The paper "Haymarket Hotel Marketing Plan" is an outstanding example of a marketing case study. The Haymarket Hotel London is among the most strategic and influential hotels in the UK tourism and hospitality industry. In this case, the venture has expanded its market influence and as well as control through a consumer diversification strategy. However, a strategic evaluation of the organisation illustrated that the venture ad additional market opportunities to focus and venture into invariably new markets. In this regard, an evaluation of the organisational operations and strategic positioning in the UK, the organisation can expand through the diversification approach.
In this case, this implies that the venture should develop new products in the industry to serve a new consumer segment (Batiz-Lazo and Wood, 2003, p. 205). This report develops a strategic marketing plan through which the Haymarket Hotel can develop and grow its operations by expanding onto the corporate organisations' consumer segment. In this case, the report offers an evaluation of the consumer segment characteristics as well as the marketing strategy marketing mix elements. Finally, the marketing plan offers strategic analysis of the approaches through which the proposed marketing plan success and performance rates would be evaluated both in the short and long-run periods.
In this regard, the report integrates analysis of the organisational operations and requirements with existing marketing theories and models. 2.0 New Target Market In order to develop a relevant and market-specific marketing plan, the report developed an analysis of the target customer segment analysis. In this regard, the analysis evaluated the target market characteristics, its industry growth trend as well as its future trends and development expectations. 2.1 Selection Rationale The corporate customer segment represents institutional customers.
In this regard, unlike the traditional Haymarket Hotel customer segments that were individual members, the new target consumer base targets organisations. In this regard, these will include, but not limited to domestic and multinational organisations. The selection of this consumer segment is based on the understanding of the growing global trends as well as the UK market development. On one hand, the global market operations environment is changing with the increasing technology adoption and globalization. As such, Rangan and Sengul (2009, p. 1498) stated that this concept has increased the overall global movements as well as the emergence of multinational organisations and the ease of movements.
In this case, an evaluation of the aviation industry registers that over 40% of their passengers are often on business-related trips in and out of the EU market. In particular, an evaluation of the UK market and especially London illustrate that it serves as a business hub and gateway into the EU market. In this regard, technology developments, a growing consumer base, and favourable policies have increased business ventures attraction in the UK market.
Therefore, the Haymarket Hotel seeks to tap into this market base, whose evaluation illustrates that it is currently at its growth stage. Therefore, the inflow of corporate customers into the UK market is expected to rise in the future, making it a viable consumer target market venture. 2.2 Characteristics In addition, a characteristics evaluation of the target consumer base characteristics indicates that among the most demanded facilities and services include quality accommodation for organisational staff as well as seminar, conference and meeting halls for the respective business and other corporate functions holding.
Finally, as part of a CSR program application, such a consumer base is expected to demand leisure activities such as sporting facilities among others. However, an evaluation of the current situation of the Haymarket Hotel Illustrates that the organisation has a wide variety of the required facilities such as its conference halls and quality accommodation. Moreover, the strategic organisation allocation, at the heart of the London city and its ease of accessibility creates an added advantage with this consumer segment as travel to and from the hotel to business missions would be comfortable and guaranteed for the target consumers.
Therefore, this analysis illustrates that a focus on the corporate consumer segment by the hotel is justified and a viable alternative in the long term period.
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