1.0. Marketing Objectives
Corporate objective is an objective that relates to the business as the whole. For the first year of operating the hotels objective will be: To achieve at least 5% of London hotel industry market share within the first year. Functional objectives consider of different business functions such as marketing and financial. Within the first year the hotels functional objectives will be: To achieve an average of £140 room tariff on off peak times. To increase customers awareness globally by 30-40% within the first year. To achieve occupancy rate of 65% and retain it for the whole year. To increase personnel salary by 5% (pa) and provide training to ensure customers services are up to a high standard. Unit objectives achieve sales of £500,000 within the first year, and continue growth. 2.0. Consumer orientation
The purpose of a business is to "create and maintain" satisfied, profitable customers (Levitt, 1986). When the needs of consumers are met, they are more likely to be attracted and retained. They will not only return to the hotel and benefit from it, but also talk favourably to others about their satisfaction. However, in order to meet their needs, it’s essential to categorise the customers into segments. The chosen segment for this organisation is "Business Travellers" both domestically and from overseas. Business traveller segment indicates that consumers are classified into three categories: Behavioural, Psychographic and Profile. Following these categories, it is easier to identify the segment and the consumer needs and wants when choosing products or services. In order to succeed in this market knowing consumer segmentation is key. Therefore by identifying it (see Table 1) the business is able to know its market and their needs. Business travellers are high earners therefore their purchase behaviour will highly depend on customer services, facilities and luxurious rooms. Therefore, as a hotel, our main focus will be “providing the right services to the consumers” because the hotel will be offering short term intangible aspect to the consumer which means that we either provide the right services and give the consumer what they need which will lead to a long term relationship or ignore it and only provide one time stay. Business travellers are most likely to arrive to the hotel by taxi after a long trip by plane therefore they will be expecting a good welcoming services rather than to be waiting, or disrespected in some ways (CNN, 2012). They are more likely to avoid being around indoor pools, elevators or surrounded by people who make a lot of noise. However, as we are only considering keeping the hotel for business travellers ONLY, our aim is to maintain their pleasures stay, to avoid disappointment in our services and make sure they return in the future. Hotel industry is conceived of five different typologies, according to the authors Swarbrooke and Horner (2002) (Swarbrooke & Horner, 2002) which are based on the purposes of travelling. The following typologies are: * Meetings, conference and conventions
* Training courses
* Product launches
* Incentive travel
Meetings are defined as “an organised event that brings people together to discuss a topic of shared interest...” – Davidson in (Swarbrooke & Horner, 2002). Therefore, business travellers are keen on a location which has an easy access, and has the right facilities for small or large meetings. Many business travellers from overseas will be travelling around the world for certain product exhibitions, trade fairs or expositions (Swarbrooke & Horner, 2002) ; these are very demanding consumers for a convenient, relaxing hotel, as...