Question Answer of – Marketing Audit Example
The marketing audit example should cover the following question to be solved in this Marketing Management subject areas:
- Construct a Marketing TOWS for Travelodge, explaining the Marketing Audits that you have undertaken in doing so.
- On the basis of these findings, state and justify 3 Marketing Objectives that should be set for the ‘Enabling a leading brand’ Marketing Campaign over the 12 months period.
- Outline and examine the Marketing Mix Plan that your marketing plan needs to consider in order to achieve these objectives over the 12 months period.
- Provide proposals on how Travelodge can improve their levels of Customer Service as part of their ‘Enabling a leading brand’ Marketing Campaign.
Marketing strategy and plan assist a company to get to know of the market and who they are going to serve in response to their strength, weakness and so on. Marketing plan and strategy always must be taken considering the current demand and situation. A company also adopts long term plans besides short time plans for continuity of business operation. In this report, it has been underlining the marketing strategy and plan which is chosen for the company “Travelodge”. The marketing plans and strategy of “Travelodge” will be helpful to utilize better business operation with good business performance and combat the COVID-19 crunch moments. It has been analysed the TOWS analysis matrix to find out the company’s threats, weakness, opportunity and strengths and showing its likeliness to survive in the market for the longer period of time by taking proper strategies from those aspects of TOWS. The marketing objectives are associated with SMART principles to focus on goals achievement and make necessary attempts to obtain clients at maximum level. The marketing mix of Travelodge is also properly analysed. Finally, it has been recommend for customer service developments.
Every company must follow marketing strategy and plan to successfully run the operation. To hatch the best plan and strategy a company hires marketing personnel and their tasks are to formulate best possible strategy according to the current situation. This plan assists to sustain the improvement of the company and its advancement to ensure the customers satisfaction to the fullest through providing their services offerings. This helps as a guide for the company how to organize its resources, personnel, its implementation and keep an eye on everything that is running within and outside the company for a stipulated time. Plans and strategy are adopted according to the company’s goals, vision and mission. This plan and strategy strongly supports the company to fulfil its objectives (Victorino, Verma, Plaschka and Dev, 2005).
Fruitful marketing strategy and plan assist a company to get to know of the market and who they are going to serve in response to their strength, weakness and so on. It also helps in figuring out their competitors and their offerings how to execute them properly to enjoy the sustainability in the long run by taking timely measures. Marketing plan and strategy always must be taken considering the current demand and situation. However, these very plans are different from company to company, products to products and based on goals and mission and vision. This marketing plans tend to be short time as market are constantly changing and consumers preference are changing and new products and services are available in no time with comparatively reasonable price and easily. Conversely there must be a fundamental plan associated with the vision and mission which will only be modified slightly in accordance with time and demand to achieve them. A company also adopts long term plans besides short time plans for continuity of business operation.
In this report I am concentrating on the improvement of marketing strategy and plan to complete my report. I will like to apply them and check their worthiness in our chosen company “Travelodge”. I will provide you the idea about their business operation, their tasks, their management and other relative issues. Company’s success generally lies on the proper utilizing the marketing plans and strategy greatly after deep scrutiny. I will discuss about the marketing mix here of my company “Travelodge” and try to give some recommendation on their plans and strategy so that they are able to utilize them in operating their business performance and combat the COVID-19 crunch moments.
1.1 Background of the Company
Travelodge, a private company, is a hospitality and hotel industry situated across the United Kingdom. It is the largest brand of hotel in UK spreading over 570 hotels throughout UK. It turns out to be the country’s best hotel brand in case of value in 1985 and its first operation was at Barton in Needwood of England. It has become popular and stronger with the passing day. There are 40,000 accommodation facilities not only in UK, but also in Spain an Ireland. They are extending their services to all people in case of ages so that they have the privilege to experience a nice tour and ambience. They are delivering their utmost services to their clients.
2.0 Task 1
Marketing Audit is known as the scrutiny of the market ambience of business in terms of system, evaluation, comprehensiveness and interpretation. This market ambience or environment may be internal and external both. The purpose is to find out goal, strategy and solve a problem and figure out opportunities and address the issue and solve it accordingly with best solution (Pankova, 2016). It is imperative to know the company inside out to obtain the objective and goals of the company. It helps identify new opportunities, threats, strengths and weakness of the company. Moreover, a company has clear idea how to execute the plans to have successful results and minimize costs and offering best services.
Firstly it is important to know the structure, system of the company to make proper plans. This plan is made to solve the matter within the audit procedures. It is better to study the company vigorously inside out and gather the information as depth as possible regarding the company to have better results. This process contains of budget, performance and resources that needs to be measured and be confirmed that the marketing audit is being performed well. Furthermore, it also assists in decision making because the more relative information a company gathers the more chance to have positive and reliable results to fulfil their goals and strategy of company.
2.2 TOWS Analysis
TWOS stands for Threats, Weakness, opportunity and Strength. This matrix is used to find out the company’s threats, weakness, opportunity and strengths to show its likeliness to survive in the market for the longer period of time.
2.2.1 S-O Strategy
S-O strategy of TOWS analysis is called maxi-maxi strategy. It is used for maximizing opportunities by using the strengths. The S-O strategy of Travelodge would be demonstrated as follows:
- Due to the strengths of price affordability by the customers of Travelodge, therefore the expansion of global business would be very easy for them because travelers from any corners of the world prefer to have affordable price offerings to get the service like 5star or star hotels.
- Due to the strengths of strong promotions, the possibility of capturing global customer would be very easy for travelogue because promotion is the best approach to attract large number of customers at a single time.
- Due to having a good customer base and pre booking system through online, Travelodge may develop their business as eco-tourism business (Pankova, 2016).
2.2.2 S-T Strategy
S-T strategy of TOWS analysis is called maxi-mini strategy. It is used for minimize the threats by using the strengths. The S-T strategy of Travelodge would be demonstrated as follows:
- Due to having the strength of providing almost 500 facilities, so the threat of competition could be easily handled by Travelodge because this is a massive strength to provide travellers diversified facilities.
- Due to having the strength of taking pre bookings through online or telephonic conversation, they can offer customized services which will be able to minimize the threat of similarities in services because customized service is always unique to get better response from travellers.
- Due to having huge number of premium customers holding Business Account Card from Travelodge, therefore the threat of global unfamiliarity would be balanced by increasing the number of premiums customers by providing them the facilities of Business Account Card because those card holders are entitled to get special price offerings, facilities etc. (Sutcliffe, 2018).
- After Covid-19 pandemic situational threats, the business need to survive in that case the strength of huge number of premium customers will help them to develop the customer base as they always love to stay in Travelodge (Pankova, 2016).
2.2.3 W-O Strategy
W-O strategy of TOWS analysis is called mini-maxi strategy. It is used for using the opportunities to overcome the weakness. The W-O strategy of Travelodge would be demonstrated as follows
- The trend of eco-tourism is very much significant to develop sustainable business by travelogue because, eco-friendly hospitality is preferred by so many customers. In that case, travelling customers who large families will prefer to be introduced with eco-friendly services.
- The opportunity of global business expansion by Travelodge would be very much effective to overcome the weakness of providing customized services because in that case Travelodge must have to provide customized services. So, it will be ensured that Travelodge is fully equipped with customer services by delivering customized services along with all room services.
- To capture the opportunity of global business expansion, it is identical for Travelodge to develop their interior decoration as it may appropriate to global standard (Pankova, 2016).
2.2.4 W-T Strategy
W-T strategy of TOWS analysis is called mini-mini strategy. It is used for avoiding the threats and minimizing the weakness. The W-T strategy of Travelodge would be demonstrated as follows:
- The threat of extensive competition could be avoided if Travelodge introduce the services of facilities which is the weakness of them. So, the wide range of service offerings along with the customized services and room services may avoid the threat of completions.
- The threat of global unfamiliarity could be avoided by Travelodge if the extend the business beyond UK and Ireland markets. In that case, the weakness of providing room services for large parties and big families should be overcome because foreign tourists visit with their family members or it may have a corporate business tours by large parties (Pankova, 2016).
3.0 Task 2
Marketing objectives include the goals of the company and marketing team are engaged in designing the outline and implementing the marketing objectives. Marketing objectives also contain the directives assigning for the employees of the company and execution procedures and way of achieving the company’s goals. Basically these very objectives are adopted to create plan how to obtain the company’s goals, mission and vision and pave the ways to reach pinnacle in the market (Ertz, 2016).
The main purpose of operating a business is to make profit. They come up with many services to boost up their revenue. To make more revenue they focus on making business objectives and with the help of proper business objectives it becomes feasible and comfortable to achieve them in a short time. It is generally used as a roadmap or guideline to know the purpose of what they actually need to do. Also it indicates how they will perform this and it also involves responsibilities and set up stipulated time to finish it. Moreover, the personnel associated with the tasks have a clear direction and advices about their work and it results in motivating them and increasing their productivity and efficiency. For the benefit of the company it is indispensible to have more concentration on performing the objectives to obtain the company’s goals and mission.
SMART stands for Specific, Measurable, Achievable, Relevant and Timely. It means that the objectives and goals should have aforementioned criteria. Lately companies are using this technique to obtain the company’s objective and goals accurately. Here the concerned persons come up with different types of plans and it is narrowed down and adopts the best suitable plans and they finally start working on it and it should be completed within the stipulated time (Gu, Sheng and Yuen, 2019). It generally holds the concentration on company’s works, strengths and boosts the possibility to obtain them in favour of the company. However, it is imperative for company to choose their target and set up a specific time to start working on it and also the time to finish within it so that they efficiently perform it and they will be active and productive as well.
3.2 Marketing Objectives for Travelodge
Objectives and how to achieve it
Travelodge is a renowned hotel brand in the United Kingdom. They need to establish some objectives of marketing considering the COVID-19 condition and those are given below:
- They may take initiative to provide the solution of customers any kind of query within one months.
- Travelodge will strive to develop their services and introduce customers’ pleasing measures by 30 May 2020.
- They will update their website and be active with their promotions and services in social media or any other online platform.
Finally, they will focus on their objectives and make necessary attempts to obtain those and increase their number of clients at maximum level. Besides these objectives the management should focus on their employees protocol and company’s necessary guidelines. It may require some time to utilize the benefits.
4.0 Task 3
Marketing mix refers to the factors that a company put reign over it to have an impact on customers regarding purchase their offerings. It is a tool to define the products’ offering and to evaluate if the products need to be developed. Moreover, marketing mix is necessary to attract the target customers and market. This mix should be considered carefully to retain them and have supremacy over their competitors. Following is the description of the components of marketing mix of Travelodge:
Travelodge is a hotel that offers their services at reasonable price for their customers. Their clients are mainly adventurers and travellers. They are not concerned to provide any extra services to their clients to have better experience. Therefore, they can concentrate on this issue and introduce additional and better services to enhance the satisfaction of the valued clients (Socomics, 2018). They can take some initiatives to find out customers’ need, expectation and demand so that they can introduce them in their services and achieve the company’s goals to the fullest. They should focus on the affordability of the services to the clients as well.
They are offering different kinds of products. Promotions, advertisements to satisfy their valued clients. Still it is not up to the mark and they may increase their service price a little bit and develop their service quality. They also need to ensure that the clients feel comfortable as well. Considering the pandemic of COVID-19 and its post situation, the hotel may provide discounts; safety measures equipment like sanitizes the rooms properly and keep other necessary equipment at hand to motivate the tours to come (Knutson, 2001).
Tourists prefer such hotels, which will be comfortable along with destination place and price. Travelodge may focus on the management and services (Socomics, 2018). They can take necessary measure to make their client comfortable and feel pleased while staying in the hotel. They may focus some innovation that the clients will feel excitement.
They need to focus on promotion as well. They should advertise their products and services properly in public places, online sites and social media to increase their clients (Knutson, 2001). They may adopt strategy to connect with their clients even after providing service via social media etc., take feedback from them, viral their feedback and so on.
People refer to the personnel and clients of the company. They are interrelated and may assist each other. They both play an important role in growth and promotion of the company. The personnel of the company play their part by taking good care of their clients and the clients can help the company behave nicely and provide valuable positive feedback regarding the company (Opara, 2016).
5.0 Task 4
Customer service is a crucial part in the hospitality industry. Therefore, management sets stern guideline for the employees to follow. They must follow some protocol while they deal with any clients. They must behave nicely with their customers and solve any query of the clients. They need to check their client’s requirements, demands and take initiatives to fulfil it at the earliest. Lately the importance of this service is not possible to overlook (Opara, 2016). Clients become faithful to the company due to outstanding customer service and it can generate more value from clients. The significance of this services are given below:
- Best customer service unleashes the opportunity to retain the clients for long period.
- Loyal and satisfied clients help the business grow by word of mouth marketing strategy.
- This also leads to boosts up the image of the hotel and reduce promotional costs.
- It assists to develop their offerings and results in generating more profits.
- It enjoys a competitive advantage over the competitors in the market.
Customer service is an important factor in case of hospitality industry to be considered. They may concentrate on innovation to bring the touch something new in the hospitality sectors. In addition, they must keep in mind the customers’ requirement, demands and preferences. They can utilize online platform to identify customers’ requirements and preferences and design their services accordingly (Victorino, Verma, Plaschka and Dev, 2005). It will please their customers. Also Travelodge must keep pace with the modernity with their products and services in every task. They can adopt some measures, which are given below:
- They can categorize their clients and provide new and special offers and offers discounts based on them.
- They can provide some complementary services to their value clients so that they could retain their customer for long time (Rather and Sharma, 2017).
- They can also keep a box in the hotel where the clients will drop their valued feedback, their experiences.
- Travelodge may modify the guideline, the pattern of management and the protocol of their employees.
- They must train their employees at higher standard according to time demand.
- They may provide gifts to their valued clients to keep as remembrance.
- They should make prompt solution to their problem and queries.
Travelodge is well and popular hotel in the United Kingdom. They have different kinds of clients and takes necessary efforts to provide their clients their best services. Though it has some limitation but they are known as better accommodation service provider in the UK. They are constantly working on their marketing mix and offerings to sustain in the market and retain their clients. They also continuously take part in planning and its execution to deliver the best service to their clients. No business can survive without proper plan, objectives (Henderson Britt, 2015). At the end, Travelodge is also devoted to provide the best service to their client and loyal to their customers. They care for their customers. Therefore they engage in the betterment of the customers’ satisfaction and through this they are able to achieve the company’s goals, mission as well.
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