Marketing Plan- Victoria House Hotel - Essay Example

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Marketing plan – Victoria House Hotel Name Marketing Plan - Victoria House Hotel Situation Analysis The privately owned company, Victoria House Hotel operates in a thriving industry whose size has been continuously expanding over the past decade and it is expected that it will keep on increasing in future as well…
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Marketing Plan- Victoria House Hotel
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Download file to see previous pages Moreover, since the area is an attractive tourist spot, it has become a center of attention for many high end tourists and corporate clients who frequently travel to this area, giving the whole industry an advantage of increased customer traffic owing to the efficiently operating tourist industry as well as airline industry giving benefits of travel and tourism to customers. An overall change in the travel and dining out habits of consumers and potential clients has given the industry an extra advantage in terms of people dining out more frequently than ever before. Despite the benefits this industry enjoys, it is unfortunately also facing increased legislation and restrictions from administration and government which are creating new barriers such as licensing laws and ban on smoking in public areas. Taking a look at the firm itself and the internal factors affecting the health of it, we see that the Hotel is in an overall advantageous state in terms of profits and growth. It has been consistently expanding successfully, improving areas such as accommodation and entertainment. It is located at a strategically profitable location where tourists find it convenient to travel the nearest tourist spots and come back to the Victoria House Hotel later. The Hotel has been experiencing raising profits and has a dedicated team well trained in customer care in order to make the clients feel at home. One drawback that the Hotel has been facing is a reduction in corporate clients which needs to be addressed and solved as soon as possible (Thomas, 1998; Eldring, 2009). Target Audience Victoria House Hotel has seen a trend of declining corporate audience and tourists over the past year which is a sign of losing future profits because this portion of the industry is a thriving opportunity to be captured. The industry has faced a 20% rise in corporate events and hence a rise in corporate customers traffic. This means that in future, it is expected that corporate customers’ traffic along with tourists will increase, due to tourism and airline industries attempts to attract tourists and those clients who travel for business and trade reasons. The aim of Victoria House Hotel should hence be to attract this specific niche which has a lot of scope and new opportunities to be availed for future profitability. Provision of exclusive packages and luxury accommodation and travel to specific clients will help the company make higher profits as well as the advantage of having no direct competition when considering this specific niche in the industry (Luther, 2011; Westwood, 2012). Marketing Objectives For the company to ensure effective operations and improvement, it needs to define its objectives clearly that are to be different from other competitors. If the company keeps operating in this cut throat competition targeting the mass market, it will soon have to give up its profits and reduce operating margins or hope that competitors don’t come up with better strategies. 1) Target a specific audience and provide them benefits accordingly. It is not possible to satisfy everyone, hence only a certain segment of the target market will be chosen in this case, the corporate ...Download file to see next pagesRead More
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