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In today's competitive world, marketing is the core element which assists in increasing the sales and in attaining the competitive advantage. However, it is essential for marketing department to plan effectual marketing strategy with an aim to achieve maximum profit and to sustain the business for a long run. It also provides direction which helps the firm to create their own plan with an aim of attaining varied types of objectives such as increasing customer satisfaction and enhancing the business profitability (Cravens and Piercy, 2008). In the present report, there are various case activities which have been discussed. Thus, all these scenarios focus upon the main objective which is of building strategic marketing plan for the prospective customers. Further, the report also assesses the ways through which strategic marketing decisions are undertaken by the firm. In the current report, the consultancy firm, 'Total Marketing Solutions' (TMS) provides support and advice to its prospective new clients of hospitality industry such as Hilton and Marriott that are focusing to develop their strategic marketing plan.
As per the American Marketing Association (AMA), strategic marketing helps the firm to gain competitive advantage within market and to enhance the sales and profitability. Therefore, TMS is required to provide relevant information about strategic marketing to its potential clients such as Hilton and Marriott. Following is the importance of strategic marketing within firm-
It can be evaluated that there is a strong relationship that exists among corporate and marketing strategy of organization. However, it can be analyzed that Hilton hotel possess the mission of delivering quality care and support to the customers which ultimately results in high sales and profitability. With regard to perform the same, management of hotel is required to provide proper information and knowledge about the type of unique products and services which they are offering as compared to other rivals. Through this, it helps in attracting large number of customers and in raising the sales (Cooper, 2000). However, in order to attain the stated goal, consultancy firm provides information to hotel in regard to adopt effective marketing promotion tools such as social media websites, newspapers etc. The specified tools and techniques would help the firm to accomplish its mission of attracting potential clients and thereby, increasing its sales and profitability.
Similarly, Marriott hotel has an aim to improve the satisfaction of its customers through introducing attractive products and services at the marketplace. Thus, in order to attain such type of objective, it is essential for the hotel to have strong connection with their marketing department. Further, by carrying out proper market research, it assists the organization to determine specific areas which requires to be extended (Wilson and Gilligan, 2012). However, it can be analyzed that the marketing and corporate strategy are interconnected and interlinked with each other.
There are varied numbers of ways which can be adopted by the prospective clients of TMS with the purpose to develop an effectual marketing strategy. Following are the steps that need to be undertaken are as follows-
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There are numerous decision and choices that are to be made at the corporate level. One of the crucial decisions that are required to be made is of setting the mission and vision of company. For example, hospitality firm like Hilton and Marriott can set their direction by formulating effective mission and vision. Also, at this level, management of hotel is required to make decision with regard to select an appropriate strategy. Thus, in order to make such type of decision, enterprise is required to take assistance from Ansoff matrix (Morgan, 2012). However, such type of tool is effective as it helps in presenting strategic choices and decisions made by firms at corporate level. By the selection of Ansoff matrix, it assists the business to enhance its sales and profits.
Ansoff matrix adopts different types of tactical decisions and choices such as product development, market development, diversification and market penetration. However, the effectual decisions considering all these factors are made at the corporate level. Also, the top management undertakes decision of attracting the clients and offering them innovative products and services. Furthermore, in order to make such decision, corporate level individuals can adopt porter’s generic model. Thus, such type of model involves cost leadership and differentiation strategy (Nasir and et.al., 2013). The top management who resides at corporate level is required to select differentiation strategy after assessing the market conditions of firm.
There are varied departments such as finance, HR, marketing and sales etc. at business and function level that performs the specific type of job. However, the decisions taken by individuals at the corporate level give necessary impact upon the functions executed by the stated departments. The corporate level team of Hilton hotel has adopted diversification strategy in which it has decided to expand its operations in the retail sector. Thus, with regard to achieve such mission, hotel has to involve and take assistance from varied functional and business level departments (Panda and Mishra, 2012). Also, business is required to recruit skilled and talented employees for the implementation of diversification action plan. Further, the human resource department of firm is required to meet the needs of employees so that they can be motivated to work hard and to attain the set goals. However, hotel is expanding its operations in the retail sector, therefore, it is essential to provide information to potential customers about the same. Thus, such objective can be attained by the marketing department of Hilton hotel.
It is essential for the management of firm to analyze the approaches which can be adopted by the manager of Hilton and Marriott hotel in order to build competitive position in the marketplace. However, setting clear goals and objectives can be one of the approaches that are adopted by hotel. Thus, the success of organization largely depends upon the objectives which are being set by them. In order to improve the sales and profits, business is required to develop efforts in terms of attaining the stated goals (Payne and Frow, 2014). Additionally, with an aim to build competitive positioning businesses like Hilton and Marriott, it can introduce them as a leader of the hospitality market and thus, will offer unique products and services to its clients.
Moreover, in order to become the market leader, manager of hotel is required to minimize its prices which help them to attract the potential guests. Thus, with the assistance of such technique, it helps both the firms to gain competitive advantage among rivals. Furthermore, hotel can also gain competitive advantage through undertaking niche marketing strategy. With the help of such action plan, it helps the firm to focus upon the small market segment and to assess their needs. For instance, Hilton and Marriott are the supreme hotels that targets high class clients who are able to pay high prices for the offered services (Proctor, 2014). Thus, delivering the services to premium class guests is regarded as the competitive edge for both the organizations.
It is essential for Hilton and Marriott hotel to carry out the internal environmental analysis at the time of making any decision. However, by adopting value chain and resource based approaches, it can be effectively performed by the hotel. The value chain approach is useful as it assists in defining the firm's core competencies and activities. Further, it divides the whole activity of business into two parts i.e. primary and supportive. Such type of analysis is effectual as it describes regarding the specific process that can be adopted by the businesses like Hilton and Marriott with an aim to add value to the services (Nijssen and Frambach, 2013). However, it can be analyzed that value chain approach can be ineffective when certain alterations occur in the external environment. Thus, organization needs to change its process with the motive to add value to the existing products and services and to attract the customers. However, another approach which can be adopted is resource based approach that helps the hotel to determine its resources and capabilities. However, assessing both the information plays a critical role in the process when business formulates their marketing strategy. For instance, through carrying out the resource based analysis, manager of Hilton hotel can determine that whether it has significant amount of resources in the form of HR and finance with regard to meet the marketing objectives or not (Doherty and Lu, 2012). Thus, on the basis of stated information, varied decisions will be undertaken by the firm.
There are two basic types of approaches to the external environmental analysis such as PESTEL and Competitor analysis. PESTEL is an effective tool as with the assistance of this, hotel can collect information related to varied factors that might create hurdles in the process of developing and implementing marketing plans. Further, by adopting such approaches, it helps Hilton and Marriott to collect information about the market forces. However, undertaking PESTEL analysis helps in providing the information about different factors such as political, economic etc. which may influence the operations of firm. At the same time, such tool does not provide information about the strategy that is required to be adopted by firm with the purpose to deal with the stated factors. On the other hand, carrying out competitor analysis approach helps in analyzing the external environment of firm (Quinton and Fennemore, 2013). Thus, with the help of such tool, both the hotels can collect detailed information about the available competitors of firm in market. Also, businesses can enhance their understanding related to the type of strategy which is being adopted by the competitors.
Likewise, if firm carries out separate analysis of both internal and external environment, it is impossible for them to make decision with regard to adopt one particular component only. Therefore, it is essential for business to integrate between the internal and external analysis. However, through adopting tool of SWOT analysis, an effectual integration can be established by the hotels between both; the internal and external environment. For example, the factors related to strengths and weaknesses provide information about the internal environment of hotel (Ogden and Ogden, 2014). However, components such as opportunities and threats help to assess the external environment of company. However, by using such tool, manager of Hilton and Marriott hotel can take certain strategic decision about the operations of firm in the market. Thus, it helps business to attain required enhancement in their sales and profitability.
It involves a range of strategies which can be adopted by the manager of Marriott hotel in order to gain competitive advantage in market. Following are the strategies that can be adopted -
It can be evaluated that different marketing communication strategies can be adopted by the manager of Marriott hotel with the purpose to spread information about its services among prospective buyers. Following are the strategies which can be adopted by the firm -
Following is the process which involves marketing strategies that needs to be implemented within firm are as follows-
From the accomplished report, it can be evaluated that it is essential for the marketing department of firm to carry out the market research and to focus on right product and service in order to sustain the business. Also, Marriott is required to promote its innovative products and services through social media sites and to gain competitive advantage in the market. Furthermore, businesses are required to collect proper information and knowledge regarding the rivalry products and services so that effectual marketing strategy can be adopted. Moreover, it has also been evaluated that the corporate and marketing strategy of firm are inter-related and interconnected with each other.
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