overall strategy of ginger hotels
29. The different players in this budget hotel segment implement a competitive pricing methodology. 1/4. Thus helping us ascertain that the techniques employed by the other players in the Indian hospitality sector were not effective when it came to Ginger hotels. American Economic Review 81 (1), 224–239. Nearly three-quarters (72 percent) of all adults wish restaurants would offer breakfast items throughout the day, according to the NRA Forecast. 999. 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. Considering what do other expect us to do? ijhm. (Jul. PRICING MIX AND STRATEGIES AND THEIR EFFECTIVENESS The null hypotheses have been stated below: H1: Customers rank real needs higher than delight needs. of words: 7029 SHAFALI SUBRAMANIAN 11P165 EXECUTIVE SUMMARY Our study has been conducted on the ‘Pricing strategies employed by Ginger Hotels, India and their effectiveness’ in order to identify the different pricing method that are implemented by Ginger Hotels and study their differentiating factors with regard to the other players in the hospitality sector. Room service is missing and seems to be a key service that is desired by customers and they are willing to pay extra for it. Pricing strategies to maximize revenues in the lodging industry. This would help us in figuring out the importance of the lack / presence of the various value added services in the eyes of the customer. 240 Crore annually. International Journal of Contemporary Hospitality Management 6, 10–15. Satisfying a combination of these needs brings value perception to customers. Second you should put together the internal factors with external factors, example showed below. 9 Jobs. Martinez-de-Albeniz, V. , Talluri, K. 2011. Ginger is also working to open bars in some of its locations which is again outsourced to outside caterers. Knowing who your hotel competitors are is an essential element of your hotel marketing strategy. No one knows who first invented SWOT analysis. By Stacy Collett This model enables them to maintain economic rates, … Some of these are : 1. 0| Average Felt Deficit at Ginger| 7. com/money/2006/mar/22taj. ROHIT SHARMA 11P161 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. | Bearing in mind the above categorizations, questions were asked of customers, in the online survey and personal visits (to Ginger), regarding their satisfaction level / value for money and their expectations in terms of value add services (delight needs) from Ginger or other similar economy hotels. 2) A proud/impressed employee so he may view the business trips as an added incentive of the job. Thus, it is found that a large number of hotels employ dynamic pricing of which the composition of the clientele is the main driver. Availability of seasonal discount/loyalty program. This strategy may require an overhaul of your normal marketing and sales approach. Strong brand name. However, absence of certain basic services such as bell boy/porter and twenty-four hrs’ room service owing to small staff size is bound to leave the customer dissatisfied. 15 Salaries. It is true that hotel industry has a primary role and affects some tourists. Relative to market needs and competitors' characteristics, a manager must begin to think in terms of what the... ...SWOT ANALYSIS 2 (Strengths and weaknesses) 6. WiFi| Respondents felt Wi-Fi should be a free service if present| | Primary and Secondary Surveys: Research (using Internet and by speaking with managers) was carried out to find any patterns with regards to the following pricing strategies that may be being followed by Ginger and other economy hotels: 1. The hotel will be designed around the brand's lean luxe philosophy of offering a vibrant, contemporary and seamless hospitality experience to its guests. Business: Apart from satisfactory experience for employee, an unstated need may be (on occasions) availability of meeting rooms/conference halls and restaurant. 7. In Ginger Hotels SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. Essentially the philosophy of SmartBasics is to think of ‘intelligent’ facilities and services at ‘value’ pricing. 2, 2005. 15. Effectiveness: Most costumers feel that they get value for money when they stay at Ginger. com/specials/index. • ITDC hotels 5. Prentice-Hall, Inc. , Englewood Cliffs, NJ. 7 /16 (Not equal to IR* DR as DR was available only for those who visited Ginger)| Table 2: Service Name| Average Stated Value, VS (Rs. At a time when five star hotels were considered as luxury hotels and everything else was a Budget hotel; Ginger hotels created a new category. SWOT analysis of Ginger Hotels analyses the brand/company with its strengths, weaknesses, opportunities & threats. Hypothesis 1: Through the data analysis and surveys it was found that customers indeed seem satisfied with the services that satisfy real needs. 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. Ginger offers differentiation from other hotels in the same economic segment with the better quality it offers than them atleast. Hence, techniques like early bird discounts are a better option (Stephan et al. of words: 7029 SHAFALI SUBRAMANIAN 11P165 Special last minute rates 5. 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). Ginger announced the signing of a new hotel in Udaipur, Rajasthan. Large land resources. The company’s strengths and weaknesses are the internal factors. Fei-Ching Wang and Jui-Kou Shang and Wei-Ting Hung, 2010, Pricing determinants in the hotel industry: Quantile regression analysis, International Journal of Hospitality Management 29 (2010) 378–384 16. IMPLICATION OF OUR RESEARCH 1. LIMITATIONS OF OUR RESEARCH 1. MAJOR PLAYERS It was found that customers expect Laundry, Wi-Fi, Bell Boy, Room Service, Fridge, TV etc. Ginger being a TATA enterprise has a good reputation and customer acceptance. Meeting rooms and Personal lockers are also available which were not considered in the motel industry... Ownership and production efficiency: a Guide to profitable decision making ( Kim et al basis and building.. Employed static pricing for a few tier 2 cities, Fraquelli, G., 1994 also be calculated by the. Normal marketing and any other business disciplines hotelier is walking down the halls of your normal marketing and approach! 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