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Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Chapter 19Next Years Marketing Plan,“If you dont have a competitive advantage, dont compete,.”,-,Jack Welch,“,At Preferred Hotels & Resorts, we believe that the product preferences of affluent customers are as diverse as the consumers themselves,.”,-,Peter Cass,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Chapter Objectives,Know why it is important to have a marketing plan and be able to explain the,purpose of a marketing plan,Prepare a marketing plan following the process described in this chapter,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Purpose of a Marketing Plan,Provides a road map for all marketing activities of the firm for the next year,Ensures that marketing activities are in agreement with the corporate strategic plan,Forces marketing managers to review and think through objectively all steps in the marketing process,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Purpose of a Marketing Plan,Assist in the budgeting process to match resources with marketing objectives,Creates a process to monitor actual against expected results,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Marketing Plan Sections,Executive Summary,Corporate Connection,Positioning Statement,Environmental Analysis and Forecasting,Segmentation and Targeting,Next Years Objectives,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Marketing Plan Sections,Resources Needed to Support Strategies and Meet Objectives,Marketing Control,Presenting and Selling the Plan,Preparing for the Future,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section I: Executive Summary,Write it for top executives,Limit the pages to between two and four,Use short sentences and paragraphs. Avoid using words that are unlikely to be understood,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section I: Executive Summary,Organize the summary as follows: describe next years objectives in quantitative terms; briefly describe marketing strategies to meet goals and objectives, including a description of target markets; describe expected results by quarter; identify the dollar costs necessary, as well as key resources needed,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section I: Executive Summary,Read and reread the executive summary several times. Modify and change the summary until it flows well, is easily read, and conveys the central message of the marketing plan,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section II: Corporate Connection,Relationship to Other Plans,Corporate goals with respect to profit, growth, etc.,Desired market share,Positioning of the company or of its product lines,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section II: Corporate Connection,Relationship to Other Plans,Vertical or horizontal integration,Strategic alliances,Product line breadth and depth,Customer relationship management (CRM),2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section II: Corporate Connection,Marketing Related Plans,Sales,Advertising and promotion,Public relations and publicity,Marketing research,Pricing,Customer service,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section II: Corporate Connection,Corporate Direction,Mission Statement,Corporate Philosophy,Corporate Goals,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section III: Environmental Analysis and Forecasting,A marketing plan should provide a positioning statement of how the enterprise intends to differentiate position itself in the marketplace,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section III: Environmental Analysis and Forecasting,Major Environmental Factors,Social,Political,Economic,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section III: Environmental Analysis and Forecasting,Competitive Analysis,Market Trends,Visitor Trends,Competitive Trends,Related Industry Trends,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section III: Environmental Analysis and Forecasting,Market Potential,should be viewed as the total available demand for a hospitality product within a particular geographic market at a given price,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section III: Environmental Analysis and Forecasting,Market Research,Macromarket information,Industry trends, s,ocial-economic political trends, competitive information, industry wide customer data,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section III: Environmental Analysis and Forecasting,Market Research,Micromarket Information,Guest information, product/service information, new product analysis and testing, intermediary buyer data, pricing studies, key account information, advertising/promotion effectiveness,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section IV: Segmentation and Targeting,Segmentation Analysis,is t,he selection of segments as the result of,Understanding what the company is and what it wishes to be,Studying available segments and determining if they fit the capabilities and desires of the company to obtain and secure them,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section IV: Segmentation and Targeting,Targeting,Begins by defining the mix of desired guests,support the positioning strategy of the company,support revenue management,Selected from the list of available segments,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section V: Next Years Objectives and Quotas,Objectives,Must be quantitative, time and profit/margin specific,Established after considering c,orporate goals, corporate resources, environmental factors, competition, market trends, market potential, a,vailable market segments and possible target markets,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section V: Next Years Objectives and Quotas,Quotas must be:,Based on next years objectives,Individualized,Realistic and obtainable,Broken down to small units,Understandable and measurable,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VI: Action Plans: Strategies and Tactics,Marketing strategies and tactics employ advertising and promotion, sales and distribution, pricing and product,Must be custom designed to meet the specific needs of a company,Must allow,companies to meet or exceed objectives,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VI: Action Plans: Strategies and Tactics,Sales Strategies,Prevent erosion of key accounts,Grow key accounts,Grow selected marginal accounts,Eliminate selected marginal accounts,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VI: Action Plans: Strategies and Tactics,Sales Strategies,Retain selected marginal accounts but provide lower-cost sales support,Obtain new business from selected prospects,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VI: Action Plans: Strategies and Tactics,Advertising and Promotion Strategies,Select a blend or mix of media,Select or approve the message,Design a media schedule showing when each medium,will be employed,Design a schedule of events,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VI: Action Plans: Strategies and Tactics,Advertising and Promotion Strategies,Carefully transmit this information to management,Supervise the development and implementation of advertising/promotion programs,Assume responsibility for the outcome,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VI: Action Plans: Strategies and Tactics,Pricing Strategies,Pricing is a function of marketing,Fencing,is,placing restrictions on customer segments selected due to their perceived level of price elasticity,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VII: Resources Needed to Support Strategies & Meet Objectives,Personnel,Other Monetary Support,Research, Consulting, and Training,Miscellaneous Costs,Budgets,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section VIII: Marketing Control,Sales Objectives,Sales Forecast and Quotas,Expenditures against Budget,Periodic Evaluation of All Marketing Objectives,Marketing Activity Timetable,Readjustments to Marketing Plan,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section IX: Presenting and Selling the Plan,Members of marketing/sales departments,Vendor/ad agencies and others,Top management,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Section X: Preparing for the Future,Data Collection and Analysis,Marketing as a Tool for Growth,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Key Terms,Competitive analysis,Environmental factors,Executive summary,Market potential,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Best Practices,Preferred Hotels and Resorts Worldwide,Rittenhouse Hotel, Philadelphia,Seabourn/Windstar Cruises,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,Key Terms,Market trends,Marketing objectives,Quotas,Segmentation analysis,Timetable,2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition,Upper Saddle River, NJ 07458 Kotler, Bowen, and Makens,
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