2121 ppt

1. Business Concept: Souvenir Shop at Hotel X Group Members: Chan Ching Wa 11379593D Chan Yan Ying 11103641D Chan Yun Tao 11178264D Cheng Hei Man Maisie 11062007D Lai Wai Chung 11212018D Yeung Shuk Fong 11049554D

2. Objectives   To analyze the environmental trends which may impact the business  To summarize the external opportunities and threats identified  To analyze current and future competitors  To outline the specific marketing objectives to be achieved

3. Objectives   To analyze the target market  To describe the marketing mix strategies  To provide an implementation milestone  To prepare a marketing budget  To provide marketing controls

4. Marketing External Analysis 

5. External Environmental Trends  Demographic Trends Economic Trends Ecological Trends Technological Trends Socio-cultural Trends

6. Demographic Trends   Hotel in-house guests  Leisure tourists – 51%  Business travellers – 36% Main purpose of trip Leisure tourists Busniess Travellers Others

7. Demographic Trends Gender Percentage Male Female  63% 37% Age Percentage Above 55 11% 46-55 22% 36-45 29% 26-35 33% 18-25 6% Below 18 0% Marital Status Percentage Single 34% Married 57%

8. Demographic Trends  Education Level Percentage College/University 59% Postgraduate 32% Middle/High School 8% Primary or below 1%  Country of Residence: Top three – Australia, USA, China  Nationality: Top three – China, USA, Australia

9. Economic Trends   „World Economic Situation and Prospects 2012‟ published by the United Nations  Another major downturn  Companies cut costs (ie: business trips)  Survey conducted by Market Matrix  Comparatively less effect on the spending of luxury travellers

10. Ecological Trends  environmentally-  Growing concern on being friendly  Pay more attention to environmental aspect of products  Article - 'the environmental impact of the fashion industry'  Fashion industry is detrimental to the environment  Eg: Diesel and Marc Jacobs  Promoting environmental awareness to combat environmental issues  Increase demand for organic cotton

11. Technological Trends   Most hotels have their own website  Reservation Channel Used in Hotel X: Channel Used Percentage Hotel website 41% Online booking website 40% Travel agent 11% Hotel reservation number 8%  Internet: an enormous potential to increase the success for the souvenir shop  convenient platform  good promotional tool

12. Socio-cultural Trends   Report titled “Signaling Status with Luxury Goods: The role of Brand Prominence”  consumers would pay a higher price for materialistic products to show their status  obvious in China  According to Chinadaily  Chinese shoppers who purchase luxury goods are aged between 18 to 34  Equals to 45% of total Chinese shoppers

13. Current Competitor  Shanghai Tang

14. Current Competitor   Important to understand where the customers would go to buy a product  If in-house guests want to buy fashion products, they would consider:  The brand  Where to get the products  Our current competitor would be:  a shop that sells similar products as Vivienne Tam’s  located near Hotel X

15. Current Competitor   Shanghai Tang near Canton Road in TST  Both the style and prices are very comparable  Feature similar sophistication and elegance to its clothing  Comparison of price between Vivienne Tam and Shanghai Tang Items Price in Vivienne Price in Shanghai Tam (HKD) Tang (HKD) Tops 1,500-3,000 2,000-2,500 Pants 3,000-5,000 2,000-3,000 Jackets 6,000-25,000 5,000-15,000 Accessories 2,000-10,000 500-8,000

16. Future Competitor  DKNY

17. Future Competitor   Companies that will likely attract the target market base to purchase their products in the future  DKNY: possible future competitor  Similarities in style as compared to Vivienne Tam  A DKNY retail shop located in Canton Road  Slightly lower price Items Price in Vivienne Tam Price in DKNY (HKD) (HKD) Tops 1,500-3,000 500-2,500 Pants 3,000-5,000 500-3,000 Jackets 6,000-25,000 3,000-7,000 Accessories 2,000-15,000 100-3,000

18. Opportunities and Threats 

19. External Opportunities  Profitable to open souvenir shop at Hotel X:  Increasing trend of purchasing luxury good to show of the shoppers’ status General Chinese shopper who purchases these luxury products are of similar age to those who stay at the hotel Majority of in-house guests are leisure travellers Leisure tourists are less affected by economic downturn Website as promotional tools

20. External Threats  Possible threats:  Counterfeiting of goods, especially among luxury brands Unrealistic to say that all leisure travellers are less affected by economic downturns Spending patterns of consumers always change Competitors

21. Marketing Objectives 

22. Marketing Objectives   To create a distinctive souvenir shop that enhances the overall experience of Hotel X  To create products that will be positioned as special in the minds of customers  To increase the brand awareness of Hotel X  To increase the overall profitability of the hotel by attracting more travellers to stay here due to the unique souvenir shop offered

23. Target Market   Market Segmentation  Market Targeting  Market Positioning

24. Market Segmentation   Demographic segmentation  Particularly on ethnicity and age  Majority of the in-house guests: 1. Young adults aged between 26 to 35 years 2. Chinese leisure travellers  Research proves that they are potential customers

25. Market Targeting   Target Market: In-house guests in Hotel X  Characteristics:  Luxury travellers  Leisure tourists  As proved in the external environmental trends previously

26. Market Positioning   Does not focus on products  Focuses on what potential customers think of the products and their perception towards them  Clothing brands are often unique to customers  For the products in Hotel X:  Apply the unique theme of Hotel X into Vivienne Tam’s product design  Fresh and stylish image  Customers will find the products distinctive

27. Marketing Mix Strategies 

28. Marketing Mix Tools – 4Ps  Product Promotion Price Place

29. Product   Anything that can be offered to the target market for consumption  How the features satisfy the needs of the customers  Proposed souvenir shop aims to sell a variety of fashion products  Main focus: clothing line  Invite Vivienne Tam to be the main designer

30. Product   Demands and Needs of customers  “the rich are younger and are desperate to prove their social status." Zhou said.  Fashion products designed by famous designers such as Vivienne Tam would have a great potential demand  Make our souvenir shop more distinct

31. Proposed Product   majority of in-house guests being leisure travellers  Casual wear  Keep the style of Vivienne Tam’s clothes  Change the colours and patterns to match with Hotel‟s theme 1. Green and grey in colour 2. Plant patterns 3. Clothing line named “Unlike Any Others” 4. Organic fabric

32. Price   The amount of money that customers have to pay for obtaining the product  Highly related to the spending power of the customers  Value vs Price?  Proposed Price:  Follow the prices of Vivienne Tam’s actual products  range from HKD 1,000 to HKD 3,000

33. Place   the location that provides products to the customers  should be highly accessible and convenient  Proposed Place:  few steps away from the concierge desk  High traffic area  Guests can physically try the clothes

34. Promotion   All the ways that marketers use to provide product information and marketing message to potential buyers  Target audience should be reached thoroughly  Proposed methods: 1. Homepage screen on in-room TV 2. Put an information stand near the actual shop  update information from time to time 3. Promotion from staff, especially Front Desk agents

35. Implementation Milestone 

36. Milestones Starting Date Ending Date Budget Responsible Department Invitation and 15 Apr 2012 15 June 2012 $0 Marketing confirmation Dept of Vivienne Tam Contact with 15 Apr 2012 15 July 2012 $0 Marketing other suppliers Dept Webpage 1 July 2012 31 July 2012 $2,000 Marketing & design IT Dept Purchasing 15 July 2012 31 July 2012 $100,000 Marketing & stocks Purchasing Dept Purchasing 15 July 2012 31 July 2012 $10,000 Marketing & souvenir Purchasing cupboard Dept Placing job 15 July 2012 15 Aug 2012 $0 Marketing & advertisements HR Dept Promotion 15 July 2012 30 Sept 2012 $70,000 Marketing & PR Dept

37. Marketing Budget   Marketing Expenses  Sales Forecast

38. Marketing Expenses (January to June)  Expenses Jan Feb Mar Apr May Jun Salaries $25,000 $30,000 $25,000 $25,000 $30,000 $25,000 Expenses Promotion $5,000 $4,000 $4,000 $2,000 $2,000 $2,150 and Advertising Expenses Delivery $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 Expenses Other $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 Expenses Total $33,000 $37,000 $32,000 $30,000 $35,000 $30,150 Expenses

39. (July to December) Expenses Jul Aug Sept Oct Nov Dec Salary Expenses $35,000 $35,000  $25,000 $25,000 $25,000 $35,000 Promotion $2,150 $2,000 $2,000 $2,000 $3,500 $3,500 and Advertising Expenses Delivery $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 Expenses Other $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 Expenses Total $40,150 $40,000 $30,000 $30,000 $31,500 $41,500 Expenses  Marketing expenses for one year: HKD 410,300

40. Sales Forecast (January to June)  Jan Feb Mar Apr May Jun Unit Price $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 Sales $100 $150 $120 $120 $130 $130 Volume (units) Total $230,000 $345,000 $276,000 $276,000 $299,000 $299,000 Sales Volume

41. (July to December)  Jul Aug Sept Oct Nov Dec Unit Price $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 Sales $150 $200 $150 $150 $160 $200 Volume (units) Total $345,000 $460,000 $345,000 $345,000 $368,000 $460,000 Sales Volume

42. Marketing Controls 

43. Marketing Controls   extremely essential  Help to track the result  Monitor the development  Ensure the objectives are attained from time to time  4 steps in marketing control: 1. Setting goals 2. Measuring performance 3. Evaluating performance 4. Taking corrective measures to adjust performance

44. Marketing Controls  Control measures Performed by Date/frequency Record sales volume Marketing Manager Monthly (Measuring performance) Measure Financial Marketing Manager/ Quarterly/Annually results against Accounting expectations Department (Measuring performance) Feedback from Staff in souvenir shop Monthly employees (Measuring performance)

45. Carry out survey to Marketing Manager / Quarterly/Annually determine customers‟ internal audit satisfaction with the product quality (Evaluating  performance) Diagnose any shortfall Internal audit As necessary to identify the causes and recommend corrective measures (Taking corrective measures) Take corrective action Marketing Manager As necessary to adjust performance eg. Reviewing the plans with suppliers (Taking corrective measures)

46.  THANK YOU!

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2121 ppt

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