Writers Den

Assessment criteria
for Marketing Plan

	value
Part 1. Executive Summary
Not an abstract or synopsis; Includes main findings and recommendations
Part 2. STRATEGIC ANALYSIS
Introduction to company; Case history etc
SITUATION ANALYSIS – EXTERNAL – (detail in appendix) Environment; PEST etc – trends and implications for your business The Market, incl Customers; Competition, incl Porters 5F Key Success Factors correctly identified
SITUATION ANALYSIS – INTERNAL –(detail in appendix) Brief review current strategy and marketing mix Performance analysis (eg ratios) Resources analysis (use of models or frameworks) Determinants of strategic options
SWOT Analysis :Summary of critical findings from Situation Analyses
Part 3. STRATEGY DEVELOPMENT
Identify Sustainable Competitive Advantage Assets, competencies and synergies; should be unique.
Identify 2 or 3 possible alternative Strategic Thrusts(generic strategy)
Evaluate and Select most appropriate Strategic Thrust (if different to current, say why) (if same as current, say why) Does this fit with Resources, Opportunities and SCA’s?
Marketing Goals(list 3 to 4 Strategic level marketing goals) (eg sales; market share; contribution margin; customer satisfaction, etc.) Alternatives are 1. target adulteries (aged people) with luxury hotel facilities 2. target conference business 3. open roof top restaurant with beautiful beach view 4. Build overhead walk Way Bridge from pool level to beach. (800 words with3-4 references) proper in text APA referencing style
Product-Market investment strategies Ansoff Growth Matrix alternatives – selection and describe
Strategic Marketing Mix – (medium term – 3-5 yrs Target markets –selected (why) described Positioning Strategy 4 P’s – Product-Price-Place –Promotion (strategic statement only)
Sales Forecast & Financial projections
Part 4. PRESENTATION
Presentation of material – appropriate Business Report format Cover sheet, exec summary, index, sections with clean clear headings with hierarchical structure, pleasing set-out with white space, some bold type, professional font type and size, good use of bullet points, inclusion in body of relevant models, diagrams, charts, tables juxtaposed to descriptions; correct citations and end reference list; detailed reference material attached as appendices; copy of case (if applicable) attached as appendix; copy of presentation slides (if applicable) attached as appendix; does this look like a Marketing Report or a History Essay? (beware – not too many bells and whistles!) Written Expression – university standard spelling and grammar; professional style and choice of words
Evidence of further relevant, research, data gathering beyond class text At least 6 sources are cited in the body of the report Correct acknowledgment of source material (if used) – Harvard/APA style in both body of work and in end reference list
Penalties Deductions:- Length: +/- 10% word limit (exclusive of any attachments). –Submitted by Date due: (or as arranged personally with me beforehand). deductions
Total

Introduction

The Mantra Ettalong
Beach is a 4 Star Hotel
overlooking the beach in Ettalong, situated in the Central Coast of NSW. There
are approximately 230 rooms, with 170 being managed by Mantra, 20 who are
permanent residents and 40 who directly manage and rent. The Pilotimos Group
own 20 rooms that are being managed by the Mantra Group. The Mantra Group is
essentially the building managers who operate the hotel and also do basic
maintenance of the hotel. There is a 10 year contract that is in place today
with Mantra with 8 years left to run. Relevant owners of the hotel rooms take
advantage of the Mantra brand association where they have hotels across Australia and New Zealand.

The different room
types available are 1-2 bedroom suites and Penthouse suites. It has a
gymnasium, spa and a popular swimming pool. The hotel has no room service but
has conveniently located restaurants in the surrounding areas of Ettalong and a
Memorial Club that is under the Hotel for other food options. There is no
alcohol available in the hotel and the general demographics of the hotel
patrons are young families & couples and older couples.

The overall
objective of this report will be to develop a situation analysis that outlines
the Mantra Ettalong Beach current and future strategic issues and then present
a detailed Strategic Marketing Plan for the Hotel to help achieve a higher and
flatter occupancy rate over the year (focusing on week days during non school
holidays) that will help the Hotel in increasing revenue, bring about certainty
to its planning of resources and infrastructure, reduce costs and thus provide
greater profits to the different owners of rooms in the Hotel.

Strategic Marketing
Mix

After a firm has
identified the various market segments it might pursue, it evaluates each
segments attractiveness and decides which to pursue using a process known as
target marketing (Grewal & Levy, 2013, p35-36).

A firm assesses
both the attractiveness of the target market (opportunities and threats based
on the SWOT analysis and the profitability of the segment) and its own
competencies (strengths and weaknesses based on SWOT analysis) very carefully
(Grewal & Levy, 2013, p169).

Whilst the Mantra
Ettalong has strong weekend and school holiday bookings contributing to an
average occupancy rate of 52% across the year, it is the week day (non school
holiday) periods that need to be improved to ensure greater profits to the hotel owners and Mantra group.

Whilst not
deviating from the existing clientele that bring about large numbers on
weekends and school holidays, the objective in increasing occupancy rate on
week days (non school holiday period), is to target the elderly market. The
reasons for this (after reviewing the Hotel’s SWOT analysis) are:

– Ettalong area is
a peaceful and serene place which will suit the elderly – – Ettalong Beach has an average median age of 49 years old, with the majority of people
being over 60 years old (Source: http://myboot.com.au/2257/Ettalong%20Beach/demographics.aspx).

– Compared to
Terrigal where it is much busier and a younger demographic profile which may
not suit the elderly so much like in Ettalong.

– Also, through
years of inaction of local businesses and the Council to develop Ettalong into
a thriving tourist hotspot, trying to attract a younger crowd or families
during the week will be very difficult.

The Elderly market
can include domestic and international tourists that are much more inclined and
free during the week days to stay at the Hotel. Also with a strong and famous
Mantra brand, it will appeal to older people wanting to book accommodation.

Conferencing
traffic was also looked at as the target market as it is more profitable but
the advantages that Ettalong can bring to the elderly (peaceful and quieter
environment) means a disadvantage to attracting conferencing clientele who
require things to do.

Targeting is a key
component of any marketer’s tool kit but the recipe for smart targeting has
become more complex. The five steps to smarter targeting include: make your
target market definitions evidence based; include as many people in your target
market; avoid the heavy buyer trap; buy media on audience numbers; and don’t
sacrifice reach for engagement. (Romaniuk, 2012, p 289-290).

Positioning
Strategy

Market positioning
involves a process of defining the marketing mix variables so that target
customers have a clear, distinctive, desirable understanding of what the
product/service does or represents in comparison with competing
products/services. The positioning strategy can help communicate the firm’s
value proposition which communicates the benefits customers would receive from
a product or service and provides them reasons for wanting to purchase it
(Grewal & Levy, 2013, p173). To do this, firms must be able to satisfy its
clientele and communicate its important features.

The positioning
strategy for the Mantra Ettalong to increase occupancy rate during week days by
targeting the elderly market is to ensure that the hotel especially caters for
the older generation through:

–
Special
pension or 65 and over room rate prices

–
Marketing
the surrounding area with key features like the Ettalong Markets, War Memorial
Club that is attended primarily by the elderly, peaceful and calm nature of the
place, etc.

–
Positioning
the hotel during the week as a ‘Baby Boomer’ clientele only gives a clear
differentiation point to other hotels in surrounding areas and entices this
market. Similar to ship cruises that position certain trips to families,
younger generation and elderly, the Mantra Ettalong can do this by breaking up
into:

Week days (non school holidays) – Elderly

Weekends – Couples

Weekends and school holidays – Families and couples

Supporting this
positioning and capturing the elderly target market, the proportion of Australia’s
population aged over 65 years has grown from 8% in 1970-71 to 25% over the next
40 years (http://demographics.treasury.gov.au/content/_download/australias_demographic_challenges/html/adc-04.asp).

As companies trim
their travel budgets, the hospitality industry had to shift its traditional
marketing strategies. In room amenities have been a great way for hotels to
keep the hotel brand in the customers mind. They include pens, ice buckets,
soap, shampoo, slippers, etc. Even if they are little take home things, they
are cheap tools that they can use to keep their name in front of the customer
(Successful Promotions, 2010, p17).

Product-Price-Promotion-Placeà Targeting Elderly Market

Product

Providing the
right mix of services that satisfies the needs of the target market is one of an
organisation’s most fundamental activities (Grewal & Levy, 2013, p324).

The Mantra
Ettalong provides the right environment and hotel amenities that suit the ‘baby
boomer’ market. No need to change or invest into anything significantly as the
current product perfectly suits the elderly during quieter week day times.

Price

Price helps define the value of both the service, and
the price range of a the organisation helps define its image (Grewal &
Levy, 2013, p325).

The Mantra Ettalong needs to offer discount prices to
the elderly market whilst still maintaining a profit that will differentiate
them from other Competitors around the Region.

Promotion

Organisations know
that good promotion, both within their environment and in the media, can mean
the difference between flat sales and a growing consumer base (Grewal &
Levy, 2013, p326).

The Mantra
Ettalong will need to target the elderly market by advertising on Mantra
booking sites, getting into partnerships with key international travel
agencies, targeting retirement villages and shopping centres with key
information, etc.

Place

The Mantra
Ettalong is conveniently located for Sydney and
regional based clientele as getting there is one of the first exits off the Central Coast Highway
and avoids the traffic jams going deeper into the Central Coast.

Also, by
concentrating on mid week occupancy, the availability of rooms is higher and
thus provides the product to the right consumer when they want it.