Nova Southeastern University
H. Wayne Huizenga School of Business & Entrepreneurship
Assignment for: MKT 5125 – Marketing Decisions for Managers
Submitted to: Dr. Dick Murphy
Date of Submission:
Title of Assignment: Marketing Plan
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
We have done due diligence to align this plan with the Regional Rental Business Plan for 2015. Our goal was to augment the business plan with the marketing department’s details for meeting the business objectives for 2016-2020.
In this marketing plan, we have outlined a strategy for go to market, and planned out specific actions that need the financial support of the organization in order to meet our company’s financial goals. A thorough competitive analysis was accomplished, and a complete SWOT analysis created so that we are fully aware of market influences that may impact our business and its future. Finally, we will measure the impact of our decisions with the use of the performance metrics.
Table of Contents
Executive Summary 3
Situational Analysis 5
Market demand. 5
Customer Analysis 6
Competitor Analysis 8
Economic influences. 9
Global opportunities. 10
SWOT Analysis 10
Strategic Market Plan 18
Tactical Marketing Strategy 19
Performance Timeline 24
Marketing Budget 25
Performance Metrics 26
The car rental industry has changed gears over the past five years, growing strongly after being forced into reverse during the recession. Given that air travelers represent the industry's primary market, growth in air travel over the past five years has been most important in driving revenue expansion. Moreover, the industry is anticipated to continue growing through 2020, driven by an increase in the number of air travelers, rising per capita income and rising corporate profit. Car rental revenues are projected to grow 4-7% annually through 2020 when the market is expected to reach $34.2 billion.
Regional Rental is a company that knows firsthand how responding to customer demand can create astounding progression and growth. Regional Rental goes above and beyond the call of duty to make sure to take excellent care of the customers because the commitment of the Regional Rental service is devoted to measuring the satisfaction of the consumers. Daily rental use for Regional Rental continues to grow across Florida, both amongst leisure and business travelers from other markets, as well as amongst domestic renters. Regional Rental Incorporated's focus is on providing the highest levels of service and products that offer outstanding value and flexibility to all customers. As demand for Regional Rental's daily rental services grows, there is strong opportunity to extend our reach beyond our current region to additional regions in the state.
Regional Rental, a privately-held company, begun in 2000 as an automobile leasing business. Regional Rental started small, but expanded it correctly. They start with a fleet of 50 vehicles at the Orlando International Airport in 2000 was the beginning. Today they have grown into major competitor in the rental car industry on a national level. After starting in the city...