Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Chapter 9 Marketing Strategy: Strategies, Positioning, and Marketing Objectives

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Difference between Tactical and Strategic Marketing Planning Tactical = short-term marketing planning for two years or less Strategic = long-term marketing planning for up to three to five years or more in the future

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Marketing Plan #3 (tactical) Marketing Plan #2 (tactical) Marketing Plan #1 (tactical) Strategic Market Plan (3 to 5 years) Figure 9.1 Relationship of strategic and tactical planning in marketing.

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Requirement s for an effective marketing plan Fact- based Organized and coordinated Programmed Budgeted Flexible Controllable Internally consistent and interrelated Clear and simple Figure 9.4 Requirements for an effective marketing plan.

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Benefits of Having a Marketing Plan 1. Activities matched with target markets 2. Consistency of objectives and target- market priorities 3. Common terms of reference 4. Assistance in measuring marketing success 5. Continuity in long-term planning

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Contents of a Marketing Plan A written plan of action used to guide an organization’s marketing activities for a period of a year or less. Three parts: 1. Executive summary 2. Marketing plan rationale 3. Implementation plan

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Figure 9.6 The Table of Contents for a marketing plan.

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G A Systematic, Five-Step Approach for Marketing Hospitality and Travel Organizations 1. Where are we now?2. Where would we like to be?3. How do we get there?4. How do we make sure we get there?5. How do we know if we got there?

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Marketing Plan Rationale Research findings and assumptions of the plan Marketing strategy Implementation Plan Marketing objectives and action plan Marketing budget, timetable and responsibilities Control and evaluation procedures Executive Summary Summary of the main highlights of the Marketing Plan Figure 9.12 Sequence of completing the three main parts of the marketing plan.

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Steps in Preparing a Marketing Plan 1. Prepare the Marketing Plan Rationale Review and summarize: Situation analysis Marketing research studies Market segmentation Marketing strategy Positioning approaches Target-market selection Segmentation approach and characteristics Marketing mixes (8 Ps) Marketing objectives

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G 2. Develop a Detailed Implementation Plan Design and specify: Steps in Preparing a Marketing Plan (continued) Activities by marketing-mix element (8 Ps) for target markets Responsibilities (internal and external) Timetable and activity schedule Budget and contingency fund Expected results

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Measurements (metrics) Progress reporting procedures Performance standards Evaluation timetable 2. Develop a Detailed Implementation Plan Design and specify (continued): Steps in Preparing a Marketing Plan (continued)

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Steps in Preparing a Marketing Plan (continued) 3.Write the Executive Summary Describe highlights of Marketing Plan Rationale and Implementation Plan

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Historical (arbitrary) budgetingRule-of-thumb budgetingCompetitive budgetingObjective-and-task budgeting* The Four Marketing Budget Approaches * The recommended approach to preparing a marketing budget.

Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G FIGURE 9.11 Steps in developing a marketing plan. An organization with three different target markets.