Question

The owner of a small hospitality and travel business has asked you for some help in developing marketing objective. What general guidelines would you suggest for objective setting? Detail how you would help the owner develop these objectives. Develop a set of hypothetical objectives for the business.

Answer 1

The general guidelines that would suggest for objective setting is that first check who is your target audience, what are their needs and the objective has to be in sync with their requirements then only the product or service that they are trying to seek would attract the relevant audience. The objective should be measurable as well as relevant in the sense that it should be achievable within a specific time frame.

I would help the owner in the following manner:

-Understand the scale of the business

- Tap the relevant target audience

- Check t haying capacity of that target audience

- Create measureable goals

- Create a time frame in which we want to achieve those goals.

- Relevancy of the goals also to be measured.

Hypothetical objectives could be: To increase the revenue percentage by 20% this financial year by tapping the customers of older age group.

Another could be: To increase the rating that customers give on travel portals from which rooms are booked.