Transcript Chapter 19 Next Year`s Marketing Plan

Chapter 19
Next Year’s
Marketing
Plan
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing for Hospitality and Tourism, 4th edition
Kotler, Bowen, and Makens
“If you don’t have a competitive advantage, don’t
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Marketing Plan Sections
I.
II.
III.
IV.
Executive Summary
Corporate Connection
Positioning Statement
Environmental Analysis and
Forecasting
V. Segmentation and Targeting
VI. Next Year’s Objectives
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Marketing Plan Sections
I.
Resources Needed to Support
Strategies and Meet Objectives
II. Marketing Control
III. Presenting and Selling the Plan
IV. Preparing for the Future
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section I:
Executive Summary
• Organize the summary as follows:
describe next year’s 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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section II:
Corporate Connection
• Corporate Direction
• Mission Statement
• Corporate Philosophy
• Corporate Goals
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section III:
Environmental Analysis and
Forecasting
• Major Environmental Factors
– Social
– Political
– Economic
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section III:
Environmental Analysis and
Forecasting
• Competitive Analysis
• Market Trends
– Visitor Trends
– Competitive Trends
– Related Industry Trends
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section III:
Environmental Analysis and
Forecasting
• Market Research
– Macromarket information
• Industry trends, social-economic
political trends, competitive
information, industry wide customer
data
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section IV:
Segmentation and Targeting
• Segmentation Analysis is the
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section V:
Next Year’s Objectives and
Quotas
• Objectives
– Must be quantitative, time and
profit/margin specific
– Established after considering
corporate goals, corporate resources,
environmental factors, competition,
market trends, market potential,
available market segments and
possible target markets
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section V:
Next Year’s Objectives and
Quotas
• Quotas must be:
– Based on next year’s objectives
– Individualized
– Realistic and obtainable
– Broken down to small units
– Understandable and measurable
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
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.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section IX:
Presenting and Selling the
Plan
• Members of marketing/sales
departments
• Vendor/ad agencies and others
• Top management
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Section X:
Preparing for the Future
• Data Collection and Analysis
• Marketing as a Tool for Growth
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Key Terms
• Competitive analysis
• Environmental factors
• Executive summary
• Market potential
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Best Practices
• Preferred Hotels and Resorts
Worldwide
• Rittenhouse Hotel, Philadelphia
• Seabourn/Windstar Cruises
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens
Key Terms
• Market trends
• Marketing objectives
• Quotas
• Segmentation analysis
• Timetable
©2006 Pearson Education, Inc.
Upper Saddle River, NJ 07458
Marketing
Marketing
for Hospitality
for Hospitality
and Tourism,
and Tourism,
4th edition
4th edition
Kotler,
Kotler,Bowen,
Bowen,and
andMakens
Makens