• 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. Marketing Plan for the Targe' Full Service Spa Salon

    It is important to develop a strong marketing/business plan. This brainstorming will allow you to consider some issues that may have been overlooked with the initial development of the idea. Marketing Strategy When marketing a particular item or service it is almost impossible to tackle an entire market, this is left to be handled by the larger companies.

  1. Event management

    * This is because the cost of setting up such an exhibition is low. * There is no major legislation preventing entry. * It is the first exhibition for fund raising scope in the market; Kyklos Art Gallery might enjoy good reputation, which will attract other companies to compete.

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

    on the company * Limited audience * Can link to site where A6 sold * Fairly suitable Audi promote and sell their products under the company brand name. This helps to create brand loyalty which may earn higher profit, help keep customers, launch new products new easily and extend the brand.

  1. This report will focus on the adult palliative care provided by SAH proposing a ...

    Online relationship building The website will allow SAH to developed and sustain relationship with new and more importantly existing donors and volunteers. This will be achieved through emails, posting board, and chat facilities. The posting boards will allow past consumers of the SAH service to give feedback.

  2. Marketing Strategy - Nintendo Gamecube

    Asset-led marketing Consumer orientation At one extreme, firms tend to consider their strengths and assets (anything providing a flow of benefits to an organisation over a certain time period) when marketing decisions (product orientation), whilst at the other extreme the customer rules in every case.

  1. Produce a marketing strategy for a new or existing product

    Cosmopolitan has to explore the needs of its customers and the activities of its competitors before it can develop a marketing strategy. In order to gain this understanding of the market for this product they need to experiment with various of methods of research and understand the use of different

  2. Marketing Thorpe Park and London Dungeons.

    It uses a mixture of live actors, special effects and rides. This horror theme park situated on London's South Bank gives visitors the opportunity to explore the darker side of British and European history. The London Dungeon, which opened in 1975, is a creepy recreation of many of history's most gruesome events.

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