Comprehensive Marketing Plan for Green Room London Hotel Analysis

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This report presents a detailed marketing plan for the Green Room London Hotel, encompassing an in-depth analysis of its internal and external environments. It includes a comprehensive audit of the marketing environment, utilizing SWOT and PESTEL analyses to assess strengths, weaknesses, opportunities, threats, and political, economic, social, technological, environmental, and legal factors. The plan further explores segmentation, targeting, and positioning (STP) strategies to identify and reach the most profitable customer segments. The report also outlines specific, measurable, achievable, realistic, and timely (SMART) objectives, along with recommendations for improvement and strategic outcomes. Finally, it provides a conclusion and references to support the findings.
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CREATION OF A MARKETING
PLAN
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
AUDIT OF THE MARKETING ENVIRONMENT.......................................................................3
Overview of internal as well as external environment for marketing.........................................3
SWOT and PESTEL analysis......................................................................................................4
Segmentation, Targeting and Positioning...................................................................................6
2/3 SMART OBJECTIVES.............................................................................................................7
OUTCOMES....................................................................................................................................9
RECOMMENDATIONS.................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marketing plan is plan in which all the strategies related to marketing are made and the
same are achieved step by step (Post, 2019). Marketing plan is made by the professional who is
having a bunch of experience in making plan. The hotel taken for the study is Green Room
London which is having headquarter in London. Nick Hartwright is the CEO as well as President
of the company. The hotel is having standard room, corner room, en-suit rooms and also studio
apartments. In the study audit of the marketing environment is done. STP is done and also
SMART objectives are analyzed. Outcomes and the recommendation is made for the
improvement.
MAIN BODY
AUDIT OF THE MARKETING ENVIRONMENT
Overview of internal as well as external environment for marketing.
There are two types of environment which are used under the marketing for doing
analysis of the business and its competition. Res Lion Hotel Corporation will use SWOT analysis
for doing the internal as well as external analysis of the business and PESTEL analysis for doing
external environment analysis. The environment are complex and not easy to understand
sometimes. It is must for a marketing manager of Green Room London Hotel to understand the
environment and then frame a plan which is most suitable and most competitive.
Internal environment
The internal environment of the business consists of all the elements presents within the
Green Room London Hotel (Reed, 2019). All these elements can get effected internally with the
decision-making inside the hotel. The examples of internal environment are employees of the
hotel, Value system, Decisions, culture of the organization, mission as well as vision of the hotel
and policies of the hotel.
External environment
The external environment of the hotel is the environment by the external elements effects
the Green Room London hotel. The external factors are the political factors, Economic factors,
Social factors, Technological factors, Environmental factors and the Legal factors. All these
factors are not under the control of the organization and Green Room London Hotel have to
make the necessary changes.
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SWOT and PESTEL analysis.
There are various concept theories and models in marketing which are used for framing
the marketing strategies in order to execute the plan. Here in the selected models are the SWOT
analysis and PESTEL analysis. The analysis is made considering three years.
PESTLE Analysis
PESTLE analysis is the analysis in which the external environment effect is taken for the
organization in its performance and position.
Political factors
The political factors which can influence Green Room London Hotel is the change in
policy making for waste management in which the hotel can get charged for dumping the waste
in the water. Positive impact can be providing subsidy for Eco friendly material usage.
Economical factors
Economical factors can affect Green Room London by increasing the cost of the raw
material and labor due to inflation (Galan, 2019Stewart, 2019). This can result in increasing the
price of the product and the same can result in shifting of the customers. Positive impact can be
increase in the profit of the hotel.
Social factors
Social factors which can influence Green Room London are the age factors of the
customers and the life style of the customers in which they may demand for the customized taste
and customized preferences. This will lead to increase in the budget for additional expenses for
the hotel. The impact which is positive is the providing food which is in demand by doing anlysis
of the social factors.
Technological factors
Technology if not used by Green Room London hotel which is sophisticated then it can
result in increase in the process time and increase in the cost of the hotel. If the advanced
technology is used in the hotel the can result in decrease in the processing time and booking of
the hotel will become easy.
Environmental factor
The environmental factor which can affect the Green Room London hotel is the pollution
factor in UK which can spoil the quality of the food and this can result in dissatisfaction among
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the customers. The pollution factor can be corrected if appropriate measures such as using eco
friendly equipment's are used.
Legal factor
Legal factors can influence Green Room London hotel by changing the laws for the waste
management which can cost Green Room London for management of waste. Legal factor will
also impact the hotel positively by making law such as tax concession. The same will result in
decrease in the cost of the company and increase in the profit of the hotel.
SWOT Analysis
It is the analysis which is used for finding out what are the factors within the Green
Room London Hotel and outside the Green Room London effecting in its profitability and
performance.
Strength
Strength is the internal factor which is better then the competition. The strength of Green
Room London is its sound employees which do better sales and marketing for the organization.
Weakness
Weakness is also an internal factor in which the competition is better than the
organization (Rohm, Stefl. and Saint Clair, 2019). The weakness of the Green Room London
Hotel is poor policies for the employees in which they are not taken proper care of by not
providing additional benefits such as holidays, tour and packages etc which are provided by the
other companies.
Opportunities
Opportunity is the external factor in which the company can take advantage of if timely
actions are taken. Opportunity for the Green Room London is the subsidy provided by the
government for the healthy food items and the same can be availed if the hotel increases its
budget for the healthy food items.
Threat
Threat is also the external factor in which the competition is better than the organization.
Threat for the Green Room London hotel is the entrance of street food stalls which is providing
cost friendly and tasty food to its customers.
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Segmentation, Targeting and Positioning.
Segmentation is the process of dividing the divisions into separate parts and then
identifying which is the part at which the Green Room London hotel is good at (Smyth, Duryan.
and Kusuma, 2019). The targeted market is divided for the making easy the competition and
making easy pinching the product. There are four parts in segmentation including Geographic,
Demographic, Psycho graphic and Behavioral. Existing position of the hotel is not based on
targeted market but there is a potential position in the market for the Green Room London hotel
which is explained in the below paragraph.
In order to stand out of the competition the Geographical boundaries' variety of cuisine
will be made for the variety of the customers which France, Italy and Germany in general. In the
Demographic the age will be taken under consideration in which fast food will be pinched to the
age group of 10 to 20 years old customers and healthy food will be pinched to age group of 40 to
60 old age group. Psychological factors which will be considered are the lifestyle in which theme
room will be designed for the customers such as family, young couple, boys and girls.
Behavioral factors affects taken in the consideration are the attitude which is having by the
customers towards the brand of Green Room London by making fill the form with review from
the customers in which what needs to be improved will be determined and appropriate actions
will be taken for the same.
Targeting is the process in which separate market is selected for the separate age group in
order to drive more revenue and more profit (Smolková. and Štarchoň, 2019). Presently Green
4 types of the market segmentation.
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Room London is having no such targeted market but in the plan the targeted market will be the
rich age group of UK which are under the age group category of 40 years above. This will make
stand out of the competition as the revenue generated from the group will be invested in the
growth of the hotel.
Under the positioning the minds of the customers are occupied by satisfying the needs
and wants of the customers in which the selecting a price and the quality of the product which is
the most appropriate as per the needs and wants of the customer which will help them satisfy the
most. As a manager of Green Room London Hotel the price charges with the product will be
higher in order to provide premium quality of the product. In order to stand out of the
competition the hotel will be focusing on high income group which will lead to bringing in
higher revenue for the company.
2/3 SMART OBJECTIVES.
Smart objectives takes into account measures which are effectively managed and helps
the company to achieve the goal of the Green Room London Hotel in much efficient way.
Specific
The objective of the Green Room London hotel must be clear and well-defined which
here in the case is for a year is sales and profit maximization by capturing a market of which
people using digital marketing skills.
Illustration 1: SMART Analysis
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There are several questions which must be considered while doing SMART analysis and the
same are as follows:
Who are the ones which are involved in the goal, What are the goals which needs to be
completed on time, where is the place the goal is to be achieved. When the goal must be
achieved and why is the need to achieve the goal.
Persons involved in making the goals specific are the marketing manager and the team of
manager in which salesmen are there. The goals which are needed to be completed are achieving
the target of sales of 50% by 12 months. The goal is needed to be achieved in order to get more
profit and get more revenue.
Measurable
The goals made by the marketing manager must be measurable which means the progress
report of the goal must be sent by the sales team to the manager on time (Vlasova. and Kulikova,
2019). Here in the plan the sales team of Green Room London hotel will give the data of sales to
the manager in every quarter for 12 months. In which the goal will be compared with actual
performance in order to find out whether the team has reached the goal or not.
Achievable
The goals set must be achievable or attainable, the acceptability of the goal must be
stretched in order to make the manager challenged but the goal must be defined well enough so
that the manager can actually achieve the goal. The resources required to achieve the goal will be
human resources in which the sales team will be used, financial resource in which the budget set
for the goal will be increased for marketing and IT in which Search Engine Optimization will be
used to rank the website at the top of Green Room London hotel. In the hotel industry KPI
indicator will be used in which top hotels will be used and the best part of the hotels will be
taken in order to find out whether the same thing is achieved by others or not.
Realistic
The goal of the hotel must be realistic in which the given time and resources must be
sufficient to meet the goal. The goal must be realistic and within reach. The target set by the
marketing manager will be based on previous year performance in which there is a hike of 50%
this year.
Timely
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The goal must have a date which is the beginning date and the end date. 12 months is the
deadline to achieve the goal (Vlasova. and Kulikova, 2019). The goal is having a deadline which
is for a month in which the goal must be achieved by 5%.
Three current trends, cause and impact
Three current trends which will used under the plan will be digital marketing tools such
as SEO, SMM and SME. All these tools have their own advantages in the marketing plan. SEO
will impact Green Room London hotel by boosting the website on the top and SMM will lead to
make aware the public more about the hotel menu and items to be served to the customers
through social media. SME is the paid marketing in which the manager can run a marketing
campaign in order to attract more traffic. The cause of the trends are the cost-effectiveness and
the more effective tools.
OUTCOMES
The tools used for marketing mix are the 4Ps and the same are mentioned below:
Product
In product, strategy used by the Green Room London will be product differentiation in
which variety of products will be used for the variety of customers for 36 months the tool will be
adopted by launching new product which meets the needs and wants.
Price
Pricing strategies used by Green Room London will be cost value adding in which mark-
ups will be added over the cost (Al Badi, 2019). This strategy will be adopted for 36 months by
adding what ever the mark up is over the cost. For example if the cost of the product is 5 ponds
and in future the cost rises by 20% then the same will be reflected over the price.
Place
Place is the area which will be chosen by Green Room London hotel and the area chosen
by the same will be online. For 36 months this will be adopted by doing new and innovative
actives again and again.
Promotion
The promotion tool used by Green Room London will be Digital marketing in which
activities will be done in order to increase the sales such as SEO and SMM. The same will be
adopted for 36 months by showing the results which have been achieved by digital marketing.
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RECOMMENDATIONS
The best way using which Green Room London can take advantage of the opportunities
are as follows:
The best way to exploit the opportunity of tax subsidy by the UK government for the
healthy food is by making a plan in which the hotel must include the ways by which the
expensive healthy food can be purchased at lower rates, the same can be done by
purchasing in bulk fruits and vegetable and storing them at the safer area.
Defending can be done by planning in advance how to deal with the inflation in which
the hotel can buy the expensive item in advance and the items which are not that
expensive later (Samad. and Hasyim, 2019).
It is recommended to Green Room London to focus on the customers from the higher
income group by pinching them quality products which will help the hotel in earning high
revenue.
Recommendation is also made to the hotel by to launch products which can be served to
low income category audience because this will help the company in branding.
The hotel must focus on making policies which are employee friendly and gives the
employees relaxation and the same make the employees more focused towards the work.
In order to overcome the entrance of the street food the hotel must focus on launching
fast food which is more competitive in price and more sophisticated.
Green Room London must also focus towards the waste management in which the laws
must be followed in order to avoid any penalty in the future.
CONCLUSION
As per the study it is concluded that marketing plan plays a very important role in
achieving the objectives of the hotel. It is very important to do internal as well as external
analysis before launching a new product. There is a lot of importance of digital marketing, using
which the company can cover large amount of customers by going advertising of the variety of
products at much cheaper rate. The weakness and the threat must be addressed timely by the
hotel in order to avoid any future chunks. There are various outcomes which can be achieved
using the marketing mix for 36 months.
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REFERENCES
Post, R.J., 2019. Stories Students Tell: A Content Marketing Plan to Increase Enrollment at
Cumberland County College (Doctoral dissertation, Wilmington University (Delaware).
Reed, B.M., 2019. Creation and Implementation of Marketing Collateral for the Agricultural
Education and Communication Department at California Polytechnic State University, San
Luis Obispo.
Rohm, A.J., Stefl, M. and Saint Clair, J., 2019. Time for a marketing curriculum overhaul:
Developing a digital-first approach. Journal of Marketing Education. 41(1). pp.47-59.
Galan, J., 2019. Tourism and Public Use Plan. In Sectoral Plans and Pilot Projects for
Sustainable Development (pp. 331-355). Springer, Cham.
Stewart, D.W., 2019. The Financial Imperative of Marketing. In Financial Dimensions of
Marketing Decisions (pp. 7-31). Palgrave Macmillan, Cham.
Smyth, H., Duryan, M. and Kusuma, I., 2019. Service design for marketing in construction:
Tactical implementation in the “business development management”. Built Environment
Project and Asset Management. 9(1). pp.87-99.
Smolková, E. and Štarchoň, P., 2019. Specifics of Marketing Communications Within Political
Environment in Slovakia. In Eurasian Business Perspectives (pp. 39-51). Springer, Cham.
Vlasova, N.Y. and Kulikova, E.S., 2019, May. On the question on the basics of the functioning
of the territory marketing strategy in the conditions of processes digitization. In 1st
International Scientific Conference" Modern Management Trends and the Digital
Economy: from Regional Development to Global Economic Growth"(MTDE 2019).
Atlantis Press.
Ariffin, A.S., 2019. Inculcating Innovation Culture and Developing Strategic Management of
Technology and Innovation Plan in SME’s for Wealth Creation to support Malaysia
National Entrepreneurship Policy 2030. Journal of Science, Technology and Innovation
Policy. 5(1). p.10.
Al Badi, K., 2019. Implementation of marketing concept and organizational culture in SMEs in
Al Buraimi–Oman. Benchmarking: An International Journal.
Samad, S. and Hasyim, A.W., 2019. Environmental analysis of Smart Sago (SS) product
marketing strategy. EurAsian Journal of BioSciences. 13(1). pp.207-211.
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