1. Chapter Twenty-One
The Marketing Plan

2. Marketing Plan
Outlines the steps that guide specific action for the coming year
Requirements:
It is workable
It is realistic and flexible
It should have measurable, achievable goals

3. Development of the Marketing Plan
Begins with the mission statement
State what worked well in the past and broad objectives for the year

4. Data Collection External environment Internal environment
International and domestic industry trends
Various external impacts
Recognize factors that will affect your business
Data on potential competitors, even in times of market change
Keep in mind new customers and ways to attract them
Internal environment
Current data on occupied rooms by market segment
Listing of strengths and weaknesses

5. Data Analysis Environmental and market trend analysis
Competitive and demand analysis
Property needs analysis
Creation of new business
Capturing competitors’ business
Internal analysis
Market analysis

6. The Mission and Marketing Position Statement
The marketing position statement is a broad statement of objectives at the unit level.
Write or re-write after situation analysis completed
Encompasses one year
Is the “position” in the eye of the consumer

7. The Mission and Marketing Position Statement (cont.)
Opportunity analysis
Lays the groundwork for tackling opportunities
Objectives and methods
Establish objectives and how they will be accomplished
Usually directly measurable
Action plans
Develop and achieve each objective
Made yearly and updated quarterly
The marketing forecast
Difficult, but need an educated attempt

13. The Marketing Budget U.S. hotel average: 4.5-5.5% of gross revenue
Selling not advertising
Differences by property type
Return on investment
Essential conclusions

14. Marketing Controls Match performance against desired results
Use benchmark measurements
Establish a feedback system
Make changes as needed