Marketing Strategies - Lavish Hotel - Case Study Example

RUNNING HEAD: Marketing Plan Marketing Plan [Name Of Student] [Name Of Institution] MARKETING PLAN EXECUTIVE SUMMARY The objective of this paper is to present a marketing plan that will sketch out the strategies, procedures, and agenda that will facilitate the sales targets for our luxury hotel – LAVISH HOTEL. Lavish Hotel, is not like a usual hotel that have sprung up in the hospitality industry these days rather it offers a exclusive environment for contact and leisure through the peaceful surroundings and first class service. Lavish Hotel is the reply to an escalating requirement of the customers. The general public wants: (1) entrance to a peaceful world in a hotel with state of the art facilities and (2) a position to meet people and contribute to the familiarity with friends and family. Located in the heart of a valley in the outskirts of Scunthorpe, it has 150 rooms and contains a food and beverage operation too and operates on the basic vision of providing customer satisfaction yet cut down costs to increase the customer base. Since Lavish hotel is in early phase of establishment, it needs to first bring about a good result in terms of customer satisfaction in order to advance in future. Marketing has a fundamental position in the triumph of Lavish Hotel. It must put up a brand name in the region of the services it presents by greatly encouraging itself throughout the local media advertising. Marketing pains are just starting by the moment a probable client enters Lavish Hotel for the initial time. A well-built stress will be put on maintaining clients and structuring brand reliability through plans focused on recruitment, knowledge, and customer pleasure. TARGET MARKET People coming on vacation to this scenic area, Business group from the business hub and from the local professional structures Elder citizens from close by retirement amenities SITUATION ANALYSIS Lavish hotel just untied its doors for big business less than a week ago. Dealing is fine, and clients have been overwhelmed with our contributions, but we want to center our labors on employing the policies, programs, and devices sketched out in the new business map so as to maximize sales while building a good brand name. Making a distinction from further more established hotels has set us the aptitude to efficiently struggle on the food and beverage part of the business with the previously well-established opposition. Transactions are rapid and in-line with protrusions. Families love to get together for late-night dinners, in close proximity, the seniors are getting a glance of what the other facilities are that we offer, such as horse riding tracks, early morning breakfasts, brunches, and local business natives love to halt by for a fast lunch and meeting. Above all people who come on vacations, find it a place that offers equal facilities but at better rates. MARKET DEMOGRAPHICS Lavish hotel's customers can be separated into two distinct groups. The first set is that which comes in to stay for a night or two, or those who are on vacations and wish for a progressive and attractive ambiance where they release their worries and have a wonderful time. The second set comprises families coming in for dinners, arranging small parties in our banquet hall, or seniors that are attracted to the hot bath saunas, horse riding tracks, state of the art gyms or just the theatre room for a late brunch with friends. MARKET TRENDS Lavish hotel will offer: 1. A gathering venue for business community 2. A societal hub for people attracted in sharing a dinner with friends or family 3. A place for seniors to have a good use of their time by the facilities provided here 4. An impeding position for travelers in want of a good lodging SWOT ANALYSIS The SWOT investigation offers us with a chance to inspect the inner strengths and weak points that Lavish hotel must deal with. It also permits us to observe the prospects presented as well as the probable threats. STRENGTHS 1. Well-informed and pleasant staff. We've spent lots of efforts to discover natives with an enthusiasm for training our staff to be the best in the hospitality industry. 2. State-of-the art gear. Fraction of the Lavish hotel familiarity embraces access to state-of-the-art facilities for people of all ages; Internet games for children, reading rooms for the elderly etc. Our customers take pleasure in gorgeous displays set all around and the efficient use of technology in every aspect. 3. Up-scale atmosphere. When you amble into Lavish hotel you'll feel the calmness in the settings. High mahogany booths with beautiful paintings inset into the walkways provide a comfortable camouflage for meetings and little sociable gatherings. Big surrounding tables with flaunts viewable from above give a medium for superior gathering and welcoming tone to the visitors. Aluminum path illumination and art from neighboring artists places the mood. 4. Apparent idea of the market need. Lavish hotel knows what it acquires to assemble a chic hotel. We recognize the customers, we recognize their needs, and we identify how to construct the service that will fetch the two jointly. WEAKNESSES 1. Cost aspect connected with maintenance of state-of-the-art and other facilities. Caring of the facilities such as horse track rides becomes very expensive, similarly operations with the equipment of the Internet is a luxurious task. Lavish hotel needs to maintain equilibrium between its facilities, technology needs with the additional requirements of the trade. OPPORTUNITIES 1. Public bonds encouraged by the new facilities. The facilities that we offer (specially the low cost factor) is carrying people from corner to corner together to our place. Lavish hotel will take advantage of this community drift by providing a venue for minor and limited communities to assemble. The hotel will breed a number of these groups of people on its own by creating chat areas and area programs. THREATS 1. Emerging local competitors. At present, Lavish hotel is benefiting from a first-mover gain in the local hotel market as it has unmatched facilities. Nevertheless, further competitors are on the prospect, and we want to be ready for their entrance into the marketplace. A lot of our plans will be planned to construct client trustworthiness, and it is our wish that our excellence service and up-scale atmosphere won't be simply replicated. COMPETITION AND MACRO ENVIRONMENT The twin service character of Lavish hotel's industry faces rivalry on two stages. Lavish hotel battles not merely with other hotels in the area, but also with restaurants serving good food and beverages. It faces straight competition from three other hotels in the confined market. There is a sum of three hotels in the region. Serious competition among hotels creates a business where all competitors have to face the equal costs. There is an optimistic association between cost and excellence of service. Some hotels retail at $150/pound, while further more striking may charge for as elevated as $500/pound. The hospitality industry in this region experienced fast growth at the start of the decade and is at the present touching into the full-grown stage of its life sequence. Many features donate to the large stipulation for good service. Lavish hotel seeks to offer its clients with reasonably priced lodging access in an inventive and compassionate surroundings. TARGET MARKETING Lavish hotel intends to accommodate mutually to natives who wish for a novel experience as a vacation in their own area, or seniors enthusiastic to treat their boring lives with some fun and activity filled time. Moreover, it will act as a main attraction for neighboring and traveling professional or corporate businessmen who want to unwind in a pleasant environment. MARKETING STRATEGY Lavish Hotel has three major approaches to marketing. The first approach focuses on drawing tourists and travelers. By providing a forthcoming atmosphere, Lavish Hotel hopes to entertain and prepare a faithful customer bottom. The second and mainly vital plan focuses on drawing in power corporate people for their meetings, seminars or gatherings. These are people who travel a lot and get to use such hotel services all across the country. If we are able to satisfy then the best marketing will be through the word-of-mouth of these corporate clients. The third plan focuses on constructing a social setting for Lavish Hotel clients. A social atmosphere that presents entertainment will supply to draw customers that would not usually consider dining out as a family fun idea. Once on site at Lavish Hotel, this clientele that approached for the supplementary typical activity offerings, will comprehend the probable amusement value the hotel can grant. MARKETING OBJECTIVES 1. Raise entire sales by 10% yearly. 2. Expand the service contribution to protect the business next to fluctuations in either of element of the profits flow. 3. Erect customer faithfulness through quality service and novel community programs. 4. Uphold a workforce of passionate employees eager to allocate their friendliness and hospitality with Lavish hotel’s customers. 5. Make the Lavish hotel brand name to the peak where it turns into a household statement in the vicinity. STRATEGY PYRAMID The subsequent are the three main approaches Lavish Hotel will center on. Lavish Hotel's initial policy focuses on drawing in the tourists and all those who drop by for a vacation in the area. Lavish Hotel devices on magnetizing these customers by: Providing an extremely friendly atmosphere. Pleasant employees alert on helping the customer’s needs will staff lavish Hotel. A client Service desk will be teamed. If a client has any sort of problem or apprehension, a Lavish Hotel worker will always be accessible to support. Lavish Hotel will propose preparatory classes on horse riding and swimming. These classes will be intended to assist beginner users disseminate themselves with these main facilities at the Lavish Hotel. Lavish Hotel's following strategy will be alert on drawing in power corporate clients who will give a significant purpose at Lavish Hotel. Lavish Hotel devices on pulling this category of clientele by: Providing the up-to-the-minute updates through its media room, having online access, newspaper and magazines from all around the world. Providing first-class seminar and conference/ meeting services. Giving access to influential business- related software applications in its computer zone. Offering a relaxing environment to stay with official suites having a Jacuzzi each. The third tactic spotlights on fabricating a social atmosphere for Lavish Hotel’s senior clientele. A community environment that presents activity will provide to magnetize customers that wouldn't usually believe in going out at their ages to indulge in an activity or treat. PRICING Shaping a fair sell policy, overnight-stay price for utilization is trickier for the reason that there is a lot of direct opposition from the three hotels in the area. As a result, lavish hotel measured the three sources to settle on the over-night room charge rate. First, we measured the rate to utilize a room including the light, water, cleaning, cable, and Internet access under diverse pricing proposals. In adding together we analyzed how the other hotels in the area price their rates and the services they offer in their set rates. Lastly we deployed a market study to find out the demand and what customers want more: a low price or more features in the set current prices. Estimating these three dynamics resulted in the over-night price to be the same as the other competitors but the range of facilities and services we offer has increased multiple times as compared to our other competitors. REFERENCES Read More