Group assignment of marketing and innovation PDF

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group assdignmnet marketing and innovation of trend 2...

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Contents I.

Introduction......................................................................................................................................... 3 1.1

Company Profile ......................................................................................................................... 3

1.2

Vision statement .......................................................................................................................... 3

1.3 Objectives........................................................................................................................................... 4 II.

Pre-launch plan ............................................................................................................................... 5

2.1

Market Engagement Hypothesis (MEH) .................................................................................. 5

2.2

Pretotyping plan .......................................................................................................................... 6

III.

Marketing Launch Plan.................................................................................................................. 8

IV.

Conclusion ....................................................................................................................................... 8

Reference .................................................................................................................................................... 9

I. Introduction 1.1 Company Profile Claiming the breath-taking wilderness of Freycinet National Park, Tasmania Hotel and Resort is a natural paradise lying among spectacular Hazards mountains and facing beautiful Friendly Beach and Wineglass Bay. Acquiring the advantages that nature offers, Tasmania Hotel and Resort wish to deliver excellent services, experience and activities that allows visitors to fully immerse themselves in the wilderness and isolation with their family and friends. Besides the business, Tasmania Hotel and Resort aims at sustainability and the conservation of nature. Acknowledging the impact of the business on the surroundings, a part of the profit will be devoted to the preservation of Freycinet National Park. Starting the company with $100 million in capital, the business initially invests in the construction, facilities and human resources of Tasmania Hotel and Resort. The construction is considered deliberately regarding the materials, energy and impact on the surrounding environment. Despite having a modern design, the architecture of Tasmania Hotel and Resort does not compete against nature but instead reflects contemporary vision of Vietnamese traditional architecture. This architecture particularly reflects the sustainability of the company with the environment which is also fashionable and exotic (Thanh Son Le 2018). The design will be minimized but still luxury and calm. Using the steepness of the hills, the hotel, restaurant and resort will lean on the mountainside giving spectacular views over the beach and the bay. With the advantages of nature, Tasmania Hotel and resort promise to deliver unforgettable experiences including snorkeling, diving, jogging, trekking, meditation...The service and activities will be built to enable visitors fully immerse in the wilderness. The restaurant also provides customers with local cuisine with fresh ingredients from the sea. The menu and activities will be customized for each customer’s needs such as meditation, relaxing, detoxing...This uniqueness of the company will provide customers with upper-class service and personal dedication. Associating with the Tasmania Government, the company collaborates with the authorities in conserving the nature of Freycinet National Park. Tasmania Hotel and Resort acknowledges the importance of environment and company sustainability in the construction and operation process. An amount of the money will be spent on planting trees, disposal management and wild animal preservation. 1.2 Vision statement

“To develop the best travel service experience today, which means providing outstanding quality, service, safety and values with reasonable prices for each customer, so they feel safe to enjoy and smile” The vision of Tasmania hotel and resort is providing an affirmation of the criterion of "the best" in these days and ages with values that include outstanding quality, service, safety. Our business empathizes with the circumstance that customers experience, which is facing the danger of the covid epidemic and anxiety day by day. For that reason, we always put safety as the top priority in order to protect our clients and our community. The best proof to ensure the safety criteria in our vision is the provision of health check-up service: covid test for customers before joining the trip and health supervision during travel. At the same time, in our vision, we mention the reasonable price element because we know the financial burden of clients. According to a new Pew Research Center survey, coronavirus has made it difficult for half of the non-retired adults to meet their long-term financial goals. Thus, Tasmania will offer different services at different prices so that customers can make the most reasonable choice with their budget. Not only that, but we also offer a meaningful program of financial support for participants, that is if you participate in our evaluation survey, with meaningful surveys to contribute to improving the system, we will give out gifts including 50% off, Macbook air M1, iPhone 12 plus, and many more presents.

1.3 Objectives “Achieving $1000 million in revenue in the mid-range resort segment in the first year of entry into the market” This target was created when we surveyed the revenue of other resorts in Australia in 2020 and featured Crown Resort with revenue of $ 2,237 million (Annual report of Crown Resort in 2020). However, Crown's segment is the high-end segment, and our business targets families and individuals with above-average incomes. Therefore, our group can determine our priority customer in the market, which helps us to avoid disorientation during the processes such as research, analysis or marketing. In addition, that goal would be in line with the current travel situation as the covid pandemic is still affecting Australians' lives. According to the Australian government, comparing the June quarter of 2020 compared to June 2019, overnight trips in the country fell from 24% to 6%.

“Customer satisfaction scores range from 4 to 4 and a half stars for services offered at reasonable prices.” For any organization or business, customer satisfaction is the foundation to achieve the goals they have set. Our business understands that the level of customer satisfaction will reflect the rate at which the organization's goals are achieved. And satisfaction will lead to customer loyalty to the organization (International Journal of Managerial Studies and Research, Volume 3, 2015). Loyalty is shown that customers will come back to the Tasmania Hotel and Resort in future trips and in the minds of customers we have a certain place. The goal from 4 to 4 and a half stars is achievable in the first year because we want to improve and get 5 stars from customers from the second year in the market. With this initial goal, our business will have more motivation to create and provide the best services and experiments for every single client. Surveys will always be available online at the Tasmania hotel and resort website. And our staff will talk about the survey with customers as soon as they arrive at the resort, which means customers will appreciate us right from the first impression. And at the end of the trip, customers will be assessed directly at the survey at the reception. As we mentioned before, with valuable reviews, our business will thank customers with different gifts. We appreciate feedback from customers because thanks to it, our business can appreciate our system. II. Pre-launch plan 2.1 Market Engagement Hypothesis (MEH) As stated before, our company – Tasmania Hotel and Resort is an Australian resort which develops through an online booking and traveling platform that allows customers the opportunity to experience safe staycations right during the Covid-19 outbreak, which can open a whole innovation for implementation to the real world. Right now the desire of many Australians for traveling is rising throughout the years, yet there isn’t any company that currently provides them the chance to escape from their boring 4-wall home (Kelly, M 2021). Additionally, the tourism and travel industry received a massive impact in 2020, and now it needs a solution to recover from it (Statista 2021). The company will be based on establishing the relationship between rental hosts and customers through an online platform by bringing to both of them the proposed value, services, and most importantly, safety when traveling: Rental Hosts:

+ According to the 2021 Millennial Survey, almost half of all Australian millennials have a feeling of stress and anxiety nearly all of their time (Deloitte Australia 2021). This refers to the decrease in total home income as their hospitality businesses are not doing good because of Covid-19 impacts. As a solution, Tasmania Hotel and Resort will help them to generate income by offering a chance to acquire customers with a small charge of fee. At least 20% of millennials would pay $4.99/month (or $49.99/ year) to participate in Tasmania Hotel and Resort as one of the rental hosts and take the opportunity to start creating revenue. + Furthermore, rental hosts, who offer luxurious units, can also purchase the premium subscription which can give them a lot more benefits. For example, as premium hosts are likely to target a higher segment of customers, this subscription will help them reach potential customers (premium customers) by making the hosts’ offers likely to appear on their screen through algorithms. So there are at least 15% of rental hosts would pay $9.99/month (or $99.99/ year) for a premium subscription to reach out the potential customers Customers: + In order to quickly develop the Tasmania Hotel and Resort platform as well as fulfill customer’s traveling desires, we will offer free access to the platform for all of our customers and grant them the opportunity to experience safe staycations. With the breathtaking wilderness of Freycinet National Park, at least 10% of customers would pay $175 for a night in our luxurious hotels. +As we’re providing them the booking and supporting service, there will be a small service fee of 3% (included in the booking price) based on the total value of the transactions. At least 40% of customers would love to pay an extra $7.3 of the service fee for booking a $245 staycation. + We also provide a premium subscription for customers who are looking for a high-class, luxurious, and satisfying staycation experience. By having a premium subscription, customers will be offered tons of high-rating hosts and verified hosts (premium hosts) to ensure the quality of experience and safety. Moreover, premium customers will have discounts, special services and no longer be charged with service fees. At least 10% of customers would pay $6.99/month (or $69.99/year) for a customer’s premium subscription. 2.2 Pretotyping plan Hypo-zooming strategy

For more testable, going to hypo-zoom in a small part of the target market can help finding a suitable and feasible experiment to work with. The surveys conducted between 2012 and 2021 have pointed to the remarkable growth of YouTube up to 81% in 2021 among U.S adults (Pew Research Center 2021) (Figure 1). Consequently, this social media can help target our audience segment even in the upper medium class. According to Pew Research Center (2021), 78% of U.S. millennials with higher annual household income from $75,000 have more desire to use at least one social platform. In particular, the need to use the YouTube platform from the age of 25 to 40 is more than

90%.

Figure 1. Surveys of U.S. adults conducted 2012-2021 (Pew Research Center 2021).

Ads appear while watching YouTube videos can be annoying, thus instead of pushing information, we planned to make our brand more accessible in the first 30s. According to Tarcomnicu (2017), the first 30 seconds and the video tone must be attractive enough for people to watch the whole video. Optimizing the content while telling relatable stories is also the key to make a gentle push in the brand's direction, such as mentioned yearning for travel during covid 19 and how Tasmania Hotel and Resort prioritizes keeping customers safe throughout the vacation with reasonable costs. Pretotyping strategy

To pretotype and collect our own data of consumers quickly and inexpensively, we are planning to use the fake door method to see if people would book the service. The fake door testing is a form of pretotyping where the innovators pretend to offer a product or feature without actually building it (Savoia 2011, p. 44). It enables us to determine whether the product/service has a viable market demand before investing in and providing that solution. The closer we get to presenting customers purchasing the product, the more feasible the company can conclude to a genuine response with the customers believing the product already exists. Other early editions of this strategy inquired direct physical test versions for customers, but the service of travel experience itself requires judgements as a whole package, and users would know they were being tested, which may distort results. A published edition addition of pretotyping – Demo-reel may be feasible, and it can be linked to the fake door strategy as appealing advertising of imitation packaging can motivate users to click forward to the webpage/website and find out more information about the pricing and epidemic safety policy to meet their needs. The test will be accomplished via a business advertisement or survey on YouTube. In this regard, some requirements for the company include the creation of a short promotional clip and the construction of a simple website at a low cost, as funds will be required to launch the actual product. Once customers attempt to purchase, the website will represent an apology and a message stating that the registers are not currently available due to all recent bookings being full, with no option to continue. All the data from the click-through YouTube will help us have a realistic review about the viability and interest of customers in the believed existing product. In addition, surveys and advertisements via YouTube and websites that do not require user information make them more open to giving opinions and providing feedback on advertising. III.

Marketing Launch Plan

https://drive.google.com/file/d/1r2kl150iQ75BmZzv0d6mIi_QCahZ_Lg_/view?us p=sharing IV.

Conclusion

To sum up everything, in this report, we decided to bring our innovative idea Tasmania Hotel and Resort, to a more specialized and down-to-earth approach, and establish a clear direction and goals for the future operating process. To ensure the outcome of our new business plan, we have utilized the Market Engagement Hypothesis (MEH) and the 'preto-typing' strategy to plan out and then evaluate all

of our idea's potential to become "the best" in providing safe hospitality services during Covid-19 pandemic. Furthermore, we also included a cohesive infographic with ATAR and AIDA concepts to illustrate how our marketing communication strategies can successfully carry out our objectives. We believe that once being officially put into operation, Tasmania Hotel and Resort will open an entire innovation to real-world implementation in this pandemic situation.

Reference 1. Australian Government, 2020, Tourism investment monitor 2019–20 Australian tourism investment and COVID-19 impacts, viewed 4th August 2021, 2. Australia, T 2020, “Domestic market performance statistics - Corporate Tourism Australia,” www.tourism.australia.com, viewed 7 August, 2021, . 3. Crown Resort, 2020, Annual Report 2020, viewed 4th August 2021,

4. Deloitte Australia 2021, 2021 Millennial & Gen Z Survey | Deloitte Australia | Social impact, Innovation, Deloitte Australia, . 5. Diana Warren, Jennifer Baxter, Kelly Hand, 2020, Spending less, worrying more: How COVID-19 is impacting financial wellbeing, Australian Institute of Family Studies, viewed 3rd, August 2021, . 6. IBOJO, Bolanle Odunlami & ASABI, Oludele Matthew, “Impact of customer satisfaction on customer loyalty: A case study of a reputable bank in Oyo, Oyo State, Nigeria”, International Journal of Managerial Studies and Research (IJMSR), vol.3 7. Kelly, M & Hardy, D 2021, Beyond COVID-19: Rise of domestic travel and tourism in Australia, KPMG, viewed on 2 August 2021,

. 8. Pew Research Center 2021, Social Media Fact Sheet, Pew Research Center, viewed 6 August 2021, . 9. Savoia, A. 2011, Pretotype It: Make sure you are building the right it before you build it right, 2nd edn, pretotyping.org. 10.Statista 2021, Topic: Travel and tourism industry in Australia, Statista, viewed on 2 August 2021, . 11.Tarcomnicu 2017, How to Make a Crowdfunding Video People Actually Watch, Entrepreneur, viewed 6 August 2021, < https://www.entrepreneur.com/article/287665 >. 12.Thanh Son Le 2018, Eccological Architecture As A Forgotten Opportunity in Vietnam, ESCI, viewed 6 August 2021, ....