Marketing Plan For Rainbow Hotels Samples †MyAssignmenthelp.com

Question: Discuss about the Marketing Plan For Rainbow Hotels. Answer: Introduction The report is based on the formation of a sales andmarketing plan Rainbow Hotel located in Rotorua. Rotorua is a city located beside the Lake Rotorua, which is situated in area of Bay of Plenty Region in the North Island of New Zealand. The hotel Rainbow is located in this city and it is a five star hotel. The ranking given to the hotels is different in different parts of the world. The star ratings are given to the hotels based on the amenities, service level, price, location and cleanliness. A five-star hotel possesses all the facilities that can be provided to the guests. The staffs show outstanding levels of service and care provided to the customers. The maintenance, cleanliness and hospitality provided to the guests in a five star hotel are of high standard. The guests have access to golf courses, gym and fitness centre, pool, and tennis court and luxury spa services (Amini et al., 2012). In this analysis, a detailed marketing plan will be designed for Rainbow Hotel in the city of Rotorua. The purpose of this report is to examine the market in this area with the help of different strategies. Further, the target market segment will be decided based on which themarketing strategies of the hotel will be formed. The ultimate objective is to sell the marketing plan to Rainbow Hotel. Detailed marketing plan for Rainbow Hotels Situational analysis of the market using Porters Five Forces, PESTLE, SWOT Porters Five Forces model is used to detect the profitability of the business in the industry and its effectiveness. The five forces of Porters model are as follows, Competitive Rivalry This step refers to the number of rivals that the organization has in the market. Rainbow hotel has many competitors in Rotorua. There are large numbers of five star hotels who provide high quality services to the guests. Supplier power The suppliers of the business or in this case Rainbow Hotel have an impact on its business and profits. Buyer power The power of the buyers or the guests of the hotel to choose from between alternatives affects the profits of the hotel. Threats of substitution The customers or guests of Rainbow hotel have the facility to choose from options, as there many other hotels available in this area. Threat related to New Entry The position if an organization can be affected by the entry of new player in the same industry. Rainbow hotel will face this threat as Rotorua is booming tourist destination and many new hotels are coming into play (Eva et al., 2014). PESTEL analysis is the examination of the area where the business is set up is done (Gobble, 2012). This is a part of the situational analysis of a business. Political factors The political factors in Rotorua mainly relates to the inequality of distribution of wealth in this area. The people of this city suffer from unequal distribution of income. Economical factors The economy of New Zealand is competitive and is export-driven largely. The World Bank as the most convenient place to start a business certifies New Zealand. This factor will prove to be helpful for the Rainbow hotel business. Social factors The social conditions in New Zealand is a mix of the Maori culture and the Western culture. The city of Rotorua is mainly dominated by the Maori culture. The tourism industry is facing a boom in this area and this is profitable for the Rainbow hotel business (Zekiri Nedelea, 2012). Technological factors The city of Rotorua is technologically sound. The citizens of this area use many new and innovative technologies. Environmental factors The natural environment of Rotorua city is beautiful and attractive. The people in this city believe in providing great hospitality to the tourists. This place is famous for many hot springs, mud pools and many more attraction that is natural. Legal factors The legal condition in New Zealand is independent and protected. The legal system is ranked higher than countries like UK and Canada. This condition is favorable for the business setup of Rainbow hotel (Hanssens et al., 2014). The next step in situational analysis or market overview is the SWOT Analysis of the business. SWOT refers to the Strengths, Weaknesses, Opportunities and Threats related to the business (Clardy, 2013). The steps of this analysis are explained as follows, Strengths The strengths of the Rainbow hotels is that the city of Rotorua is a beautiful place with a lot natural beauty. The citizens of this area believe in the spirit of Manaakitanga or hospitality. There are many natural hot springs, mud pools and natural geysers. This is an advantage for the business of Rainbow hotel because tourism is linked with hotels and hospitality and this will lead to a boom for the business. Weaknesses The weakness of this business is the presence of many competitors in the market. There are many other five star hotels in this city catering to the guests with high levels of service, hospitality, amenities and facilities. Opportunities Rainbow hotel has many opportunities in this area. The hotel can increase its level of service, provide membership plans for the loyal guests, and design a website in such a way so that it provides all the relevant information about the hotel and its facilities. Threats The threats to Rainbow hotel are the other five star hotels in this city. Some of these are Peppers on the Point Lake Rotorua, Regal Palms Resort, and Black Swan Lakeside Boutique Hotel. These hotels offer world-class international services to the guests from all over the world. Rainbow hotel has to raise their standards to the international level to compete with these properties (Huang Sarigll, 2014). The three types analysis done in the above section gives a brief overview of the market of Rotorua city. The suitability of the area with the business is explained in detail. Market segmentation, target market and market positioning Segmentation of market is the process by which the market is divided into segments or groups based on the requirements of the potential customers. In this case, the target market for Rainbow hotel is mainly the tourism industry. The city of Rotorua is gifted with natural beauty and cultural diversity. This feature helps in attracting tourists from all over the world, who in turn will increase the business of the hotel (Khan, 2014). Objectives of marketing SMART objectives of marketing is a short form for the five characteristics, which are S- Specific, M- Measurable, A- Achievable, R- Relevant, T- Time sensitive (Yksel, 2012). The specific goals of the marketing activity of Rainbow hotel are mainly to increase its business area. This helps the organization to achieve its goals and increase the profit levels. The goals of this marketing activity are measurable in terms of profit generation for the hotel. The goals are achievable for the business because it has the capability to increase its profit percentage by increasing the levels of service. The objectives of this marketing campaign is relevant with respect to the area where the business is setup, the reason being that the city is a hub of natural beauty and attracts a lot of tourists. The objectives of this marketing activity are time sensitive because the hotel needs to overcome its competition to create its own favorable position in the market (Talpau, 2014). Strategies of marketing mix The strategies of marketing mix are linked to the Ansoff Matrix, which addresses different perspectives of promotional activities for a product, like, Market development for existing products that refers to the process of analysis of the position of a brand or product in the market and accordingly try to develop the market position. Diversification is a risky step for an existing product, however it is also necessary for the expansion of business (Day, 2013). Market penetration is a step necessary for a new product that is about to enter the market. This ensures that the new player can create its unique position in the market. Product development is a necessary step in the placement of the product in the market. The product has to be developed in such a way that it has its unique qualities (De Mooij, 2013). The marketing mix for Rainbow hotel based on the seven Ps of marketing mix (Cirikovi?, 2014), Place Observations - The place where the business of Rainbow hotel is setup is favorable, the reason being that Rotorua is a tourist spot and this will help in generating business for the hotel. Recommendation and aim of the strategy - Designing attractive packages for the tourists will attract a lot of tourists to the hotel (Singh, 2012). Price Observations - The tariffs of the hotel services should be decided in such a way so that it is able to compete with the other players in the market. The offerings of the hotel need to be competitive in nature. Recommendation and aim of the strategy The competitive pricing of the tariffs will attract more guests thereby increasing business Promotion Observation - Promotional strategies of the hotel include the creation of an attractive website for the hotel so that the tourists can get all relevant information about the hotel, the offers, the packages, the tariffs beforehand. Recommendation and aim of the strategy - The promotional activities include digital marketing through social media vehicles. People Observation - The staff of the hotel should be chosen carefully, so that they fulfill all the requirements related to the hospitality and excellent services provided to the guests. Recommendation and aim of the strategy- The recruitment of suitable staff for the hotel will ensure high quality of service and this in turn will increase the footfalls of guests. Process Observation - This part of the marketing mix is directly linked to the service industry. Recommendation and aim of the strategy - The hotel industry is a part of the services industry. The service consumed by the guests and the process of consumption is important. Physical environment Observation - This involves the ambience of the hotel, which is being marketed. The facilities, amenities and services provided to the guests needs to be up to the mark and it should be enhanced to the international level (Lilien Grewal, 2012). Recommendations and aim of the strategy This will ensure that the guests tend to choose Rainbow hotel when compared to its competitors. Product Observation - This is the most important and integral part of the marketing mix of the product. The product in this case is the Rainbow hotel. Recommendations and aim of the strategy - The quality of services, ambience, value for money provided to the guests and the loyalty of the guests that is achieved by the hotel is taken into consideration in this step of the marketing mix of the hotel. This helps the hotel in increasing its revenues thereby generating profits (Same Larimo, 2012). Budget, Implementation and Control The sales and marketing plan of the hotel needs a considerable amount of money to be allocated by the hotel administration. This involves the costs related to promotion of the services, recruitment of trained staff for the hotel and increasing facilities for the hotel. Action Cost Implement Control DESIGNING ATTRACTIVE PACKAGES 5 Million Dollars Marketing and designing department Within a year TARIFFS 100 Dollars Marketing department 6 months DIGITAL MARKETING 2 Million Dollars Marketing department Within a month RECRUITMENT 5 Million Dollars Human resource manager 4 months Conclusion The report can be concluded by saying that the sales and marketing plan designed for Rainbow hotel is feasible in terms of cost and availability of resources. The overview of the market is provided. This gives an idea about the area in which the business is being set up. This analysis helps the management to understand the requirements of the business. This provides the idea of the areas where improvement is required in the business processes and operations. The marketing mix of the business is also discussed which relates all the aspects of the business with respect to the area where the business has its operations. The sales and marketing plan gives a detailed analysis of the business and the external factors affecting the business. The target market of the business is discussed in the report. The budget of the sales and marketing plan is also provided, so that the management is able to decide about the feasibility of the plans and strategies. References Amini, A., Darani, M., Afshani, M., Amini, Z. (2012). Effectiveness of marketing strategies and corporate image on brand equity as a sustainable competitive advantage.Interdisciplinary Journal of Contemporary Research in Business,4(2), 192-205. Cirikovi?, E. C. (2014). 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