Comprehensive Marketing Plan for Travelodge's Premium Room Launch

This assignment provides a comprehensive marketing plan for Travelodge, focusing on the launch of its new premium rooms. It details the marketing mix elements (product, price, promotion, people, place, physical evidence, and process) and aligns them with specific business objectives. The plan includes tactics for each element, such as customer feedback for product quality, sales analysis for pricing, social media and radio marketing for promotion, and customer interaction strategies for people. The plan also addresses STP (segmentation, targeting, and positioning), budget allocation for marketing strategies, and executive summary that outlines the key goals and objectives. The essay analyzes how Travelodge can achieve its sales targets, enhance brand value, and provide qualitative services, along with monitoring and evaluation methods for each marketing mix component. The importance of budget and resource availability is also highlighted to ensure the successful implementation of marketing strategies. The plan aims to make the new premium economy rooms a success and increase their numbers with maximum facilities for customers.

Basic marketing plan of Travelodge
Aims and objectives
To make new premium economy rooms of the company a great success and
to enhance their numbers by 1000 with maximum number of facilities for
the customers.
STP process
Travelodge can achieve maximum benefits if its
market is segmented. The company can explore its
services by segmenting marketing regions and
targeting selected audience.
Executive Summary
The marketing plan will help Travelodge to achieve its sales target for
its premium launching rooms. The marketing plan will describe the
marketing strategies which can be used by the organisation to achieve
its objectives
Budget
The company must ensure that availability of resources
before accomplishing marketing strategies. The social
media and radio promotion must have specific budget
sanctioned so that operational cost does not exceed the
planned limits.
Marketing Mix
Business objectives Marketing mix
element
Tactics Monitoring and
evaluation
To maintain the
quality and
innovations in
product
Product Insight from the
consumer behaviour
Products quality can
be monitored by
feedbacks and
response from
customers.
To achieve sales
target
Price Leaders must be on
board
Sales analysis and
performance
evaluation can
monitor the price
element.
To address each
possible target
audience and to
convince them to
use services of
Travelodge.
Promotion Social media and
radio marketing
The popularity in
digital marketing or
social media tools
like pay per click or
search engine
optimization can
provide its
evaluation.
To enhance the
brand value of
Travelodge.
People Customer
interaction strategy
It can be monitored
by employee and
customer
satisfaction or by
feedbacks.
To provide
qualitative services.
Place Establishing basic
goals and plans
Feedbacks from
consumers
To sustain growth
and development.
Physical evidence Learnings from
social media
outcomes
Brand awareness
can be used as tool
to measure and
monitor this factor.
To improve the
functionality with
high level of
accuracy and
efficiency.
Process Understanding
benefits
Competitive
analysis and
suggestion from
stakeholders.
Introduction
Marketing plan provides strategic
direction for achieving the business
goals. The marketing plan will analyse
the elements of marketing mix so that
Travelodge can ensure the success of its
new range of services. It will also
evaluate the impact of segmentation,
targeting and positioning of its services.