Ashford Bus 421 Final
Marketing Plan for the Courtyard Fredericksburg
Janet Smith
PR/Marketing Capstone BUS421
Vicki Long
January 30, 2012
Marketing Plan for Courtyard Fredericksburg
Executive Summary
The Courtyard brand is not just a product that provides a place to sleep, meet or eat but a total system that guests buy. The system is made up of everything we do. Everything Marriott does add or detracts from the value of the brand. The Courtyard by Marriott brand, although a strong choice among travelers, has seen a decline due to the lag of keeping with the technological advancements as featured with their main competitors, Hyatt Place and Hilton Garden Inn.
The objective for 2012 is a need to support the brand’s overall objective of regaining loyalty by improving perceptions and considerations of the brand. This will be done by driving the Courtyard product to the business travelers and with the personal travel market segments. Defining the considerations will help to “establish objectives for the marketing plan that are specific, time-defined, and measurable; realistic but challenging; consistent with the organization’s mission and goals; consistent with resources and core competencies; and appropriate for the external environment” (Wood, 2008 pg 79). These objectives are necessary in helping to keep the Courtyard Fredericksburg the elite choice in its current market.
TABLE OF CONTENTS 1. Executive Summary …………………………………………………………………….3 2. Situation Analysis ……………………………………………………………………....6 2.1 Background on Organization ………………………………………………...……….6 2.2 Market Needs ………………………………………………………………...……….7 2.3 Market Growth ……………………………………………………………...………...7 2.3.1 Market Demographics …………………………………………...……….…8 2.3.2 Market Trends ………………………………………………………..……..9 2.3.3 Market Growth …………………………………………………………..….9 2.3.4 Microenvironment …………………………………………………………10 3. The Company ……………………………………………………………………………10 3.1
Janet Smith
PR/Marketing Capstone BUS421
Vicki Long
January 30, 2012
Marketing Plan for Courtyard Fredericksburg
Executive Summary
The Courtyard brand is not just a product that provides a place to sleep, meet or eat but a total system that guests buy. The system is made up of everything we do. Everything Marriott does add or detracts from the value of the brand. The Courtyard by Marriott brand, although a strong choice among travelers, has seen a decline due to the lag of keeping with the technological advancements as featured with their main competitors, Hyatt Place and Hilton Garden Inn.
The objective for 2012 is a need to support the brand’s overall objective of regaining loyalty by improving perceptions and considerations of the brand. This will be done by driving the Courtyard product to the business travelers and with the personal travel market segments. Defining the considerations will help to “establish objectives for the marketing plan that are specific, time-defined, and measurable; realistic but challenging; consistent with the organization’s mission and goals; consistent with resources and core competencies; and appropriate for the external environment” (Wood, 2008 pg 79). These objectives are necessary in helping to keep the Courtyard Fredericksburg the elite choice in its current market.
TABLE OF CONTENTS 1. Executive Summary …………………………………………………………………….3 2. Situation Analysis ……………………………………………………………………....6 2.1 Background on Organization ………………………………………………...……….6 2.2 Market Needs ………………………………………………………………...……….7 2.3 Market Growth ……………………………………………………………...………...7 2.3.1 Market Demographics …………………………………………...……….…8 2.3.2 Market Trends ………………………………………………………..……..9 2.3.3 Market Growth …………………………………………………………..….9 2.3.4 Microenvironment …………………………………………………………10 3. The Company ……………………………………………………………………………10 3.1