STRATEGY FOR BUSINESS POSITIONING
Every organization has to make planning for the business before conducting or starting any type of business or after the business started the strategies is very much required for development and growth. Every organization tries hard to bring success and top position in the market by putting up new ideas and innovations to run the business smoothly so as to survive in this competitive market by targeting customers which will bring profits for the organization.
Market Segmentation
The study of the market by which a maximum number of people can share their views that becomes similar in thoughts for fetching targets is market segmentation. The Oberoi Grand team members and the managers are gathered in a meeting place so as to share ideas with each other and they expect every innovative ideas to be brought so as to get success and develop their business.
Strategy of Marketing
According to Aaker (2005), marketing strategy defined to achieve a competitive advantage the organization has to set targets in mind of achieving more sales and resources to be used for optimal opportunities. The size of the hotel covers almost an entire block in amidst acres of the land surrounded by large historic monument white pillars with balcony on tops. The pillars resemble some historic capitals. The location of the hotel is situated in the heart of the city of joy which has every facilities regarding airport, visiting one shop to other, every tourists spots like parks, museums, golf course, theatres, shopping malls, government offices and many more are very near to the hotel. It is located in the main working areas of the city which has both shopping venues and business offices. The hotel’s location is the...
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... As far as cost leadership is concerned the Oberoi products and services are produced and sold at lower prices than other hotels which bring profits average higher than the expected. They always focus on the products and services that are given to the customers have to be the best one so that they can dominate the competitors and maintain the market strategy. The Oberoi hotels always maintain and judge the product and services by profits and its features apart from competitors. Their services and products are always unique from others.
SWOT Analysis through Existing Competition
Every strong competitor has its strengths and weaknesses which makes the business runs. Thus the Oberoi hotels too have strengths and weaknesses such as their facilities are of world class, customers demands are fulfilled, team members are happy working for them and serving the guests,
“A market segment consists of a group of customers who share a similar set of needs and wants. The marketer’s task is to identify the appropriate number and nature of market segment and decide ...
Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers.
b) Managers – that they have very little to no control over their property or employees. It seems like many important decisions have been taken away from managers, and they can not react in the best interest for the hotel chain because what’s in the customer’s best interest is usually not the same as the company’s best interest.
A cost leadership strategy is where that the price is similar or the lower rate from the products of the other companies so that Amazon can achieve the success in the competitive market. By adopting these strategies company need to know that where they want to focus, which type of services they have to increase and for the products and the services Amazon create its value for the lower cost of the product in the competitive market (Wong and Karia, 2010). Amazon have to sell the products at the low price from the other companies and the services which are provided by them they are good and the customers are satisfied by them. Then only enterprise can achieve the success in the competitive market and achieve the targets which are per decided by the entity. Amazon has doing the business in partnership with the Morrison by that company make a new products and increase their consumers. Now the Amazon has entering in the grocery retail market has also put the pressure on their supermarkets to setup their e-commerce business. Amazon has the capabilities to establish any type of business whether it is of grocery or selling the different products. It increases the profit of the company by selling the new products and increases in the consumers (Kindström, 2010). Amazon uses the different strategies is more a cost leadership with compared to the one or more retailers. Amazon give the different and better facilities to their consumers and having a capability which gives the physical economies of the scale. Amazon provides the advantage of the cost and provide the different services so that entity can attain the success. Amazon have to take a feedback from the consumer about their products that the company provided those products by that consumers are satisfied or not. It spread the consumer focus
A successful business strategy will identify changes in the external trends in the market place. Plan out what the company’s future direction is. Set out the goals for the management team. It will identify a vision of where the company wants to be in the future. Keep all employees informed of the direction of the company.
The hotel industry performs within a saturated market, driven by customer loyalty and competitive pricing to stand-out. This competitive nature makes it extremely important to capitalise on strengths while improving on
Strategy evaluation is an attempt to look beyond the obvious facts regarding the short-term health of a business and appraise instead those more fundamental factors and trends that govern success in the chosen field of endeavor. Strategy can also be defined as a set of objectives, policies and plans that, taken together, define the scope of the enterprise and its approach to survival and success. Alternatively, we could say that the particular policies, plans, and objectives of a business express its strategy for coping with a complex competitive environment. A good business strategy can be broadly categorized into functions like consistency, consonance, advantage, and feasibility.
Although individual definitions of strategy vary between each author, traditionally, theorists have considered planning an essential part of organizational strategy. “Strategic planning in organizations originated in the 1950s and was very popular and widespread between mid-1960s to mid-1970s, when people believed it was the answer for all problems, and corporate America was obsessed with strategic planning. Following that boom strategic planning had fallen off and was cast aside for over a decade. The 1990s brought the revival of strategic planning as a process with particular benefits in particular contexts” (Mintzberg, 1994).
Before starting any business you should consider its objectives, in order to develop a strategy. It is the strategy that lays out how the objectives will be achieved and determines deadlines for achieving them. If and when the goals are reached the business will be successful.
The Hotel industry has become very important in the past years due to immense traveling and growth of international business. Hotel industry not only plays an important role in the life of people but as well as the economy of the country. Development and advancement in the Hotel industry have rapidly been taking place and especially since the rapid change in technology, it is very important for hotels to be promptly keeping up to date. When the hotel industry is spoken of, there are many famous hotels but one hotel company that has been outstanding in growth and other aspects of business, like in Leadership, Teamwork (Employee turnover), Motivation (Customer retention and satisfaction, Goals and objectives, (changing the way hotel business has worked), and Change within the company; structurally inside and physically outside, adding elements, like entertainment, gaming, and outdoor activities, is the Hilton Hotel Company.
*Problems: How far can management push this branding strategy without undercutting the distinctiveness of each individually branded hotel?
In spite of having numerous structures in place to ensure a luxurious guest experience, the Oberoi Vanayvilas (OV) failed to provide a quality service to its hotel guest. To recover from this service failure, we recommend OV to sincerely apologize and ‘offer refund for the third night and a credit for the two nights for a future stay with additional hotel perks tobe used at OV within a year’ to the impacted guest. Main drivers for our recommendation are to convey a message that Oberoi sincerely cares about the customer inconvenience and wants its guest to revisit the hotel to win over the customer by its exemplary quality service.
Segmentation is a marketing strategy that involves separating a wide target market into small groups of customers who share the common need of using or purchasing the product that needs to be marketed. Market segmentation strategies are utilized to identify these groups of consumers and strategies are designed and implemented to make the product or service appeal to them. Support and also the product will be strategically placed in order to successfully achieve the ultimate marketing goal. Businesses and organizations may come up with different type of strategies involving different products and catchy phrases depending on the product or the target segment.
Critical to the success of any business is having an organized plan to succeed. Many small businesses especially those that are started ad-hoc or almost by accident, are the guiltiest of not taking the time needed to establish clear objectives for their business. Even in large corporations, there may be an overall corporate mission, but it is not easily translated once middle managers seek to merge the corporate mission into their daily activities. Any business, whether a small entrepreneurial start-up or a one of the fortune 500 companies, will benefit from carving out time to establish a well thought out business plan. A critical component in implementing a successful plan is to put in place specific goals and create a plan on how to achieve them. The strategies to consider are business type or industry; competitor factorization; the availability of human resources; timeline and budget considerations are just a few. A strategic plan which incorporates goal setting and a defined map on how these goals will be attained will set in place the groundwork for a successful business.
The key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment. The purpose of the strategic planning is to determine the most promising fields of activity providing its growth and prosperity. Strategic planning is a component of a broader concept “strategic management”. All four management functions (planning, organizing, leading and controlling), when talking about strategic management include strategic orientation. When viewing strategic planning from the highest level possible within a company, the planning function is the area that stands out as the most important area which involves a great deal of development and focus.