BOARD BRIEF PART A 2
Running Head: BOARD BRIEF PART A 1
Board Brief Part A – Framing the Problem/Opportunity
JWI 599: Business Analytics and Capstone
Joseph S Anderson
October 24, 2021
Board Brief Part A – Framing the Problem/Opportunity
Market conditions overview
As you all know, we have witnessed several challenges in the industry since the pandemic was reported. The pandemic has negatively affected how we relate with our consumers while allowing us more opportunities to overcome future customer demands. Since the pandemic was reported, our business has witnessed a significant drop in revenue. While a similar trend has been witnessed across the other stakeholders in the industry, there is a need to create a turnaround framework to ensure maximum returns. As observed, the industry has been affected by the pandemic, with numerous firms exiting the market. While numerous interventions have been developed, including creating vaccination mechanisms, the pandemic has affected how people conventionally interacted with the hotel and hospitality sector.
These changes have affected how the firm delivers consumer value throughout the various markets. One trend that has been witnessed in the industry is the revolution of how businesses are dealing with their consumers. With the slow resumption of services in the global platform, we are placed strategically to acquire value through improved product delivery. Hyatt, which is one of our major competitors, is leveraging technologies to enhance the recovery processes. However, we will focus on the guest experience in creating an accommodating environment for enabling better relationships with our consumers (Marriot International, 2021). We are focused on enhancing the loyalty program to improve consumer relationships and experience within the international markets. We will leverage our strong brand name and position in the international market to enhance communication and collaboration with our consumers.
However, our ambitions may be affected by the negative publicity which the firm has sent over the years. Regardless, the sales and marketing teams will redefine how the firm relates to the consumers, focusing on capturing value from the shifting demographics. Further, the firm’s success will depend on ventures into related areas like the Airbnb sector. This sector will ensure maximum guests’ privacy and a home-like experience. These elements will ensure maximum market relationships and consumer satisfaction.
One of the business’s challenges over the past few months is poor reception within the industry. Negative publicity has affected the total sales made hence revenues. The firm must redefine its market relationships to create a turnaround point for its revenue and customer perceptions. Since the pandemic was reported, the firm’s financial performance has deteriorated, with competitors earning high market shares. Therefore, the primary opportunity to enable the firm to communicate better with its consumers while enhancing sales is developing a reliable marketing plan. The plan will deliver a reliable campaign to enhance the overall relationships between the consumers and the firm. The marketing plan and campaign will focus more on improving the consumer relationships with the firm while understanding the factors that will lead to better outcomes concerning operational efficiency (Nyangwe & Buhalis, 2018). The firm’s main intentions through this initiative are to create a reliable framework for improving profitability through strategic brand recognition and reception.
This problem will be addressed by evaluating the market reception trends within the industry. The firm will gauge the success rate of the plan by looking at the total sales made after its implementation, and new consumers served customer perceptions through feedback collection, and the revenue changes. These metrics will show the effectiveness of the initiative in responding to the current organizational needs and demands. The plan will involve numerous players like the CEO, marketing department, human resources, and finance. These sectors will play a crucial role in providing resources like finances, human capital, market data, and consumer receptions. Further, the firm may engage the consumers during the preliminary research processes. These stakeholders will collectively provide essential insight into the best strategies to enhance corporate success in achieving the desired goals. Firms have adopted measures to enhance their market reception. Companies like Nike, Apple, Red Bull, and Pepsi have been successful in implementing such strategies. These firms created emotionally engaging marketing campaigns, as seen in the case of Nike and its “Just Do It” plan (Giles, 2020). These plans have offered the ideal framework for improved connection between the players and the consumers. It is essential to mention that these firms succeeded in accomplishing their goals through strategic alignment and consumer relationships. The firm in this context can achieve its goals through such strategies.
Giles, E. (2020). 25 of the Best Marketing Campaigns of All Time That Spark Inspiration. Blueladz. Retrieved from https://www.bluleadz.com/blog/20-of-the-best-marketing-campaigns-of-all-time
Marriot International. (2021). 2020 Annual Report. Marriot International. Retrieved from https://marriott.gcs-web.com/static-files/b82978a6-9d28-4e38-9855-fc4ae2cebe11
Nyangwe, S., & Buhalis, D. (2018). Branding transformation through social media and co-creation: lessons from marriott international. In Information and Communication Technologies in Tourism 2018 (pp. 257-269). Springer, Cham.
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