Profiling an International Market for Hotel Chain- myassignmenthelp

Question: Discuss about theProfiling an International Market for Hotel Chain. Answer: Selection of potential international market and analysis of their suitability Task 1 Talking about capabilities and strengths of the grand hotel group, it shall be noted that the organization currently is successfully working in the target market; and is gaining the competitive edge with the given approaches to manage the business actions. Further the capabilities and strengths of Grand Hotel Group are discussed below: Acquisition of small hotel chain: as the organization acquired small hotel chain which resulted in the growth of the company. This acquisition process helped the company to expand it base internationally and gain customer base in the market. Due to acquisition, guests of all country and culture were welcomed in the hotel and they were treated equally according to their cultural specifications, so as to gain larger satisfaction of customers as well. This acted as an advantage to the organization in their growth process (Dursun, and Caber, 2016). Specialism in multicultural adaptability: as the organization acquired many other companies having different cultural values according to their region in which they survive, due to which the grand hotel group also gained assistance in handling the customers of different cultures. The organization enjoyed diversified customers base which helped them to understand the demands of the customers in a better way. Resulting in the adapting different cultural values helped the organization to grow and survive in the competitive world (Goswami, Barman, and Sarmah, 2017). Possess strong financial ability: as noticed in the case study the organization, employed numerous employees due to increasing demand for their services in the market. Also, it shall be noted that grand hotel group even acquired many hotels for the purpose of expansion, so fact which came into existence in that grand hotel group has a lot of reserves kept with them which makes the organization more strong in the global market (Barber 2014). In order to determine various sources of information, the organization initiated investigation for the selection of international market mainly Malaysia, New Zealand etc. Firstly the organization gathered the information about these countries so as to open their new hotel chain. The expected growth of the company from these promising areas was analyzed by the way of market analysis. Talking about Malaysia being one of the best destination for vacation purpose, so concerning the increasing tourism in the organization, the company will enjoy a larger market size if their open their chain in Malaysia. Market accessibility refers to the degree to which the company of the whole industry is accessible to the people present in the market. So the country holds effective market promotion techniques in the country which benefits the customers to gain knowledge about the prevailing offers given by companies regarding hotel services (Gannon, Roper, and Doherty 2015). Furthermore, the legal and cultural conditions of Malaysia and New Zealand are stable and will not negatively impact the growth of the hotel chain in the countries. In fact both the countries inherit good cultural value which gives an advantage to the hotel group to warmly welcome the visitors and serve them and increase their satisfaction level. Malaysia is called as fruit for the industrial growth and political stabilities, thus it seems that the company will not face the issue in this case. The suitability of the organizational business activity in alignment to the potential market, it shall be noted that as discussed above, the market conditions of Malaysia and new Zealand are both suitable for the company to initiate their business activities. further detailed description of the potential market are discussed below: Suitability of market initiates sustainability of the organization in the potential market, thus it shall be noted that the grand hotel group have the efficiencies to optimize the resources available in the market of Malaysia and New Zealand. As the organization already holds a chain in many other countries as well due to which they have adequate communication skills to access the target market and avail benefits as well (Hall, and Rusher 2013). Furthermore talking about the resources available in both the countries which can help the Grand Hotel Group to appropriately initiate their business, it shall be noted that in both the countries tourism sector is at the prominent stage which helps the hospitality sector to initiate and operates its business functions actively. As known to all that Grand Hotel Group is an already flourished company which has inaugurated their branches at many part of the world, so they will not face difficulty in determining strategies for marketing and accessing information. Further taking about the marketing strategies of the company, they use the traditional means to attain the market while stepping in a new environment. Thus, the technique which Grand Hotel Group will apply is that they will collect the market information through surveys from the visitors and gain secondary information various aspects present in the society. I order to gain the competitive in these countries also the organization need to attain full and clear details about the target market. For that purpose they will interview and take survey from the visitors and prospective people to know about the taste and preference of customers from the company. Also the company shall look for the competitors present in society who can hinder the growth of the co mpany in competitive market (Hendrikx, et. al., 2013). Further considering all such aspects the organization shall implement the activities in the society and attain the resources. On the basis of such information about the clients present in the market and taste, the organization shall develop and plan which shall aim to optimize the resource from the society so as to fulfill the demand of the customers present in the society. The process through which the company shall enter in the market is by the way of merger and acquisition. Already the organization holds a large of many hotel chains which they have earned through this entry type, thus it is best suited method for the organization. Further while profiling the market, the demographic, psychographic and geographic description of the market and the company shall be overlooked. The target buyer of the company shall be both male and female who can be either married or single. Further the middle age people who have higher income levels are more like to expend in travelling. Thus, they become a part of the organizations profiling. The hotel can be established near the monuments or tourist sites present in the country. People will invest in the company f they have the mindset to expend for fun and luxury (Mok, Sparks, and Kadampully 2013). Task 2 In order to evaluate the key approaches which will help the organization to determine the total market within selected countries, the hotel group shall initially identify the target market the products and services which the hotel group renders. Talking about the segmentation of the target market the details are mentioned below: Geographic segmentation: the country includes two main islands and is situated in the southwest Pacific Ocean which adds grace to the beauty of the country. Thus, this feature will help the company to initiate sale of their services in the country (Balli, and Tsui 2016). Demographic segmentation: as domestic tourism in New Zealand is big up to $ 12.4 billion which remarks that people of the country are interested in this sector. In accordance with this aspect the demographic description of the company that around 60% of the married couples do not stay at home during their breaks or their children vacations (Silver 2017). So it shall be assumed that middle age and high level income married people are more interested spending their money on tourism. Psychographic segmentation: also companies present in the country reward their vacations offs, due to which they are insisted to go on short trips in the country and embrace their lives. Behavioral segmentation: as discussed above most of the people living in the country are interested in traveling due to which it has simultaneously become their behavior (Wirtz, and Lovelock 2017). In accordance with the demographics present the country, the company shall initiate a good communication plan which supplies and circulate all the details about the company in the target market. Further, they shall display their features in such a way that the entire customer gets attracted towards the hotel. Lastly, the company shall keep in mind the cultural and ethnic background of people and then work according. This activity will not harm the sentiments and emotions of customers which will result in the success of the organization in the target market (Pyo 2015). The target market for the Grand Hotel Group in terms of potential users it shall be noted that the organization shall on the clients who are segmented according to the segmentation process initiated by the organization. Further according to the geographical descriptor it shall be noted that the organization shall target the clients who are more interest in traveling ad living their lives. Adventure and nature lover should be the main target of the organization according to geographical segmentation. Next according to the demographic segmentation, the potential users who shall attain the services of the hotel are the middle age married or unmarried people who have keen interest in traveling and visiting cities (Firat, Ozaltin Turker, and Metin 2014). According to psychographic segmentation, the company shall target those people who are wanderlust and have a mindset to live life in a luxurious way. Grand Hotel Group being a high profile company provides leisure and luxurious services to the people in the country. And the behavioral segmentation shows that the people who have a regular lifestyle of visiting places and spending their lifestyle in a leisure way shall be attracted by the organization to provide their hotel services. the strategic marketing options which the organization shall use so as to expand the customer base worldwide is that, the organization shall use the promotion and advertisement strategies to communicate to people and survey the feature of the company services provided in the international market (Rondan-Catalua, and Rosa-Diaz 2014). The targeting strategies which best meet the marketing plan of the company are discussed below: In accordance with the marketing strategies of the organization the hotel group shall initiate the promotion strategies in such a way that it contributes fame to the organization in the global target market. Further, they shall circulate the information about the products and services with its specifications so that the people get attracted towards it and attain the services. Further t organization shall tie-up with various social media sites which survey information about the hotel and let people choose their hotel by comparing, with the help of such site people will get acknowledge with the services of the organization. Also, such sites provide the facility of sorting hotels according to their suitability due to which the prospective people can use the services of the company. Such site will promote the name of the hotel among the right people which the company aims to target (Nguyen 2016). Further, the advertisements strategies shall be used by the organization that it let people know about the specification of products and services provided by the company. The USP (unique selling proposition) of the company shall be defined which shall attract the people to attain the service of the company. The USP of the company will help them to differentiate their products and services from the other competitors present in the target market. Thus with the use of such strategies the organization shall use the targeting strategies which shall support the marketing strategies of the organization. In order to implement the target market strategy, the organization shall initiate a communication plan under which they shall communicate the above mentioned information to all the clients of the company. This process will help them to develop customers for the company. Apart from that through this process, people will get to know about the specifications of the company (Yabs 2014). They shall also provide attractive offers to the customers to motivate them to buys the products and services of the company. First come first serve, discounts, free visits etc. services shall be provided to the client is that they are insisted to use the services of the company again and again and become a regular customer of the company. Thus, in this will the company shall initiate plan which can help them to target the prospective people present in the market. Analysis of positioning strategy along with target market and audience Task 1 Talking about the total market of the company Grand Hotel Group it shall be noted that the organization aims to target the higher section of the society who travels in New Zealand just for fun and relaxation purposes. The people who want to have luxurious time while sitting in hotel and the target of the Grand Hotel group people. People having high-income range and who travel in five-star hotels are the people who shall be targeted by the organization. Also, the people who come to business meetings shall be targeted by the organization as they initiate repetitive sales (Bowie, et. al., 2016). The consumer profiles that are fit for the company are the high profile people present in the society. They are those people who either go on a business meeting or want to spend their time in relaxing. The middle-aged people are mainly targeted by the organization that has high profile income. To implement the market profile created by the organization, the management shall initiate the market profiling strategies which can attract the customers and create a brand of the company in the international market. The company shall aim to initiate good customer relationship so as to gain a definite goodwill of the company in the target market. Also, advertisement can also help the company to create a profile of the company in the market. The advertisement shall include all the specifications of the company and it shall also aim to respect the culture and religion prevalence in the country (Weaver 2017). Task 2 Two of the major positioning strategies which are available for the company to fulfill the market requirements of the company are positioning by product user and position by quality and price. Under the process of positioning by product user, the organization shall position their product according to the personality and the behavior of customers towards the products and services served by the company. Thus, if the organization will position their product according to personality activities done by the people present in the market then the company can earn benefits. Another position strategy is the price and quality strategy, this strategy shall be used by the organization in a way that it creates a distinctive position of the product in the eyes of high profile people. The organization shall deeply gain the knowledge about the dos and donts cultural features present in the society and then apply these features in the positioning plan so as to achieve growth (Silver 2017). the positioning implementation plan which the company shall apply is discussed below: The company shall gain adequate knowledge about the products and services which they are going to provide in the target market. Further, they shall determine the ideal product position on the basis of the countries map. Later they shall determine the alternative strategies for achieving the ideal product position in the target market. Then they shall select implementation of the strategies. Lastly, the organization shall compare the actual position with the ideal positions defined. 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