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Travelcorps Business Plan

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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.

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