Transcript Actual Product - Food and Beverage

WEDNESDAY 1 APRIL
MARKET RESEARCH
MARKET MIX
MARKET RESEARCH
• CONDUCTED BY BUSINESS TO SEEK INFORMATION
ON CONSUMER BEHAVIOUR
• WHY DO WE NEED THIS?
1. ANALYSE TRENDS IN MARKET PLACE
2. LIFESTYLE PREFERENCES & CHANGES
3. CUSTOMER PREFERENCES
4. IDENTIFY OPPORTUNITES IN THE MARKET
5. EVALUATE MARKETING PERFORMANCE
MARKET RESEARCH
•
WHO DOES IT?
1. BY BUSINESSES THEMSELVES – THOSE THAT
HAVE SUBSTANTIAL MARKETING BUDGETS
2. BY PROFESSIONAL MARKET RESEARCH
COMPANIES eg – ROY MORGAN, GALAXY,
NEWSPOLL, AC NIELSEN etc
1.
2.
3.
4.
5.
•
HOW IS IT DONE?
TELEPHONE INTERVIEWS
ON LINE RESEARCH & SURVEY REQUEST
DOOR TO DOOR
SHOPPING MALLS
WHILST SHOPPING/STAYING IN HOTEL
MARKET RESEARCH
•
MARKETING INFORMATION SYSTEM – MIS IN HOTELS
RESEARCH INCLUDE1. SALES ANALYSIS –
DOGS, STARS, QUESTION MARKS, CASH
COWS – WHY AND HOW IT HAPPENED
2. MYSTERY SHOPPER –
MARRIOTT BRAND STANDARDS &
MYSTERY DINER/SHOPPER – EATABILITY.COM, TRIP ADVISOR
3. FREE LOCAL COUNCIL SERVICES –
SURVEYS THAT IS
DONE BY LOCAL COUNCILS TO INCLUDE BUSINESS TRENDS AND
PSYCHOGRAPHIC INFORMATION.
4. INTERNAL GUEST FEEDBACK QUESTIONAIRE
5. TRADE MAGAZINES
MARKET RESEARCH
6. SITE INSPECTIONS OF YOUR COMPETITOR HOTELS
7. TRADE SHOWS AND INDUSTRY SEMINARS – SYDNEY ON SALE,
AIME, WORLDS LARGEST BUFFET, ETC
8. UPDATING INDUSTRY KNOWLEDGE – WEBSITES, TWITTERS,
BLOGS,
9. MARKET INTELLIGENCE – GIVEN BY YOU AND I,
SUPPLIERS,CUSTOMERS IN HOTELS Information on the market the
hotel services that helps managers to make informed decisions
SOME COMMON QUESTIONS: IS MY MARKET SEGMENTATION CORRECT?
WHAT TRENDS ARE HAPPENING THAT WILL INFLUENCE AND
CHANGE MY MARKET SHARE
IF I RAISED PRICE BY 10% AND ADVERTISING BY 20% WHAT IS
IMPACT ON SALES?
MARKET RESEARCH
COCA COLA – CASE STUDY ON MARKET
RESEARCH
15 MINUTES – IN GROUPS
MARKET MIX
THE FOUR P’S OF MARKETING IN A HOTEL:
4 Ps Vs 4 Cs
PRODUCT – Hotel – C- Customer Needs & Wants
PRICE – Cost of Service being provided – C – Cost to
customer
PLACE– Where to communicate your hotel’s benefits to
potential guests– C – Convenience to the customer and
customer service overall
PROMOTION- Activities aimed to communicate the merit of
the product – C – Communication
SEE HAND OUT
PRODUCT
• Product – The way we present our hotel and it’s
facilities to the guest – making the facilities
benefecial and desirable to the target market –
eg Internet, Kids Corner, Club Lounge etc –
Market driven
• Hotel Room as a product – Core product is a
comfortable room to stay the night – Actual
product – service quality level, features,
lighting, brand name etc- Augmented product –
Additional customer benefits such as loyalty
membership, VIP upgrade – it aims to exceed
customer expectations
Actual
Product –
Comfort,
Lighting,
style etc
Augmented
Product – Benefits
such as upgrade,
breakfast
included,loyalty
cards etc
Core
Product Room
PROMOTION
• How the market that you are servicing (– Eg. Corporates, Groups)
are being informed of your hotel and specials that you are offering
–public relation activities(charities, social networking etc )
or promotional activities such as advertising, shop a docket,
displays, editorials, word of mouth,
or internet feedback sites namely Trip Advisor, Eatability.com.au,
Best Restaurants.com.au etc
Promotional activities are dependent on budget, marketing
strategies and reach of promotional activities
• Current effective promotional methods are:
- Twitter – online voice
- Linkedin – XING – professional on line networking business
people
- Blogger – Wordpress
- Digital PR – Press box is a free PR distribution site
- Web 2.0- Social sharing on your website with links
PROMOTION
• TWITTER - Twitter is a free social networking
and blogging service that allows its users to
send and read other users' updates.
• LINKED IN - LinkedIn is a business-oriented
social networking site
• BLOG - A personal or corporate website in the
form of an online journal, with new entries
appearing in sequence as they are written.
• DIGITAL PR - Digital PR is also a new style of
pr not just an agency – IT IS INTERNET
PUBLIC RELATIONS FOR FREE”
•
PRICE
Defined as the money charged for use of a product or
service- pricing is determined by positioning
It is about differentiating the product in the mind of the
customer Identify possible competitive advantage to build
the position E.g. value add for existing prices
A motel may charge less per room and is matched by the
service it provides compared to a 5* hotel
The range of products and services offered and market
position will influence the price charged – also dependent
on competition, consumer buying power, strength of dollar
and economy – it is hence critical to know your hotel’s
market
PLACE
• Locations where your hotel is promoted – where
we communicate to reach the right target
segments for the hotel – Could be direct
marketing, sales promotions, personal selling,
public relations and advertising
• Eg. A three * hotel due to limited budget may
develop and promote their website as their
means to promote their hotel to the market or
could promote the hotel at strategic locations
such as airport, transport hubs etc.
MEASURING MARKET SUCCESS
•
1.
2.
3.
4.
HOW IS MARKETING SUCCESS
MEASURED?
GUEST FEEDBACK
INCREASED MARKET SHARE (REVPAR) –
WHAT IS THIS? –see hand out
INCREASED REVENUE
MEASUREMENT OF INCREASE IN
ACTIVITIES AS A DIRECT RESULT OF
MARKETING Eg – Weekend Packages
•
•
•
•
•
VOILÀ is a frequent guest loyalty programme created specifically for independent hotel groups by Hospitality
Marketing Concepts, a proven leader in the hospitality industry for nearly 20 years.
VOILÀ can be customized to the unique needs of any hotel or group.
Only one factor levels the playing field with the mega-brands: LOYALTY
•
Every hotel is competing for guests and their bookings right now. Boutique hotels and independent chains contending
with mega-hotel brands and third-party booking sites are especially feeling the impact. But there’s a cost-efficient,
often overlooked way for hoteliers to reach a broader range of travellers and encourage repeat stays: LOYALTY
PROGRAMMES.
•
•
WHY LOYALTY PAYS
VOILÀ Hotel Rewards is a loyalty programme specifically designed for independent four- and five-star hotels and
hotel groups. Hotels maintain their unique identity while enjoying the increased exposure provided by being part of a
worldwide network of like-minded, luxury properties. VOILÀ essentially levels the playing field with some of your
biggest competitors – the mega-brands. Valued guests are introduced to your hotels and encouraged to book future
stays directly at hotels participating in the programme. Allowing guests to select the hotels they prefer, while earning
and being rewarded for their loyalty, has repeatedly proved effective.
A 2009 study of independent hotels by Boutique Hotel Advisors found that one out of every three guests said their
loyalty programme played an important factor in where they stayed. In fact, loyalty programmes ranked second only
to name recognition in being the deciding factor in whether a hotel guest booked a stay.
And yet another study published in a recent issue of Cornell Hospitality Quarterly found a "…significant and positive
relationship between non-payroll marketing expenditures, such as loyalty programs, and Net Operating Income (NOI).
Loyalty, rather than satisfaction, has become the key strategic goal for many service organizations, including
hospitality.“
•
•
•
•
MINIMAL COST. IMMEASURABLE GAINS.
VOILÀ is a turnkey solution that provides hotels everything they need to develop their own successful loyalty
programme. We deliver an agile, robust CRM system that interfaces directly with a hotel’s CRS. We increase
geographic reach through on-demand and complimentary marketing opportunities allowing hotels to deliver targeted
messages to a wide array of other VOILÀ hotel members around the world. We keep things simple with a pay-as-yougo revenue system. We support hotels through every step of the process -- from implementation to member support,
from maintaining leading edge technology to optimizing the success of your frequent guest program.