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Chapter Twenty-One The Marketing Plan Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Marketing Plan Outlines the steps that guide specific action for the coming year Requirements: – It is workable – It is realistic and flexible – It should have measurable, achievable goals Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Development of the Marketing Plan Begins with the mission statement State what worked well in the past and broad objectives for the year Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Data Collection External environment – International and domestic industry trends – Various external impacts – Recognize factors that will affect your business – Data on potential competitors, even in times of market change – Keep in mind new customers and ways to attract them Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition Internal environment – Current data on occupied rooms by market segment – Listing of strengths and weaknesses © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Data Analysis Environmental and market trend analysis Competitive and demand analysis Property needs analysis Creation of new business Capturing competitors’ business Internal analysis Market analysis Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. The Mission and Marketing Position Statement The marketing position statement is a broad statement of objectives at the unit level. – Write or re-write after situation analysis completed – Encompasses one year – Is the “position” in the eye of the consumer Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. The Mission and Marketing Position Statement (cont.) Opportunity analysis – Develop and achieve each objective – Made yearly and updated quarterly – Lays the groundwork for tackling opportunities Objectives and methods – Establish objectives and how they will be accomplished – Usually directly measurable Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition Action plans The marketing forecast – Difficult, but need an educated attempt © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. The Marketing Budget U.S. hotel average: 4.5-5.5% of gross revenue Selling not advertising Differences by property type Return on investment Essential conclusions Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Marketing Controls Match performance against desired results Use benchmark measurements Establish a feedback system Make changes as needed Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism, 4th edition © 2007 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved.
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