steps for marketing plan
TRANSCRIPT
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Chapter 2
Developing a Marketing Plan
Convention Management and Service
Seventh Edition
(478CSB)
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Competencies for
Developing a Marketing Plan
1. Distinguish sales from marketing and describe the
"four Ps" of marketing.
2. Explain the importance of a marketing plan, list thefour steps of a marketing plan, and describe how
marketers conduct market research.
3. Describe how marketers select target markets,position their properties, establish objectives and
action plans, review and monitor their marketing
plans, and put their marketing plans into action.
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The Four Ps of the Marketing Mix
Product
Place
Promotion
Price
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Four Steps of a Marketing Plan
Conducting market research
Selecting target markets and positioning your
property
Establishing objectives and action plans
Reviewing and monitoring the marketing plan
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The Three Types of Market Research
Property analysis
Competition analysis
Marketplace analysis
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Property Analysis
Appraisal of what the property has to offer
Should be objective (use input from various sources)
Include both exterior and interior
Include location, reputation, and quality of service
Conduct analysis from the viewpoint of the meeting
planner
Assess the propertys current market position; look
into its sales history, guest files, and operating
statistics
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Competition Analysis
Answers three questions:
Who are your competitors?
What are their strengths and weaknesses?
How do their strengths and weaknesses compare
with those of your property?
Other tips
Should be conducted quarterly
Can identify profitable markets your property
does not currently serve
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Marketplace Analysis
Research on the market environment and the
propertys position in that environment
Also known as situation analysis Identifies factors in the marketplace that can
affect the operation
Could include population growth, economy, andattractions
Identifies both opportunities and problems
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Sections of an Action Plan
Description of market segments/types of business
to be solicited
Description of target customers
Rates and special promotions
Specific objectives
Action steps
Budget