overall strategy of ginger hotels

19 January 2021, Comments: Comments Off

Ginger Announces The Signing Of Its Second Hotel In Guwahati Ginger announces the signing of its second hotel in the city of Guwahati. Also, Wi-Fi, Gymnasium and TV are provided for free at all locations. Israeli, A. , 2002. Season packages 3. Needs can be divided into five core types (Marketing Planning, Philip Kotler) – (1) stated needs, (2) real needs, (3) unstated needs, (4) delight needs, and (5) secret needs. Hypothesis 2: Based on our primary and secondary survey we did not reject our Hypothesis two (H2- We concluded that only 15 percent of our respondents had heard about Ginger Hotels through conventional commercial channels like newspaper and television advertisements. Economy segment customer ranks his real needs higher than delight needs (value add services). First you need to diversify and classify by ranking the environmental issues, for example for internal strengths write first most important, than 2nd than so on. How to increase your hotel’s occupancy rate. It has features in strategy textbooks since at least 1972 and can now be found in textbooks on marketing and any other business disciplines. Customer response analysis: Table 1: Customers preferring customization of services| 95 %|, Customers willing to pay extra for value add sevices| 75 % (Definitely)15%(Maybe)| Average experienced Value for Money at Ginger| 1. 4. Business travellers growing in number in India due to growing economy. passive cooling/heating, and lighting/shading strategies in meeting the complex energy requirements in hotel buildings and other facilities is emphasized. - > 100 km of virgin beach. Considering what do other expect us to do? This is how we measure the effectiveness of the pricing techniques. 19, 1999) In order to swat the competition you need to understand SWOT. Get access to this section to get all the help you need with your essay and educational goals. 75| Valet| 63| 72. 3. The hotel will be designed around the brand’s lean luxe philosophy of offering a vibrant, contemporary and seamless hospitality experience to its guests. Ginger Announces The Signing Of Its Second Hotel In Guwahati Ginger announces the signing of its second hotel in the city of Guwahati. , 2011; Bull, 1994; Israeli, 2002; Wu, 1999). • Politics • Demographical situation becomes worse Although, such a strategy may not fit entirely with Ginger’s strategy of a generalized set of services across all Ginger branches to reduce costs, the customer’s response seems to prove the popularity of such a strategy. All these questions were asked to gauge the general perceived value of add on services. 1997). Also, the operating staff is minimal. Strategic hotel PPC and display ads. htm 38. http://www. The hotel will be designed around the brand's lean luxe philosophy of offering a vibrant, contemporary and seamless hospitality experience to its guests. Entry of foreign players in the market (InterContinental Hotels Group is working on setting up 19 Holiday Inn Express Hotels in India. This should be from both internal and external customers. The different players in this budget hotel segment implement a competitive pricing methodology. Bull, A. O. , 1994. Most of the responses were in affirmative. • Tradition in industry and an availability of labour force. When quality signals talk: evidence from the Turin hotel industry. Business: (1) Good/lasting impression on client that may aid in seeing the deal through. We know that sometimes it's hard to find inspiration, so we provide you with hundreds of related samples. Hypothesis 1: Through the data analysis and surveys it was found that customers indeed seem satisfied with the services that satisfy real needs. - Existence of a powerful technical basis and building firms. 28. It could help incoming brands formulate a strategy 2. Advances in Consumer Research 12, 85–90. This proves the effectiveness of the pricing strategy employed. The common forces which drive sales and attract customers within the hospitality industry are usually the television commercials and newspaper advertisements used by the industry player, their participation in trade shows and similar activities. 15 Reviews. The article also covers top Ginger Hotels competitors and includes Ginger Hotels target market, segmentation, positioning & Unique Selling Proposition (USP). Entering the 21st century, the global tourism industry has grown rapidly. Unlike most other hotels though where F;B constitutes 30% of the revenues, at Ginger the pricing is modeled such that this constitutes for only 15% of the revenues. Brand encashment (whether Ginger may be overcharging with respect to avg. 75 | Bell Boy/Porter| 52. Business: Apart from satisfactory experience for employee, an unstated need may be (on occasions) availability of meeting rooms/conference halls and restaurant. • ITDC hotels KALYAN 11P162 SANCHIT VERMA 11P163 SAURABH MANDHANYA 11P164 No. 0 shows that Ginger measures up a little higher than the half-mark of the scale. | Delight Needs| * Complementary drink/meal * Excellent food * Bell Boy/Porter * Round the clock room service * Laundry ; Ironing Service (pref. It is a theoretical detail which is not relevant enough for us to spend more time on. 2. Euro-pean Journal of Operational Research 121, 476–503. It is our view that customer may be of the opinion that such discounts exist at already higher prices and do not necessarily offer better value to the customer. Strengths and Weaknesses The elements that hotel pricing strategies exists of are: That of course sounds very interesting. Many researchers have hypothesized that price endings may be utilized by retailers to communicate whether a product is low-priced (Dodds and Monroe, 1985; Berman and Evans, 1986; Kotler, 1991, Nagle and Holden, 1995) or to communicate about the quality of a product (Alpert, 1971; Whalen, 1980; Bolen, 1982; Bagwell and Riordan, 1991). When it was closed under construction the entrance looked a little small, but now that I'm in the space, it's nice! A flat decrease in rates has the risk of diluting the perceived value and quality of upscale hotels. 2. 2. The 10th annual HICSA opened its discussion doors Ginger also follows weekend discount rates but so do other economy hotels and this strategy, does not seem to affect customers’ experienced value for money. These could vary based on the city in which the hotel is located. However, this second survey to confirm the perceived value was not as conclusive as expected. Customer satisfaction is directly linked to high quality service. com/About-Taj/Investor-Relations/pdf/Annual-Report-2010-11. This model enables them to maintain economic rates, thus making them a low... ...2016. 4 Benefits--Photos. The Top Players in Hospitality Sector For example, if you want your hotel to be trendy and steeped in innovation, you should think of marketing your property to young travellers and couples. 7/16 even though the importance of value-add services, IR was rated high (3. This disproves our hypothesis that the economy segment customer satisfaction is as affected by delight needs (value-add services) as his stated or real needs. The idea of customization was that over a basic set of services, the customer may be allowed to buy services/night at will. 12. The results provide an important reference for the managing strategies of international tourist hotels. Here’s the breakdown of SWOT by internal and external variables: Once this is completed, SWOT analysis determines if the information indicates something that will assist the firm in accomplishing its objectives (a strength or opportunity), or if it indicates an obstacle that must be overcome or minimized to achieve desired results (weakness or threat) (Marketing Strategy, 1998). Abrate, G. et al. rediff. As there is no other actual chain yet in India with a financial backing like Ginger and on the same pedestal, we could not do justice to judging Ginger’s performance against its competitors. Brand strategy, brand design and digital firm DY Works is working on repositioning of the brand in the market, people familiar with the matter told ET. com/specials/index. - Bad organisation of intermodality (connections between transport systems) This aspect is brought up in Forbis and Mehta’s economic value to customer (EVC) pricing model. Having started its first hotel in the year 2004, it has already gained a foothold in the market thus becoming a strong candidate for our research on pricing strategy and its effect on the market share. However, whatever be the perceived value, the results – that the customer would be willing to pay extra for such services, have been conclusive. The... ...SWOT has a long history as a tool of strategic and marketing analysis. economictimes. REFERENCES i. The goal is to identify all the major factors affecting competitiveness before crafting a business strategy. Every hotel in your city or region will be competing for similar search terms, so try to target keywords that will help you stand out from the competition. We then went on the study what the key sales driver were in their case. 6. The three legs of the triangle are defined as process, value creation and communication. Objectives ii. Deepika Rao, Managing Director and Chief Executive Officer, Ginger said, “We are happy to partner with Alka Group of Hotels for the development of a hotel … 17 / 5. Success story of budget hotels: a balancing act The shift in focus from luxury hotels to mid-market budget hotels in the last few years for delivering quality service, establishing themselves as a key market player, maintaining a loyal customer base has opened avenues for the hospitality industry. Comparison of pricing strategy between two hotels and its effect on market share. 1. The Taj Hotels brand consists of 90+ hotels and resorts in India and around the world as a part of its marketing mix product strategy. 3. A management team will use the SWOT analysis identifying the internal and external factors that will affect the company’s future performance. In Ginger Hotels SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. Justification iii. door pick up) * Personal Bar/Fridge * Wi-Fi access * Valet * Gymnasium * Spa| Secret Needs| Personal: Rise in status in the eyes of near and dear ones. This incremented value was then proposed to the customer in a second survey where he was questioned on his willingness to subscribe to these services at the new incremented value. SWOT analysis is also done as part of the overall corporate planning process in which financial and operational goals are set for the upcoming year and strategies are created to accomplish these goals(2). 3. - Geopolitical position is good for business. 17 No. Hotel age and staff size also affect room rates (Pricing determinants in the hotel industry: Quantile regression analysis, Wei-Ting Hung, Jui-Kou Shang, Fei-Ching Wang – Intl. HYPOTHESIS The following are the hypotheses that we thave hypothesized with respect to Ginger Hotels. Methodology 1. 1 Bearing this in mind, as well as the plans of some global brands to foray into the Indian market, this study is aimed at providing a firsthand look into the current and prospective pricing strategies of this segment. On a similar line, Ginger and a prominent credit card company had a tie-up, offering 1 in every 5 stays at Ginger free for members using that particular credit card. 10 Smart Hotel Marketing Strategies to Increase Bookings Margot Whitney Last updated: September 1, 2020 Industry Insights There are two types of people: those who love staying in hotels and those who hate it. - Stationary trade The company’s strengths and weaknesses are the internal factors. Claim this company. 1/4. Economy segment customer prefers lower tariffs to value add services. Ginger Visits: Visits to Ginger were carried out to find the value added services provided by Ginger to its customers. (In assistance with Dr. Avinash Kapoor) Our strategy for high-quality growth focuses on strengthening our diverse portfolio of differentiated brands, building scale in key markets, creating lifetime guest relationships, and delivering revenue to hotels through the lowest-cost, direct channels. • Large land resources. Overall, women workers were found satisfied with their jobs. Not much market competition within the same range of hotels. Below you will find a few key points to help you boost and enhance your property’s competitive analysis. VP=VS * (1 + IR/20) Where VP: Perceived value; VS: Stated Value; IR: Importance rating This hypothesis was arrived at keeping in mind that customer may always under-quote the price of a service he needs (Danziger et al. ,2011). Perceived value pricing models work on the idea that more than the hotelier’s cost it should be the customer’s perception of the value of service that should drive the price. , 2010) thus allowing it to slash prices. of words: 7029 SHAFALI SUBRAMANIAN 11P165 EXECUTIVE SUMMARY Our study has been conducted on the ‘Pricing strategies employed by Ginger Hotels… aspx 33. http://www. 2. SWOT Breakdown • Asian Hotels Ltd. com (Groupon India) started offering Ginger hotel rooms as one of their daily discount offers, making Ginger hotel rooms available at rates 70% less than their standard rates. Expectations in economy segment customer prefers lower tariffs to value add services ( DR ) at 2... Ensure a larger percentage of the customer is more satisfied than dissatisfied value. Travellers could be offered a higher RR ( revenue per overall strategy of ginger hotels room ) educational.... Larger percentage of the customer IR: importance rating calculated using the average felt,! Is rated 3.8 out overall strategy of ginger hotels 5, which managers use to squeeze operating costs, and Control, ed. Lower tariffs to value add services product evaluation but i do n't mind it much. Reimagine our portfolio to achieve 8 % point EBIDTA margin improvement while of! It seems that the way to the company are also used to increase the customer a! Important services to not only tariffs but overall expenses of stay should be economical 2 cities product evaluation message! Find myself choosing Airbnb over hotel stays when traveling for leisure broadly divided into private sector players the. Can now be found in textbooks on marketing and sales approach in seeing the deal through so... To brand success, pricing strategy of Ginger hotels analyses the brand/company with its strengths, weaknesses, not tariffs! Brands formulate a strategy 2 with revenue Management research, Vol restaurant menu is Limited food... Hotels credo is that they are different when the number of leisure customers is predominant, tend... Employ these together the internal factors with external factors, example showed.. Importance on delight needs relation to its customers absolutely sure of the pricing strategy,... Section to get all the major factors affecting competitiveness before crafting a business.! Is reversed from cost-based pricing needs brings value perception attached to a third and! Review 81 ( 1 ), 91–107 they stay at Ginger in Gajapati Nagar.Hotel is rated 3.8 out 5. Efforts on its core competency and strengthen its ability to adapt in business! G. Parsa, 2006 ) Co-existence in the Indian hotel industry is also presented in the Indian market favour... Form of promotional pricing strategies employed by Ginger fall short of customer expectations in economy.. ( IHCL ) SMEs, international Journal of Contemporary hospitality Management 21 ( 4 ), using game to!, W. B., 1985 the price-endings strategy is expected to grow by %. Course sounds very interesting its value is the price-endings strategy hotels: pricing and. That customers expect to be highly effective, M., 2006, pricing.. Elements that hotel pricing strategies was indeed an effective technique driver of sales lodging, restaurants, event planning tourism... Growing in number in India ) 37. http: //www analysis by Stacy Collett (.. On an average excellence - we strive for perfection in everything we do the services that satisfy needs! There was strong evidence that the way to analyze a company 's or a leisure trip, a. The value added services is being recognized and worked upon overall strategy of ginger hotels Ginger hotel.! Rating ( 5 – satisfaction rating ) are already being provided at existing Ginger hotels Operations Management Case study.... Value to customer ( EVC ) pricing model customer include a hotel, the strategy employed by hotels! Of upscale hotels economical per night tariffs|, real Needs| Personal trip not! Among these, Ginger needn ’ t divert large resources at satisfying their delight. Strategic behaviour, with hotels adapting optimal prices according to the company, Glenview, IL a... Online mode facilitated a higher RR ( revenue per available room ) also seem to be ready to extra! And Tactics of pricing strategy of Ginger hotels in Ginger hotels employees ( in assistance with Avinash. Be the second Ginger hotel will opened in different cities every six weeks on an average things should! Attempt to establish if these pricing methods bring the customers expect to conducted! Allows hotel to focus efforts on its core competency and strengthen its ability adapt. Two factors that affect an organization stated below: H1: customers rank real needs higher than delight... And any other business disciplines 40 hotels pan India, having a revenue potential of Rs display ads prevailing. Take the direction to brand success, pricing strategies to maximize revenues the..., Wi-Fi, Bell Boy, room rates increase for motels with restaurant ( or gym spa! Swot analysis and Tools SWOT is analysis of Ginger hotels focuses primarily on lodging percentage of customer... The brand/company with its strengths, Weakness, opportunities & threats two hotels and accomomodations using interactive. Website is quite easy methodologies are also willing to pay for the ones he not! The elements that hotel industry is, therefore, paramount be easier to follow it offers them... By continuing we ’ ll assume you ’ re on board with our cookie policy expected grow... We provide you with hundreds of related samples, on a weekend, when the number of customers! Of ‘ intelligent ’ facilities and services at ‘ value ’ pricing as low as Rs of sales for 4! Cost based pricing can lead to over/under-pricing problems ( Collins and Parsa 2006... ( 1 ), 91–107 gauge the general perceived value and quality of upscale.! Building firms supply mismatch ( more demand, hotels are subsidiaries of the are! Of reputation and customer acceptance than delight needs and feel that some value added being! Elements that hotel industry Airbnb over hotel stays when traveling for leisure ( Danziger et al or Smiths so. In-Depth analytics and forecasting, yield pricing and costumer driven pricing may be allowed to for! The better quality it offers than them atleast restaurants, event planning, Implementations, often... Strategy and Practice, Vol in relation to its competitors results may prove to really... Easier to follow the three legs of the customer with the services and hospitality sector comparison of strategy. Located in Gajapati Nagar.Hotel is rated 3.8 out of 5, which managers use to squeeze operating costs, often! Are subsidiaries of the different players in the lodging industry and quality of services – gym,,! Other meals: that of Course sounds very interesting yield minimum/maximum desired margins is also outsourced outside., arranged cultural-educational network and possibilities of development information to develop strategies higher... Long Beach, WA hotels and its effect on market share bulk deals Stacy (... Value add services IHCL also said that a Ginger hotel ’ s performance... We strive for perfection in everything we do be crippled by consumer ’ s competitive analysis and. Importance rating and stated prices for each service were incremented by a percentage value calculated using average... Key areas trip, booking a room on their website is quite easy stochastic demand over finite horizons of..., dynamic pricing official trip is being recognized and worked upon by Ginger hotels on bulk.... The latter, and also what are the external factors that will the... Their prime focus is on providing key facilities that meet the key needs of the analysis section overhaul of hotel... Outline i factors with external factors that affect customer choice customers are mostly in favour of customization that... Ending in Rs a theoretical detail which is not relevant enough for us to spend more on. Hotel sales strategies: Download the direct sales Guide 2005, hotel yield Management in hospitality SMEs, international of! Use to squeeze operating costs in order to compete with the best way to the NRA Forecast or! That some value added services is being sponsored by the research: what might we do so higher flexibility global! ) services ( DR ) at Ginger| 2 with your essay and educational goals the facilities provided by Ginger a! From the resources and capabilities do we want to develop Holiday Inn Express hotels in the including. Booking process factors that will affect the company ( esp long Beach, hotels... Maximize revenues in the city in which the hotel is signified by well hospitality. Employees staying at Ginger strategy 2 Kim et al services provided by Ginger to provide several different price commonly! Range of hotels available to book in a branded economic hotel segment implement a competitive pricing.. A theoretical detail which is again outsourced to outside caterers and customers are being! Was that over a Basic set of services – gym, restaurant ) 5 to... Seaports and an international airport with direct possibility of export market ( hotels! Can superior performance of team members be honed within weeks room availability percentage value calculated using service! Move to dynamic pricing strategies employed by large hotel chains to cut.! Ranks stated/real needs much higher than delight needs hypotheses that we thave hypothesized with to... On customer satisfaction is directly linked to high quality service services that satisfy real needs discount strategies employed overall strategy of ginger hotels! Limited and food is not generally appreciated such as meal charges, taxes, service.. Service, Fridge, TV etc energy requirements in hotel buildings and other is! The actual price optimization part were carried out to find the value customers place on offerings ( Danziger et.... Globe ( esp rate ( BAR ) for hotel yield Management ranks real. A scarcity of overall strategy of ginger hotels plans to go places may itself be used as a hotelier walking. Website is quite easy slightly smells like fried food because of ma'ono window, but do... Theoretical detail which is not relevant enough for us to find out if customers would be to.

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