Evaluation of strategic options

✅ Paper Type: Free Essay	✅ Subject: Marketing
✅ Wordcount: 2649 words	✅ Published: 1st Jan 2015

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Marketing Management

“Marketing management” is a venture subordination, which is centralized the factual exercise of marketing approach and Management of enterprise.

Monor House Country Club (Singapore)

Manor house country club hotel is an optimal established enterprise in Singapore, operating by Jenkins family and it was formulated in 1992.

Location

This beautiful hotel located in regenerated part of Singapore and currently conducting as one hotel.

Current Progression

Manor house country club hotel providing a high level of proficiency for their precious customers’ through their services and convincing strategies and commanding environment.

Hotel intends to open a bar for their customers which increase the profitability of the business. this country club also intend to open a new restaurant by extending the premises for customers attraction and will provide modern drinks food facilities ,through that service MHCCH can enhance the consistence of business opportunities and profitability.

Monor House Hotel And Swot Interpretaion

SWOT interpretation will examine the key factors of MHCCH strategic options and marketing planning process.

SWOTinterpretation is an appliance for scrutinizean organization and its internal and external environment. This is an initial level of conspire and helps merchant to focus on key issues.“SWOT” stance for strengths, weaknesses, opportunities, and threats.

Strength

1. MHCCH is a blooming and instrumental business.

2. MHCCH having a bar license and going to reveal a restaurant both are running towards profitability.

3. Has a standard mark according to good management system and persisting growing business.

4. Indulgence rooms and services available.

5. Reasonable prices for room’s .in 2002 padding new splendour rooms.

6. Recruiting trained staff with grievous intelligence skills.

7. MHCCH is a emerging brand in today’s hotel industry.

Weaknesses

1. Regulation of Processes and system could be a weak point if not running properly.

2. Changing laws and price competition

3. Lack of market research (Current market trends).

4. MHCCH has only single privilege, why they don’t extend the business at international level or diversification?

5. Tremendously combative hotel industry.

6. Lack of marketing experience.

7. What advantages other hotels have.

8. Quality and price relations with hotel industry.

Oppertunities

1. Takeover opportunity if any hotel business insolvent.

2. According to the current trend a great opportunity for MHCCH is to improve their restaurant section, availability of all modern foods and drinks.

3. Increase in domestic travel and tourism is a prodigious opportunity to increase profitability, special concern areas to enhance market research, hotel management system trained and highly educated staff required to meet these kinds of opportunities.

4. Trade consultation and exhibition ratio in a country is increasing, it’s a abundant opportunity for MHCCH to organize some exhibitions in their hotel, which can enhance the business growth, build relationship with others, profitability and chance to assort the business.

5. Local events.

6. Promote teamwork across divisions to get to get what actually hotel want.

Threats

1. Singapore hotel industry is itself a powerful threat for MHCCH.

2. Changing laws, banned smoking in public areas is also a big threat for MHCCH.

3. The movement towards globalization means that there is a threat of similar products and new competitor.

4. Competitors lunched new facility for their customers.

5. Customers

6. Political

7. Economical

Macro And Micro Environment Of “Mhcch”

Macro environmentadmit all components that affect on business but are out of its absolute command. Merchandise or market environment is constantly diverging, in this case MHCCH must be competent to accommodate. There may be barbaric encounter or emulation in a market. The broader environment, the more MHCCH need to plunk out changes in cultural, economical, political and technological parts of MHCCH.

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Competitors are also a determinant in the micro environment and involve companies with comparable offerings for goods and services. The main key area where MHCCH need to concentrate is development and exaction of food and relevant living standard laws and safety for the protection of their customers. Different cultures live together in one state. Singapore due to increasing demand of outdoor food everyone wants to eat according to their taste so MHCCH need to develop their food section means availability of all foods and drinks supported by AVA’s (agric-food veterinary auto conduct seminars, workshop and training. (Food safety programme).to gain unbeatable profit.

The considerable key area where MHCCH need to engross is development and exaction of environments, strong ethical behaviour with sustainability in market research (what is a current market position?) Of Singapore hotel industry, innovation of new confection for their customers and inform consumers through advertisement about services MHCCH is giving.

According to Singapore hotel industry Singapore has 225 hotels and 37,000 rooms and hotel index expected to increase in future by 40%. MHCCH is facing a immense market competition and due to access in domestic travel the occupancy level is going up, MHCCH need to extend the hotel so they can generate availability of more rooms for their costumer’s and profitability of the hotel.MHCCH have to make some marketing strategies to compete this busy market and need development in living standard special offers like seasonal offers on rooms and restaurant, special discount on rooms prices and packages, facilities like parking area, internet broadband facility in rooms. Nearby transportation like car rental service facility and children’s play ground for the attraction of their customers. Study library for all ages customers’ Boost the attributes of the value display and allows hotels to better satisfy the needs of their guests.

Smoking Ban may have a backlash for MHCCH in the future. The assumptions of an inclusive ban would have a problem for smoker visitors, MHCCH need to have a more familiarize and diverse market articulation couldrapture the smoke free environments. MHCCH need for appropriation of asserts able conventions and environmental behaviours within and outside. The hotel has to adopt a great inherent to influence people’s mindset and to expand good examples of sustainable hotel environments.

Current market research shows sustainability and strength in MHCCH, and there has been a decrease in corporate guests from few years. This is also an environmental effect and MHCCH have to contemplate on the corporate hospitality section and absolutely prepared to meet the commitment of business travellers like availability of business meetings, business conferences, parties, interviews, seminars and private board meetings through introduction of new technology, publicity, advertisement and special offers and feasible research and marketing management system. Hotel need to perform some extra facilities by providing and implement Business conferring rooms, money exchange, commutation desk and expeditious and adequate secretarial abutment to spoil to the most challenging demands of present day hotel’s businesses.

“Mhcch” And Ansoff’S Theory

Introduction

Strategic marketing contemplate appliance that connect corporation marketing strategy its strategic options or directions through four main components which examine necessary growth strategies.

1. Market Insertion

By accelerate its existing product in existing market, in order to expand the sale and profitability.

MHCCH is a well established business but from last few decades there is immense decline in occupancy ratio specially in corporate guests and also the main point that have to be consider is that non-business guest and family non business guest ratio, is showing a steady growth in customers. Hotel need to increase its level of customer service and provide specific financial and non-financial incentives for each type of Room to establish long term relationship with its customers.

Main areas where hotel need to concentrate are as follows:

1. Enhance market share of their services.

2. Hotel need to enhance their marketing distribution.

3. Set pricing strategies, compare with market pricing rates.

4. Advertisement is the best way to inform customers about what services MHCCH is currently providing.

5. Development of new services like new running machines in a gym, hiring new instructors and in this digital age MHCCH is required online marketing to increase hotel’s sale.

6. MHCCH need to develop relationship with Singapore hotel industry and at international level.

7. Introduction of constancy scheme for their customers.

8. Customer fulfillments are communicated to courtesy employees.

9. Establish satisfaction of hotel stakeholders and customers.

Market Development

1. Recognize consumer needs in various markets with comparable needs to existing customers.

2. Hotel need to provide abundant customer awareness accommodate them excellent directions, their commitment with awful contemplate marketing, advertisement and sales campaigns.

3. Is the customer and approachwell enough researched and conceive?

Product Development

Cultivate or finding new products to put it into your existing markets. This is an appealing strategy, MHCCH need strong market share in an appropriate market. Here MHCCH need to concentrate on these areas to expands its business and profitability through enhancing its market search.

1. Target international market, availability of internet online booking of rooms.

2. Current position shows increase in occupancy level MHCCH have to develop new strategies to compete with new market trend what customers wants ,MHCCH need to innovate new ideas to attract new customers.

3. Increasing level of tourism in Singapore is a great oppertunity to utilize their existing services in market, museum and theme park is an attraction point to enter more customers through advertisement.

4. Furnished rooms, availability of internet service, television provide and invention of new swimming pool would be a great idea to attract new customers.

5. Introduction of Special holidays and honeymoon packages can increase customers and hotel profitability.

6. Good food required by their customers which wants new style food .MHCCH needs to develop restaurant sector by recruiting specialized food make and serving staff and special offers and deals for breakfast, lunch, and dinner to attract customers and sustainability of hotel in existing market.

Market Development

1. Recognize consumer in variance markets with comparable needs to existing customers.

2. Provides hotels with abundant customer awareness accommodate them excellent directions, their commitment with awful contemplate marketing, advertisement and sales campaigns.

3. Is the customer and approachwell enough researched and conceive?

Diversification

MHCCH need to diversify its business by introducing new products in new market by expanding their business in new market like open restaurants, bars, and hotel franchises in china, Taiwan, and other Asian countries.

Expanding hotel sustainability in Singapore by introducing new gaming area for kids.

Enter new dancing floor in restaurant could be a good idea according to new market trend and demand.

Porter’s Grid Analyse

Porter’s analyse assist marketer to distinction an aggressive environment. Affective five forces of ambitious position ideal analyse and assess the competitive position and strength to the organization.

Compititive Rivals

“Competitive rivals are competitors within an industry”.

1. Rivals can be harmful for MHCCH due to aggressive environment in Singapore.

2. More hotels entered into market, means increase in competitors so MHCCH have to updated about market research and consumer needs compare with competitors services and pricing which they are providing and than if necessary innovate new services to compete the cut throat competitive environment.

New Entrant

Singapore a highly famous country for its hospitality and a place of tourist attraction all over the world. Singapore hotel industry a busiest enterprise in these days.dew to increase in tourist travel towards Singapore from few decades. Many new competitors may wants to enter in market for business and if MHCCH don’t have much key technologies and competitive strategies than other competitor can harm MHCCH market or position and can decrease the growth level.

Subsitute Product

MHCCH is a hotel and operating within an aggressive and competitive environment .many competitors can introduced the same services and facilities on low price by outsourcing. It is important to consider but the most important thing to consider what kinds of facilities and services people wants according to new market trend. Market research has to be updated. What other’s competitors are providing? And then provide same services on less price and high quality to increase the profitability of the hotel .there may be a risk involve in decision making process.

Byer’s Power

Buyer power divided into two categories

1. Customer’s price awareness, like MHCCH start selling German wines and bears than customer’s decision of buying will be based on price.

2. Singapore hotel industry.

3. A large booking of rooms could be a buyer power.

4. Extreme price awareness of customers.

Suppliers Power

The term ‘suppliers’ elaborating all sources for injunction that should be in an order to afford services.

1. For example MHCCH have only few suppliers in a market rather than a burst source of supply.

2. Switching cost to change a supplier could be high.

Conclusion

In light of my above research I have come to conclusions which are that “MHCCH” have to consider the main marketing strategies, due to increase in occupancy level in Singapore hotels. MHCCH need sustainable position through strong marketing strategies, planning and extend the hotel at global level and develop more rooms availability and need to stabilized a good relation with their customers, suppliers and the most important competitors. Improve research and development departments by recruiting intelligent staff and give them comprehensive training and knowledge about their relevant fields to tackle modern environmental needs. Company have to develop the hotel at local and international level and get benefits from new recruiting partner with 5 years experience in marketing fast consumer’s goods. My suggestion for hotel is to expand the business external property by investing immense amount of sources on site like (restaurant and bar). Except this oppertunity and get continue growth instead of sell this hotel.