Hospitality Marketing and Sales

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Information about Hospitality Marketing and Sales
Business-Finance

Published on January 7, 2009

Author: aSGuest9556

Source: authorstream.com

Marketing and Sales : 28 April 2006 1 Marketing and Sales Getting to Know the Market : 2 Getting to Know the Market Geographic Where do your customers come from How far do they travel Demographic What are their characteristics Gender, age, education, occupation, income etc. Psychographic Self-image and lifestyle What do they value – Allocentric v. Psychocentric Behavioristic For business, special occasion, loyalty The Marketing Process : 3 The Marketing Process What to offer? Product category To whom to offer? Target Market At what price? What is the strategy for distribution? Creating awareness Through what channels? Retaining Customers. Marriott Strategy : 4 Marriott Strategy A change from focusing on Accounts to a focus on Industry Deciding on Intermediary Strategies Key Segments Airlines, Associations, Entertainment, Government, Intermediary, Multi-cultural, SMERF, Sports, Business Travel, Catering 3 Key Strategies : 5 3 Key Strategies Segment Analysis and Strategy Development Sales Support of Account Management Segment specific value added that drive incremental sales Segment Analysis and Strategy Development : 6 Segment Analysis and Strategy Development Marriott’s position w/in segment Competitive analysis Segment Marketing Plans Business model strategies Data collection and integrity Data and trend analysis Sales Support : 7 Sales Support Leveraging brand initiatives Supporting the market direct sales effort Account management in key industries Facilitate coordination of field efforts Company representation at industry and trade shows. Segment Specific Value Added : 8 Segment Specific Value Added Segment leaders Web-based support for direct sales effort Corporate and franchise support Industry value adds through targeted promotions and marketing Targeted Segments : 9 Targeted Segments Airlines Business partners and revenue source -$185 billion industry Business Travel Refers to individuals that travel separate from associations. This market travel for a variety of reasons and lodging needs will change Entertainment Movies, theaters, production crews Government $20 billion a year segment – with fixed stipends Targeted Segments : 10 Targeted Segments Intermediary Secondary sources which sell your property Sports Most think of professional sport teams but a large and growing market is the weekend youth sport leagues Sales & Marketing Activities: Websites : 11 A review of market competition Occupancy trends /ADR trends / performance of own hotel Competitive analysis of your competitor Strengths / weaknesses / price structure Competitive analysis of your own hotel Strengths / weaknesses / price structure Sales & Marketing Activities: Websites Marketing plan development: format of marketing plan Sales & Marketing Activities: Sales Efforts : 12 Marketing plan development: format of marketing plan Sales & Marketing Activities: Sales Efforts Forecast of future market conditions Estimated market growth or contraction / performance goals and objectives for own hotel / timeline for achieving these goals and objectives Determination of specific marketing strategies & activities Advertising / public relations / promotions Preparation of a marketing budget Development of measurement & evaluation tools Development of measurement & evaluation tools : 13 “Special” packaging of products or services Promoted and disseminated by advertising and publicity Development of measurement & evaluation tools Information about hotel, media-distributed free of charge Costs the hotel nothing May be either good or bad Development of measurement & evaluation tools : 14 Activities ensuring hotel has a positive public image (good citizen of the community) Hosting charity events, contributing cash or in-kind services, donation of hotel staff time for worthy cause Development of measurement & evaluation tools Sales & Marketing Activities: Websites : 15 Sales & Marketing Activities: Websites Effective hotel websites should: be easy to navigate. have some level of interactivity. be linked to appropriate companion sites (demand generator). allow for online booking. balance guest privacy needs with hotel’s desire to build a customer base. update and revise room rates easily on the website. include a virtual tour of the property. complement other marketing efforts. be in language(s) of potential clients. have website address easy to remember. Evaluating Sales & Marketing Department: Pace Report : 16 Evaluating Sales & Marketing Department: Pace Report Is a document summarizing confirmed (group) sales made by Sales and Marketing dept. Can be prepared based on number of rooms sold, value (in dollars) of sales made, or both Can also include any period of time in the future Tells hotel’s owner and management the potential sales volume generated by Sales and Marketing department However, does not indicate what actual sales volume should be (STAR report does!) Evaluating Sales & Marketing Department: Sample Pace Report : 17 Waldo Hotel Group Rooms Pace Report for January, 200x Evaluating Sales & Marketing Department: Sample Pace Report Evaluating Sales & Marketing Department: The Smith Travel Accommodations Report (STAR) : 18 STAR working process and preparation Evaluating Sales & Marketing Department: The Smith Travel Accommodations Report (STAR) Who are the STAR interest groups? Evaluating Sales & Marketing Department: The Smith Travel Accommodations Report (STAR) Hotel voluntarily submits financial data to Smith Smith maintains confidentiality of all individual hotel data Combine operating data submitted by selected competitors An individual hotel’s operating performance is compared to that of its competitive set (understanding the competitive set is key component of understanding STAR!) Hotel owners, management companies, property management, franchisers, appraisers, financial community Evaluating Sales & Marketing Department: The Smith Travel Accommodations Report (STAR) : 19 Evaluating Sales & Marketing Department: The Smith Travel Accommodations Report (STAR) Occupancy, ADR, RevPar, market share, historical trends, to-date performance, state or region Assess performance of Sales & Marketing department as well as the entire property Know the strength of hotel and Sales and Marketing staff’s sales results, in comparison with selected competitors.

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