Step One: Choose a Hospitality Operation: Choose a specific “real life” hospital

Step One: Choose a Hospitality Operation: Choose a specific “real life” hospitality business (i.e. Snoqualmie Lodge, Washington Convention Center, Yakima Convention Center, Canlis, The Palace Cafe). Step Two: Market Segmentation and Targeting: Remember that “no area of the marketing plan surpasses the selection of the target markets in importance. If inappropriate target markets are selected, marketing resources will be wasted” (Kotler, , p. 547). Given the importance of identifying and selecting target markets. To begin, identify and describe, some of the segments in the overall market for this business (identify at least three). Now, from the segments you identified, select one target market this hospitality operation has targeted and describe this target market based on the segmentation variables : + +Geographic – country, region, state, MSA + Demographic – age, income, family size + Psychographic – lifestyle, hobbies, interests + Behavioral – frequent user, trip behaviors, occasion usage rate, user status, loyalty status + Benefits Sought – price, location, convenience? 1. What is the profile of this target market? Describe the target market for this business, using at least three of the segmentation variables above. 2. Why is this an attractive segment of the market to pursue? 3. Some hospitality operations want to develop a business with “something for everyone”. Why is this a dangerous strategy? Step Three: Market Segmentation Strategy: After specific target markets have been identified, the marketing managers must begin to develop broad marketing strategies. In general, there are three segmentation strategies that can be applied: + Mass-market (undifferentiated) + Differentiated + Concentrated 1. What type of market segmentation strategy does this hospitality operation use? 2. Why do you think this hospitality operation has chosen this market segmentation strategy? Step Four: Positioning Strategy : Once a company has chosen its target-market segments, it must decide on a value proposition—how it will create differentiated value for targeted markets and what positions to occupy in those segments. A product’s position is the way the product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products. For example, In the fast-food hamburger business, Wendy’s promotes never-frozen meat, hot off the grill; Burger King is known for its flame-broiled food; and Smashburger smashes its burger on the grill to sear it. Marketers can follow several positioning strategies. They can position their products based on: + Physical attribute + Service + Personnel + Location + Image 1. Assess the marketing mix for this hospitality operation. Based on your observations, what positioning strategy has this business chosen? 2. Has this business been successful implementing this positioning strategy? Why or why not?