Hi, let me now get you to the next week in the in the marketing plan project that we are doing. It's the Capstone Project. And again, we are going to go now to the next step, which is finding the marketing strategy. The marketing strategy, as you know is a central part of the marketing plan and it's basically where we define objectives. Some of the objectives in this case are very clear. Some of them are not so clear. Some of them are explicitly said in the case. Some others is going to be you the one defining the objective. So, let me remind you of the structure that we use in terms of objectives in our In a marketing plan. The first one is usually the financial objective. So, the idea is what should be the final output of this marketing plan? What should be the final financial objective? And in this case, I think it's very clear. I think it's in the first paragraph of the case. That is basically saying, they need to increase profit. They need to increase their performance. And actually, they need to lever a specific return on investment, which is 6% return on investment. If you do the numbers, you're going to conclude that this 6% return on investment means a profit of around $864,000. So, that's objective. The whole thing is putting together a marketing plan to achieve that objective. You should also define, basically, other objectives that could be added to this financial objective like, for example, non-financial objectives. We something very, very interesting and very much used today in marketing plans, for example, things related to brand. Brand awareness, purchasing intention, brand perception. So, different things that are going to help us have a better definition of the objectives in the marketing plan. Another thing that should be always ways in the marketing strategy, the finish and is finding customer objectives. And in customer objectives, we're referring specifically to two different possible objectives. Attraction and retention. Attraction of new customers and retention or increasing loyalty among the existing customer base. The two of them probably are relevant, but it's going to be you the one defining if they should focus more on attraction or retention or what should be the mix, probably attraction is going to happen more during weekends, I guess. Why? Because in weekends, they have low frequency while retention and loyalty's going to be happening more on weekdays. Because that's where the business travel that comes and also the occupancy is the highest. So it's going to be you, actually the one defining this mix and then the final part of the marketing strategy which I think is the most important is defining the target segment and the position. So the idea is saying, you have different possible segments to target here and you should be the one again defining what should be the target segment for hotel in this marketing plan to be international travelers or local traveler, should it be business travelers or leisure traveler. So it's going to be you basically, the one that's going to fit the target mix. I wouldn't go for just one single target, but probably a mix of different targets is going to be the one that can deliver the final result in terms of profit and sales. And then the positioning, of course, that is going to be how do you want to be perceived? What elements of differentiation do you want to express in your marketing plan? So quick summary, financial objectives, non-financial objectives. Customer objectives attraction and retention, and strategic objectives. Meaning, target segment and positioning. And with this, we should close the marketing strategy step in the marketing plan. Once again, I think it's challenging, but I know you're going to learn a lot and it's going to be very useful for your future marketing plans. Thank you very much. [MUSIC]
