TopicThe project is to develop a Marketing Plan for a hypothetical hospitality outlet. The group will be presenting the plan like they were presenting it to a financial institution with the hopes of receiving funds for the project. The firm can be a small individual outlet or a regional chain of outlets, but it must be a representation of an entrepreneurial concept in the hospitality industry. The plan will be expected to positively impact sales and profits during your first year on the job. The project is to develop a Marketing Plan for any hospitality concept of your choice.
The steps in the process are:
1.Choose a hospitality firm as the project subject.
2. What is or should be the mission statement.
3. Explain the value proposition and the compare it to the competition.
4. Develop a structured marketing plan with specific objectives.
The plan should include these items:
1. Executive summary
2. Environmental analysis
3. SWOT analysis based on macro and micro environment
4. Competitive analysis identifying Core Competitors and Secondary 5. Competitors with their relative strengths and weaknesses
6. Anticipated customer demographics and psychographics
7. Forecasted cost & revenue estimates
8. Budget for the plan
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