Marketing plan for Hotel Industry. Focusing on 1) Executive Summary 2) Unique se
ID: 1109075 • Letter: M
Question
Marketing plan for Hotel Industry. Focusing on 1) Executive Summary 2) Unique selling Proposition 3) Pricing and Positioning Strategy 4) Distribution Plan 5) your offers 6) Marketing Materials 7) Promotion Strategy 8) Online marketing Strategy 9) JointVentures and partnerships 10) Referral Strategy 11) Strategy for Increasing Transaction Prices 12) Retention Strategy 13) Financial Peojections Marketing plan for Hotel Industry. Focusing on 1) Executive Summary 2) Unique selling Proposition 3) Pricing and Positioning Strategy 4) Distribution Plan 5) your offers 6) Marketing Materials 7) Promotion Strategy 8) Online marketing Strategy 9) JointVentures and partnerships 10) Referral Strategy 11) Strategy for Increasing Transaction Prices 12) Retention Strategy 13) Financial Peojections 1) Executive Summary 2) Unique selling Proposition 3) Pricing and Positioning Strategy 4) Distribution Plan 5) your offers 6) Marketing Materials 7) Promotion Strategy 8) Online marketing Strategy 9) JointVentures and partnerships 10) Referral Strategy 11) Strategy for Increasing Transaction Prices 12) Retention Strategy 13) Financial PeojectionsExplanation / Answer
1.Executive summary: executive summary includes who are the target customer, the unique selling proposition, distribution strategy,The key offers used to attract customers,online marketing strategy etc. of the business.
2.Unique selling proportion: It is a factor that differentiates a product from its competitors, such as the lowest cost, the best quality etc.
3. pricing and positioning strategy: The pricing and positioning strategy of a business describes the way customers view their business. For ex: If the business is a premium srevice provider, the prices will naturally be high.
4. Distribution plan: Distribution plan depicts how the customers will buy the products. For ex: will they buy from the website of the business, via telephone or from retail shops etc.
5.Your offer: offers are of different types, discount offers, premium offer, guarantee offers etc. A powerfull offer will attract more customers towards thr product.
6. Marketing material: Marketing material is something the business uses to attract the customer's attention. for ex.business cards, brochures etc.
7. Promotion strategy: It means how you promote your business, by which mean, like by advertising on television, radio, social media etc.
8.Online marketing strategy:
Online marketing strategy include:
Keyword Strategy, Search Engine Optimization Strategy, Paid Online Advertising Strategy, Social Media Strategy.
online marketing is more powerful than any other strategy as the business only have to select a target market and make a attractive advertisement that will attract the customers.
9. Joint venture and partnership: Joint venture and partnership is done to increase the revenue.Because if two businesses join together they will have a bigger market to cater.
10. Referral strategy: Referrals strategy is simply asking your existing customers to refer more customers to you and in return the existing customers may get some discount etc.
11. Strategy for increasing transaction prices: To maximize your transaction price,the business can:
Raise Prices,Offer Product Package, Increase the Order Size. By using these ways the business can maximize the transaction prices.
12. Retention Strategy: when a business retains its customers, these customers will buy from that business olny. This is possible when the business offers some loyalty programmes, continuity programmes etc.
13. Financial projection:In the financial projections section, the business should project the potential results of executing the mentioned strategies in the business.
This is the market plan which a business should follow to get success in market.