Market analysis is the most important part of the feasibility
study since the rest of the activities are done according to the results
obtained from market analysis. The results of market analysis can be summarised
as follows:
* In Ankara, there are a wide variety of hotels including
very luxurious 5 star hotels and also cheap and unqualified ones. According
to the market research it is observed that our market target, who are the
graduates of METU, are staying in luxurious hotels like Hilton, Sheraton
and Bilkent Hotel when they visit Ankara. So the competitors will be these
luxurious but expensive hotels. The target market is segmented to only
the graduates and their families. This restriction has both advantages
and disadvantages. While the disadvantage is reducing available market
size, the advantage of this restriction is the quality and income level
of customers.
* In determination of the expected demand the market
research results obtained from the conducted survey with graduates and
data form Alumni Centre are used. According to these information expected
demand and number of guestrooms in the hotel are determined.
The calculation of expected demand is as follows:
* First the number of graduates from METU are obtained
from Alumni Centre (N).
* A survey with X graduates is done. From the survey
how many times a graduate visits Ankara (A), and in what percent of their
visits they accommodate in a hotel is found. (B).
* The average values of A and B is obtained for the
X graduates conducted.
* Daily expected demand (D) is found as follows:
D = A * B * N / 365
* Daily expected demand obtained is used in finding
the number of rooms needed to accommodate these people. In determining
the number of rooms, area restrictions are also taken into account.
* According to the results obtained from the survey
(which will be explained in detail later) the qualifications of the hotel
like facilities, activities and in-room specifications that will be involved
are obtained. These results are used in determining the investment and
operational costs of the hotel and so give an insight about the price of
the hotel.
For determining the price also a market research is
done to learn the prices of hotels which are considered to be the competitors
in the future.
The results of the financial analysis (that will be
explained later) done and the competitors’ prices are evaluated and price
policy of the hotels is determined.
* The determination of the number of the rooms in
different kinds (1-person, 2-person, suite 9 is necessary for the price
policy, hotel design and cost determination. In order to find the number
of each kind of rooms, whether the graduates accommodate as groups or singles
is asked in the survey and a percentage is obtained.
* Since the market targets are the graduates, the
marketing strategy is formed for informing them on the existence of the
new hotel and attracting them. The best tool in informing them is their
e-mails, which are available in Alumni Centre. The aim in doing this, hotel
is “ supplying best quality service that will serve to the needs of graduates
with minimum prices ”. As a marketing strategy, it is important to tell
this approach to the people and remind them that the profit gained from
this hotel will return to METU. Knowing this, if a qualified service with
competitive prices is served to graduates they are expected to prefer Alumni
Hotel rather than the others.
* The advertisement of hotel will be done via e-mails
to the graduates. The pictures and the qualifications of hotel with its
price will be sent with the mails. Also a web page, which includes video-film
of the hotel that will show all parts of the hotel, will be prepared and
put on the web. Catalogues of the hotel that will be formed and distributed
in METU Congress Centre and Alumni Centre will be another tool of advertisement.
These marketing activities will serve negligible costs.
* The most crucial tool applied in doing marketing
analysis and search was the survey applied. The survey(can be seen by clicking
here:link to the
survey) is inserted to the the group web page.
In evaluating the survey most demanded facilities
business and in-room activities listed are selected and applied in the
hotel.