DEVELOP AND IMPLEMENT MARKETING STRATEGIES
Development of marketing strategies
Determining marketing approach
For every business, there must be a strong marketing strategy to promote a service or product. Aussie Wanderers Tours and safari has developed some new ideas and strategies so that they can grab the tourists for using their new service. They have made various brochures, posters, stickers and packaging about their new hotels, which they are going to launch and have spread them to the tourists, who are travelling with them. They are also providing a 50% discount for the first hundred tourists who will avail their new service of accommodation. They have briefly described all the facilities that they will provide to the tourists in their hotels like bed and breakfasts and other refreshments. They have also thought of providing their business card to the tourists so that they can contact their office afterwards and can get the detailed information of their service.
Brand Risk, Price Risk, Operational Risk, Sales Risk, Reputational Risk
There are various types of risk that the business can face like brand risk, price risk, operational risk and reputational risk that can affect a business. The owner of Aussie wanderers’ tour and safari must look that the food and beverages that are provided in the hotels must be of good quality and brand. Suppose if someone who eats the food of this hotel get severely sick and needs medical treatment then the hotel service will be blacklisted. The owners and the investors of this service must take care of the price risk. If their hotel cannot attract much tourist then the money they have invested in this service will go in vain,. The hotel service business will get flop and their business will fail. For example, if the investor does not get any profit or the money that the investor has spent in the business then there will be a price risk in the business.
There can be an operational risk also in this new business like if the client and tourist do not get satisfy with their services. Operational risk seems to be the causing regulators the most concern and they struggle with it. It affects the reputation and financial stability of a business significantly. Business needs to look and control the operational risk. Sales risk can occur if the owners of this service cannot attract customers. This risk can happen if the proposals of the service are rejected from the customers. If the price and rates of the services are very high then there can be sales risk. It can also happen if the goods and facilities that are provided in the hotels are not up to the mark. Reputational risk is the one, which can happen if they do not get good review from the customers about their services. This can hamper the reputation of their services and can affect the business.
Legal, Ethical and Sustainable Practices
Different license and registration are required to start this hotel service in Western Australia. For starting this new service the owner, need certain license. They have to follow the Australian business license and information service. Another important act that needs to be followed is the Privacy Act 1988. The business needs to maintain some ethics like social responsibility, environmental responsibility. They can undertake some corporate social responsibility like providing employment to the local people to work in their hotels for betterment. They have to follow the Corporation Act (2001) details for the products and services. They also have to look the taxation requirement of business that includes GST and PAYG. They have to grow the loyalty and trust from the stakeholders and customers.
Discussion of idea with stakeholders
The owner of the Aussie wanderers tours and safari have to discuss their new service with the Stakeholders that they are going to start about how they can start their new service in the market. For implementing this business, the main stakeholders are the tourist, businessperson, and local people of that area. Stakeholders can provide the capital that needs to be launching the service in the marketplace. They can also provide guideline and advice to the owner in providing the strategic direction for implementing this new service.
Justifying the strategy
Aussie wanderers tours and safari have made several brochures and posters and have attached them in various places. This will help the consumers and tourists to know about the service, products, photos of their hotels and information. This will create interest in the mind of tourist to use these services. The discount that they have provided for the first 100 tourists will bring a craze in the people to go in their hotels as fast as possible. This way they can get success in their new launch business. They have started sharing their services in social media that is the best way to target people.
The impression of Social media allows the business to target all the people by age, location, interests, gender and so on. This will also help the tourist to stick to the budget by creating a cap on how much they want to spend daily or monthly. They have also promoted their business by hosting an event and this will attract people physically into the promotion. In this event, they have allowed the people to speak something for sharing the review of the service that they are going to start. By doing this the people will more likely, to sign up or try it out if there is a glowing review from the other customers.
Assessment 2: Marketing plan implementation
The management has developed the marketing plan to implement the marketing strategy in the new business. The first step in the implementation plan is:
Owning the marketing plan:
In this step, the main aim is to go through the detailed action plan. Prepare a champion and dedicated team. It is very important for the management to involve in the project.
Giving proper support to the marketing plan:
The management should provide the adequate resources and time to the marketing plan for better implementation. It is also important to provide the necessary skills in the project.
Adapting the marketing plan:
For better implementation of marketing plan, the management needs to do the feedback measures and modify the plan as and when the situation demands.
Assessment 3: Implementation of the Plan
The key performance indicators for hotel services select measures that really matters for lasting success.
Online rating: the owner should make sure that they get, as many online reviews as possible as this are very valuable because the guests and the tourists select the hotels by seeing the quality of this reviews. If there is a negative review about their services then there will be a negative impact, which will help the owner to correct their service and make it better for the tourists.
Occupancy: the most critical and simplest measure of the hotel services is the occupancy rate. There should be enough rooms available for the tourists.
Average rate index: this measures how a specific hotel’s average daily rate compares to competitive sets. The rate should not be much high at the beginning of starting the business.
Customer’s satisfaction: customer satisfaction is the most important thing in the hotel business. Suppose if the tourists who will avail this service gets a complete satisfaction with their services then they will recommend other relatives and friends to visit this hotels. It is the most challenging key performance to measure but without satisfied customers the owner will find difficult to challenge in business against the competitors of the market, especially when online rating are a currency of choice for the guests.
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