Marketing Plan Towards Profits

TASK

Marketing plan refers to the blueprints of set of activities which an organisation uses for implementing marketing strategy. It helps the business in utilizing all the available resources so that targeted goals can be achieved in given time period including sales and customers satisfaction. In context to Roker Hotel, its marketing manager have prepared marketing plan in order to generate revenue of the organisation during renown event named as Sunderland Tall Ship race. This event is going to be start from 11^thJuly to 14^thJuly 2018. In this event approximately 55 ships are participating from around 16 countries. It can be said that approximately 1.5 million of people are going to attend the event as it is free family event. This event is considered as the opportunity for Hotel Roker in order to increase its sales and generate high revenue for the organisation.

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Smart objective

• To increase revenue from premium segment rooms by 15% in 4 days (11^thJuly - 14^thJuly 2018) of ship race.
• To determine sales revenue by analysing competitors position as it has increased from 15%-20%.

Vision of the company:

Increasing number of footprints across the world by opening new hotel at every location with similar level quality.

Mission of the company:

Hotel Roker is committed towards needs and requirements of guest by proving them luxurious products and services at their every visit. 

PESTLE analysis

PESTLE analysis refers to the tool which helps marketing team of organisation to analyse external factors which have impact over organisations. Factors which are involved in PESTLE analysis are described as below:

Political: It is required by every organisation to perform their business activities according to government legislations. In context to Hotel Roker, changes in legal policies like foreign trade policy, trade restrictions, tax policy etc. may affect business of the hotel. Changes in legal laws of visa renewal may affect negatively as many visitors have to cancel their programs if Visa is not renewed. This will cancel booking at the time of event. Manager of Hotel Roker can minimise this affect by confirming booking from the customers at least 48 hours before event. So that they can refill their vacant rooms accordingly and meet target sales.

Economic: It includes interest rates, inflation, economic growth, disposable income of consumers etc. In relation with Hotel Roker, recession in UK have reduced disposable income of customers and minimised their visiting to the hotels and restaurants etc. This have increased number of vacant room in hotel. Marketing manager have opted various promotional activities like Sales promotion which provides heavy discount to customers and attract them to use its services at regular interval.

Social: Socio culture factors are related to the beliefs, attitude of population which influences their buying behaviour. Sunderland Tall Ship Event have increased opportunity for Hotel Roker as this hotel provides premium quality accommodation to the customers which attracts premium visitors of the event. Along with this, location of hotel Roker is near to the venue of event that provides easy convenience to the visitors.

Technological: Usage of technology is considered as beneficiary factor for Hotel Roker as it adapts latest technology in its operational activities. Marketing team of this organisation is using advance technology to promote their services among customers. It includes social media like TripAdvisor, Facebook, Booking.com, Twitter etc. All of these enhances brand name of the Hotel Roker among customers and increases its sales. It also helps customers to book their room in advance at the time of event.

Legal: It is essential for every business organisation to formulate their strategies according to the legal norms of the country. These norms includes safety standards, customers laws, labour laws etc. Hotel Roker provides safety to its customers as well as the employees within its own premises. This helps them in retaining employees for longer duration and also attracts customers so that they can stay in safe place. As a result it enhances sales of the Hotel Roker during event.

Environmental: Environmental factor involves those factors which are influenced by surrounding environment of organisation. In relation to Hotel Roker, changes in climatic condition during the timing of the event that is 11^thJuly to 14^thJuly may cancel the planning of visitor and impact negatively on the booking of this Hotel.

Porter's model

Porter's five forces model is considered as the effective tool which helps in understanding present competition among the industry and availability of various opportunities that are profitable for organisation. There are five forces which helps in identifying actual position of business organisation. And these forces are evaluated as below:

Bargaining power of Buyer:Bargaining power of customer is high for Hotel Roker as its customer are seeking for high quality services in their budget. And if these customers can get required services in less prices from other hotel they will surely move to that one. Here, there are various hotels which offers approximately similar kind of services in less price during the timing of event. So, It is required by this organisation to maintain their quality level  in order to influence maximum number of customers towards them.

Bargaining power of suppliers:Bargaining power of supplier is high for Hotel Roker as there are huge number of supplier in Sunderland which provides raw materials to the hotels. These provides product to this hotel on time with quality. Hotel Roker have to agree with rates which are offered by supplier as if they will not agree then their loyal supplier can give its product to other hotels. Personal relationship officer of this hotel should maintain positive relationship with the suppliers so that raw materials for the organisation can be received on time.

Threat of new entrants:Threat of new entrants is low for Hotel Roker as this industry requires is requires huge capital so for developing their specific position among customers. Hotel Roker have build up its position among its customers range which have grabbed their own position in customers mind. It is quite difficult for the new entrant to build similar kind of customer base which minimises their entrance in the industry.

Threats of substitutes: It refers to the new product and service which is replicated by other company in different manner. In context to Hotel Roker, threats of its substitutes is high as it belongs to hospitality industry. These substitutes can increase visitor of event services of substitutes are different and attractive. Along with this, these substitute company may offer new services in less prices to the customers.

Rivalry among existing firms:Rivalry among existing firm is high for Hotel Roker as there are lots hotel in Sunderland who provides similar kind of services to its customers in order to attract maximum number of visitors of the event. This may affect the sales of the company and reduce its customers. Management of Hotel Roker should provide training its staff to serve its customers with high quality. Along with this, they can also avail high discounts and free vouchers to the visitors of the event. It will maintain sales of this hotel according to the expectation.

STP

Marketing activities of an organisation are basically based on three essential criteria that Segmentation, Targeting and Position. STP of Hotel Roker according the Sunderland Tall Race event are evaluated as below:

Segmentation: Segmentation is used by organisation to divide its customers on the basis of their demographic, geographical, behavioural and psycho-graphic. It helps organisation in marking their strategies in cost effective manner in order to meet requirement of maximum customers. In context to Hotel Roker, its marketing team have mainlly segmented

Targeting: Marketing team of Hotel Roker have targeted its customers on the basis of psycho-graphic segment. In this, majorly focus of company is on premium customers as they can give maximum benefit to the Hotel. As Sunderland Tall Ship event will definitely attract maximum number of visitors which includes premium customers too. In relation to this, marketing team of Hotel Roker have formulated various marketing strategy for attracting targeted customers.

Positioning: Positioning refers to the process of developing brand image of the organisation in front targeted audience in effective manner. Marketing manager of Hotel Roker have opted sales promotion for increasing its brand recognition among customers. Along with this, social media is also used as a promotional tools for grabbing attention of premium class customers. This creates positive perception of customers about the hotel and influences them to stay in Hotel Roker at the time of Sunderland Tall Ship event. 

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Marketing Mix

Marketing mix refers to set of activities which are opted b y organisations to promote its product and services at market place. It includes various elements such as product, price, promotion, place, physical evidence, people and process of organisation. Marketing manager of Hotel Roker have used all elements of marketing mix in order to increase its brand recognition among customers and generate huge amount of revenue at time of Sunderland Tall Ship Event. These elements are described as below:

Product: Hotel Roker provides various services to its customers like rooms, restaurants, spa, travel desk, bars, laundry services, room service for 24/7, banquet halls etc. All these services are offered to its customer with high quality. Visitors who are attending Sunderland Tall ship race event can accommodate in this hotel as its location is in periphery only and services of the hotel are appropriate for them.

Price: This hotel is opting premium pricing strategy which emphasize on providing services at high quality to the premium customers by charging higher rates then competitors. As main target of the Marketing team is on premium class customers who will attend Tall Ship event.

Place: Customers of Hotel Roker can easily reach to them with internet and mobile phones. In addition to this, it also connects to its customers in different manners like booking of rooms, weddings, conducting meetings, transportation pick an drop facilities. At the time of event, visitors can book their hotel room in advance and avail attracting discount through its website.

Promotion: Hotel Roker is using various types of promotional activities like personal selling, sales promotions, advertisement, print media, social sites etc. for attracting huge number customers. In context to the event, its marketing team have planned to use sales promotion for attracting maximum premium visitor who are attending event. Current sales promotion activities for Sunderland Tall Ship event includes discounts vouchers, free breakfast and free transportation facility for pick and drop.

Process: This hotel maintains hygiene level in all kind of services which are offered by Hotel Roker. These services includes food, cleanliness in premises, 24/7 sevices etc. All of them attracts visitors of Sunderland Tall Ship event towards this hotel and prsuade them to stay their during their visit.

People : Employees and customers are considered as people for Hotel Roker. Human resource department is providing special training to the employees so that skills can be improved which will help in developing satisfaction level of customers athigh level. Along with this, incentives and bonuses are offered to employees on the basis of feedback and performance.

Physical evidence: Hotel Roker is located near Roker beach in Sunderland. This is property gives rememberer beach side view to the clients which enhances their experience. Along with this, interior of the hotel are designed in according in effective manner which attracts visitors to stay longer. In addition to this, luxurious services are offered to the customers with high quality which embrace their experience level.

Various tools of marketing

Social media: This marketing tools is popular among all the organisation which helps them in connecting to its customers in effective manner. In context to Hotel Roker, marketing manager of this organisation have increased its presence over social sites like Facebook, Twitter, You tube, Instagram, etc. in order to enhance brand recognition among customers. These mediums are proven effective as maximum number of youth of UK is dealing with using social sites. It helps Hotels in promoting their products and services among customers. Along with this, marketing team can also share their latest offers with its users. As a result it enhances loyal customers for the company and also contributes in attaining targeted goals and objectives.

Customer relationship management: This helps organisation in creating clear image in front of the employees that customers are the most essential part of company. In this various kind of training sessions are conducted for the employees in order to develop their inter personal skill which helps in satisfying needs and requirement of customers in effect manner. As a result employees provides high quality service to the customers which retains them for long term. It also attracts customers to remain loyal with the hotel in future. In context to this hotel, its employees will provide all services in effective manner to visitor of Sunderland Tall Ship Event which will satisfy customer for long term. This impacts positively on sales of the hotel and also generate heavy profit for them.

Advertisement: Advertisement is a marketing tool which used by organisations in order to communicate with this customers and convey them about its products and services. It can be any form such as newspapers, magazines, hoarding, billboards, pamphlet, TV ads, radio etc. All of them helps organisation publicizing its valuable message with users so that avail best services. On the other hand, it enhances sales of the hotel too, as customers can easily compare services of Hotel Roker and can opt it during the Sunderland Tall Ship Event.

CONCLUSION

From the above mentioned report it has been concluded that effective marketing plan is helpful for every organisation as it supports in meeting their targeted goals and objectives. It has been analysed that organisation can increase its sales the time of Sunderland Tall Ship event which directly increases its revenue. Marketing plan have included PESTLE analysis, STP(Segmentation, targeting and positioning), Porter's five forces Model, Marketing mix and various tools of marketing. All of them have contributed and directed marketing team so that organization can generate good range of profit during in four days of event.

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