This report discusses the marketing plan and strategies that can be used by Travelodge Hotels to sustain in the market after the corona virus crisis. It includes a marketing audit, TWOS analysis, marketing objectives, marketing mix, and recommendations for improving customer service.
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Travelodge Project
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Executive Summary Marketing plan help the companies in effectively marketing about its products and services in market so that right customers can be reached, at right place and at right time so that the sustainability of company can increase. It also helps the company in achieving it overall objectives so that company can become more competitive in market. In this report the marketing plan and strategies which can be used by Travelodge to sustain in market after the corona virus crisis is discussed.
Table of Contents Executive Summary.........................................................................................................................2 Table of Contents.............................................................................................................................3 Introduction......................................................................................................................................4 Background of the company...................................................................................................4 Task1................................................................................................................................................5 Marketing audit......................................................................................................................5 TWOS analysis.......................................................................................................................5 Task 2...............................................................................................................................................7 Marketing objectives..............................................................................................................7 Marketing objectives for Travelodge.....................................................................................8 Task3................................................................................................................................................9 Marketing mix........................................................................................................................9 Task4..............................................................................................................................................10 Customer service..................................................................................................................10 Recommendations for improving customer service.............................................................11 Conclusion.....................................................................................................................................12 References......................................................................................................................................13
Introduction Marketing plays an important role in an organisation as it efficiently helps it in reaching to its target customers and promoting about the company products and services so that the customers can be attracted and sales of company can be increased. It also helps the company in conducting a market research so that the changing market conditions and customer demands can be known which can help in offering the goods and services which can help in increasing profits of company. In order to effectively market the company products in market it is important that an effective marketing plan is outlined so that marketing strategies which can help in achieving the marketing goals of company can be achieved(Chu, Tang and Luo, 2016). Marketing plan is an operational document which can help the company in effectively advertising about its products and services in market and also generation of leads is possible so that more number of target customers can be reached. Marketing plan help in conducting market research based on which decisions regarding pricing and entering the market are made so that the target customers can be influenced to make purchases. An efficiently designed marketing plan also help the company in building a brand image in market so that a value proposition related to the company’s products and services can be created for customers that can help in adding value to customers and satisfying their demands(Festa and Festa, 2016). In this report the marketing plan which needs to be made by Travelodge Hotels will be discussed so that the company can become a leading brand in market following the crisis of corona virus which has affected the travel and tourism industry. In this report marketing audit will be done so that the market conditions can be analysed which can help in making effective marketing strategies which can help the company to become a leading brand in market. Further, marketing objectives, marketing mix plan and the proposal which can help Travelodge in improving its level of customer service will also be discussed that can help in improving company’s image in market and attracting customers. This report will help in developing knowledge about how a company can deal with changing market conditions so that it can survive sustainably in market and continue to offer its products and services. Background of the company Travelodge Hotels Ltd is a private company which operates in the industry of travel and tourism and is headquartered in England, UK which was established in the year 1985 and is the
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UK’s largest independent hotel brand. The hotels are known for being the best budget hotel brand which provides comfortable rooms to its guests at affordable prices. The company has more than 11,000 employees and earns over £637.1million a year. The brand is also known for its facilities which help in improving customer satisfaction so that they can have an enjoyable and comfortable stay away from their home(Fill and Turnbull, 2016). Task1 Marketing audit Marketing audit is related with comprehensive and systematic analysis, evaluation and interpretation of the business environment in which a company operates so that the impact of the external and internal factors on business can be known. Marketing audit is important as it help the business in evaluating the possible threat or potential opportunities which are present in market and can also know about the business weaknesses which can be improved by taking effective measures(Fornaro and Stubbs, 2016). This can help the company in gaining a competitive advantage in market so that more number of customers can be attracted and company sales and its revenue can increase. It is important that the marketing objectives and goals of company are determined which can help it in analysing the ways in which it can achieve those goals by the application of effective marketing strategies. It also help the company in identifying competition which i present in market so that tactics that can help it in achieving a competitive edge in market can be formulated so that high customer experience can be created. Thus it is important that the marketing audit is independently and regularly conducted which can help the company in efficiently achieving its marketing objectives on time and also in reaching to its target customers in an effective manner. TWOS analysis TWOS analysis in an extension of SWOT analysis which helps the company in gaining a holistic view of the internal and external factors that affect its business. This matrix help the company in reducing the possible threats which are available in market, take advantage of opportunities that can be grabbed by the company, exploit the strengths of company so that a competitive advantage can be achieved and in reducing the weaknesses of company(Fursov, 2017). TWOS analysis can be efficiently used as a strategic planning tool by Travelodge Hotels so that it can attract more number of customers in the corona virus crisis. In order to boost the
travel and tourism industry post the crisis it is important that Travelodge make such strategies through which the safety and security of customers can be maximised against infection and their trust in company can be maximised so that it can become a leading brand in budget hotels in market. Following are the ways in which the TWOS analysis can be applied by Travelodge so that the threats and weaknesses can be minimise while the opportunities and strengths can be used to its advantage: External OpportunitiesExternal Threats Internal Strengths Strengths-Opportunities (Maxi-Maxi strategy) Travelodge is a well known hotel brand being a budget hotel and after the corona virus crisis as the economicconditionshave deteriorated the company has an opportunitytoattractalarge customerbasewhobeforethe crisis used to go for luxury brand hotels(Hijle, 2016). Thecompanyhasastrong financialsupportingwhichcan help it in taking the advantage of technologysothatthehotel rooms can be sanitized so that trust of more customers can be achieved. Strengths-Threats (Maxi-Mini strategy) The company has a strong and loyal customer base however withthecrisispeopleare mostlyavoidingtheirtravels so that they can avoid infection which can affect the business of Travelodge. Thecompanyhasalarge number of branches all over UK,SpainandIreland howeveritwillincreasethe costofcompanyto maintenance the high level of safetyrequiredaftercorona crisis(Hollensen, 2019). Internal Weaknesses Weaknesses-Opportunities (Mini-Maxi strategy) As Travelodge is a budget hotel it did not provide its customers with room service, porter service etc. However the company can Weaknesses-Threats (Mini-Mini strategy) The limited facilities given by thehotelandincreasing demand of improved facilities so that highest level of safety
usethecoronacrisisasan opportunitytoprovideguests with these facilities so that they can be given highly safe food and other services thereby enhancing their trust in the brand(Kokil and Kim, 2016). Thecompanyfaced dissatisfaction among customers whentheroomswere overbookedwhichletsome customersgettinglastmoment cancellationswhichcanbe improved as the reduced travel willmeanlessnumberof customerswhocanbegiven betterfacilitiesthereby improving their experience and the brand image of company. canbemaintainedfor customersafterthecorona virus crisis. Afterthecoronacrisisthe marketconditionshave weakenedwhichcanalso affect the hotel industry as the company will face the loss of customersalongwith increasedcostofimproved facilities so that highest level ofsafetymeasurescanbe taken to avoid infection in the hotel(KotlerandBaloglu, 2017). Task 2 Marketing objectives Marketing objectives are goals which are to be achieved by the company through its marketing activities so that it can reach its target customers which can help it in increasing its sales and build a brand image in market. It is important that the company set clear objectives so that it can progress towards achieving those objectives in an efficient and effective manner which will enhance the sales of company and also increase its awareness in market. These objectives can be communicated effectively to the employees of company who can then be trained in such a manner that they can use their skills and talents in achieving those objectives. Marketing objectives help the company in achieving the overall objectives of company and give a clear
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direction to the marketing department so that the positioning and branding of company can be efficiently done in market. It is important that the company follow SMART principle before setting the overall company goals so that company can become successful in market and achieve its targets on time. SMART principle can help the company in setting clear, strategic, systematic, achievable goals that can be achieved within the timeline set by the company thereby improving the efficiency and productivity of company in market(Langston and Loreto, 2017). When the objectives are based on the SMART principle, a strategic direction can be created in company that can be followed in order to achieve the company objectives. Following are the components of SMART principle: Specific: The goals should be well defied and focused so that clear image regarding what is to be achieved, when it is to be achieved and how it is to be achieved can be generated. This can help in communicating to the employees about the clear goals so that they can put their efforts in achieving those goals. Measurable: The goals must be measurable so that success of a company in achieving them can be evaluated along with its efficiency in achieving those goals. Attainable: The goals which are set must be achievable by the company with the help of resources and capabilities available. It is therefore important that the goals are set as per the capability of company in efficiently achieving those goals(Leung, Bai and Erdem, 2017). Realistic: It means that the objectives must be set in such a manner that they are possible to be achieved with the perspective of time and resources available. They must be based on the current conditions and realities of business climate so that they can look possible to bee achieved. Timely: It is important that the goals should be set within a time frame so that a deadline can be set to achieve these goals which can help in increasing the efficiency of performance so that the goals are achieved on time(Lyes, Palakshappa and Bulmer, 2016). Marketing objectives for Travelodge In order to become a leading brand in the budget hotel industry it is important that Travelodge set objectives based on SMART principle so that it can reach to its target in an
efficient manner and attract the customers and increase its sales. It can also help the company in influencing customers by following complete safety at the hotel post corona virus crisis and establish itself as a leading budget hotel brand. Following are the objectives set by Travelodge for ‘Enabling a leading brand’ marketing campaign: 1.To increase its preference among customers by 10% by the end of 6 months. 2.To enhance customer satisfaction by 15% at the end of 6 months. 3.To increase the company revenue in comparison to other hotel chains by 20% by the end of 12 months. All the above goals of Travelodge can be achieved by the company in an efficient manner and also these goals are linked with each other which can help Travelodge in achieving its objective of ‘Enabling itself as a leading brand’. After the COVID-19 crisis the economic conditions of market have deteriorated and the customers will prefer budget friendly hotels for their stay which can help Travelodge in enhancing its preference among customers. It is important that the company follow all the safety guidelines of WHO so that the risks of transmission of infection while the stay of customers can be minimised. His can help in enhancing customer satisfaction and their trust in hotel will increase(Mukherjee, Maji and Raja, 2019). The company can thus increase its revenue as compared to other hotel brands as it can potentially attract more number of customers. Task3 Marketing mix Marketing relates to the set of actions or tactics which are followed by the company so that it can attract its target customers by efficiently marketing its products and services in market. Marketing mix help the company in making right products available to the right customers, at right place and at right time so that their needs and wants can be efficiently fulfilled. Marketing mix is important for a business as it help it in making profitable marketing decisions at every level which help it in gaining a competitive edge in market. Travelodge can make use of marketing mix so that it can improve its marketing strategy in market and attract customers post the corona virus crisis: Product: Travelodge provide accommodation facilities to the travellers at budgeted rates so that high quality services can be given to the customers at affordable prices. the
company can improve the safety standards which can help in reducing the risk of transmission of corona infection in its customer through steps like sanitization of complete hotel, use of masks and PPE kits by hotel staff etc. Price: Travelodge provide high quality hotel services to its customers at low prices so that their experience can be enhanced. The company can increase discounts and offers so that more customers can be attracted as after the corona virus crisis the spending power of customers have reduced(Pedron, 2016). Place: Travelodge has more than 500 hotels across the UK and also has locations in Ireland and Spain which can help it in broadening its customer reach and become the most preferable hotels after the corona crisis. People: The employees of company should be given timely salaries and should not be retrenched after the corona crisis which can help in boosting their confidence in company so that they can use their skills effectively in achieving company objectives thereby making it a leading budget hotel brand(Solimun and Fernandes, 2018). Promotional activities: Travelodge can make use of internet so that it can influence the customer about the special facilities which are available in the hotel which can ensure safe stay of customers. Also the company can attract its customers through discounts and offers via internet so that its sales can increase. Task4 Customer service Customer service is related with the advice and assistance which is given to the customers regarding the use of company’s products and servicers so that highest level of satisfaction can be given to customers along with building good customer relations with them. through customer service the queries of customers regarding the use of company products or services can be solved, they can be given guidance and assistance, their feedbacks can be addressed etc. so that a loyal customer base can be built. Customer service thus help the company in building a loyal customer base as the customers are given importance and their issues are solved on time. It also helps in spreading positive word-of-mouth by the customers about the company so that brand image can be built.
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Recommendations for improving customer service Travelodge provide its customers efficient customer service platforms so that they can make their bookings for the hotel rooms as per the time schedule as they desire. This helps the customers of company in making their bookings either over the phone calls or on the website of the company which also provide the facility of online payment so that the convenience of company can be improved. Travelodge also has a customer service department which is involved in dealing with the complaints of customers so that they can be attended on time which help in improving the convenience of customer regarding refunds or cancellations or various other facilities so that strong relations can be developed by customers. Travelodge can further improve its customer service in the following manner so that it can achieve the objectives of its marketing campaign of ‘Enabling a leading brand’: The company can include a feedback platform where the customers can be asked certain questions which can help it in improving its services by addressing to the complaints of the customers. This can also help it in analysing its brand image in market and its ability in satisfying the customer needs(Steenkamp, 2017). The company can improve its refund policies so that the customers can get their amount of refund as soon as possible which can help in enhancing the trust of customers so that it can become a leading brand in market and customer preference can increase. The company can improve effective communication so that the customers can be communicated about their bookings so that customer’s loyalty towards company can increase. The company is doing everything that can help in enhancing customer service and building effective brand image in market. The company can however increase the use of internet so that it can reach to a large number of customers and improve its market reach. Internet like social media can help the company in knowing about the reviews and ratings posted by its customer so that it can take strategic measures in improving its brand image in market. With the use of internet it can also know about the additional requirements of the customers so that its services can be improved in comparison to other hotels(Tatar and Eren-Erdoğmuş 2016). It will also help in attracting more customers after the corona virus crisis so that it can emerge as a leading brand in budget hotel industry.
Conclusion From this report it can be concluded that it is important that the businesses in order to efficiently survive in market conduct a regular marketing audit which can help it in analysing its internal and external factors. This can help the company in taking effective measures so that more customers can be attracted and sales of company can be increased. Further the company needs to change its marketing strategies with the changing market conditions so that it can survive in market.
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