Effective sales strategy for luxury hotel in Moscow: direction towards sustainable development

• Номер работы:
  216757
• Раздел:
  Все работы   →   Дипломы MBA (Master of Business Administration)   →   Английский язык
• Год добавления:
  07.05.2012 г.
• Объем работы:
  36 стр.
• Содержание:
  Abstract 3
  1. Introduction 4
  1.1 Research questions 4
  1.1.1 Aim and objectives of the project 5
  1.2 The structure of the study 5
  1.3 Research paradigm employed 6
  1.4. Overview of main findings and conclusions 6
  1.5 Limitations of the study and recommendations for further research 6
  2.Background 7
  2.1 Industry macro-environment analysis: industry overview 7
  2.1.1 Key industry trends 9
  2.1.3 Competitive analysis 12
  2.2 Company micro-environment analysis: company overview 13
  2.2.1 Segmentation 14
  2.2.2 Customer profile 15
  2.3 Company goals and strategy 15
  3. Literature review 16
  3.1 Hospitality industry framework 16
  3.2 Strategies classification overview 16
  3.2.1 Types of sales strategies 19
  3.3 Competitive advantage and resource-based view 20
  3.4 Concept of service 21
  3.5 Concept of loyalty 21
  3.6 Concept of customer relationship marketing 23
  3.7 Decision-making process in hospitality 24
  3.8 Factors influencing customers in the luxury hotel choice 24
  3.9 Summary of literature review results 28
  3.10 Research hypotheses formulation 28
  4. Methodology 30
  4.1 Six major stages of the study 30
  4.2 Secondary research 30
  4.3 Primary research 30
  4.4 Limitations of the methodology 32
  5. Research results and analysis 33
  6. Recommendations and Conclusions 34
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  direction towards sustainable development
  
  While in the last 10 years Moscow experienced tremendous growth in the luxury and upper tier of the hotel market, now this sector is close to saturation.
  The concentration of luxury five star hotels quite high in Moscow and competition is very strong. As a result luxury hotels compete for the same customer at the same place and at the same time.
  As it is studied in the literature review a company can choose the way it wants to compete, based on the match between the type of its competitive advantage and the market target pursed, as the key determinants of choice (Akan et al, 2006). Accordingly, the approaches that the hotels take in making strategic choices need careful consideration if they are to gain or retain competitive advantage and to match the customers’ expectations in terms of marketing mix, concept of service and product. Customers of luxury five star hotels are very sophisticated and in order to be successful hotel should have maximum information about their customer and their expectations. Based on the actual information and feedback from the customers effective sales strategy should be developed.
  
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  The key feature of inseparability is the high level of face-to-face interaction between customer and seller resultant from the simultaneous production and consumption within the service process. This process has been variously described in hyperbolic terms as the so-called “momentof truth” (Carlzon, 1987) or “service stars” (Armistead, 1994).
  In general services are intangible or at least much less tangible than physical goods or products. This lack of pоsession means that services generally cannot be owned in the same way that manufactured goods can, they can only be experienced, created or participated in, with the result that customers may find it difficult to evaluate the services (Edgett and Parkinson, 1993). Obviously “pure” services are more concerned with a performance rather than an object. Campbell and Verbeke (1994) suggest that often the lack of a tangible product makes it difficult for service organizations to differentiate themselves “since customers do not always understand what information is being conveyed by different competitors”. In response to such problems they suggest that service cоmpanies may seek to ‘tangiblise’ (Bowen and Schneider, 1988) the intangible through different things as standardizing the exterior and interior of buildings to create an image which customers will immediately recognize, a strategy implemented with success by many companies such as Hilton, Marriotts etc.
  
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  Primary research is defined by Kotler (2010) as: 'information collected for the specific purpose at hand'
  In accordance with Saunders (2003) research strategies, the author decided to use a self-completion questionnaire which focuses on the viewpoint of the customers staying at HBKM in the study.
  
  The author chose to use a self-completion questionnaire as other methods, as, for example, interviews with staying guests at hotel, would have been more time-consuming and the sample of respondents would have been smaller. Then will explain to the reader in detail how the author applied and designed the questionnaire. The fact that a self-completion questionnaire was used also links back to its benefits.
  
  Therefore, the use of this questionnaire represented an effective, efficient and economical way of closing the research gap.
  
  Additionally, according to Finn (2010), 'Questionnaire methods also provide the means to gather and record simple 'Questionnaire methods also provide the means to gather and record simple information on the incidence of attitudes, meanings and perception among the population as a whole'.