VI.Marketing Plan
This Section's Contents
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
The Marketing Plan describes the type of brand [Company Name] seeks to create and the Company’s planned promotions and pricing strategies.
The [Company Name] Brand
The [Company Name] brand will focus on the Company’s unique value proposition:
- Offering rooms suited for families and business travelers and services
- Offering a central location in the downtown area
- Providing excellent customer service
Promotions Strategy
[Company Name]expects its target market to leisure travelers mainly from the U.S and surrounding locations in the Midwest. The Company’s promotions strategy to reach these individuals includes:
Phone Prospecting
[Company Name] will assign salespeople to contact area corporations to arrange for bulk corporate rates for their visitors depending on the volume of visitors they will have.
Public Relations
We will contact all local and regional area newspapers and television stations to tell them about the Bed and Breakfastopening and unique value proposition of [Company Name].
Advertising
[Company Name] will initially advertise on travel websites, which are frequently being used these days to book travel due to their ease of use and reviews.
Ongoing Customer Communications
[Company Name] will maintain a website and publish a monthly email newsletter to tell local corporations and past customers about promotions and events.
Pre-Opening Events
Before opening the Bed and Breakfast, [Company Name] will organize pre-opening events designed for prospective national customers, local customers and press contacts. These events will create buzz and awareness for [Company Name] in the area.
Pricing Strategy
[Company Name]’s pricing will fluctuate based on the season and occupancy percentages using a computerized yield management system, but pricing will always place the Bed and Breakfast in the mid-range, below luxury offerings and above Bed and Breakfasts and motels in the area. Customers will feel they receive great value when patronizing the Bed and Breakfast.
