Planning + Execution=Success Business-Marketing-Action Plans S.W.O.T Analysis

Strengths-Weaknesses-Opportunities-Threats Comp Set Analysis vs. Market Analysis

Business & Marketing Plans

Everything goes back to your overall Business Plan• Marketing Plan + Action Plans x Business Plan = Overall

Goals• What are your Goals? Are revisiting them regularly?

(Monthly) • Team Goals: What would you like to see the hotel

accomplish?• Individual Goals: What are you working for?

• Your every day routine is a component that plays a HUGE ROLE

• How are you planning, organizing, communicating & branding?

Business Plan OutlineSummary Business concept  Current situation  Key success factors  Financial situation/needs

Vision Vision statement  Milestones

• What is your Mission Statement? • Keeps you focused & organized• Revisit (Daily, Weekly, Monthly)

• Know your current situation • What’s realistic to accomplish?

Envision Success “Constructive Daydreaming”

Overall Game Plan Vision-see ‘big picture’

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Strategy Implementing strategy

EXECUTION!

Market analysis The overall market  Changes in the market  Market segments  Target market and customers  Customer characteristics  Customer needs  Customer buying decisions

Competitive analysis Industry overview  Nature of competition  Changes in the industry  Primary competitors  Competitive products/services  Opportunities Threats and Risks

Comp Set

• Know your Surroundings • Know your Competition • Know your Market

Attractions• Know your Key Demographic

Marketing and Sales Marketing strategy  Sales tactics 

Guerilla Marketing Advertising 

Partnerships Promotions/Incentives  On-Line Presence

3rd Party Websites

Action Plans: (Revisit Monthly) Top 4-5 Target Market Groups Goals: S.M.A.R.T

Aggressive but Attainable Build off of previous year

Time Sensitive Revenue & Time Specific ‘X’ Amount Rooms (how?)

Accountability Who is responsible? Why? Date to be completed Delegate to others=Team Effort

Action Plans (Coralville Example) Leisure

1-4 Guests (Walk-In Traffic) Word of Mouth, Market Trends, Advertising

Corporate Negotiated Rates based on LOS & Frequency Own your area! Businesses within 10-20 mile radius

University of Iowa/UIHC (Hospital) Key Departments of Interest Partnerships, Referrals & Constant Hotel Needs

Government American Legions, VA Hospitals, Fed Rooms, D.O.T

Groups & Tours Sporting Events in the Area (Annually) Bus Tours-Companies