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Marketing Plan & 8P

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Difference between Tactical and

Strategic Marketing Planning

Tactical = short-term marketing

planning for two years or less.

Strategic = long-term marketing

planning for up to three to five years

in the future.

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Eight Requirements for an

Effective Marketing Plan

1. Fact-based

2. Organized and coordinated

3. Programmed

4. Budgeted

5. Flexible

6. Controllable

7. Internally consistent and interrelated8. Clear and simple

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Benefits of Having a

Marketing Plan

1. Activities matched with target markets.

2. Consistency of objectives and target-market priorities.

3. Common terms of reference.

4. Assistance in measuring marketing

success.5. Continuity in long-term planning.

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Contents of a Marketing Plan

A written plan of action used to guide an

organizations marketing activities for a

period of a year or less.

Three parts:

1. Executive Summary

2. Marketing Plan Rationale3. Implementation Plan

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1. Where are we now?2. Where would we like to be?

3. How do we get there?

4. How do we make surewe get there?

5. How do we know if

we got there?

A Systematic, Five-Step Approach for

Marketing Hospitality and Travel

Organizations

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Contents of a Marketing Plan

Marketing Plan Rationale

Situation analysis highlights:

Where are we now?

Selected marketing strategy:Where would we like to be?

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Contents of a Marketing Plan

Implementation Plan

Activities plan

Marketing budget

How do we get there?

Control procedures

How do we make sure we get

there?

Evaluation procedures

How do we know if we got there?

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Approaches to Developing

Marketing Budgets

1. Historical or arbitrary budgeting

2. Rule-of-thumb budgeting

3. Competitive budgeting

4. Objective-and-task budgeting

(recommended approach)

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Steps in Preparing a Marketing Plan

1. Prepare the Marketing Plan Rationale

Review and summarize: Situation analysis

Marketing research studies Market segmentation

Segmentation approach and bases

Target-market selection

Marketing strategy

Positioning approaches Marketing mixes

Marketing objectives

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Steps in Preparing a Marketing Plan

2. Develop a Detailed Implementation Plan

Design and specify: Activities by marketing-mix element for target

markets Responsibilities (internal and external)

Timetable and activity schedule

Budget and contingency fund

Expected results

Measurements Progress reporting procedures

Performance standards

Evaluation timetable

3. Write the Executive Summary

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The 8Ps of

Hospitality and Travel Marketing

Traditional

Product Price

Place

Promotion

Additional

Packaging

Programming People

Partnership

M k ti Pl D l t P

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Marketing

Mix (8Ps)

Objectives

Positioning

Marketing Strategy &

Target Market Selection

Situation Analysis & Research Results

Target Market

1Target Market

2

Target Market

3

Positioning

Objectives

Marketing

Mix (8Ps)

Positioning

Objectives

Marketing

Mix (8Ps)

Marketing Plan

Example of an organizationwith three target markets

Marketing Plan Development Process