The emphasis on strategic priorities for the implementation of the marketing plan is discussed in task 1. The projected outcomes with pragmatic marketing decisions generations along with the realistic estimation of the growth in terms of growth and customer acquisitions are discussed in the marketing environment from the previous assignment. The critical analysis of the marketing environment and implementation of the marketing plan successfully with the focus on the customer acquisition and revenue growth are also discussed in the previous task for the marketing planning and various aspects related to the marketing environment such as budget, strategies, and other aspects were discussed in the presentation for the previous task. The current assignment will follow up on the planning, designing, and other matters in the field of strategic marketing situations for the business objectives in the given Stamford hotels and resorts (Ailawadi, et. al., 2017). The various aspects in the terms of marketing strategies and objectives for the Stamford hotels and resorts will be discussed in this assessment. The budget and planning for the promotional and increment in the business objectives will be focused and strategies will be implemented for the enhancement of the business in terms of growth and development in the marketplace.
Current marketing situation analysis
Business definition and scope:
Mission statement
The hotel mission of the Stamford Hotels and Resorts for 2021 is to provide the best facilities of accommodation, lodging, transportation, and many more to gain the attention of a large number of customers from different countries. Also, the hotel focuses on social distancing among all the guests and aware of such people regarding wear masks while they meet any person. Hotel staffs also wear a mask all the time which can reduce the chance of spreading the virus.
Product definition:
At the industry level:
Stamford Hotels and Resorts have various products that help them in attracting a large number of customers at a different level. At the industry stage, the hotel needs to make innovative ideas that assist in widely reaching with huge clients towards an organization (Brown, et. al., 2018).
At each product category level:
There are various categories of hotels that assist in retain and gain the attention of the guest. It includes customer service, internet connection in the hotel, transportation, and deliverability.
Product categories targeted by our organization and our products competing in those categories
| Product category | Competitors products |
| Customer services | Telephone facility |
| Parking management | Separate parking area |
| Clean accommodation | Transportation |
| Additional kitchen in the room | Extra services |
Competitors and their products competing in these product categories:
| Competitors | Competing products |
| Kempinski Hotels | Transportation and customer facilities |
| The Peninsula | Housekeeping and attached bar section |
| Taj Hotels. | Availability of spa, wellness services, convenience |
| Oberoi Hotels & Resorts | Rooms items, guest services, and laundry bags |
Scope
Stamford Hotels and Resorts have strong internal and external business operation method which helps them in smoothly operate their functions in the large market place (Cioffi, 2019). There is a scope for the hotel is to concentrate on improving their marketing of products, promotional activities, distribution networks and analyze competitive advantages. This will assist the hotel in attaining high success and growth levels.
External environment
Economic forces:
It is that factor which can directly impact on Stamford Hotels and Resorts functions and smoothly run o operations. In the context of economic growth, the Australian economy experienced an unstinted development in past few years (Farris, et. al., 2015). The country’s economic growth has been slow down due to COVID 19 but they are focus on increasing the speed of gaining higher success by attracting their customers.
Implications
| Opportunities | Rating | Threats | Rating |
| The main opportunity for Stamford Hotels and Resorts is to focus on the inflation rate as per this they need to decide for their hotel | 3 | Due to the recession in-country, Stamford Hotels and Resorts can face major losses and lack of customers stay at the hotel which reduces its income or profitability | 2 |
Socio-cultural forces
It is that factor which is affected by the changes in current trends and products on the business operations. At the time of COVID 19, there were lower bookings of accommodation which create major damage to the hotel profitability level. Most of the Australian hotel has been closed in aril 2020 (Gabbianelli, et. al., 2020). This is an unpredictable disaster that develops highly massively impact on the social sector.
Implications
| Opportunities | Rating | Threats | Rating |
| With the help of analyzing this social factor, Stamford Hotels and Resorts can easily understand the current demand and needs of customers. As per this, they offer such a form of service. | 4 | Due to COVID 19, most people do not want to stay at any hotel whether they are following precautions. This will create a huge loss to the hotel. | 3 |
Political or legal forces
It is that factor which is directly or indirectly impact on business functions. Stamford Hotels and Resorts need to follow all the legal rules and regulations to smoothly regulate their hotel functions (Galati, et. al., 2017). Also, they require analyzing political scenarios so that they can make decisions as per the government described rules.
Implications
| Opportunities | Rating | Threats | Rating |
| Stamford Hotels and Resorts have the opportunity to examine government legislation and applied such law which is best suitable for further functions of the hotel. | 4 | If the respective hotel does not implement the mentioned rules and laws then they will face major issues and problems. | 4 |
Technological forces
It is such a factor that plays an important role in business growth and success. It is necessary for Stamford Hotels and Resorts is to adopt the latest and advanced technology which helps in increasing the goodwill of an organization. In addition to this, it helps develop easy work for the staff members of the hotel, and with the high technology system; they can manage the hotel management process in a better manner.
Implications
| Opportunities | Rating | Threats | Rating |
| This factor assists in enhancing hotel growth and reputation. With advanced technology, the hotel can take reviews of guests’ through online and book rooms in advance. | 5 | Sometimes, the hotel can face technical issues which will stop all the processing and management system. This will create problems for the guests while they are check-in and check-out from the hotel. | 3 |
Natural environmental forces
It is that factor which mainly influences the business environment and its operations. Such involves a broad range of disparate items that include local politics, economic climate, education to workers, and consumer revenue (Hanssens, et. al., 2016). The respective hotel needs to provide such products that could not harm or damage the business’s external or internal environment.
Implications
| Opportunities | Rating | Threats | Rating |
| By the development of environment-friendly services or products, the hotel can smoothly run its business in any area and the government also approves its requirements. | 4 | If a hotel does not follow environment-related norms and rules so they will get punished and need to give a penalty to the higher authorities of the country. | 2 |
External environment-near environment
Market review
Description
The Australian market is very competitive and friendly in which any hotel can easily enter and promote their products and services to the customers (Hunt, 2017). Stamford Hotels and Resorts also analyze the whole marketplace before introducing any new facility to their customers, this will help them in making an accurate decision.
Implications
| Opportunities | Rating | Threats | Rating |
| Requires to analyze the whole market place where they can establish a brand for attracting customers | 4 | Possibility of issues arises in front of the hotel | 3 |
Competitive review
In the market place, there are huge numbers of competitors that create major issues for the Stamford Hotels and Resorts as they are also offering a similar type of service.
Implications
| Opportunities | Rating | Threats | Rating |
| Need to expand their range of analyzing the competition strategies | 4 | Face huge loss in sales | 3 |
Distribution channels and buyers
Stamford Hotels and Resorts have a wide range of distribution networks which helps in promoting a variety of products and services among potential customers (Josephson, et. al., 2016).
Implications
| Opportunities | Rating | Threats | Rating |
| Increase goodwill and reputation of hotel facilities | 5 | Sometimes, does not cover whole areas in a limited time | 3 |
End-user customers
Most of the companies are focus on providing the best products and services to their end-users so this will fulfill and satisfy their needs or requirements in a better manner.
Implications
| Opportunities | Rating | Threats | Rating |
| Attracted towards the hotel services | 4 | Always changes in demand and preferences | 2 |
Supply
Stamford Hotels and Resorts manage their supply management process through which they can gain huge income and profitability and also retain desired customers.
Implications
| Strength | Rating | Weaknesses | Rating |
| Helps in delivering required services and products | 4 | Poor supply management can create an issue for the hotel process | 3 |
Situation analysis-Internal capabilities
Non-marketing capabilities
These forms of marketing can shape their company’s growth and development all over the areas. This will provide higher success to the respective hotel (Kumar, 2018).
Implications
| Strength | Rating | Weaknesses | Rating |
| Collect marketing information | 3 | Not useful in many areas | 2 |
Marketing capabilities
It is mainly used by a hotel in which they are training their marketing team so they can build a strong presence in the market as well as customers’ minds regarding their brand.
Implications
| Opportunities | Rating | Threats | Rating |
| Helps in developing a strong brand image in the market | 4 | Need a huge amount to train the marketing team members | 4 |
Strategic marketing objectives
Strategic marketing objectives are very important in marketing strategies. Stamford Hotels and Resorts use SMART objectives for the growth and development of the business in the market place. The SMART stands for specific, measurable, achievable, relevant, and time-bound. The objectives of the Stamford hotels and resorts are defined using smart goals which are easier to fulfill the market strategies.
Specific: the goals need to be specific and focused in which the involved parties, goal, time limit, usage, skills for gaol, and its importance need to be strategized for the Stamford hotels and resorts which are trying to expand the business for growth and development. The goals can be to increase customers’ attention by providing extra beneficial services like spa, massage, pool, etc.
Measurable: the monitoring of the marketing strategies is required to be done by the market manager for Stamford hotels and resorts which will measure the accurate performance of the strategies applied for reaching goals objectives. This stage will help in finding out the plus and minus points in the strategy for achieving specific goals for the Stamford (Moorman, et. al., 2016).
Achievable: the goal should be achievable, not unrealistically attainable. The realistic approach for the goal achievement for the Stamford needs to be attained, in which various measures can be taken to attract the attention of the customers towards services of Stamford hotels and resorts.
Relevant: the goal needs to be relevant to the business’s growth and developmental factors. The goal should not be irrelevant for business growth and development. The customer’s attraction is a relevant point in business growth and development which is not a distraction but positive factors in Stamford’s development.
Time-bound: the goals for the Stamford need to be time-bound which should be completed in a particular period. The timeframe helps in the successful completion of the objective goals in a fixed period. The end of the goal will be defined and it will not limp on forever.
Marketing mix strategies
The marketing mix strategies are the set of tactical and controllable marketing tools which are used by business organizations to gain desired responses or outcomes for its targeted market place. Marketing mix strategies include various kinds of factors which help in the strategizing of the business’s growth and development for the marketing planning for attaining expected results in the targeted market place.
The 7P’s are used for the development of a marketing strategy to evaluate the business activities in the market place. The 7P’s are product, price, place, promotion, packaging, people, and positioning (Thrassou, et. al., 2018). The 7P’s help in ensuring the marketing strategy is on track and the maximum outcomes are gained for the possible marketplace.
Product: Products and services being provided by the Stamford should be according to the taste and trend of the customers who are using its services. The product should suit the customers which can increase business (Spiller, et. al., 2015). The Stamford cans extra services like complimentary breakfast, holiday coupons, spas, massages, etc. which will attract the customers towards the services and products of Stamford hotels and resorts.
Price: the prices for the services need to be adjusted according to the market situation which will attract and do more business as the customers will be more interested in the prices of the services being used. The Stamford can adjust prices of stays and other activities according to the seasons in which the organization will benefit from the specifically targeted customers in the market place.
Place: the place for the services should be nice and decent which will improve the marketing options for the firms and development strategies can be established. The Stamford need to decorate the hotels and resorts for acquiring a new and fresh look which will amaze the customers to come again and again in the hotels and resorts for various services and products (Thrassou, et. al., 2018).
Promotion: promotion activities are very important in the marketing strategies for the Stamford which will be focused on attracting more and more customers for providing the best products and services for the customers. Small changes in the marketing and promotional strategies will result in major achievements like promotional campaigns on social media platforms that will engage the promotion of the Stamford hotels and resorts and people will love to come. The social media helps in the promotional strategies which are very useful to achieve the target goals of Stamford hotels and chain to grow in business.
Packaging: the marketing mix has a very important element which is the packaging. The packaging of the product is very important as the perspective of the customer changes according to the packaging of the products. The services of Stamford hotels and services need to have engaging packaging such as a stay in hotel rooms come with complimentary breakfast or resorts rides can be on sale at weekends. This strategy can highly attract a wide range of customers for the resorts and hotels of Stanford (Tafesse, et. al., 2018).
People: people are a very important element in the marketing mix strategies where every action and plan is specified by the people’s inner and outer side of the business. The people for Stanford are responsible for the success of marketing strategies. The recruitment of the right people will immensely help in the success of
marketing strategies.
Positioning: The position of the brand and services in the mind of customers required to be analyzed in a regular manner which will help in finding out the flaws and negative points which are resisting the Stamford from increasing its power in the targeted market place. The goals need to be reminded for achievement in the targeted marketplace to help in marketing strategies for the growth and development of the Stamford hotels and resorts.
Marketing budget
It is a prediction of projected value to the market of Stamford Hotels and Resorts products or facilities. The budget of marketing will be taken into account of all marketing costs such as salaries for marketing managers, marketing communications, cost of office and so more. The marketing budget of the respective hotel is described as under:
| Marketing expenses | Estimated cost ($) |
| Marketing communication | 6000 |
| Marketing Research | 40000 |
| Social media marketing | 10000 |
| Marketing employees | 12000 |
| Marketing analytics | 15600 |
| Sales support tools | 20000 |
| Sales staffs | 15000 |
| Marketing training | 12000 |
| Overhead cost related to the marketing | 10000 |
| Total costs | 140600 |
Marketing measurement and metrics
Marketing measurement and matrices are the factors that help in the evaluation of the marketing strategies applied for the products and services and how well these strategies helping in meeting the customers’ key requirements. The marketing measurement can be done by KPI which is website traffic growth. This indicates the popularity and usage of the company website in a specific period. Stamford Hotels and resorts can use the marketing measurements and matrices for the evaluation of the marketing strategies used for the growth and development of the business on a wider range. Marketing strategies are very important to be evaluated (Thrassou, et. al., 2018).
The marketing matrices are speculating the perceptual map for the marketing strategies success and other factors for the Stamford hotels and resorts. The marketing strategies play an important role in the establishment of the promotion of the product and services for the customers need to be improved for achieving the goals and objectives for the growth and development of the business activities of Stamford hotels and services. The marketing matrices are used for the mapping of the effectiveness of the marketing strategies applied for the enhancement of the business in a wider range for achieving the goals and objectives of the Stamford in which the customers will be attracted to the services and extra perks being provided. The negative impacts or minus points in the marketing strategies can be improved for establishing of the market strategies to achieve the targeted market place in the market for customers to provide the various range of services and products for improvement.
Conclusion
From the above-described report, it has been concluded that strategic marketing is an important element that helps in planning, developing, and executing the maneuvers to attain a competitive advantage. In this report, the discussed the situation analysis in which PESTLE forces along with its implications, external and internal business environment, and scope of the hotel. Along with this, SMART objectives, strategic marketing mix, and budget of marketing also explained.
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