During the 6th semester of Hotel Administration Department, students who are currently study the Advance Marketing Subject are assign to create their very own marketing plan by examinating a 3 star above hotel in Bali.
Students used to ask, why such project is assign to us; what does it do? Well I usually answer: A Marketing plan is a tool to IMPROVE THE HOTEL’S COMPETITIVE EDGE! The subject is aimed to assist and prepare you to become a Marketing Manager someday in the future.
Here’s a brief about composing the Marketing Plan:
In general, a Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head on, with strategies and plans to increase market share and attract customers. An effective Marketing Plan is backed by carefully collected market, consumer and competitor information, sometimes citing professional advice.
Why Prepare a Marketing Plan?
A good Marketing Plan will help you to improve your odds against more experienced competitors and newly emerging ones. The Plan enables you to recognize and take action on any trends and consumer preferences that other companies have overlooked, and to develop and expand your own select group of loyal customers now and into the future.
The Plan also shows to others that you have carefully considered how to produce a product that is innovative, unique and marketable- improving your chances of stable sales and profits – reasons for investors to financially back you.
Basically the plan will consist of:
- Title Page
- Table of Contents
- Historical Background
- Marketing Goals and Objectives (Sales Objectives, Profit Objectives, Pricing Objectives and
- Market Analysis
- Environmental Analysis – Global Business Environment & Local Business Environment
- Consumer Analysis
- Strengths, Weaknesses, Opportunities and Threats Analysis
- Marketing Focus
- Financial Information
- Tables, Graphs, Diagrams and Pictures
How to compose? What aspects need to be defined?
Well.. See you in the marketing class! 😀