• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Travelcorps Business Plan

Extracts from this document...

Introduction

TRAVELCORPS UK Hotel Services Contents Front Page 1 Contents 2 Mission Statement 3 SMART objectives 3 SWOT analysis 4 Marketing Audit 5 Ansoff's Matrix 6 Diversification 7 Control and Measurement Systems 8 Bibliography 9 1. Mission Statement: A strategic marketing plan begins with a mission statement (purpose statement). This is largely philosophical and is the way the company wishes to do business. Mission statement for Travelcorps, " We are a hotel service sector to offer value and facilities to out customers for their stay. Our mission is to create superior value for our stockholders, customers and employees." SMART Objectives: o Increase occupancy of, Business people in 5% Business people from companies in 50% General Public in 70% Weekday Occupancy in 5% Weekend Occupancy in 60% o Increase Market share by 40% o To innovate and bring up new ideas for future development of the company o Diverse into new market segments, i.e. general public o Develop new facilities and products, i.e. leisure facilities o Extent to new national market regions by spring 2001. o Increase Promotion by 400 %. 2. SWOT Analysis: A SWOT is a summary of the audit under the heading, internal strength and weakness as they relate to the external opportunities and threats from the Marketing audit. A SWOT Analysis shows where a business should focus its attention. One of the main uses of the SWOT analysis is to match the strengths with opportunities and to match the strategies. ...read more.

Middle

The marketing Audit has two parts, the internal and the external audit. The internal audit examines the areas that are under the control of the business. The external audit examines the macro environment and task environment of the company over which management has no control. The marketing audit is a key determinant for the future direction of the company. The audit helps to define the problem of a company properly and solve them. The objective of the audit is to indicate what the companies' objectives and strategies are, and the format of the SWOT analysis will organise to major findings of the marketing audit. It analyses the critical strengths, weaknesses, opportunities and threats from the internal and external audit (marketing audit). 3. Ansof'fs Matrix Market Present New Present Market Market Penetration Development Product New Product Diversification Development Market Penetration o Reduce prices o Increase in promotion Market development o Other segments o Other local and national regions Product Development o Leisure facilities o New d�cor Diversification o Other segments o Other local and national regions o New complexes o New decor o Leisure facilities o Price variation o Increase in promotion 4. Diversification: The strategy Travelcorps should implement 'diversification', moving into a different market by offering new products but at the same time keeping the same share of present market. Offering new facilities such as health centre, pub, games room, which will help the organisation to attract their new market, which is the general public. ...read more.

Conclusion

Inside decor is designed in a way, which will add to the relaxation required by the businessmen. 5. Control and Measurement systems It is essential that controls be established along with measures to assess the on-going implementation of strategy. There are objectives or budgets for each month or quarter. This practice allows higher management to review the results of each period and to spot why the objectives are not met. The managers of the Travelcorps will have to explain the problems and the corrective actions will be taken accordingly. Some of the main areas Travelcorps will have to control and measure are, occupancy rate, sales force performance, turnover, expenses, and costs. To control and evaluate sales force activities properly the sales management will need information, because it will not be able to observe the sales force daily, it will rely on call reports, customer feedback and invoices. Travelcorps can use control charts and histograms in a monthly basis and check their occupancy rate of general public and business people and control the costs and expenses made by the company. If the target rate of occupancy is not met by the end of a year, actions will have to be taken, starting by finding out where the problem(s) have occurred, in the strategy, the marketing mix, or any other factor that may have caused the undesired outcome. Once the root of the problem is found, then the process of choosing which strategy to implement for the future of the company will have to be done over again. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Peer reviewed

    Produce a Marketing Plan for a small Retail Business.

    5 star(s)

    second hand clubs, which suggests I should devote a section of my shop to second hand clubs. This could work to my favour because it means buying cheap clubs with more of a chance of selling them.

  2. Free essay

    Marketing Simulation Game

    As a result, playing the game facilitates a better understanding of theory. It Encourages Group-Learning and Teamwork: Vygotsky (1978) talks about the effectiveness of learning as a group. He stressed that learning is like a social activity shared by individuals, then absorbed and personalised by each individual (Proserpio & Luigi, p.2).

  1. Event management

    and have a sound basis of establishing marketing objectives and strategies for the event. 2.7.2 SWOT Analysis Strengths * Low cost investment to establish the exhibition (Sponsors) * Money will be donated to Paphos General Hospital for a new equipment * Reliable and trustworthy * Through the use of the

  2. With reference to your local area, would a new healthy fast food restaurant represent ...

    Many businesses start cutting back on costs i.e. Labour, introduce shorter weeks and cut back on advertising to save money. This will have an affect on my business in the sense that I will have fewer customers which will resolve in me making more of a loss than profit.

  1. For this project I have been instructed to come up with a marketing strategy ...

    at the moment, so a good thing to do would be to create a feedback group with some prototype phones and see what changes they would like Nokia to make to them. * Generating income or profit- This is the reason why I had to review Nokia's current strategy, the

  2. The marketing models I will evaluate will be SWOT and PEST analysis, the product ...

    * Cadbury's Question Marks would be the new Mye and Snaps as they have recently entered the market and have a low market share and high growth and they haven't started to make a profit yet as it has high costs from making, development and introducing it to the market.

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    They use location as they have most of their dealerships in the firm's home country, Germany, as this is where they get most sales. Their dealerships in the UK are in desirable locations with high class residents such as Surry and areas of London.

  2. Marketing plan

    * Competitive pricing: All products will be priced competitive to the Cape Town/Claremont market. 2.1.3 Market Trends The market trend for women's fashionable shoes is toward a wider selection of common design elements. Over the last few years, there has been a proliferation of several design variations from a base design.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work