Bed Breakfast Marketing Plan - 1349 Words

Marketing amp; Organizational Plan: Lester Estate’s Bed amp; Breakfast Inn Marketing amp; Organizational Plan Lester Estate’s Bed amp; Breakfast Inn Discuss the marketing research process for the product/service of the new venture. â€Å"The most effective way to begin is for the entrepreneur to sit down and make a list of the information that will be needed to prepare the marketing plan (Hisrich, Peters, amp; Shepherd, 2010, p. 227).† Market research will be conducted to get a better understanding of the bed and breakfast industry and competitors. The owners will also be able to determine the strengths and weaknesses of the bed and breakfast industry. Gathering market research data will allow Lester Estate’s Bed amp;†¦show more content†¦Therefore, the owners hope to attract beach tourists. Even though the bed and breakfast is forty-five minutes away from Myrtle Beach, there are some tourist wait to make hotel arrangements when they get to the beach. The desired benefit of bed and breakfast will be to give tourist the opportunity to rest and make accommodations for their beach vacation. The other market segment the owners will target during the off season is the local community members. The bed and breakfast will be the ideal place for local business owners to host business meetings and accommodate their out of town guest. The bed and breakfast will also appeal to local patrons who are interested in hosting baby showers, bridal showers, and romantic getaways. Discuss the marketing mix components: product strategy (position, branding), pricing strategy, distribution (marketing channel) concept, and promotional (marketing communication) strategy. The product strategy of the marketing mix will describe the bed and breakfast and the service that will be available to customers. Guests of Lester Estate’s Bed and Breakfast will enjoy the uniqueness and elegance of the facility. They will have access to the different amenities available and 24-hour privacy. The quality service will have guest wanting to come back again for a luxurious and scheduled visit. When considering their pricing strategy, Lester Estate’s owners factored in their competition, margins, and cost to keep theShow MoreRelatedMarketing Strategies871 Words   |  4 PagesMarketing Strategies Marketing strategy is the plan of an organization to market its product. A good marketing strategy enables the organization to get the best marketing results and help it sustain its marketing advantage by using limited amount of resource. This report is the comparison of marketing strategies of three different companies. Lansing Aviation Lansing Aviation is a private company which provides aircrafts on rental to individuals and to flight training. 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