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Next Year Marketing Plan

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  • 1. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    1
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    6
    Environmental Analysis and Forecasting
    Major environmental factors:
    Social
    Political
    Economic trends
    Competitive Analysis
    Market Trends
    Market Potential
    Market Research
  • 7. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    9
    Action Plans: Strategies & Tactics
    • Consider the alternatives for overall strategy, chose those alternatives which you think are most appropriate.
  • Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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.
  • 10. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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.
  • 11. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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
  • 12. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    13
    Presenting and Selling the Plan
    Members of marketing/sales department
    Vendors/ad agencies
    and others
    Top management
  • 13. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc.
    Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458
    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

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