Competition among hotel and hospitality business has increased enormously as customers are getting more educated and fashionable. They’ve been demanding more luxurious services and products which urge organisations to focus on better marketing and strategic planning. Hotels and firms now believe that personal and strong relationships with potential customers is key to competitive advantage in today’s competitive business environment. The idea of developing and upholding the relationship between customers and organisations through comprehensive marketing plans took a while. Before, organisations were more vigilant to improve their line of products and services only. Strategic Marketing planning was introduced by theorists and policy makers when they identified the need and scope of long-term relationship with individual customers and it greatly influenced the market. “How internal and external factors are essential for hotel and hospitality business and how they possibly can affect the business in positive or negative way”? To answer these questions, this research study will mainly focus on some key factors of hospitality business and they will be discussed at length in order to establish a more explicable analysis (Steven Pike, 2008).
Table of contents
Critical Evaluation and Major Findings3
Crown Plaza Hotels & Resorts is prestigious brand of InterContinental Hotel Groups chain which operates in more than 100 countries all over the world. Crown Plaza shares its mission statement that “To create great hotels guests love” and has earned great competitive advantage over its competitors in Hotel and Hospitality business. Undoubtedly, some hotel of such prestige and luxury cannot afford to disappoint its base of customers and will keenly observe those parameters and strategies which help keep the customers revisiting the hotel. The essential need for marketing planning can be perceived though this idea and therefore this research study will incorporate the concept of strategic marketing for Crown Plaza hotel. For this, I will meticulously study the existing practices of marketing planning in Crown Plaza Hotel and carefully observe all parameters so that this study can help other hotels and the organisation itself in future (Abdullah and Zahir, 2009).
To maintain competitive advantage and keep organisation out from critical business situations, Crown Plaza needs efficacious marketing plans to evaluate and determine potential risks and threats, thus devising strategies for flourishing development. The comprehensive marketing plan would facilitate Crown Plaza hotel to determine its current position among its competitors, its strengths, its weaknesses, opportunities and threats associated. The determination of weaknesses and subsequent planning to neutralize, even turning them into strengths will help organisation to meet its corporate mission (Mumel and Snoj, 2007). As hotel and Hospitality business is full of opportunities and promising business environments, Crown Plaza hotel can earn great benefits from such opportunities. And last but not least, threats and risks associated with hotel industry which can seriously damage the reputation of Crown Plaza hotel it gained through the span of time. All these circumstances provoke the need of an integrated, well-structured and analytical approach. SWOT analysis is one of the acute solutions available for critical evaluation of market needs (Anja Böhm, 2008). Broad information is required from Hotel, its competitors, its business environment and overall market to acquire a resourceful market analysis. Obviously it will require performing environmental and competitor’s analyses as well to add comprehensiveness to the study. SWOT analysis is one such tool that can easily compact and present the process of analysis by critically evaluating internal and...