Situation Analysis of Hilton Hotels?
Each member of Team D has learned how an effective marketing forecasting can be in creating a demand and a need for a product/niche. There have been numerous lessons learned during these six weeks. We all seem to agree that there needs to be an effort to try to create an effective market forecast for demand. That one needs to have an effective sales trend in place to aide in pricing and distribution of a product in any market. Also you can not define demand if there is no appeal for the product by the customer. Team D also learned that there are no certainties in demand forecasting. Demand dictates whether or not a company should place/introduce a product into a new market. Each member of team D plans to implement the four P's and good solid research into each of their Marketing Audits. If good sound research is not conducted then team D's forecasting of each market demand will not reflect true market demand sales/numbers. Each team member is going to define and understand each of their markets so that efficient and effective decisions can be made as to current trends/markets. Another, aspect that Team D's members plan on doing is to research each of their competitors to find out relevant information on their products/pricing and how they affect future trends, markets and prices. Each plan will need to be too re-worked many times before the desired result is achieved. An effective Marketing plan is one that is flexible while meeting the needs of the demand, market and is pleasing the customer needs. This should allow each member to produce a solid forecasting plan for each of our Marketing Audits. To help to ensure that we are able to predict future treads and market we will also need to study each markets culture, customs, and beliefs, economic and political structures so that future forecasting can meet the needs and demands of each market. Once a market niche is in place each team member will try to...
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