Steps for Marketing Plan

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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