1.0 Executive Summary
As of late 2013, Golden Palm Tree Iconic Resort & Spa will be undergoing a rebranding exercise that will result in name change to AVANI Sepang Goldcoast Resort because of the joining to AVANI Hotels & Resorts. (Golden Palm Tree Resort & Spa Sdn Bhd, 2013) The group is now investing heavily in infrastructure as well as in building new hotels and resorts whilst renovating and refurbishing existing properties. However, they still lack other value additions like restaurants, sports and recreational facilities, reliable public transport and other add-ons that are vital to support the industry. (AVANI Bentota Resort & Spa, 2011/12)
Besides, attracting and retaining the best in every field of the business is at the core of their HR strategy and adding value to employees via training is imperative. Therefore, Human Resource development is critical to enable the provision of excellent and professional guest services. It is a must to establish hotel schools and training establishments. (AVANI Bentota Resort & Spa, 2011/12)
Asia is poised to become a major force in world tourism with China and India leading the way. The expectations of the travellers from this region are different to those of the European markets that the group’s hospitality industry has been accustomed to. Their language, cuisine and habits vary, and as such, the industry needs to respond to the changing requirements of their visitors. The high spending Chinese market is also one the group must work on to capture; this will be no easy task as the brand conscious, tech oriented Chinese traveler who spends the bulk of his holiday budget on shopping will currently find little of interest locally. Specialized products like theme parks, soft adventure and sports tourism need to be developed including restaurants, high-end shopping malls and entertainment centers. (AVANI Bentota Resort & Spa, 2011/12)
2.0 STP Analysis
It is a must for us to understand what is STP Analysis, also called strategic marketing whenever we started to figure out about marketing (4P). In marketing, STP stands for market segmentation, targeting or target market selection and product positioning. Generally, it is an analytical approach that helps the organization make important ‘where’ (target market selection) and ‘how’ (product positioning) to compete marketing strategy decisions. (Market Segmentation Study Guide, 2012) In short, STP Analysis helps to find a correct segment in which to market our product, identifying the proper target market and positioning the product to create maximum profits. (Higley, 2013)
Segmentation always comes first to the process of STP analysis; it’s a common technique that’s normally engaged by the companies that have large and varied marketplace in order to view different consumer needs and categories in the overall market. In another word, it is also assisting to organize the total marketing into smaller groups of customers with shared traits or interests to enable efficiency and effective advertising. (Kokemuller, 2013) There are number of approaches as segmentation variables to segment the market and it should be measurable, sizeable and reachable, some of the examples are show as following:
This approach divides markets into different geographic units; these
units included regions, countries, city or town size, population density
This approach consists of dividing the market into groups based on
variables such as age, gender, family size, family life cycle, income,
occupation, education, religion, race and nationality. This is one of the
most frequently employed segmentation variable because its ease of
measurement and high availability.
Nevertheless, people in the same demographic...
Please join StudyMode to read the full document