The Capstone Project will require you to take the knowledge you’ve acquired throughout this specialization and put it into practice. Each week is divided into the different components of the Marketing Strategy: Market Analysis, Marketing Strategy, Marketing Mix Implementation and Expected Results. Review each week’s theory and concrete the takeaways with quizzes aimed at reinforcement of the concepts. After reviewing the material learned you will be asked to analyse the case study: ¨Hotel Ipsum: A Marketing and Commercial Strategy to Survive.¨ Now it’s time to put what you’ve learned to the test! Hotel Ipsum’s General Manager, Rafael Escobedo, is faced with a dilemma: Despite his hotel doing fairly well in terms of sales and profitability, Rafael’s Board of Directors are not satisfied and are demanding an improvement in results. Now it’s up to you to create Rafael’s Marketing Strategy. The outcome could mean one of two things: praise from his Board of Directors…or unemployment! Along with the Capstone are discussion forums, quizzes and peer reviews to aid you in your understanding of the theory given throughout this Specialization. Share your thoughts, ideas and debate with other like-minded learners from all over the globe with the same interest in expanding their marketing knowledge.
Let´s talk about the Marketing Strategy for Hotel Ipsum
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來自 IE Business School 的課程
Marketing Strategy Capstone Project
15 個評分
從本節課中
Developing a marketing strategy through positioning.
與講師見面
Ramon Diaz-BernardoAssociate Professor
Marketing
Hi, let me now get you to the next week in the in the marketing plan project
that we are doing.
It's the Capstone Project.
And again, we are going to go now to the next step,
which is finding the marketing strategy.
The marketing strategy, as you know is a central part of the marketing plan and
it's basically where we define objectives.
Some of the objectives in this case are very clear.
Some of them are not so clear.
Some of them are explicitly said in the case.
Some others is going to be you the one defining the objective.
So, let me remind you of the structure that we use in terms of
objectives in our In a marketing plan.
The first one is usually the financial objective.
So, the idea is what should be the final output of this marketing plan?
What should be the final financial objective?
And in this case, I think it's very clear.
I think it's in the first paragraph of the case.
That is basically saying, they need to increase profit.
They need to increase their performance.
And actually, they need to lever a specific return on investment,
which is 6% return on investment.
If you do the numbers, you're going to conclude that this 6% return on
investment means a profit of around $864,000.
So, that's objective.
The whole thing is putting together a marketing plan to achieve that objective.
You should also define, basically, other objectives that could be
added to this financial objective like, for example, non-financial objectives.
We something very, very interesting and very much used today in marketing plans,
for example, things related to brand.
Brand awareness, purchasing intention, brand perception.
So, different things that are going to help us have
a better definition of the objectives in the marketing plan.
Another thing that should be always ways in the marketing strategy,
the finish and is finding customer objectives.
And in customer objectives,
we're referring specifically to two different possible objectives.
Attraction and retention.
Attraction of new customers and retention or
increasing loyalty among the existing customer base.
The two of them probably are relevant, but it's going to be you the one defining if
they should focus more on attraction or retention or what should be the mix,
probably attraction is going to happen more during weekends, I guess.
Why? Because in weekends,
they have low frequency while retention and
loyalty's going to be happening more on weekdays.
Because that's where the business travel that comes and
also the occupancy is the highest.
So it's going to be you, actually the one defining this mix and
then the final part of the marketing strategy which I think is
the most important is defining the target segment and the position.
So the idea is saying, you have different possible segments to target here and
you should be the one again defining what should be the target segment for
hotel in this marketing plan to be international travelers or local traveler,
should it be business travelers or leisure traveler.
So it's going to be you basically, the one that's going to fit the target mix.
I wouldn't go for just one single target, but probably a mix of different targets is
going to be the one that can deliver the final result in terms of profit and sales.
And then the positioning, of course,
that is going to be how do you want to be perceived?
What elements of differentiation do you want to express in your marketing plan?
So quick summary, financial objectives, non-financial objectives.
Customer objectives attraction and retention, and strategic objectives.
Meaning, target segment and positioning.
And with this,
we should close the marketing strategy step in the marketing plan.
Once again, I think it's challenging, but I know you're going to learn a lot and
it's going to be very useful for your future marketing plans.
Thank you very much.
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