1

Name - Htet Kaung

Section - (9)
Date - 9.1.2024
Lecturer Name - Tr. Theresa
Assignment Title - Chapter 2
Word Count - (1,446)
 2

1. What is the ideal time frame for a marketing plan?

The ideal time frame for a marketing plan often ranges from six months to a year,
allowing for strategic planning, implementation, and assessment of results. However, it can
vary based on industry, goals, and market dynamics.

2. TRUE or FALSE? A marketing plan outlines how you will gain and retain customers.

TRUE. A marketing plan typically includes strategies to acquire and keep customers,
outlining the approach to attract, engage, and maintain a customer base.

3. A marketing team at The Fountainhead Hotel is assembling information about the

property, the competition, and marketplace opportunities. What best describes the step
reached by the team in developing a marketing plan?

The marketing team at The Fountainhead Hotel is likely in the "Analysis" phase of
developing a marketing plan. To proceed, they should thoroughly research and analyze
information about the property, competition, and marketplace opportunities. This involves
gathering data, identifying trends, and understanding the target audience before moving on to
strategy development.
In the analysis phase, the marketing team should: SWOT Analysis: Assess the hotel's
Strengths, Weaknesses, Opportunities, and Threats to understand internal and external factors.
Competitor Analysis: Examine competitors' strengths, weaknesses, and strategies to identify
areas for differentiation. Market Research: Collect data on customer preferences, industry
trends, and market demands to guide decision-making. Customer Segmentation: Identify
target market segments based on demographics, psychographics, and behavior to tailor
marketing strategies. Positioning: Determine how The Fountainhead Hotel wants to be
perceived in the market compared to competitors. Marketing Objectives: Establish clear and
measurable goals that align with the hotel's overall business objectives.
 3

4. What are the three ways to determine how a property’s performance compares with
competitors?

Compare with Benchmarks: Look at how things like how many people are renting,
how much money it's making, or how well it's maintained stack up against what's typical in
the industry. Check the Local Market: See how the property fits into the local real estate
scene. Look at what other properties are selling or renting for in the area and see how yours
measures up. Look at Finances: Check the money side of things. See how much profit it's
making, how expenses add up, and compare these financial details with similar properties.

5. What type of important marketing information do market share and fair share calculations
provide? What type of important marketing information do market share and fair share
calculations provide?

Market share tells a company how much of the market it has. It helps in planning and
deciding where to focus resources. Fair share calculations compare this to what a company
could have, helping find areas for growth. Both of these things together give a good picture of
what's happening in the market.

6.
Hotel 1 Number of Rooms Available Rooms Occupancy Percentage Room Night Sold
Hotel 1 150 54750 78% 43705
Hotel 2 200 73000 70% 51100
Hotel 3 250 91250 74% 67525
Hotel 4 300 109500 60% 65700
Total 900 328500 227030
Give the data above, which of the following properties has the highest market share?
 4

Answer,
For Hotel 1

Market Share = x 100

Market Share = x 100 ≈ 19.25%

For Hotel 2

Market Share = x 100

Market Share = x 100 ≈ 22.48%

For Hotel 3

Market Share = x 100

Market Share = x 100 ≈ 29.72%

For Hotel 4

Market Share = x 100

Market Share = x 100 ≈ 28.97%

Hotel 3 is the highest market share.

7.
Hotel 2 Number of Rooms Available Rooms Occupancy Percentage Room Night Sold
Hotel 1 150 54750 78% 43705
Hotel 2 200 73000 70% 51100
Hotel 3 250 91250 74% 67525
Hotel 4 300 109500 60% 65700
Total 900 328500 227030

Give the data above, which of the following properties has the highest fair share?
 5

Answer,
For Hotel 1

Fair Share = x Total Room Nights Sold

Fair Share = x 227030 ≈ 37838.89

For Hotel 2

Fair Share = x Total Room Nights Sold

Fair Share = x 227030 ≈ 50451.11

For Hotel 3

Fair Share = x Total Room Nights Sold

Fair Share = x 227030 ≈ 63063.33

For Hotel 4

Fair Share = x Total Room Nights Sold

Fair Share = x 227030 ≈ 75674.44

Hotel 4 is the highest fair share.

8.
Hotel 3 Number of Rooms Available Rooms Occupancy Percentage Room Night Sold
Hotel 1 150 54750 78% 43705
Hotel 2 200 73000 70% 51100
Hotel 3 250 91250 74% 67525
Hotel 4 300 109500 60% 65700
Total 900 328500 227030

Given the data above, what is the market share and fair share for Hotel 4?
 6

Answer,

Market Share = x 100

Market Share = x 100 ≈ 28.97%

Fair Share = x Total Room Nights Sold

Fair Share = x 227030 ≈ 75674.44

9. What tool would managers use to determine the current guest base and assess the decline
or growth of business from market segments?

Hotel managers use a Property Management System (PMS) to keep tabs on guest
information, reservations, and financial transactions. PMS tools like Opera or Cloudbeds help
them see which types of guests are staying, how often, and how much they're spending. This
information guides decisions to improve services and attract more guests, ensuring the hotel
stays competitive and profitable.

10. What type of tool would managers use to determine the market segments the property is
currently attracting?

Managers of hotels use surveys from guests, check online reviews and social media,
and analyze booking data to figure out who their customers are and what they like. They also
look at what other hotels are doing and use systems to manage customer info. This helps
them understand their guests better and make improvements or changes based on what guests
want.
 7

11. True or False? All markets with potential sales should be targeted equally by written
objectives for each revenue center.

Imagine you have different places to sell your stuff. Instead of treating all places the
same, it's smarter to focus more on the places where you can make more money and match
your business goals. This way, you use your time and effort wisely and have a better chance
of succeeding.

12. “Increase room nights from the senior-citizen market during June while maintaining an
average room rate of $59.” What is wrong with this marketing objective?

The marketing objective lacks specific targets, such as not stating how many
additional room nights you aim to achieve from senior citizens in June. Additionally, it
doesn't outline strategies or plans for maintaining the $59 average room rate. Adding specific
numerical targets and providing details on how you plan to maintain the desired room rate
would improve the clarity and effectiveness of the marketing objective.
.
13. What is the principal advantage of zero-based budgeting?

The main advantage of zero-based budgeting is its emphasis on a thorough review of

expenses, starting from scratch each budget cycle, ensuring all costs are justified and
promoting cost efficiency.

14. The director of sales produces a report that details the number of room nights sold for
each market segment by salesperson. This report is a critical part of which steps in the
marketing planning cycle?

The sales director's report is super important when the team is putting their plans into
action (doing what they decided to do) and checking if those plans are doing well or not.
That's why it's a big deal during the "making it happen" and "checking how well it's going"
parts of the marketing plan.
 8

15. What type of marketing budgets ensures that the marketing efforts will be funded at the
level required to accomplish the marketing objectives and implement the action plans
developed by the marketing plan?

A well-defined and realistic marketing budget aligns with the overall business goals
and ensures that the marketing efforts are adequately funded. This budget should be based on
a thorough analysis of past performance, industry benchmarks, and the specific objectives
outlined in the marketing plan. Regular reviews and adjustments are essential to adapt to
changing circumstances and maximize effectiveness.