1.
Customer profit is generating from customer satisfaction level. Customers’ satisfaction level is high, customers are willing to purchase more or buy higher margin product and service. ‘Very satisfied’ and ‘satisfied’ customer has customer profit above average customer profit. ‘Somewhat satisfied’ and ‘neutral’ are still profitable but they are below average customer profit. ‘Very satisfied’ and ‘satisfied’ have highly impact on profitability.
2.
a)
From the two strategies has been tested, hotel ambience been renovated is closely meets the customer profitability objective 290.76 and training and motivation are just 278.86. ‘Very satisfied’ customers contribute in profitability of RM136 whereas staff training ‘very satisfied’ customer contribute in RM106.13. Both sides of ‘satisfied’ customers are still above average customer revenue which hotel ambience is 135 and staff training is 16.8. The only think that thing that makes hotel ambience meets profitability objective is it able to decrease the percentage of ‘very dissatisfied’, ‘dissatisfied’, ‘somewhat dissatisfied’, and ‘neutral’ customers into at least ‘somewhat satisfied’
b)
Hotel ambience improves customer satisfaction was because the purpose of a hotel was making people relax and enjoy their vacation. Before customer enter hotel, the first thing need to satisfy was customer sights. Hotel’s environment must satisfy customer impression for them to feel welcome and relax.
1.2
1.
Net Marketing Contribution (NMC) is the profit generated by marketing and sales expenses. Jacket has the highest NMC of 150 and shoes have the lowest NMC of -20. Marketing Return on Sales (ROS) is percentage of sale generated from net market contribution (NMC). Marketing ROS can easily compared ...
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...ric. The problem that Cracker is facing market share lose is due to lack of awareness and the price of the product. To increase awareness of Cracker, HP needs to invest more on marketing expenses by doing advertising on social media and social network. The second problem was pricing, pricing strategy also play an important role for introduction stage of a product. If HP’s aim is to increase market share, penetration pricing is a suitable pricing strategy. This strategy encourage customer to change to new product by pricing the product in low price.
c.
By increasing prick OK is more efficient compare to improving intent to buy 6.93% to 6.38%. This is due to the related relationship in different area because it works in a chain of command to influence customer to buy Cracker. Price OK increase eventually intent to buy rate and purchase rate will increase together.
Customer satisfaction is a fundamental marketing construct in the last decades. The concept was not popular in the past and not accepted as well because companies thought it was more important to gain new customers than retain the current customers. However, presently, companies have greater understanding of the significance of customer satisfaction and adopted it as a high priority operational goal. Measuring the level of customer satisfaction is very important for today’s businesses. Businesses can apply these measurements to improve their business results. Consumer satisfaction is a central concept in modern marketing practice. The marketing concept makes much of delivering satisfaction to the customers and obtaining profits in return (Swan and Combs, 2005).
Today’s world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.
From the above literature customer satisfaction is a key factor in increasing organization profitability. It is however important to note that company that raises customer’s expectation too high will
One of the Namaste International Hotel’s main strengths lies in its position as a joint venture with The Leela, an already established luxury brand hotel in India. The Leela is one of the country’s most well respected luxury hotels and it aims “to sustain and surpass excellence in service, ambience and performance hall marks that distinguishes The Leela Group. The strategic locations, individuality, architectural aesthetics, lush greens and the intrinsic Indian culture holds true for every Leela property. Reflecting thereby ‘The Essence of India’.” Furthermore, The Leela Group focuses on an “operating philosophy [that has] personalized service and comprehensive logistic support. We ensure that our esteemed clients, devote their time to the sole purpose of their stay - to conduct business and relax in the most conducive environment” (Vision and Mission). The Namaste International Hotel fits in with the mantra of The Leela Group as a specialized luxury provider to businessmen and women from all over the world. Since The Leela has worked hard to establish itself as a leader in their market, a joint venture with this hotel brand provides the Namaste International Hotel with expertise in the hotel business in a similar format already established with their other hotels. Moreover, the Namaste International Hotel has many resources at its disposal to become competitive and successful in the Hyderabad, India market. Also, as a hotel operating as a joint venture to The Leela, we gain the loyal customer base that knows what quality to expect, a huge competitive advantage for the Namaste International Hotel.
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
There has been a direct finding that service recovery has a very strong correlation and positive relationship with customer satisfaction. This is an especially strong “wake-up” call for those in the hospitality industry to recognise that service recovery is a form of competitive strategy. Research by John Fleming and Jim Asplund indicates that engaged customers gives 1.7 times more revenue than disengaged customers and engaged customers returns a revenue gain of 3.4 times the average revenue (Brown 2007) . The understanding that future market share growth and profitability can be attributable to successful service recovery and customer satisfaction must implemented will future drive business strategies
The design of a lodging facility is an important aspect in differentiating the facility from its competitors while attracting consumers. Most facilities focus on the exterior design and forget about the interior design of the hotel. The exterior design is what is going to draw in consumers into the facility and the interior design is what is going to get the consumer to stay. Interior design is just as important as the exterior design. It is noted in the article, The importance of Interior Design in the Hotel Business that “first impressions are the most lasting” (Hotel, 2016). The Four Seasons Hotel and Resorts does just this, these facilities go above and beyond in order to be recognized as the company that manages the finest hotels, resorts,
The competence for KitKat was 95, the Boss was82, Queen was 80 and 97for the Q One. We choose a good rate for the battery life to satisfy our customers KitKat was 63, Boss was 99, Queen was 90 and Q One was 90. It’s showing KitKat is lower capacity than other products and the best was Boss, Queen and Q One .these products was marketed in Europe and Asia . The price of product in Europe for the KitKat product 999.0, the price of product Boss was 1000.0, price of product Queen was 1050.0 and price of product Q One was 1015.0. In Asia the product price different than price of the product in Asia. The price of product KitKat was 1199.0, the price of product Boss was 899.0, the price of product Queen was 1000.0 and the price of product Q One was
...ding to the marketing planning. Punjabi junction will need to improve their marketing mix strategy by increase their promotional activities and use promotional price strategy to achieve marketing objective and it help to improve their performance.
A hotel is a complex business with many different departments such as front office, housekeeping, food and beverage, maintenance, etc. As a manager, it is their job to keep the hotel running as efficiently
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.
We recommend Vikram to use service quality framework (SERVQUAL) as a scale to measure and manage hotel guest’s perception of service quality in terms of five dimensions (session2 slide#45), which are (i) Reliability – OV employee’s ability to dependably and accurately perform the promised service to consistently delight its guests (ii) Assurance – Knowledge and courtesy of OV employees, and their ability to convey trust and confidence. (iii) Empathy – OV’s individualized attention and customized care it offers to its guests and understanding the customer to anticipate guest needs, wants and desires to enlighten the service. (iv)Tangibles – Refers to OV’s lavish tents and other physical facilities, equipment, pleasant appearance of OV personal, etc. (v) Responsiveness – OV’s willingness to help customers and provide prompt
The more profitable firms are those that are able to maintain their most valued customers throughout time. To satisfy a customer means to make him faithful and customer satisfaction becomes the index that measures the ability of the firm to produce income for the future.
Providing a good service to one’s customer is the first step in generating consumer loyalty. Not providing a good service to a customer will only lead the latter to look elsewhere with his purchase. Customer satisfaction is a key component in having a customer that will return for future purchases. The organization need to research on its market and adapt to its demands. They need to investigate into the purchasing behavior of their audience. The customer buying behavior is about investigating what people buy, the reasons they buy and how the buying process goes on (Kotler, 1994) and they need to research thoroughly.
...e enough because the company has chosen the best possible way to increase the company performance. The pricing strategy is the company’s best strategy from all because it affected the sales revenue a lot. Although fluctuating the price is quite risky for a business since the customers might order from other companies if the company doesn’t do it properly, but XXX Company manage to done it well so far. The effectiveness might also be seen by the average of sales revenue between January to August from 2011 to 2013.