Unit 2 Marketing Plan

Marketing plan is a road map that the Marketing department of a company developed to bring the product and services it wants to the market. The Marketing department devised such a plan based on its budget and the market research it conducts. The plan also needs to match the company's overall mission and strategic objectives. Without the plan, marketing efforts will become piecemeal and ad hoc and would be up to luck whether the company would achieve the desired performance.

There are two parts to the Marketing plan:

The first part involves a good understanding of the aspects in the external environment so we can

offer a product or services that the market wants: Analyzing marketing opportunities and

challenges, analyzing your markets, market segmentation, and conducting market research.

For the second part, the company will use the information gathered in the first part to form basis to

decide on the optimum marketing mix .

The Macro-environment

All hospitality organizations operate in a macro-environment that is constantly changing, and such changes often give rise to opportunities for marketers to do business or pose threats to the companies.

Thus, before companies consider their marketing strategies, close monitoring of such environmental changes is essential. To achieve this end, hospitality marketers must study and monitor six major forces (demographic, economic, political/legal, social/cultural, technological and natural/ecological) as shown below.

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