Two Recommended Marketing Strategies for Wyndham Surfers Paradise
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Two Strategies for a Hotel
1. The Strategy The strategy recommended for Wyndham Surfers Paradise is the development of an onsite restaurant to serve meals to both resident and non residents, serving lunch and dinner menus of high quality local cuisine. The marketing mix is made up for four elements; the product, price placement and promotion, this starts with addressing a shortfall in the current product offering, which may place the hotel at a disadvantage compared to its competitors.
2. Aim of the Strategy The development of a new restaurant is recommended with the aim of meeting multiple aims. When looking at the way a company can increase business Ansoff has identified 4 potential strategies which may be used, which are based on two variables; the aim of developing new product or attracting new customers. The four strategies are penetration, product expansion, market expansion, or diversification (Hooley et al. 2007). The development of a restaurant will allow the firm to pursue several goals simultaneously increasing revenues and the level of guest satisfaction with the amenities. The new service will supplement the existing service and compliment it; the first benefit will be to increase the hotels revenue as a result of a new service being available, increasing the overall spend per room by product expansion, selling more products or service to existing customers. Many hotels benefit from having excellent restaurants on site as it provides