Marketing for Hospitality and Tourism. The Role of Marketing in Strategic Planning. Chapter 3 презентация

Learning Objectives
Explain company-wide strategic planning.
Understand the concepts of stakeholders, processes, resources, and organization as they relate to a high-performing business.
Explain the four planning activities of corporate strategic planning.
Understand the processes involved in defining a company’s mission and setting goals and objectives.
Discuss how to design business portfolios and growth strategies.
Explain the steps involved in the business strategy planning process.

Characteristics of a High-
Performance Business

Stakeholders
Customers
Employees
Suppliers
Communities where businesses are
located.
A business must at least strive to satisfy the minimum expectations of each
stakeholder group just mentioned.

Process
Company work is traditionally carried on by departments. However, departmental organization poses some problems. Departments typically operate to
maximize their own objectives, not necessarily the company’s. There is usually less-than ideal cooperation. Work is slowed down and plans often are altered as they pass through departments.
Ex: Las Vegas Hillton (Market segment accounting)

This hotel wanted answers to the following questions
1. What is the relative profitability of the gaming guest? The premium-gaming
guest? The tour and travel guest?
2. How many room nights can each segment fill a year?
3. How much money should be spent to attract each segment?
4. How should rooms be priced for each segment?
5. How should these rooms be allocated to the segments during critical periods of
the year?

Resources
To carry out processes, a company needs such resources as personnel, materials,
machines, and information. Traditionally, companies sought to own and control
most of the resources that entered the business. Now that is changing.
Ex: Outsourcing

Strategic Analysis: Questions That Generate Creative Ideas
1. How can this firm take advantage of changes that are expected to occur in society?
2. How can this firm use its relationships with customers to maximize its position in existing
or future businesses?
3. Are there any stakeholders that should be seriously considered for partnerships?
4. Does the firm possess any resources or capabilities that are likely to lead to competitive
advantage?
5. Are there any resources or capabilities the firm should consider developing to achieve
competitive advantage?
6. Can the firm form joint ventures or other alliances with competitors or other stakeholders
to acquire valuable knowledge, skills, or other resources?
7. Are there any resources or capabilities the firm does not possess, the absence of which
might put it at a competitive disadvantage?
8. Are there any looming threats in the broad environment that the firm should consider in
developing its strategy?

Organization
The organizational side of a company consists of its structure, policies, and culture, all of which tend to become dysfunctional in a rapidly changing company.
Although structure and policies can be changed, the company is the hardest to
change. Companies must work hard to align their organization’s structure, policies,
and culture to the changing requirements of business strategy

Corporate Strategic Planning: Defining
Marketing’s Role

Defining the Corporate Mission
A hospitality organization exists to accomplish something
According to Peter Drucker, ask:
What is our business?
Who is the customer?
What do customers value?
What should our business be?

Developing Growth Strategies
Integrative Growth
Diversification Growth
Market Concentration (penetration) Strategy
Market Development Strategy
Product Development

Ansoff product-market expansion grid

Diversification Growth
Concentric
Diversification
Horizontal
Diversification
Conglomerate
Diversification

Integrative Growth
Backward
Forward
Horizontal

Customer-Driven Marketing Strategy

Benefit segmentation

What can you say about it?

Developing an Integrated Marketing Mix

Managing the Marketing Process
Control
Implemen-tation
Planning
Analysis

SWOT Analysis
Internal Environmental Analysis
External Environmental Analysis

Goal Formulation Strategies
Overall Cost Leadership
Differentiation
Focus

Key Terms
Ansoff product–market expansion grid A matrix developed by cell, plotting new products and existing products with new products and existing products. The grid provides strategic insights into growth opportunities.
Backward integration A growth strategy by which companies acquire businesses supplying them with products or services (e.g., a restaurant chain purchasing a bakery).
Concentric diversification strategy definition to look like this. Definition to look like this.
Conglomerate diversification strategy A product growth strategy in which a company seeks new businesses that have no relationship to the company’s current product line or markets.
Corporate mission statement A guide to provide all the publics of a company with a shared sense of purpose, direction, and opportunity, allowing all to work independently, yet collectively, toward the organization’s goals.
Forward integration A growth strategy by which companies acquire businesses that are closer to the ultimate consumer, such as a hotel acquiring a chain of travel agents.

Key Terms (cont.)
Horizontal diversification strategy A product growth strategy whereby a company looks for new products that could appeal to current customers that are technologically unrelated to its current line.
Horizontal integration A growth strategy by which companies acquire competitors.
Macroenvironmental forces Demographic, economic, technological, political, legal, social, and cultural factors.
Market development strategy Finding and developing new markets for your current products.
Market segmentation The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior who might require separate products or marketing programs.
Marketing opportunity An area of need in which a company can perform profitably.
Marketing strategy The marketing logic by which the company hopes to create this customer value and achieve these profitable relationships.
Microenvironmental forces Customers, competitors, distribution channels, and suppliers