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Planning for Marketing

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Lecture for the Subject Tourism Marketing for the College of International Travel and Hospitality Management of the Lyceum of the Philippines Cavite for the Second Semester of Academic Year 2015-2016.

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Planning for Marketing

  1. 1. Unit 2
 
 Planning for Marketing
  2. 2. Unit Topics
 ★Business plans vs marketing plan ★Business Plan- Definition, Uses, Part, Components and Kind ★Marketing Plan - Definition, Uses, Parts, Components and Kind
  3. 3. Prepare a Plan, or Prepare to Fail. Source: http://imm-uk.com/tag/marketing-plan/#!prettyPhoto[667]/0/
  4. 4. 4 Definition A business plan is the written description of your business’s future. It describes what your plan to do and how you plan to do it. A business plan conveys your business goals, the strategies you will use to meet them, potential problems that may confront your business and ways to solve them, the organisational structure of your business (including titles and responsibilities) and finally the amount of actual required to finance your venture and keep it going until it breaks even. - - entrepreneur.com
  5. 5. 5 Business plans can help perform a number of tasks: 1. Investment tool 2. Attracting key employees 3. Dealing with suppliers 4. Managing the business - entrepreneur.com 5
  6. 6. 6 The Primary Parts of a Business Plan ★Business Concept • Vision goals and objectives • Where do we want to be? ★Marketplace Section • Strategies - What are your chosen routes for achieving goals? • Plans - What are action programs for moving along the route and evaluating achievement against targets?) ★Financial Section Source: http://entrepreneurcom
  7. 7. 7 The 7 KEY COMPONENTS ★Executive Summary ★Business Description ★Market Strategies ★Competitive Analysis ★Design and Development Plan ★Operations and Management Plan ★Financial Factors 7 Source: http://entrepreneurcom
  8. 8. 8 Kinds of Business Plan? ★Miniplan ★The Working Plan ★The Presentation Plan ★The Electronic Plan 888 Source: http://entrepreneurcom
  9. 9. 9 Breaking down the Business Plan
  10. 10. Strategic Business Planning 
 All forms of business planning attempt to answer four outward looking questions ✓ Where are we now, in the industry and market spaces we occupy? ✓ What opportunities are emerging in a changing world, which we could develop and aim to lead ✓ Where do we want our organization to be in 5 or more years time? ✓ What decisions do we have to make now to get to where we want to be?
  11. 11. Vision and Mission Why the company exists PURPOSE STRATEGY VALUES BEHAVIOR STANDARDS The competitive position and Distinctive competence What the company believes in The policies and behavior patterns that underpin the distinctive and value system Figure 4.1 Corporate puropse, values, policies and positioning: The Ashridge Model Source: Middleton, V.T.C., Fyall. A., Morgan, M. & Ranchhod, A. (2009). Marketing in Travel and Tourism 4th ed Butterworth-Heinemann
  12. 12. BUSINESS ENVIRONMENT ANALYSIS The first stage of the strategic business planning process is to carry out a thorough analysis of the factors in the external environment which affect a business. The analysis environment which will affect a business. The analysis should evaluate the macro- environment; the global influences that affect all business and the micro-environment; the factors specifically affecting the company, its customers and its competitors.
  13. 13. The Marketing Strategy Planning Process The key components of marketing strategy are: • Goals • Positioning and branding • Strategies and programs • Budget • Review and evaluation
  14. 14. Strategies for product-market growth and development 1 Market Presentat ion 2 Product Developm ent 3 Market Developm ent Diversific ation Present Products New Products PresentMarketsNewMarkets Figure4.2Product-marketgrowthstrategies (fourbasicoptions) Source:Middletone,V.T.C.,Fyall,Morgan,M.&Ranchhod,A.(2009). MarketinginTravelandTourism(4thed.).Butterworth-Heinemann.
  15. 15. It is the written document that describes your advertising and marketing efforts for the coming year; it includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix you intend to use to reach your marketing goals. - entrepreneur.com Marketing Plan : Definition
  16. 16. 16 Benefits of a Marketing Plan ★Rallying Point ★Chart to Success ★Companies’s Operational Instructions ★Captured Thinking ★Top Level Reflection 16161616 Source: http://entrepreneur.com/article/43018
  17. 17. 17 Use the 4 P’s in your marketing plan Product: The marketing plan identifies the ‘hook’ for a product or service. Know who your target audience is, and why they should be willing to buy what you are selling. Tell everyone why they should buy yours instead of your competitor’s. Price: What pricing strategy will your practice follow for this product/service? Is the plan to sell large volumes so the economies of scale can keep the price low? Or will be marketed as a boutique practice, which keeps the service and products more exclusive but the prices higher?
  18. 18. 18 Use the 4 P’s in your marketing plan Promotion: What is the advertising strategy? How will the service/product be packaged? Are you using your satisfied patients and customers as your best salespeople? Are you using advanced technology to promote your practice, and the wealth of knowledge of your physicians? All of these questions need to be addressed and written down so that the marketing campaign is focused. Place: How will the product/service be distributed? Will it be pushed out through social media channels, print, traditional broadcast media outlets, or all of the above. 18
  19. 19. 11/14/12
  20. 20. STEPS IN THE MARKETING PLANNING PROCESS Steps for a systematic marketing planning process: >> Diagnosis : Analysis or audit of current markets, consumers’ behavior and satisfaction, product trends, and other selected aspects of the internal and external environment. >> Marketing objectives >> Marketing-mix program: Covering all the actions required to achieve the objectives >> Marketing budget >> Monitoring, evaluation and control: Feeds back into diagnosis
  21. 21. 21 Let us include Travel and Tourism in the Marketing Mix
  22. 22. Marketing campaigns in travel and tourism The two main dimensions: 1. Promotional techniques designated to motivate and move or push prospective customers toward a point of sale 2. Facilitation of access techniques designed to pull and make it as easy as possible for motivated people to achieve their intended purchase, especially at the point of sale.
  23. 23. The principal marketing campaign techniques used in travel and tourism Activity Notes Paid for media advertising Includes TV, press, radio and outdoor. Also includes tourist board and other travel guides, books, and brochures. Internet Includes sales literature and print items specially designed for distribution for this purpose Direct mail/door to door Includes sales literature and print items specially designed for distribution for this purpose Public relations All media exposure achieved as editorial matter. Also other forms of influence achieved over target groups-customers and stakeholders Sponsorship An alternative form of media to reach specified target groups Exhibition/show/workshops Important alternative forms of distribution and display for reaching retail, wholesale and consumer target groups Personal selling Via meetings, telephones, e-mail, and workshops. Primarily aimed at distributors and intermediaries purchasing on behalf of groups of consumers
  24. 24. The principal marketing campaign techniques used in travel and tourism Activity Notes Sales literature(print) Especially promotional brochures and other print used in a servicing/facilitation role. Sales promotion Short term incentives offered as inducements to purchase, including temporary product augmentation. Cover sales force and distribution network as well as consumers Price discounting A common form of sales promotion. Includes Internet offers and extra commission and bonuses for retailers Point of sale displays and merchandising Posters, window dressing, displays of brochures and other materials both of a regular and temporary incentive kind. Familiarization trips and educational Ways to motivate and facilitate distributor of brochures and other materials both of a regular and temporary incentive kind. Distribution networks and commission Organized systems or channels through which prospective customers achieve access to products. Includes CRSs and the Internet
  25. 25. Marketing campaign budgets Setting campaigns budgets depends on finding answers to three key questions: >> How much money must be spent in total on a marketing campaign, in order to achieve objectives? >> How will the total split between the products and segments included in the campaigns? >>How will the total be divided between the component parts of the action program?
  26. 26. 26 Budgeting methods ★Affordable method. ★Percentage of sales revenue method ★Competitive parity method (matching competitors’ spending) ★Objective and task method
  27. 27. Marketing Plan Performance measurement 1. Evaluation 2. Monitoring 3. Marketing control There is also a fourth related form of measurement: >> Innovation, experimentation and test marketing
  28. 28. Campaign Plan Monitoring 1. Sales variance - the marketing firm looks at marketing objectives of the campaign plan in fixed volume or revenue targets. (ex. 10% increase of sold seats in an airline or 10% increase in hotel rooms sold) 2. Market share variance - Monitoring the success of your marketing campaign through market share. (example: Hamilo Cost has captured an additional 5% of the high end traveller market for the first quarter of the year) 3. Customer satisfaction variance - the regular monitoring of customer satisfaction with the tourism product. This will determine which sector of the product will need evaluation and development (example: hotel satisfaction in various sectors like: food, rooms, facilities, or service) 4. Ratio variance : the financial comparisons between marketing expenditures and revenue targets and then revenue achieved.
  29. 29. 1.DUSIT THANI GUIDED LESSON PLAN FOR TOURISM MARKETING 2.www.entrepreneur.com 3. http://manhabrasileira.com/marketing-plan/ 4. http://www.lisamariewark.com/are-you-a-man- with-a-plan Source: http://imm-uk.com/tag/marketing-plan/#! prettyPhoto[667]/0/ REFERENCES

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