One Fine Stay: Marketing Plan for Hospitality Company (3 Years)

This report provides a comprehensive three-year marketing plan for One Fine Stay, a London-based hospitality company. It begins with an environmental appraisal, analyzing the company's internal and external environments, including a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The report then identifies two potential target markets: Australia and China. For each market, it analyzes market segmentation, considering demographics, psychographics, and behavioral factors to understand consumer preferences and trends. Finally, the report suggests a detailed marketing mix for each target market, outlining strategies for product, price, place, and promotion. This includes leveraging unique selling points, pricing strategies, distribution channels, and promotional activities tailored to each market's specific characteristics and consumer behavior. The goal is to provide a roadmap for One Fine Stay to achieve its marketing objectives, expand its customer base, and strengthen its brand identity.

One Fine Stay
(Three year Marketing Plan)
Introduction
The Marketing plan is that comprehensive document that outlines the upcoming marketing
strategies and advertising efforts. This plan aims to describe business activities that will be
involved in achieving specific marketing objectives in a given time frame. An enhanced
marketing plan also guides a marketer that in which direction he has to invest the company’s
resources and talents in order to achieve a great success in the coming years and even retain a
loyal relationship with myriads of stakeholders of the company.
If a company succeeds in developing an efficient marketing plan, then there are possibilities that
it may create an enhanced roadmap which could be followed to get unlimited customers and
dramatically improve the brand identity of the firm in front of the current and potential
customers.
In the following report, great efforts have been put together to develop a three year marketing
plan for One Fine Stay, a London- based Hospitality company. The firm was founded in the year
2009 with an idea of providing service to the owners of distinctive and up-market homeowners
to let out their homes for the guests while they are unoccupied. The recent researches unveil that
the company owns more than 2,500 private homes in its collection and has also become an active
member of the British Hospitality Association. Apart from its homeland, the firm also operates in
Los Angeles, New York, Paris and Rome. This innovative idea has allowed the company to
utilize the empty yet beautiful, well-appointed and truly inviting homes, to provide an entirely
new experience to the tourist and visitors in such foreign lands. The report has been precisely
divided into three segments, each dealing with three independent tasks. The first task analyzes
the Environmental Appraisal factors and methodologies for the considered company. In the
second task, there has been a suggestion of the two potential target markets for the company and
in the last task the Marketing Mix for each of the market is suggested.
http://www.telegraph.co.uk/luxury/travel/100217/onefinestay-review-holiday-homes-and-
apartments-to-rent-in-london-paris-new-york-and-los-angeles.html

http://www.businessinsider.in/We-tried-out-onefinestay-the-Airbnb-for-the-rich/articleshow/
46789437.cms
Task 1 Environmental Appraisal Analysis for the company in the UK market
Environment Appraisal is carried out to analyze all the related factors of the business
environments. This process is performed in order to evaluate the available opportunities and risks
in the markets. The environment of any organization is defined as the aggregate of all the
possible conditions, events and influences that surround and affect it.
Every company faces the influences of the environmental factors at one or the other stages of its
development and this environment generally has both a positive as well as a negative impact on
the operations of a company. There is a general list of the characteristics of the environment that
has an effect on the way companies interact with their consumers. An Environment possesses the
following traits:
 It is complex and requires tedious efforts and great understanding.
 The environment is dynamic and due to this the internal operations must be aligned to
yield proper and lucrative results.
 The surroundings are multi- faceted and it becomes the ultimate responsibility of the
marketers to understand the market trends from all the directions and perceptions.
 Environment has a far reaching impact on the ways a company performs and delivers
services in the markets. These impacts could not be ignored by the executives and it
becomes crucial for them to implement strategies that could tackle these environmental
impacts on the internal environment of the companies.
External Environment
The external environment often includes those factors which are present outside the organization
and have a tendency to influence the internal operations of a firm. The external factors could
prove to be a boon as well as a bane for a firm. For instance, the new markets or a new target
customer could provide an ample of opportunities for a firm or on the other hand could also pose
a variety of new threats to the new entrants in the markets. Similarly the competitors present in

the current and potential markets could help a company to deliver the best services to its
customers and maintain its overall quality and at the same time there are chances that the
company could be targeted by the competitors for having a great edge in the market in terms of
sales and popularity.
The opportunities for a company could be a great economic turnover or boom in the market or
the introduction of an innovative technological revolution. A new market with a demographic
shift could also be considered as an opportunity for a company. The opportunities when turn sour
could also pose a great threat to the company.
Internal Environment
The internal environment often includes factors that are already present within the company and
are entirely inevitable. The company could avoid or even change its external environment, but
the factors that are present in the company has a greater influence on the decision making
process as well as the working strategies of a company. These factors play a dual role in the
company either by imparting strength to the various stakeholders or by causing weaknesses of
the strategic nature in the firm.
The strengths of a company are the inherent capacity, which an organization can use to have an
edge over the other competitors of the same genre in the market. These strengths may include an
outstanding reputation and Brand Identity in front of the customers and shareholders in the
market. The experienced and killed employees of a company could also act as a major asset for
the firm that could be used to attract a huge customer base in the market. Another strength of a
company could be its relations and the level of communication with the customers, suppliers and
other shareholders. These factors also determine how strong relations could be developed and
maintained. The weaknesses of a company could be its inherent limitations or constraints that
have a tendency to develop strategic disadvantages for the firm. The weaknesses could include
the demotivated staff with low level of morale. The due projects and lack of resources could also
be regarded as one of the weak points for a firm.
SWOT Analysis
SWOT Analysis

Strengths  The company is providing an entirely
new experience and service to the
customers which they haven’t
experienced till now.
 The idea of providing lavishing homes
to the tourists gives them an experience
to live like a local in the comfort of a
home.
 The new concept is appealing a huge
customer base even more than the
normal hospitality and tourism industry.
Weaknesses  The idea and concept is entirely new
and could not be readily adopted by the
customers.
 The startup is with limited resources
and once the resources exhaust the
company will face a great economic
turmoil.
 Hiring employees for this new concept
is a tedious task as the new personnel
need to be dynamic and quite young.
 The concept’s success heavily relies on
availability of beautiful and comfortable
homes and this is not an easy task.
Opportunities  The customers in the Tourism industry
are quite adventurous and they are
always in a search innovative idea of
spending their holidays.

 This whole new category of
accommodation could attract new
investors in the markets.
Threats  The competitors in the market may like
this idea and develop similar ones for
the customers.
 The owners of the homes could change
their perceptions with time.
 The investors may change their mind
due to entry of new concept in the
market and then the company might
face an economic downturn as the
resources need to be entirely established
again.
https://www.tnooz.com/article/tlabs-showcase-onefinestay/
https://skift.com/2016/07/15/onefinestay-ceo-interview-the-full-service-hotel-is-dead/
http://www.fm-magazine.com/your-questions/cimavs/louise-ross-v-greg-marsh
http://www.inc.com/christine-lagorio/home-rental-unhotel-onefinestay.htmls
http://thenextweb.com/apps/2012/12/10/one-fine-stay/
Task 2 Two New Target Markets for the firm
The two chosen markets are Australia and China.
Target Market 1: Australia
Tourism Australia provides a number of resources, services, programs and partnering
opportunities to assist Australian tourism businesses with both consumer and trade marketing
activities.

Tourism Australia is a statutory authority of the Australian Government, which promotes
Australia as a tourism destination internationally and domestically and delivers research and
forecasts for the sector.
Established on 1 July 2004, Tourism Australia brings together the collective skills and
knowledge of four separate organizations: the Australian Tourist Commission, See Australia, the
Bureau of Tourism Research and Tourism Forecasting Council. In a strategic planning process
Market Segmentation is a stepping step which recognizes that people's need, desire, and expect
different characteristics from products or services that they experience or purchase.
Under the Tourism Australia Act (2004), Tourism Australia has a statutory obligation to help
foster a sustainable tourism industry in Australia. Sustainable tourism is in the buzz now, and is
one of the many key segments, that Tourism Australia focuses on.
The Tourism White Paper is an Australian Government tourism initiative, designed to achieve
industry growth and provide greater synergy across all areas. It provides framework for structural
change to more effectively support Australia's tourism industry.
‘Tourism Australia' and their Market Segmentation:
Tourism Australia concentrates on Demographic and Psychographic segment wherein mainly it
attracts youth travelers and other interests and leisure travelers.
1. Demographic
Understanding demographics is vital to service/product development and segmentation,
especially with regard to understanding trends in the market place. Demography includes the
study of age, sex, education, family status, life cycle etc., which acts as an excellent tool for a
Destination Management Company or a Travel Board to attract more tourists and travelers to
their country. In the case of Tourism Australia and this report I have chosen to concentrate on
‘Lifecycle' laying emphasis on ‘Youth Market'.
2. Psychographic

This type of segmentation divides the market into groups according to customers' lifestyles. It
considers a number of potential influences on buying behavior, including the attitudes,
expectations and activities of consumers. The main types of psychographic segmentation are:
lifestyle (different lifestyle patterns), Activities, Interests and Opinions (AIO).
Purpose of visit classification enables Tourism Australia to identify the nature of its visitor base
and to plan activities accordingly. It also enables the identification of geographical/seasonal
variations in tourism by purpose.
In accordance with the case of analyzing the segment markets of Tourism Australia, after the
reading, I found that they segment their potential tourist market mainly on the basis of ‘Interests'.
Behavioral segmentation is also observed in the marketing and segmenting of the destination by
Tourism Australia, with focus on social-status and occasions. Many new segments are created
time after time, keeping occasions in mind, like, special tour packages on Boxing Day, Christmas
and New Years, and also a special program that is dedicated to the aborigines of the continent
Island.
Target Market 2: China
The rapidly expanding tourism sector poses opportunities for innovation and product
differentiation as more Chinese travel at home and abroad.
Not long ago, most Asian tourists were from Japan, South Korea, or Hong Kong—the region’s
more affluent markets—but that trend is rapidly changing. The World Tourism and Trade
Council estimates that China in 2011 surpassed Japan to become the second-largest travel and
tourism market in the world in terms of contribution to gross domestic product. Travel within
China, which currently accounts for most Chinese travel and travel spending, is projected to
increase by 16 percent per year and to be worth ¥3.9 trillion ($615 billion) by 2020. Meanwhile,
the country’s outbound travel market will likely expand to triple the size of Japan’s by 2020.
On international trips, most Chinese are willing to spend much more than they do on their
domestic travels, even excluding transportation costs. They also allocate their spending
differently than US travelers. While US travelers prefer to spend the lion’s share of their travel

budget on accommodations and meals, the Chinese devote nearly half of their budget to
shopping. China’s strong gift-buying culture stimulates some of this spending.
Middle-class domestic travelers typically care more about basic services, such as the price and
cleanliness of their accommodations, than they do about value-added extras. This is only a little
less true for the affluent segment, which ranks price below a hotel’s amenities and cleanliness.
Such basic requirements are taken for granted by Western travelers, but Chinese travelers in the
BCG survey said these needs were going unfulfilled, particularly on the domestic front. Most of
the complaints about hotels in China concerned a lack of cleanliness and basic comforts.
Because the travel and tourism sector in China is still relatively undeveloped, it offers some of
the best opportunities in the consumer industry. Companies entering now will be able to set
standards and guide consumers in their shopping behavior. So far, few if any companies are fully
serving the needs of Chinese travelers. That window will not remain open forever. Therefore, it
is important for players to act now.
One of the most interesting differences, from a marketing point of view, between China and the
West is the attitude of internet users towards advertising. While in the West we tend to see
adverts on our mobile devices as an invasion of privacy, users in China actively
welcome targeted online advertising. They are also highly effective. 53% of Chinese mobile
internet users say that their purchasing behavior has been influenced by mobile advertising. 66%
of mobile internet users noticed the advertising being displayed, and 24% were affected enough
by advertising to make a purchase.
China is the largest business market in the planet. China's economy has been reformed and
opened since 1978. A more pragmatic thinking on many political and socio - economic problems
has been approved by the Chinese leadership and therefore the role of ideology in economic
policy has been partly reduced. China has transformed its economy into the market-oriented that
positively impact not only on China but also in the world.
With a population officially over 1.3 billion and an estimated growth rate of 0.494%, China is
very concerned about its population growth and has attempted with mixed results to implement a
strict birth limitation policy. The government's goal is to stabilize the population in the first half
of the 21st century, and 2009 projections from the U.S. Census Bureau are that the Chinese

population will peak at around 1.4 billion by 2026. It can be said that China has a huge
population that supply to the market a profuse workforce, which is an opportunity for Sountech
Technology to expand its business in China.
Another affecting factor that can be considered is the trend of employment with relation to the
unemployment level. The current unemployment rate in China in January 2010 is 4.3%, which
demonstrates that this project would help the society and in turn the economy by creating
positive job opportunities.
Undoubtedly, along with China's rapid industrial development are the serious negative impacts
on the environment, these include increasing pollution and decreasing natural resources as well.
In 2007, China became the world's largest emitter of carbon dioxide and other gases leading to
the greenhouse. WTO conducted a report on the quality of air in 272 cities worldwide, pointed
out seven out of the ten cities that are the most polluted in the world were in China. Water
scarcity also is considered as an issue; taking severe water scarcity in Northern China as an
example that is actually a serious threat to sustained economic growth.
http://www.chinabusinessreview.com/chinas-travel-and-tourism-market-takes-off/
http://www.cuffs.co.nz/files/docs/the%20chinese%20tourism%20market.pdf
http://www.ln.edu.hk/mkt/staff/gcui/Cui%26LiuJCM.pdf
https://www.b2binternational.com/publications/china-market-entry/
http://www.marketmechina.com/find-target-market-marketing-china/
1.1 Lifecycle:
Task 3 Marketing Mix for each Target Market
Conclusion