303MKT Corporate Marketing Strategy: Relaxing Times Hotel Plan

This report outlines a corporate marketing strategy for Relaxing Times Hotel, focusing on marketing audits, external and internal environmental analysis, and growth strategies. It includes a PESTEL analysis to assess political, economic, socio-cultural, technological, and environmental factors influencing the hotel industry. The report also covers SWOT analysis to identify strengths, weaknesses, opportunities, and threats, along with various growth strategies such as price, promotion, attraction, push, and Porter's strategies. It defines marketing objectives, including attracting more tourists, maximizing revenue, and maintaining sustainability. Finally, it details marketing strategies and approaches, emphasizing segmentation, targeting, and positioning to differentiate the hotel's services and attain marketing objectives in a competitive environment. Desklib offers a wealth of study resources, including past papers and solved assignments, to support students in their academic endeavors.

Corporate marketing strategy
Corporate marketing strategy

Corporate marketing strategy
Table of Contents
Introduction.................................................................................................................................................3
Marketing audit...........................................................................................................................................3
External environment..............................................................................................................................3
PESTEL analysis........................................................................................................................................4
Internal environment...............................................................................................................................5
SWOT analysis.........................................................................................................................................5
Growth strategies........................................................................................................................................6
Marketing objectives...................................................................................................................................7
Marketing strategies/approaches...............................................................................................................8
Conclusion.................................................................................................................................................10
References.................................................................................................................................................10
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Corporate marketing strategy
Introduction
The report talks about the marketing plan of relaxing times hotel. It explains that how the
hotel industry conducts a marketing audit in order to attain the long-term mission and vision of
the organization. It is one of the important industries in the world who serve the tourists by
providing effective and dynamic services to them. This industry helps to maintain an effective
and dynamic culture in the country. Further, it also helps to sustain the sustainability in the
organization. Apart from this, the paper focuses on the external and internal analysis to reduce
the key issues and challenges of the market. It describes that how the growth strategies are used
by the company to accomplish the objectives and goals. In addition, segmentation, targeting and
positioning strategies also play an integral role in order to differentiate the services from the
competitors in the global market.
Marketing audit
A marketing audit is important to gain long-term goals and objectives within the
organization. The marketing audit includes external environment and internal environment
(Radulescu and Cetina, 2012). The relaxing time hotel cannot take advantages without effective
marketing audit.
External environment
Macro environment refers to the external environment which influences the success and
growth of the hotel industry. The external factors include political, economic, socio-cultural,
technological and environmental factors. The company needs to analyze and evaluate these
factors to stand out against the competitors in the global market. The external audit is conducted
by relaxing time hotel to evaluate and identify the strengths and weaknesses of the competitors in
the market as well as competitors (Leonidou et al, 2013). Pestle analysis is done by the industry
to measure the external factors. The opportunities and threats of the external environment have
been discussed below.
Strengths
 It helps to measure the needs and requirements of the passengers in the market.
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Corporate marketing strategy
 It also provides high benefit to the tourism industry.
 The industry expands and explores its business activities globally.
Weaknesses
 Competitive prices and similar services could be a potential and biggest threat to the hotel
industry.
 Lack of differentiation is other threat for the relaxing time hotel. Along with this,
bureaucracy and several rules and legislation imposed by the government. It is the
biggest the threat to the organization. The firm needs to focus on these threats to beat the
competitors in the international market. Pestle analysis is done by the hotel to hit the
competitors in the market.
PESTEL analysis
The pestle analysis includes political, economic, socio-cultural, technological and
environmental factors (Cadle, Paul, and Turner, 2010). The pestle analysis has been discussed
below.
Political: The rules and legislation implemented by the government on hotel industry affect the
growth and success. The organization needs to focus on these factors to increase the popularity
as a tourist destination.
Economic: The GDP rate, inflation rate, exchange rate and interest rate affect the profit and
revenue of the organization. The relaxing time hotel needs to focus on these factors to make a
good image in the global market.
Socio-cultural: The people culture, values, customs, and religious influence the business
activities and operations. Therefore, the firm needs to focus on the needs, expectations, and
desires of the passengers.
Technological: Changes in the technology influences the trading operations of relaxing time
hotel. The technological factors help to improve the quantity and quality of the services which
are provided by the hotel industry.
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Corporate marketing strategy
Environmental: The environmental factors also affect the hotel industry, therefore,
environmental awareness is becoming more popular in today’s era.
Internal environment
The internal and external analysis plays an integral role to beat the competitors in the
market. The microenvironment factors affect the performance and efficiency of the hotel. It also
helps to overcome the shortcomings of the competitors in the global market. It also helps to
increase and enhance the revenue and profit of the hospitality industry. The internal factors
include customers, competitors, suppliers, government and employees (Evans, Stonehouse, and
Campbell, 2012). The strengths and weaknesses of the external analysis have been discussed
below.
Strengths
 The relaxing time hotel is located in a prime and favorable location which is easily
reachable and accessible.
 The hotel has obtained a license to serve alcoholic drinks in the organization. The
internal environment helps to increase productivity and efficiency of such hotel.
 It also helps to increase the profit and revenue of the firm.
Weaknesses
 Overpricing of the room rate above the average price level of the parallel room in other
competitive hotels in the world. It is the major weakness of the firm.
 The plans and strategies of the competitors could be a threat to relaxing time hotel.
SWOT analysis
SWOT analysis stands for strengths, weaknesses, opportunities, and threats. It helps to
analyze and identify the plans, strategies, and policies of the competitors. The SWOT analysis
has been discussed below (Tranter, 2009).
Strengths
 The relaxing times hotel provides a safe place to the people when they are away from
home.
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Corporate marketing strategy
 The hotel also provides a contribution in the local economy. It also helps to attract more
tourists in the world.
 It is the place to fulfill the needs and requirements of the clients and tourist.
Weaknesses
 High prices are charged by the relaxing time hotel. Thus, the middle class and lower class
people cannot afford the prices to stay in the hotel.
 Further, the hotel also faces a unique structure in the world. Along with this, high level of
sales tax is paid by the hotel.
 High competition exists in the market. It also affects the position and goodwill of
company in the international market.
Opportunities
 Relaxing times hotel has an opportunity to explore and expand its business globally.
 The peak season often brings international as well as domestic tourism.
 The hotel industry helps to promote and encourage the culture of the country.
Threats
 The local conditions of the country also affect the hotel industry. Sometimes, conflict and
disputes also arise among the people.
 Further, immense and high competition is other biggest threat to the company.
Growth strategies
The growth strategies which help to gain success and growth in near future have been
discussed below.
Price strategies: It one of the significant strategies of relaxing times hotel which helps to
increase the revenue and profit within the organization. It means the prices must be appropriate
according to the income level of the clients. This strategy is used by the hospitality industry to
beat the competitors in the market. The hotel should set the suitable prices to stand out against
the competitors and to attract more tourists in the world (Dolgui and Proth, 2010).
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Corporate marketing strategy
Promotional strategy: It is the second important strategy of relaxing times hotel. It helps to
determine the long-term growth and success of the hospitality industry. Advertisement and
promotion are done by the company to enhance and increase the number of tourists and clients in
the global market. This strategy also helps to create a strong and dynamic identity of the place as
a tourist destination in the international market. Along with this, various tourism campaigns and
programs are conducted by the hotel industry to increase and enhance a huge number of clients
and tourists in the world (Aaker and McLoughlin, 2009).
Attraction strategy: This strategy helps to capture a large number of customers in the market. It
is one of the significant strategies of the marketing objectives. The attraction strategy emphasizes
on the advertising activities in order to determine the growth of the relaxing time hotel. Along
with this, the company needs to focus on the services to attract more tourists in the market
(Swarbrooke and Page, 2012).
Push strategy: This strategy used by the hotel to stimulate and motivate the tourism. It also
helps to run the business activities and operations successfully.
Porter strategy: The porter strategy is used by the hotel to beat the competitors in the world.
The porter strategy includes cost leadership strategy, differentiation strategy and focus strategy
(Manteghi and Zohrabi, 2011). The porter strategies have been discussed below.
 Cost leadership strategy: This strategy helps to provide cost benefits to the company. It
also provides competitive benefits to the hotel industry. By using this strategy, the
organization is able to set the appropriate prices for the rooms in such industry. Along
with this firm can make a strong image in the market.
 Differentiation strategy: The relaxing times hotel uses this strategy to differentiate the
prices of the rooms from the competitors in the international market.
 Focus strategy: This strategy is also used by such hotel to beat the competitors and to
maximize the profit within the organization.
Marketing objectives
The marketing objective of Relaxing times hotel is to attract more tourists and clients as
well by providing attractive and effective services. Further, the company wants to increase and
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Corporate marketing strategy
maximize the revenue and profit in near future with maintaining sustainability within the
organization (Brotherton, 2012). Further, the organization evaluates and identifies the strategies,
policies, and plans of the competitors in order to beat the rivalry in the market (Enz, 2009).
Now it is recommended that relaxing times hotel must focus on the growth strategies to
accomplish the marketing objectives in the competitive environment (Reid and Bojanic, 2009).
In addition, the hotel should also monitor the promotional and advertisement strategies in order
to attain long-term mission and vision within the organization. Further, the firm must focus on
the intensive growth strategies to reduce the cost of services. Apart from this, the organization
should monitor the pricing strategy in order to differentiate the prices of such hotel from the
competitors (Hoque, 2013).
Marketing strategies/approaches
The relaxing times hotel uses various marketing strategies to reach its target market and
to attain the marketing objectives (West, Ford and Ibrahim, 2015). The marketing mix strategies
are effective and unique strategies in order to overcome the competitors. The strategies have
been discussed below.
Segmentation: By using this strategy, relaxing times hotel divides the market into different
segments in order to measure and identify the needs, requirements, and desires of the customers
and clients as well. The hotel divides the marketing on the basis of demographic, geographic, and
psychographic and behavior of the people (Aaker and McLoughlin, 2009). The organization
focuses on the gender, lifestyle, social class, age, and lifestyle of the people in order to segment
the group of people. The segmentation strategy provides wider opportunities to relaxing times
hotel. It provides better growth opportunities to the people. It also helps to maintain an effective
and dynamic communication with tourists in the international market. Through market segment,
the organization is able to increase and maximize the market share within the organization
(Wedel and Kamakura, 2012).
Targeting: It is an effective and dynamic strategy of relaxing times hotel which focuses on the
target market. The targeting is the subset of segmentation and it helps to attain the objectives and
goals of such industry (Lockyer, 2013). This strategy focuses on the income level of the target
group. The organization gives preferences to the customers in order to reach the target audience
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Corporate marketing strategy
in the world. Targeting strategy is also used by the most B2C companies. Under this strategy, the
firm focuses on the target customers in order to increase the number of customers in the
international market. The target group includes younger people, businessmen, higher class
people, and tourists. Further, the company sets the prices to attract middle-class people in the
global world. Targeting is the most significant strategy for the hotel industry to increase and
enhance the number of guests and tourists in the competitive environment.
Positioning: This approach ensures that whether relaxing times hotel is the best possible market
for the people or not. Positioning strategy is implemented by such hotel to attract the more
tourists in the international market. It is the excellent strategy to make a good image in the
competitive world. The marketing mix is used by the hotel industry in order to provide best
services to the customers in the organization (Gregor and Hevner, 2013). Further, positioning
refers to a place that a brand occupies in the mind of the customers in the competitive market. It
is the important element of the marketing plan. Further, this strategy helps to make an effective
and dynamic position in the global world. This approach makes attractive to the promotional
strategy and it also attracts different types of customers in the world. Relaxing times hotel
introduce new services by using positioning strategy within the organization. Further, it also
improves and enhances the competitive strength in the world. In addition, this strategy also helps
to win the customer's loyalty and it also creates a strong goodwill in the market (Grant, 2016).
Now it is recommended that relaxing times hotel should investigate and evaluate the
competitor’s target market as well as clients. It should focus on the segmentation and targeting
strategies to increase the number of clients in the global world. The firm should collect the list of
target customers in order to encourage and promote services of the hotel industry. Apart from
this, the firm must evaluate and identify the hobbies, desires, and interests of the customers to
improve the segmentation, targeting and positioning strategies. None of the company can attain
the goals and objectives without effective and unique segmentation, targeting and positioning
strategies. In addition, the firm must focus on the pestle analysis, SWOT analysis, and porter five
forces model to enhance and increase the success and growth of the firm. Along with this,
relaxing times hotel must focus on the global marketing plan to improve the positioning and
targeting approaches. In addition, the organization should conduct marketing campaigns and
programs to encourage and develop the STP strategies within the organization. If the company
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Corporate marketing strategy
improves and enhances these strategies then the hotel industry can achieve and attain the goals
and objectives of the organization.
Conclusion
On the above aforesaid information, it has been concluded that internal and external
analysis plays an integral role in order to reduce and eliminate the key challenges and risks of the
market. It also helps to make an effective and unique marketing plan in near future. Further,
pestle analysis and SWOT analysis is done by the hotel industry to overcome the competitors in
the international market. Apart from this, the report explains the growth strategies to attain the
goals and objectives of relaxing times hotel. These strategies also help to attract more tourists in
the world. Along with this, segmentation strategies play a crucial role in order to divide the
market into the different target groups in the global market. In addition, targeting and positioning
strategies help to measure and identify the needs, preferences, and desires of the tourists in the
competitive market. Further, it will also help to stand out against the competitors in the world.
Relaxing times hotel uses marketing growth strategies in order to accomplish the mission and
vision of the firm. Apart from this, some suggestions have been given to improve the
segmentation, targeting and positioning strategies in the organization.
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Corporate marketing strategy
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