Posted: February 5th, 2015

Hospitality Strategic Marketing

The marketing section of a business plan;

HOSP 3050:  Hospitality Strategic Marketing

Project Purpose:  Students will develop the marketing section of a business plan.  This plan can either be for a totally new business. This will be a professional document, suitable for using as a request for funding from a bank or investors.
I.  Written Component of the Business Plan
Your business plan should include the following sections, suggested lengths are included.  All sections should have the subheadings as listed.

d.  Research (3-4 pages) your goal in this section is to show that your business idea is a good one and that you have researched its viability!
Research Plan (what did you want to find out, usually based on demand, demographics, price, etc)
Marketing Research Conducted (survey, demographic research etc)
Research Findings (these can be made up for a survey, but your demographic study should be real)

e.  Market Analysis (3-4 pages)  your goal in this section is to show that there is a market for your business!
Target Markets and their Characteristics (please identify primary, secondary and tertiary markets)
Demographic Information (you need to demonstrate that there is sufficient number of people in your area that fit your target market, pull this information from marketing research section)
Trends and Growth Potential (show that market is growing, not dying)

f.  Products and Related Services (4-5 pages)
Product/Service Description
Facilities Description
Proprietary Features (if you have any, it is not required that you do)
Future Development Plans

g.  Competitive Analysis (4-5 pages) you may do this section in chart form if you would like.
Competitor’s Profile (location, years in business, any background info. helpful to reader etc)
Product/Service Comparison
Market Niche (differentiation and distinctive competency)
Comparison of Strengths and Weaknesses

h.  Pricing (1-2 pages)
Prices and Basis of Strategy

i.  Promotion (3-4 pages) identify your promotion plan to attract each target market.  Please list the target markets in order and outline the promotional methods you plan on using.  Your methods may include, but are not limited to the following:
Advertising
Public Relations
Promotions
Sponsorship
(any additional)

j.  Location & Distribution (1-2 pages)
Location
Channels of Distribution

k.  Management & Ownership (3-4 pages)
Key People & Experience
Ownership Distribution
(include resumes of principle managers)

l.  Schedule & Strategic Planning (1-2 pages)
(include schedule for project completion)

m.  Financial Data and Projections (4-6 pages)
Funding Request
Projected Income Statements for 3 years

Appendices

III.  General Guidelines
Your written project must be submitted in a three ring binder with tabbed sections.  Projects are due at the beginning of class Monday 16th of February.  Projects submitted after this time will have 25 points a day deducted for lateness.  No partial projects will be accepted for grading.