Next Year Marketing Plan

Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
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Chapter 19Next Year’s Marketing Plan
The marketing department should operate with direction and be proactive. A new marketing plan must be written each year.

2
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.

3
A Marketing Plan
I. Executive summary
II. Corporate connection
III. Environmental analysis and forecasting
IV. Segmentation and targeting
V. Next year’s objectives and quotas,
VI. Action plans: strategies and tactics
VII. Resources needed to support strategies and meet objectives,
VIII. Marketing control
IX. Presenting and selling the plan,
X. Preparing for the future

4
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

5
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.

6
Environmental Analysis and Forecasting
Major environmental factors:
Social
Political
Economic trends
Competitive Analysis
Market Trends
Market Potential
Market Research

7
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).

8
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.

9
Action Plans: Strategies & Tactics
Consider the alternatives for overall strategy, chose those alternatives which you think are most appropriate.

10
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.

11
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.

12
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

13
Presenting and Selling the Plan
Members of marketing/sales department
Vendors/ad agencies
and others
Top management

14
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

Next Year Marketing Plan

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