MARKETING

Market Research

Market Research

Boutique Accommodation

Key Research Objectives

Prospects of Successful Entry in Boutique Accommodation Industry

Purchasing Process

Competitors

Level of Demand

Brands versus Product Labeling

Prospects of Successful Entry in Boutique Accommodation Industry

Any new venture requires having a feasibility check. We should check for the factors that could influence sales of our Products. The goal of this objective is to help me decide whether the specific market has chances for Long term Growth. Whether, our products will be taken favorably or not. This objective would give me a clear direction for successful entry in the new market.

Purchasing Process

I will be looking at the purchasing process initiated by various Organizations dealing in Boutique Accommodation. The nature of their purchasing process would help me decide how to go about our Purchasing process. Without studying the nature of purchasing process, we would not be able to enter the new market successfully. Even if the prospects are bright but if we do not check on the nature of purchase, it would become a hurdle in the successful entry.

Competitors

Competition is a highly dominating force in all industries. We need to look at the competitor's practices in the new Industry. It would help us not only in devising strategies for tackling with competitors but also initiate our own practices in line with them. The level of Competition prevalent in the new market would have a big contribution in our final decision of entering the new market.

Level of Demand

Products with no demand are bound to fail. We need to carefully analyze the level of Demand prevalent in the market. Ascertaining demand for our products would help us in catering to our clientele in a befitting manner. Customer is the king. Thus having an idea about the demand for our products is very important.

Brands versus Product Labeling

It is very essential to find out whether Boutique accommodations use their own brands for customer attention or product labeling. Every Boutique accommodation would have a different approach. Some might emphasize on the role of brand names, whereas others would look to focus on Product Labeling. Careful Analysis would help us decide whether to go for Brands or Product Labeling.

Groups of Respondents

Every Research targets a certain category of Respondents. It is not possible to cover all respondents. The following industries are involved in the Accommodation Industry:

Hotels

Guest Houses

Clubs

We would conduct a survey and target the Managers for getting the desired Information. Since Managers are the key decision makers in an Organization, our survey will focus on their opinions and experiences. They are the most important people responsible for the successful operations of the Organization. Another reason is that Managers are responsible for Strategy Development. Their knowledge and expertise would be an important contributor our research purposes.

This information would help us targeting our respondents in an ideal manner. Their opinion would help us in creating our own niche market. They would be aware of the intricacies related to this specific ...