A marketing plan is a written document that can be thought of as set of decisions
about what the company wants to achieve and how it is going to achieve it.
Essentially a marketing plan sets a goal that is accompanied with strategy and
tactics outlining how that goal will be achieved. In general there are two different
kinds of marketing plans; strategic and tactical. Strategic marketing plan is more
general and is focused on long-term goals; usually for a minimum three to fiveyear
term. It is not as detailed as a tactical marketing plan and it deals more with
the external environmental influences and opportunities and less with details of
the company’s marketing activities. Tactical marketing plan differs from strategic
plan in both timeframe as well as content. Typically it operates within a short
timeframe, usually from one year to no longer than three years. (Bowie & Buttle
2004: 316-319)
There are many benefits for a company by having a marketing plan. Especially
with larger companies they are essential but for smaller companies as well. Often
in smaller companies the marketing plan may only exist in the mind of the owner
and there is no written document of the marketing efforts done by the company.
To provide clear direction to the marketing operations that are based on a
systematic and written approach usually benefits both the management and the
employees of the company. Everyone has a clear image of the goal and all the
employees can actively be part of achieving that goal. This eliminates confusion
and misunderstandings and coordinates the resources of the company. (Cooper et
al. 2008: 548-549)
Not having a marketing plan will result in a wide range of possible consequences.
For a hotel this could for example mean a failure to take advantage of potential
growth markets and other new marketing opportunities and demand problems
during low-season periods. These very much affect the profitability of the hotel
and therefore having a marketing plan, even though it does not guarantee success,