next year marketing plan
TRANSCRIPT
1Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Chapter 19
Next Year’s Marketing Plan
The marketing department should operate with direction and be proactive. A new
marketing plan must be written each year.
2Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
A marketing plan serves several purposes within any hospitality company:
• 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
• Assists in the budgeting process to match resources with marketing objectives
• Creates a process to monitor actual against expected results.
3Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
A Marketing Plan
I. Executive summaryII. Corporate connection III. Environmental analysis and forecastingIV. Segmentation and targetingV. Next year’s objectives and quotas,VI. Action plans: strategies and tacticsVII. Resources needed to support strategies and
meet objectives,VIII. Marketing control IX. Presenting and selling the plan, X. Preparing for the future
4Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
• Overview of the entire plan, including a description of the product or service, the differential advantage, the required investment, and anticipated sales and profits.
• Table of Contents
Executive Summary
5Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Corporate Connection
• A marketing plan is not a stand-alone tool. It must be linked to the firm’s strategic plan and supported by the other functional areas.
6Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Environmental Analysis and Forecasting
• Major environmental factors:– Social – Political – Economic trends
• Competitive Analysis• Market Trends• Market Potential • Market Research
7Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Segmenting and Targeting• Describe your target market segment in
detail by using demographics, psychographic, geographic, life-style, or whatever segmentation is appropriate. Why is this your target market. How large is it? (Size may be described by both geographic dimensions and actual numbers).
8Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Next Year’s Objectives and Quotas
• Give the overall marketing goals of the firm. State precisely the marketing objectives in terms of sales volume, market share, return on investment, awareness, or other measurement and indicate the time needed to achieve each one.
9Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Action Plans: Strategies & Tactics
• Consider the alternatives for overall strategy, chose those alternatives which you think are most appropriate.
10Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Action Plans: Strategies & Tactics
• State how you will implement the marketing strategy (s) chosen in terms of product, price, promotion, distribution, and other tactical variables. The tactical section will become your action plan. It should be specific, include times, persons responsible, and other details. Someone new to the business should be able to pick up the action plan and implement it, because it states clearly and precisely what is to be done. Any potential problem areas with the implementation of the plan should be mentioned, along
with suggestions on to avoid them.
11Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Resources needed to support strategies and meet objectives
Compute sales increases and contribution margins to justify your marketing plan. These will be compared with a detailed budget for the marketing plan.
12Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Marketing Control• Sales objectives• Sales forecast and quotas• Expenditures against budget• Periodic evaluation of all marketing
objectives• Marketing activity timetable• Readjustments to the marketing plan
13Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Presenting and Selling the Plan
Members of marketing/sales
department
Vendors/ad agencies
and others
Top management
14Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
Preparing for the Future
• Market planning as a growth tool– Managers learn to set objectives and timetables– Managers learn to establish strategies and
develop tactics to achieve them