Revising a Marketing plan for Hotels.

A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line.
The Marketing Plan is generally undertaken for one of the following reasons:

•    Needed as part of the yearly planning process within the marketing functional area.

•    Needed for a specialized strategy to introduce something new, such as new product planning, entering new markets, or trying a new strategy to fix an existing problem.

•    Is a component within an overall business plan, such as a new business proposal to the financial community?

On researching the marketing management of luxury hotels in Mumbai the authors found out that every organization takes into consideration several points in revising a marketing plan. Ultimately, a marketing plan is about results, about making your business better. after interviewing the Head of sales and Marketing of various five start hotels in Mumbai the authors came to a conclusion that a marketing plan is revised if any of the following 

1.Forecast of the new financial year: according to Ms. Radhika, Assistant Sales Manager of ITC Maratha a marketing plan will be revised if the organisation is setting a higher target for the next financial and the current plan will not be enough to achieve the target. She added that before revising the marketing plan the organisation will also consider the last year performance and the environmental changes or changes in the market or market situation.

According to Mr Siddesh Phadnis, Asst Sales Manager, Trident Bandra Kurla Complex,a marketing plan has to be revised or reviewed if there is a new inventory or competition in the market. he added that if an organisation is planning to expand or increase its room inventory they should consider the current market plan that is carried out by the hotel and improve it further according to the current potential.

 Mr Nabeel Pabolo, Sales Manager at Four Seasons Hotel pointed out that the marketing plan is revised and has to be reviewed depending on the economic stability, budgets for the current financial year, Property expansion plan, global dynamics, inflation, government stability and so on.

The authors found out there are several many factors which have to be considered before revising a marketing plan. A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line.