Marketing in Travel and Tourism Strategic Marketing Planning

Lesson Outcomes P2.1: Analyse the importance of strategic marketing planning for a selected travel and tourism business or tourist destination (Collette Worldwide) (Analyse – Identify separate factors; say how they are related and how each one contributes to the topic)

Purpose of a strategic marketing plan Provide clear direction to the marketing operation Coordinate organisational resources Set measurable targets for progress Minimise risk Targeting of different segments Record of marketing plans and policies Focus on longer term business objectives (Cooper et al, 2005 P.611)

Marketing Plan Strategic Goals Broad in its approach Not usually expressed in quantifiable terms Where a company wishes to be Long-term

The purpose of a marketing plan 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 (Kotler et al, 2014)

Corporate Direction – Mission/Goals A good marketing plan should support the enterprise and what it is thriving to achieve. This can be communicated through the companies mission statement, corporate philosophy or corporate goals. It needs to be shared with managers, employees and the public. “To embrace the human spirit and let it fly.”

Corporate Direction - Mission/Goals Vision: “To be the global leader in location based branded family entertainment” Mission: "The delivery to our visitors of high quality memorable visitor experiences“ Vision: “Making travel experiences special”. Values: “Customer Driven Responsible Leadership Value Driven Playing to Win”

Key components of Marketing Strategy Build up market picture Market research Internal/external audit STEP / PESTLE Competitors Porter

Competitive Analysis

Analysis of business situation SWOT Business Portfolio Analysis (Boston Box) Product Life Cycle (PLC)

SWOT

The Boston Matrix

Product Life Cycle

Analysis of strategic options - Objectives Ansoff's Grid Competitive Advantage (Porters model)

Ansoff’s Matrix

Competitive Advantage

Competitive Advantage Answers to Exercise

Tactical Objectives: Shorter term focus Sets the framework for marketing tasks Integrated with the corporate strategy / goals Precise and quantifiable (SMART) Agreed and endorsed by managers and communicated to all staff

Marketing Plan Strategies Evaluate impact Measurement and control Positioning and Segmentation Marketing mix – actions based on tactical objectives Evaluate impact Review Measurement and control Review bookings / sales Customer satisfaction surveys

Conclusion Marketing planning is the most important activity for any travel and tourism organisation. “The long term survival of organisations is related to the way that an organisation understands how to assess its environment, set sensible objectives and choose logical strategies for achieving success.” Cooper et al (2005)

Bibliography www.marketingteacher.com Cooper, C, Fletcher, J, Gilbert, D, Fyall, A and Wanhill, S (2005) “Tourism: Principles and Practice” 3rd Ed Pearson Education Limited Middleton, V, T, C. Fyall, A. & Morgan, M. with Ranchhod, A. (2009) 4th Ed “Marketing in Travel and Tourism” Elsevier Ltd Kotler, P. Bowen, J. T. & Makens, J. C. (2010) 5th Ed “Marketing for Hospitality and Tourism” Pearson