Marketing Management Entrepreneurial Marketing

Question: Discuss about the Marketing Management for Entrepreneurial Marketing. Answer: Introduction In this report, the Accor group are dedicated to a new Sofitel hotel. The Sofitel hotel is located in Darling Harbor region of Sydney CBD. The Accor group operates in ninety-four countries, and it is a French multinational hotel group. Headquarter is situated in Paris, France. The group owns three thousand and seven hundred hotels on five continents. The Accor group needs a marketing plan. The marketing plan should include a list of actions. Besides, a marketing plan without a strategic foundation will be little use to business and not efficient. Here, the marketing plan includes only macro environmental analysis along with SWOT analysis. However, Sofitel has marketing plans which is useful for the stakeholders. The company is more concerned with the objectives of becoming worldwide reference in international luxury hotels amongst others. The organization will turn into the principal European luxury lodging brand. Besides, the hotel has worked steadily to rethink every component of the brand, with an exceptional attention on innovative luxury model along with the offering of drinks and food, advancement and outline alongside creating one of a kind spas. In addition, the new Sofitel plans the make all hotels a contemporary and lavish ones and resorts on the worlds most appealing destinations. Macro Environment PEST Analysis Political Factors The key issues regarding the political factors are the danger of terrorism, political climate, and international relations (Strauss, 2010). These factors can affect the Accor group. If in the tourist places, there are terrorist attacks then the tourist might fly away from that location leading to loss of business. Therefore, Accor group must look at this matter very carefully to prevent loss of customers. Such attacks can also lead to injuries and deaths of several tourists which will become a challenge for the organization. Still now, Accor group have not faced any terrorist attacks because they have good relation with EEC country (Dollard, Osborne, Manning, 2012). The organization believes in giving and take policies, and they are doing their business in this way all over the world. Technological Factors Based on Oriental rental service, the technology can have an enormous impact on hotel businesses. Accor group needs to improve the technical service to customers since the level of customer satisfaction is increasing day by day (Ramachandra, Chandrashekara, Shivakumar, 2010). The client satisfaction increase because people are getting their products whenever they want. For example, they can book hotels by online. Therefore, Accor group must facilitate customers with online booking facilities. The official website of this hotel must have updated information about the hotel and its services. Aside that, the electronic media card is becoming more demandable. Social Factors Currently, the organization is delivering excellent services to customers. The company is utilizing seven languages via online systems. On the other hand, maps and graphics are also tallying significance to the booking experience. In the organization, the female workers are increasing. Accor group is working hard to train their employees for the advancement of the society. Apart from these, the company is also providing the franchise with added value as well as human resource services. The particular organization will endure admiring professional and cultural differences (Tresidder Hirst, 2012). Economic Factors Between the year 2006 and 2012, Accor group has become a more profitable organization. The economic factors are a huge concern to Accor group because the organization is highly influenced by cost, profits, prices and demands. Apparently, the most influencing factor of this organization based on the economy is merger and acquisition. Research says that this organization has made a huge profit whenever they merged with another organization. The company can accomplish their objectives because of merger and acquisition strategy. SWOT Analysis Strength From the research it has been found that one of Accor key advantage is its high brand recollection. The organization has demands for midscale, upscale along with economy lodging. It covers a wider market segment. On the other hand, internal resources to any organization are its strength which provides an advantage. For Accor, the most valuable power are probably to be insubstantial of reputation, superior customer service, and corporate culture (Mayrhofer, 2012). The company has a keen interest to cover different regions and categories stable cash flow prospects. Besides, it has Sofitel which is a prestige hotel brand in France and other cities in the world. Opportunities It has been discussed in the strength of Accor group, that Accor makes a huge profit by following merger and acquisition technique. Hence, merger and acquisition strategy is their primary opportunity. Also, the organization has market leaders who develop in partnerships with major enterprises. Aside that, different ideas in business is another opportunity for Accor group (Sethna, Jones, Harrigan, 2013). Advertising and online booking of hotels are their competitive advantage. The website must be built incredibly stylish so that more customers are attracted to it. New technology helps them to increase their sales. Threat The operations of Accor services and hotels are spread in the entire world with the goal that they need to face to dangers of fluctuations in foreign currency because around sixty-six percent of its income originates from universal operations. During the past, the revenue of Accor group was severely influenced because of unfavorable fluctuations in foreign currency. The organization has some serious rivals which are a threat to them (Solnet, 2012). For example Marriot International, Hilton Group plc and Hyatt organization. These opponents' attempts to beat the unfavorable business sector and financial condition are another dangers besides be evaluating weights which will influence the edge of the company. Weakness During the year 2010, the weakness of this particular business has its non-strategic business. The company is losing their brand because they were more concerned with non-strategic business. Recently, the hotel group has increased their cost twice than that of other competitors. It may be a risk to the business, because when demand is high, then the customer will move to other hotels because of moderate price. The development of technology is not their weakness (Christou, 2011). Therefore, Accor must improve competitive advantage according to the technology rather than increasing hotel rates than others. Conclusion The entire report is based on the marketing plan of Accor group. Initially, the report starts with an introduction followed by PEST and SWOT analysis. This two study is significant for the organization since it analyses the current situation of the company so that Accor can quickly implement their marketing plan and attain competitive advantage. In SWOT analysis, the strength, weakness, threat and opportunity of Accor group is discussed. From the above report, it is concluded that Accor group can make high profits whenever they utilize merger and acquisition strategy. It also helps to build strong relationships with other hotels. References Christou, E. (2011). Exploring Online Sales Promotions in the Hospitality Industry.Journal Of Hospitality Marketing Management,20(7), 814-829. https://dx.doi.org/10.1080/19368623.2011.605038 Dollard, M., Osborne, K., Manning, I. (2012). Organization-environment adaptation: A macro-level shift in modeling work distress and morale.Journal Of Organizational Behavior,34(5), 629-647. https://dx.doi.org/10.1002/job.1821 Mayrhofer, U. (2012).Marketing international. Paris: E conomica. Ramachandra, K., Chandrashekara, B., Shivakumar, S. (2010).Marketing management. Mumbai [India]: Himalaya Pub. House. Sethna, Z., Jones, R., Harrigan, P. (2013).Entrepreneurial Marketing. Bingley, UK: Emerald Group Pub. Solnet, D. (2012). 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