Transcript Chapter 4: Career Development

Chapter 9: The Marketing Plan
9.2: Conducting a Marketing Audit
3 Parts of Marketing Audit
 The foundation of any marketing plan is the
marketing audit. The marketing audit is a careful
evaluation of the factors relating to sales potential.
 A marketing audit consists of three parts:
 Property analysis
 Competition analysis
 Situation or marketplace analysis
Property Analysis Steps
 A property analysis is a written, unbiased self-appraisal
used to assess the strengths and weaknesses of a
property.
 The person conducting a property analysis will:
 Examine the building exteriors, landscaping and the
property’s sign
 Evaluate the entire property in terms of traffic flow,
accessibility, eye appeal, and compatibility with local
surroundings
 Note areas for feasible change
Competition Analysis
 A competition analysis helps a property discover:
 Profitable guest groups that the competition is reaching
 Competitive benefit or advantage that others can’t match
 Weaknesses in the marketing strategies of the competition
 To gather this info, hotels often use the following three
forms:
 Competitive rate analysis
 Competitive fact sheets
 Need fulfillment by market segment
Calculating Market Share
 Market share is the number of property room nights a
property has in comparison to all the room nights sold
by all the properties in an area.
 Market share is calculated by dividing the number of
property room nights sold by the total market room
nights sold.
Calculating Fair Share
 Fair share is the number of rooms a property would
sell if demand were distributed evenly based on the
number of rooms in each property
 Fair share is determined by dividing the number of
rooms available at each property by the number of
rooms available in the market as a whole.
Calculating REVPAR
 REVPAR is revenue per available room
 REVPAR is determined by dividing room revenue by
the number of rooms available for sale.
Situation Analysis
 A situation analysis researches the property’s current
position in the marketplace. There are two parts:
 Marketplace analysis
 Occupancy and activity analysis
 A marketplace analysis identifies environmental
opportunities and problems that can affect business. The
occupancy and activity analysis is an analysis of the
property’s past, present and potential operating statistics.
It tracks sales history patterns over a three- to five-year
period.
Assignments
• Complete the Apply Your Learning 9.2, page 242,
questions 1-5
• Complete the Section 9.2 Workbook assignments:
• Add It Up!: Who Has What?, page 131
• Building Your Vocabulary: Scrambling the Market, page
132
• Putting the Pieces Together!: Checking Out the
Competition, page 133
Do you remember?
Time for the Chapter 9.2 quiz.
This is an open book quiz. This must be completed prior
to the Chapter Test. It may only be submitted once. Be
sure you have reviewed your quiz BEFORE you click the
submit button!
Chapter 9.2 Quiz Link