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Learning Objectives Chapter 9: The Marketing Plan and the 8 Ps. Define the term marketing plan. Explain the difference between tactical and strategic marketing planning. List eight requirements for an effective marketing plan. Explain the benefits of having a marketing plan.

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learning objectives chapter 9 the marketing plan and the 8 ps
Learning ObjectivesChapter 9: The Marketing Plan and the 8 Ps
  • Define the term marketing plan.
  • Explain the difference between tactical and strategic marketing planning.
  • List eight requirements for an effective marketing plan.
  • Explain the benefits of having a marketing plan.
  • Describe the contents of a marketing plan.
learning objectives chapter 9 the marketing plan and the 8 ps2
Learning ObjectivesChapter 9: The Marketing Plan and the 8 Ps
  • List four approaches to developing marketing budgets and recommend one of these approaches.
  • Describe the three major steps involved in preparing a marketing plan.
  • List the 8 Ps of hospitality and travel marketing.
difference between tactical and strategic marketing planning
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.

eight requirements for an effective marketing plan
Eight Requirements for an Effective Marketing Plan
  • Fact-based
  • Organized and coordinated
  • Programmed
  • Budgeted
  • Flexible
  • Controllable
  • Internally consistent and interrelated
  • Clear and simple
benefits of having a marketing plan
Benefits of Having a Marketing Plan
  • Activities matched with target markets.
  • Consistency of objectives and target-market priorities.
  • Common terms of reference.
  • Assistance in measuring marketing success.
  • Continuity in long-term planning.
contents of a marketing plan
A written plan of action used to guide an organization’s marketing activities for a period of a year or less.

Three parts:

Executive Summary

Marketing Plan Rationale

Implementation Plan

Contents of a Marketing Plan
slide7

A Systematic, Five-Step Approach for

Marketing Hospitality and Travel Organizations

1. Where are we now?

2. Where would we like to be?

3. How do we get there?

4. How do we make sure

we get there?

5. How do we know if

we got there?

contents of a marketing plan marketing plan rationale
Situation analysis highlights:

“Where are we now?”

Selected marketing strategy:

“Where would we like to be?”

Contents of a Marketing PlanMarketing Plan Rationale
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?”

Evaluationprocedures

“How do we know if we got there?

Contents of a Marketing PlanImplementation Plan
approaches to developing marketing budgets
Approaches to Developing Marketing Budgets
  • Historical or arbitrary budgeting
  • Rule-of-thumb budgeting
  • Competitive budgeting
  • Objective-and-task budgeting (recommended approach)
steps in preparing a marketing plan
Steps in Preparing a Marketing Plan
  • 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
steps in preparing a marketing plan12
Steps in Preparing a Marketing Plan
  • 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
  • Write the Executive Summary
the 8ps of hospitality and travel marketing
Traditional

Product

Price

Place

Promotion

Additional

Packaging

Programming

People

Partnership

The 8Ps of Hospitality and Travel Marketing
slide14

Marketing Plan Development Process

Situation Analysis & Research Results

Example of an organization

with three target markets

Marketing Strategy & Target Market Selection

Target Market

1

Target Market

3

Target Market

2

Positioning

Positioning

Positioning

Objectives

Objectives

Objectives

Marketing Mix (8Ps)

Marketing Mix (8Ps)

Marketing Mix (8Ps)

Marketing Plan