and thus, will make a proper opportunity for a firm like
Marriott Group to expand its business (Kandampully, Zhang and Bilgihan, 2015). The
online social media posts and tweets will aid in suitable promotion of services and
advertising campaigns for the firm.
 Real time issue solving: With the advancement of technologies and availability of
various platforms to place the problems, it has been proved out to be ready for the
organisation like Marriott Group to identify and resolve any sort of issue within the
hospitality enterprise that will improve the performance efficiency of the organisation.
(2) Evaluation of ability of Marriott Group to develop effective products and services to meet
current market trends
As per the effectiveness of the operations and the analysis of the current and potential
trends that are been taken within the firm will help in proper assessment of the business
operations that will help in suitable planning of the operations that will help in effective planning
of the different strategies and thus will lead the firm to have a good market growth and thus, will
lead the organisation to improve the high quality of products and services (Radojevic, Stanisic
and Stanic, 2015).
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As per the current and potential trends in the hospitality sector, this can be said that
Marriott Group will develop effective products and services that will help in proper meeting of
this current and potential market trends. As the firm has a good market support and is reputed for
its innovative services, it will help in meeting the operational need and requirements of their
customers and fulfil the current and potential market trends in hospitality sector. Besides this, the
firm has highly skilled labour force that will help in rectification of any sort of issues within
enterprise.
CONCLUSION
As per the assessment, this can be said that the effective planning of the different
business operation that are taken within the Hotel chain firm. This assessment includes a proper
evaluation of business planning operations and the market trends that will help the enterprise to
have a suitable growth and management of strategies taken within the firm. The assessment of
internal and external environmental factors that will help the firm to meet their customers
requirements and thus will lead the firm to improve the quality of services and develop the
services as per the current and potential market trends.
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REFERENCES
Books and journals
Ali, F., Amin, M. and Cobanoglu, C., 2016. An integrated model of service experience,
emotions, satisfaction, and price acceptance: an empirical analysis in the Chinese
hospitality industry. Journal of Hospitality Marketing & Management. 25(4). pp.449-
475.
Jauhari, V. and Bharwani, S., 2017. An exploratory study of competencies required to cocreate
memorable customer experiences in the hospitality industry. In Hospitality Marketing
and Consumer Behavior (pp. 159-185). Apple Academic Press.
Jones, P., Hillier, D. and Comfort, D., 2016. Sustainability in the hospitality industry: Some
personal reflections on corporate challenges and research agendas. International Journal
of Contemporary Hospitality Management. 28(1). pp.36-67.
Kandampully, J., Zhang, T. and Bilgihan, A., 2015. Customer loyalty: a review and future
directions with a special focus on the hospitality industry. International Journal of
Contemporary Hospitality Management. 27(3). pp.379-414.
Kim, M., Vogt, C.A. and Knutson, B.J., 2015. Relationships among customer satisfaction,
delight, and loyalty in the hospitality industry. Journal of Hospitality & Tourism
Research. 39(2). pp.170-197.
Radojevic, T., Stanisic, N. and Stanic, N., 2015. Ensuring positive feedback: Factors that
influence customer satisfaction in the contemporary hospitality industry. Tourism
Management. 51. pp.13-21.
Wang, C.J., 2016. Does leader-member exchange enhance performance in the hospitality
industry? The mediating roles of task motivation and creativity. International Journal of
Contemporary Hospitality Management. 28(5). pp.969-987.
Online
Top 10 Trends Impacting the Hospitality Industry, 2019 . [online] Available Through : <
https://www.smartmeetings.com/news/trends/74256/top-10-trends-impacting-hospitality-
industry>
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