Download - 2b Marketing Plan & 8P-y3
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Marketing Plan & 8P
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Difference between Tactical and
Strategic Marketing Planning
Tactical = short-term marketing
planning for two years or less.
Strategic = long-term marketing
planning for up to three to five years
in the future.
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Eight Requirements for an
Effective Marketing Plan
1. Fact-based
2. Organized and coordinated
3. Programmed
4. Budgeted
5. Flexible
6. Controllable
7. Internally consistent and interrelated8. Clear and simple
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Benefits of Having a
Marketing Plan
1. Activities matched with target markets.
2. Consistency of objectives and target-market priorities.
3. Common terms of reference.
4. Assistance in measuring marketing
success.5. Continuity in long-term planning.
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Contents of a Marketing Plan
A written plan of action used to guide an
organizations marketing activities for a
period of a year or less.
Three parts:
1. Executive Summary
2. Marketing Plan Rationale3. Implementation Plan
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1. Where are we now?2. Where would we like to be?
3. How do we get there?
4. How do we make surewe get there?
5. How do we know if
we got there?
A Systematic, Five-Step Approach for
Marketing Hospitality and Travel
Organizations
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Contents of a Marketing Plan
Marketing Plan Rationale
Situation analysis highlights:
Where are we now?
Selected marketing strategy:Where would we like to be?
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Contents of a Marketing Plan
Implementation Plan
Activities plan
Marketing budget
How do we get there?
Control procedures
How do we make sure we get
there?
Evaluation procedures
How do we know if we got there?
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Approaches to Developing
Marketing Budgets
1. Historical or arbitrary budgeting
2. Rule-of-thumb budgeting
3. Competitive budgeting
4. Objective-and-task budgeting
(recommended approach)
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Steps in Preparing a Marketing Plan
1. Prepare the Marketing Plan Rationale
Review and summarize: Situation analysis
Marketing research studies Market segmentation
Segmentation approach and bases
Target-market selection
Marketing strategy
Positioning approaches Marketing mixes
Marketing objectives
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Steps in Preparing a Marketing Plan
2. Develop a Detailed Implementation Plan
Design and specify: Activities by marketing-mix element for target
markets Responsibilities (internal and external)
Timetable and activity schedule
Budget and contingency fund
Expected results
Measurements Progress reporting procedures
Performance standards
Evaluation timetable
3. Write the Executive Summary
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The 8Ps of
Hospitality and Travel Marketing
Traditional
Product Price
Place
Promotion
Additional
Packaging
Programming People
Partnership
M k ti Pl D l t P
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Marketing
Mix (8Ps)
Objectives
Positioning
Marketing Strategy &
Target Market Selection
Situation Analysis & Research Results
Target Market
1Target Market
2
Target Market
3
Positioning
Objectives
Marketing
Mix (8Ps)
Positioning
Objectives
Marketing
Mix (8Ps)
Marketing Plan
Example of an organizationwith three target markets
Marketing Plan Development Process