The marketing team has analyzed the market segmentation and is committed to improving the consumer perception of the brand. The company hopes to increase the market share by a minimum of 20 percent in two years. The management has invested in talent reward management and competitive remunerations to reduce staff turnover rates. The strategic and management team of Fairmont Express Hotels and Resorts is also committed to the overall wellbeing of the local communities through CSR. Table of contents Executive summary 2 Table of contents 3 4 Introduction 4 Market situation 4 Threats and opportunities 5 Opportunities 6 Threats 6 Objectives and issues 6 Marketing strategies 7 Action program 9 Annual Budget 9 Controls 10 Appendices 10 References 11 Introduction The Fairmont Express Hotels and Resorts are located in multiple cities across North America and many parts of the world. They include New York in the US and British Columbia in Canada. The facility offers breathtaking views of natural beauty and rich heritage owing to the fact that it is roughly a century old. This has early the hotel respect and customer perception of high standards. The hotel offers convention rooms, culinary experiences, a variety of foods and family vacation facilities among others. The management has had to keep evolving to meet the changing demands of the growing market. The hotel has over hundreds of refurbished rooms which are fitted with modern technological features. The brand is established to give a high end luxury impression to the market. Market situation The role of hospitality the world economy has been on the rise. The industry has been one of the most profitable with unprecedented growth rate. However, the market situation indicates that the market can perform better. Economic decline has had a negative effect on the market performance with the hotel and tourisms industry being coerced to scale down. The hotel industry is faced by acute staff shortage during the peak seasons (Wood & Brotherton, 2008). Therefore, the industry is using incentives and reduces staff turnover rates and to ensure that they remain competitive. Hotel industries should segment markets into consumer groups that are homogeneous. Hotels like Fairmont Express target their market segments carefully through identifying the differentiating advantages that attract each segment (Wood & Brotherton, 2008). This includes offering competitive prices and choosing qualified personnel. Implementing marketing segmentation demands proper strategies. Model hotels have to implement market segmentation in complex organizational environments minimal resources and customer legacy (Shoemaker et al, 2007). Market segmentation addresses the market situation directly since its one of the most basic marketing concepts. The hospitality industry is divided into leisure and travel. Research shows that growth is forecasted to drive the hotel industry to reach $640 billion in the coming years. The economic stability in North America has been attributed to the success of the hotel industry in American and Canadian hotels. The market situation has been boosted by the significant growth as a result of a slight decline in the cost of travel (David, 2005). Changing lifestyle and availability of leisure time as an integral part of life has increased the market share. The ageing population in developed countries
Marketing Plan of Fairmont Empress Hotel Name: Institution: Executive summary The management of Fairmont Express Hotels and Resorts is committed to addressing the need to increase its brand ratings. The marketing plan reveals the commitment of the company to increase its market share in the face of stiff competition…
The report has also analyzed the external business environment of USA, which is a necessary task while developing a marketing plan. The report has also conducted SWOT analysis for identifying the strengths, weaknesses and also the external threats & opportunities.
Marketing is a process of letting the customers knows the value and cost of a product. When a product is marketed, it will link the society material requirement together with the economy pattern: the process of marketing build an exchange process leading to a long term good relationship with the customers.
An organization business success largely depends on how efficiently the products and services are delivered to customers and how differently do the customers perceive the difference in delivery in comparison to the competitors.
To be specific, it has become the fourth largest source of foreign exchange earner with US $384.4 million revenue in 2007(Appendix 2). At this juncture, setting up a budget hotel to suit the needs of middle class and lower class travelers is found to be viable and prosperous in future.
The product strategy for this organization aims to attain consumer preference for pet therapy. Since consumers cannot be coerced to reveal their preferences, it is important for the marketing team to convince consumers that their services
As such, even though this particular form of marketing would be beneficial in generating brand recognition and interest, it will ultimately be useless unless there is a working website associated with the content
This hospitality chain does projects the variedness within its service types as its unique selling proposition (USP) in order to attract customers (FRHI, 2014). Below mentioned are some of the service varieties that the hospitality chain offers to its customers
This is common among the high end spas and salons. While these paid adverts have proved to be effective, personal contact is more important for a business that wants to retain most of its customers and also engage in viral marketing. This is a great opportunity that
The service will be sold directly to the customer. This will be in line with the nature of the business since this is a service and not a product that can be sold through the normal channels of marketing.
The strategy is that I have enough knowledge and