3.4 Marketing plan
3.4.1 Marketing strategy
Marketing strategy is the logic by which the business unit hopes to achieve its marketing objectives (Kotler, Wong, Saunders, & Armstrong, 2005, p. 72). Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control, and those are: product, price, place and promotion (called the 4 Ps) (Kotler & Armstrong, Principles of Marketing, 2012, p. 48).
General’s Bed and Breakfast will segment the market and employ a customer centric marketing strategy that will focus on individual customers emanating from both local and international markets. The business will, upon expansion, make use of various vehicles of marketing i.e. advertising, promotion and branding. …show more content…
The indirect channel will be used since it makes services widely available. Additionally, from (Q16) (Appendix 2) it can be seen that respondents get information about available accommodation mostly from booking sites like Booking.com and AirBnB.com. Therefore, the services of General’s Bed and Breakfast, will be offered on this sites as well. The provision that these intermediaries charge lies in the range between 10% and 15% of the nominal price (30.00€ in my case). That means that the price offered on these booking sites is foreseen to be in the range between 33.00€ and 35.00€, which is in accordance with Q10 from the questionnaire, i.e. the biggest part of the total number of respondents are prepared to pay between 20.00€ and 40.00€. After the deduction of the fixed percentage provision by the intermediaries, the selling price relevant for the General’s Bed and Breakfast revenue calculation will be actually the one as declared in the projected sales forecast in the revenue decomposition presented on Figure 34, i.e. …show more content…
Choosing the right and quality location is important and even vital for any Bed and Breakfast’s profitability and success, because it affects the ability to draw customers. Therefore, it is very important for the location to be easily reached, convenient and attractive for customers.
The location of Generals Bed and Breakfast is an essential element for every aspect of the business. General’s Bed and Breakfast is located in the settlement of Konjsko/Istok which is one of the most attractive locations in Ohrid. This location is perfect both for tourists who like to spend more time on the beach, as well as those who like to explore the historic monuments, enjoy in the cultural events, or even go mountain hiking. The uniqueness of the location of General’s Bed and Breakfast can be seen in the following:
• a magnificent view on Lake Ohrid;
• closeness of the mountains and the possibility for
3.4.1 Marketing strategy
Marketing strategy is the logic by which the business unit hopes to achieve its marketing objectives (Kotler, Wong, Saunders, & Armstrong, 2005, p. 72). Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control, and those are: product, price, place and promotion (called the 4 Ps) (Kotler & Armstrong, Principles of Marketing, 2012, p. 48).
General’s Bed and Breakfast will segment the market and employ a customer centric marketing strategy that will focus on individual customers emanating from both local and international markets. The business will, upon expansion, make use of various vehicles of marketing i.e. advertising, promotion and branding. …show more content…
The indirect channel will be used since it makes services widely available. Additionally, from (Q16) (Appendix 2) it can be seen that respondents get information about available accommodation mostly from booking sites like Booking.com and AirBnB.com. Therefore, the services of General’s Bed and Breakfast, will be offered on this sites as well. The provision that these intermediaries charge lies in the range between 10% and 15% of the nominal price (30.00€ in my case). That means that the price offered on these booking sites is foreseen to be in the range between 33.00€ and 35.00€, which is in accordance with Q10 from the questionnaire, i.e. the biggest part of the total number of respondents are prepared to pay between 20.00€ and 40.00€. After the deduction of the fixed percentage provision by the intermediaries, the selling price relevant for the General’s Bed and Breakfast revenue calculation will be actually the one as declared in the projected sales forecast in the revenue decomposition presented on Figure 34, i.e. …show more content…
Choosing the right and quality location is important and even vital for any Bed and Breakfast’s profitability and success, because it affects the ability to draw customers. Therefore, it is very important for the location to be easily reached, convenient and attractive for customers.
The location of Generals Bed and Breakfast is an essential element for every aspect of the business. General’s Bed and Breakfast is located in the settlement of Konjsko/Istok which is one of the most attractive locations in Ohrid. This location is perfect both for tourists who like to spend more time on the beach, as well as those who like to explore the historic monuments, enjoy in the cultural events, or even go mountain hiking. The uniqueness of the location of General’s Bed and Breakfast can be seen in the following:
• a magnificent view on Lake Ohrid;
• closeness of the mountains and the possibility for