How does the price structure address its target market


Assignment:

Promotion And Advertising

Beginning with class session 10, students will research and discuss different ways to promote and advertise the business for which the project 1 marketing plan was created. This project will cover class sessions 10 through 14 and will again be a weekly online class discussion. A final paper for Project 2, summarizing the discussion group contents is at the instructor's discretion.

Search the Internet for hotel web sites. Suggestions are Marriot, Hilton, Motel 6, Sheraton and other large chains. Also include a few smaller, individually owned hotels or motels (example search terms: Tazewell Hotel, bed and breakfast). Be sure to include the URLs in your discussion. Discuss the following:

1. Judging by the web sites what would you say are the target markets of each?
2. How do you think each business is trying to appeal to its target market?
3. How does the price structure, amenities, location and other qualities of each address its target market?
4. Which web sites do you find most effective as a promotion for the business and why?
5. Which web sites do you find least effective as a promotion for the business and why?

Instead of a hotel/motel you could choose a travel/tourism business, club, or any hospitality business other than a restaurant. Restaurants will be covered in the next class session.

Conduct the same exercise as in class 9, but select a restaurant. Discuss the same questions (reprinted below).

1. Judging by the web sites what would you say are the target markets of each?
2. How do you think each business is trying to appeal to its target market?
3. How does the price structure, amenities, location and other qualities of each address its target market?
4. Which web sites do you find most effective as a promotion for the business and why?
5. Which web sites do you find least effective as a promotion for the business and why?

Examine newspapers, magazines and other print media for hotel/motel and/or restaurant promotions. Include also TV, radio, billboard and other promotional materials. Visit a local hotel or restaurant and tour the lobby and/or dining rooms (preferably those from one or more of the web sites you visited). Review the menus, handouts, brochures and other material that may be available. Be sure to give the names and locations the establishments visited in your discussion. Using the material gained discuss the following:

1. How does the establishment compare with its promotions over the various media?
2. Do you think the establishment was well represented in its promotions? Why or why not?
3. What suggestions would you offer to improve the promotions?

Discuss online with your class and instructor:

1. Based on the information you've gathered, the group discussions, the text and your Project 1 marketing plan, how would you promote your business?

2. With both cost and your target market in mind what promotion methods would you use (Internet, print, TV, etc.)?

3. In reviewing the promotions what did you learn about your possible competitors? What ways did you see to differentiate your product from your competitors?

4. Do you think your business as stated in your market plan is still viable? What, if anything, did you see in the competitions' promotions that might reveal a weakness in your market plan?

5. In light of your research do you think your market plan needs to be adjusted with respect to target market, price, location or other aspect? How, if at all, would you change it?

Aside from the kinds of promotions discussed thus far many businesses often promote themselves through a third party or through a mutually beneficial arrangement. An example of third party promotion would be hotels listing through tour companies and/or travel agencies. An example of a mutually beneficial arrangement would be a restaurant located in or near a hotel, each offering a service to the guests of the other. Discuss online with your class and instructor:

1. What third party agencies might you want to use for promotional purposes?

2. What mutually beneficial arrangements might you want to use for promotional purposes?

3. In each consider your target market and the identity you want your business to project. Go online or explore the local area for suitable promotional partners. Does the prospective partner address your target market and work to enhance the image you want your business to display?

4. What strengths might you provide to your partner and what would expect from them?

5. Do you think either is a viable option for your business or would you be better served by "going it alone"? Why or why not?

For the above also consider some overlooked opportunities such as meeting or events planners, institutions such as schools and government offices, clubs, bridal planners and so forth. The latter half of your text will provide you with a number of ideas.

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Marketing Management: How does the price structure address its target market
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