Luxury Vibes Project Marketing Strategy Plan

Marketing Strategy Plan Project

Introduction

Luxury Vibes is a bed and breakfast Inn located in Sunny, San Diego, California. It is located in downtown San Diego for easy accessibility. There are luxurious beds and breakfasts within the town, but we aim to offer our clients the most incredible experience by making them feel that they are staying with the family. Having been launched recently, the organization has ten rooms, a luxurious spa, and a swimming pool. Each room has its unique decoration to ensure that our clients get a unique experience each time they visit.

The dining area is spacious, and the cuisine is our pride and joy because we have hired the best chef in San Diego. Every morning, our guests get an abundant buffet that offers them a variety of healthy homemade breakfasts. These include; yogurt, cereals, juices, cakes, fruits, and marmalade. However, the breakfast can be personalized upon the request of the client. The guest can later go to the spa for a massage or skincare, while those who love to swim go to the pool to enjoy the favorable weather of San Diego. Luxury Vibes also has Jet Skis, paddleboards, and Jeep Wrangles that guests can rent during their stay.

Mission and Vision Statement

Luxury Vibes Inn's mission statement is to provide genuine and heartfelt hospitality, which will engrave a unique experience in the guest's mind and heart. It also aims to provide a stunning, dynamic, and carefully layered environment that will give the guests a tailored experience, bridge connections between them to the local perspective through collaborations, and even enhance personal travel journeys. Moreover, the organization's vision is to become the first choice place for guests by creating everlasting memories through unmatched personalized services.

The company has some financial and non-financial goals. Some of its financial goals are ensuring that it makes more profits annually to open other branches in other parts of the USA and beyond. The company is currently only in San Diego, and it wants to open other branches to achieve its vision of becoming the guests' first choice. It also hopes to partner with other organizations, which will help it grow. These organizations can invest in the company and improve the services offered, further attracting more tourists. The non-financial goals are that it aims to train its employees by giving them the existing educational opportunities to improve their capabilities and skills. The other non-financial goal is enhancing customers' satisfaction and ensuring that all the customers are satisfied with the place's services.

Product Description

The company has several products. It has a bed, and it provides visitors with breakfast. The breakfasts represent different cultures worldwide since the inn is visited by most tourists visiting San Diego. Nevertheless, the place also offers a swimming pool where its visitors can relax, and it has a luxurious spa. It could be categorized as a five-star that provides its guests with international standards that would make them want to revisit the place.

Moreover, the place plans to start offering its clients beverages such as coffee and other drinks as part of the refreshments as they swim and wherever they please. It has been accepted that most clients go there during the summer when there is a lot of heat, and providing them with beverages would make them feel happy and refreshed (Xu et al., 2021). The people in the segment have specific needs, which will prove that the product is satisfying. People want to feel happy and stress-free all the time, and in case they are going through a dark moment in their lives, they will try hard and overcome it. They organize road trips, hikes, mountain climbing, lunch dates, and other activities. It will be packaged in attractive containers that attract the customer segment. They may even go for a picnic at the inn where they can drink the beverages from our company. The product gives them a refreshing and happy feeling. If it brings them closer, then the product is satisfying. The youths need love, attention, and fun, and if we make our beverage the perfect drink that they can share as they interact with each other and feel great, it would be satisfying.

Market Segmentation

Luxury Vibes' target marketing strategy is based on becoming a destination choice for most people looking for a place to rejuvenate and unwind for a few days. The specific target markets that we will pursue are local and international tourists, business owners, and local people (Lee, Reynolds, & Kennon, 2003). Tourists are our primary target because most people visit San Diego because of the beautiful tourist attractions. Despite the majority of the luxurious hotels being located on the sandy beaches of California, some tourists prefer staying in San Diego town because they can easily access numerous tourist sites.

The people of San Diego are also embracing tourism. Hence, they stay in hotels with their families to have a different experience from their homes. Another specific segment that we will appeal to is the business owners in San Diego. The town is a busy business area as several offices and businesses are located there. Some business owners are yet to establish their offices within the city; hence they host their business meetings in hotels. The Luxury Vibes has a conference room where business owners can conduct business meetings. If the business guests say out of town, they are hosted at our bed and breakfast hotel. The local people in San Diego can also host their baby showers, bridal shower, and romantic getaways at the hotel.

Lifestyle and behavior of the segment.

San Diego is a beautiful city with an idyllic climate and many world-class family attractions. It is among the most fantastic cities in America and is driven by young citizens (Stor America, 2020). Thus, the tourist who primarily visits the country is young people who want to experience the city. These are also financially stable; hence affordability is not a challenge. All that they need is to have a memorable experience.

That is the crucial reason for developing the B & B in town. Luxury Vibes offers quality accommodations, and the rooms are also luxurious and have comfortable beds. The rooms are decorated differently so that the clients can have an array of themes to select while picking up the rooms. Having only ten rooms was an initiative not to have the hotel crowded. The majority of these tourists do not like crowded places because they want their needs to be attended to thoroughly. They also want a quiet space for relaxation away from their busy life schedule. The weather is also great for swimming, and because the tourist wants to enjoy the weather, the Luxury Vibes offers them a huge pool and a beautiful garden for relaxation. Young tourists also like to be in places with several outdoor activities.

They will choose the Luxury Vibes because of their central location; hence they can access numerous outdoor activities. San Diego is also a diverse city, so business is thriving in the city. As a result, there are multiple business owners in the town, and they like to hold their business meetings in private and luxurious areas. The local people of San Diego also like celebrating their special events like birthdays and bridal showers.

Introducing the organization regionally.

We will introduce the organization regionally because we aim to monitor its performance before expanding and opening other branches across California. Being an individually owned business with no investors, we do not have enough finances to operate nationally. The reason is that starting up a Bed and Breakfast venture is expensive. We aimed to give our clients a luxurious experience; hence we resorted to starting with a few rooms and an expansive dining area with other significant amenities.

Operating regionally will also help us determine if we have been able to attract our specific segment and their varied needs (Malkov, 2015). As a result, opening branches to other regions will be easier as we have already established a considerable customer base. Regional operations will also help identify weaknesses and take advantage of the available opportunities. Another reason for introducing the venture regionally is for easy marketing and advertisements. Through the regional reviews, we will be able to attract tourists internationally.

Benefits of Luxury Vibes.

Luxury Vibes is beneficial to our specific market segment, which entails tourists, business owners, and local people. The reason is that there are numerous hotels within the city, but none of them treats them like family. Our tourists, primarily young people, like to enjoy their vacation but miss the family setting. The tourists also want a luxurious experience, and that is why it has Jet Skis, paddleboards, and Jeep Wrangles that guests can rent during their stay. The hotel is also quiet; business owners can host their meetings without distractions.

We have also installed projectors in the conference rooms; business owners can also present when needed. Because of its proximity to offices, business guests who live out of town can also stay at the hotel. This saves the business owners the cost and stress of looking for a place of accommodation for their guests and transport to the offices. The spacious garden lets the locals host their celebrations in the bed and breakfast hotel. They make reservations and give specifications of what they would like their event to look like. We have external suppliers we hire for such events because we are still starting up.

Reasons for the segment being optimal for the business.

Tourism was the core reason we invested in the bed and breakfast venture. However, the Covid-19 pandemic negatively impacted the tourism sector. Hence we opted to be diverse. We also decided to target the business owners and the local people within the town. Our services are pretty expensive because of the luxurious services and spacious environment; hence we target tourists (Martin, 2011). Tourists are optimal for the product because they are always willing to spend as long as their needs are met. Business owners are also optimal for the business because most of them prefer hosting some business meetings outside their offices. Luxurious vibes within the city give them proximity to numerous offices. The local people also want a place to relax and host events like birthdays and bridal showers. Therefore, our business's luxurious and spacious environment is why the segment is the most optimal.

Product Lifecycle

The company's main product is the breakfast and accommodation services. The company purchases beddings and beds from the manufacturers and then sets them up in the ten rooms which exist in the inn. It also purchases small tables where the clients can place their belongings. The company does not have multiple suppliers, but it relies on one that gives the best high-quality products. Nonetheless, the company also prepared breakfast. The product life cycle in the company is caused by the presence of two kinds of customers, the first-timers in the business and those coming for another time (Kenneth, 2021). Trial purchasing tends to follow a pattern of quick increases in purchases. The first-time trial purchases are slow since the market s starting to learn about the restaurant. The new first-time customers in the inn start rising in several months, and then the interest reduces. The repurchasing behavior declines after consequent repeated visits, customer satisfaction rises, and service improvement. The point of differentiation exists when two companies provide similar services (Kenneth, 2021). One must be innovative in its activities to gain a more competitive advantage. This brings more value to the target market since the company ensures the customers are satisfied with its products and services and diversifies the services offered.

How the company will position its product to the target market

This segment matches the product, message, and channels used to advertise it. Most youths today are into social media, and promoting the product using this avenue is the best for desirable behavioral change (Xu et al., 2021). The message will also be simple but attractive to attract the youth, making them attracted to it. The company's database stores the customers' operational data, and it involves Customer Relationship Management, which the company uses to know the age segment and the value of the clients (Xu et al., 2021). The young adults are mainly in the database, making the inn create unique ways of positioning its products. The company has also analyzed the volume of sales and the consistency in the customers using items, making it easy for the segment to reach an optimum.

Branding strategy

It would be the best since Luxury Vibes Inn wants to get more customers to have a taste of how excellent its services are. The company will mainly rely on online branding, also referred to as internet branding. The company can develop a website or social media blog where it posts more about its services and then followed by images of the place. The images are mainly included to lure the audience to visit the inn out of curiosity. Currently, there are many social media apps such as Facebook, Instagram, and even Twitter (Gunter, 2015). The company can create pages and pay for ads to help the brand itself. It is most likely to attract people of all ages since they will want to visit the place due to its provision of a family experience and its promotion of bonding. This strategy will be successful since it will attract more customers to the business since most people have social media accounts. Those who have already visited the place will give reviews that will also be a form of customer attraction.

New Product Development Process

The product to be developed will be manufactured during the summer. The tourists visiting the hotel are mainly young people. Young people have a solid mental power that quickly unfolds as they try to understand themselves. They also have an increased desire for more knowledge, and they love talking ad reading with each other. This character trait makes them the best segment to target in the beverage market since they can take the drinks as they constantly interact with others (Nixon et al., 2015). drinks have unique tastes, and they make them feel refreshed, which helps them use their imaginations and dreams a lot as they continue advancing intellectually. The youth also like to debate and go out with friends. They could need a drink to take as they bond with their friends, and this beverage would be the best. Older adults are more conservative and will question every drink created since they want a health-conscious one due to the rise in chronic conditions. However, the young are always ready to explore and try new things, so they are the best target for the company (Gunter, 2015). Summer would be the best period since it is a hot period and the young people want refreshments. The product will be tested among the San Diego locals so that it does not affect the rest of the global market. The company will produce about 2000 refreshments, and it will give the residents of San Diego between the ages of 25 and 40 to know if the products are excellent or if there are adjustments to be made.