Analysis Of Marketing Strategies In Efforts To Increase Market Comes Of Case Study Companies: Grand Swiss-Belhotel Medan
Analysis of Marketing Strategies in Efforts to Increase Market Share of Case Study Companies: Grand Swiss-Belhotel Medan
Introduction
In today's highly competitive business environment, companies must continually adapt and innovate their marketing strategies to stay ahead of the competition. The hospitality industry is no exception, with hotels and resorts constantly vying for market share and customer loyalty. One such company is Grand Swiss-Belhotel Medan, a five-star hotel located in Medan, Indonesia. With a market share of 23.49% in 2009-2010 and a room occupancy rate of 71.25% in 2012, Grand Swiss-Belhotel Medan has established itself as a major player in the Medan hospitality industry. However, with the emergence of new competitors, the hotel faces increasing challenges in maintaining and improving its market share. This study aims to evaluate the marketing strategy of Grand Swiss-Belhotel Medan and provide recommendations for increasing its market share.
Background of the Study
Grand Swiss-Belhotel Medan is a five-star hotel located in Medan, Indonesia, and began operating on September 23, 2008. The hotel is managed under the management of Swiss-Belhotel International, offering 242 rooms for guests. During the period 2009 to 2010, the Grand Swiss-Belhotel Medan managed to occupy the second position among five-star hotels in Medan, with a market share of 23.49%. In 2012, the hotel recorded the highest room occupancy rate with 71.25%. However, the situation of competition is getting tougher, especially with the emergence of new competitors, so that it becomes important for this hotel to maintain and improve its market share.
Research Methodology
The research method adopted is qualitative, presented descriptively to provide a clear picture of the marketing strategy used. The analysis tools applied include several important stages:
Internal Factor Evaluation (IFE) Matrix
The IFE matrix is used to assess the strengths and weaknesses of the hotel's internal factors. This includes evaluating the hotel's resources, such as its physical facilities, human resources, and financial resources. The IFE matrix helps to identify areas where the hotel can improve its internal factors to increase its market share.
External Factor Evaluation (EFE) Matrix
The EFE matrix is used to analyze opportunities and threats from the external environment. This includes evaluating market conditions, consumer behavior, and competitor activity. The EFE matrix helps to identify areas where the hotel can improve its external factors to increase its market share.
SWOT Matrix
The SWOT matrix is used to match internal and external factors, so that the right strategy can be obtained. This includes identifying the hotel's strengths and weaknesses, as well as opportunities and threats from the external environment. The SWOT matrix helps to identify areas where the hotel can improve its marketing strategy to increase its market share.
Research Result
The results showed that the promotional factor had an less significant influence on the level of room occupancy, with a value of 2.68. In-depth analysis using the IFE and EFE matrix shows that external factors, such as market conditions and consumer behavior, have greater influence than internal factors, such as resources and strategies applied by hotel management.
Conclusion and Recommendations
From the results of the study, it is recommended that the Grand Swiss-Belhotel Medan strengthen their marketing strategy, especially in terms of promotion. This can be done through increasing digital marketing activities, collaboration with online booking platforms, as well as loyalty programs for guests. By optimizing external factors that can increase the attractiveness of the hotel, it is hoped that the Grand Swiss-Belhotel Medan market share can increase significantly.
Implications of the Study
This study has several implications for the hospitality industry. Firstly, it highlights the importance of marketing strategy in increasing market share. Secondly, it emphasizes the need for hotels to continually adapt and innovate their marketing strategies to stay ahead of the competition. Finally, it provides recommendations for hotels to improve their marketing strategy, such as increasing digital marketing activities and collaboration with online booking platforms.
Limitations of the Study
This study has several limitations. Firstly, it is a case study of a single hotel, which may not be representative of the hospitality industry as a whole. Secondly, it relies on secondary data, which may not be up-to-date or accurate. Finally, it does not consider the impact of external factors, such as economic conditions and government policies, on the hotel's market share.
Future Research Directions
This study provides several avenues for future research. Firstly, it highlights the need for further research on the impact of marketing strategy on market share in the hospitality industry. Secondly, it emphasizes the need for research on the effectiveness of digital marketing activities and collaboration with online booking platforms. Finally, it provides opportunities for research on the impact of external factors, such as economic conditions and government policies, on the hotel's market share.
Conclusion
In conclusion, this study provides a comprehensive analysis of the marketing strategy of Grand Swiss-Belhotel Medan and provides recommendations for increasing its market share. The study highlights the importance of marketing strategy in increasing market share and emphasizes the need for hotels to continually adapt and innovate their marketing strategies to stay ahead of the competition. The study also provides implications for the hospitality industry and highlights several avenues for future research.
Q&A: Analysis of Marketing Strategies in Efforts to Increase Market Share of Case Study Companies: Grand Swiss-Belhotel Medan
Q: What is the purpose of this study?
A: The purpose of this study is to evaluate the marketing strategy of Grand Swiss-Belhotel Medan and provide recommendations for increasing its market share.
Q: What is the research methodology used in this study?
A: The research method adopted is qualitative, presented descriptively to provide a clear picture of the marketing strategy used. The analysis tools applied include several important stages, such as Internal Factor Evaluation (IFE) Matrix, External Factor Evaluation (EFE) Matrix, and SWOT Matrix.
Q: What are the key findings of this study?
A: The key findings of this study are that the promotional factor had an less significant influence on the level of room occupancy, with a value of 2.68. In-depth analysis using the IFE and EFE matrix shows that external factors, such as market conditions and consumer behavior, have greater influence than internal factors, such as resources and strategies applied by hotel management.
Q: What are the recommendations for Grand Swiss-Belhotel Medan based on the findings of this study?
A: The recommendations for Grand Swiss-Belhotel Medan based on the findings of this study are to strengthen their marketing strategy, especially in terms of promotion. This can be done through increasing digital marketing activities, collaboration with online booking platforms, as well as loyalty programs for guests.
Q: What are the implications of this study for the hospitality industry?
A: The implications of this study for the hospitality industry are that marketing strategy is a critical factor in increasing market share. Hotels must continually adapt and innovate their marketing strategies to stay ahead of the competition.
Q: What are the limitations of this study?
A: The limitations of this study are that it is a case study of a single hotel, which may not be representative of the hospitality industry as a whole. It also relies on secondary data, which may not be up-to-date or accurate.
Q: What are the future research directions based on this study?
A: The future research directions based on this study are to further research on the impact of marketing strategy on market share in the hospitality industry. It also emphasizes the need for research on the effectiveness of digital marketing activities and collaboration with online booking platforms.
Q: What are the benefits of this study for Grand Swiss-Belhotel Medan?
A: The benefits of this study for Grand Swiss-Belhotel Medan are that it provides a comprehensive analysis of their marketing strategy and provides recommendations for increasing their market share. It also highlights the importance of marketing strategy in increasing market share and emphasizes the need for hotels to continually adapt and innovate their marketing strategies to stay ahead of the competition.
Q: What are the benefits of this study for the hospitality industry?
A: The benefits of this study for the hospitality industry are that it provides a comprehensive analysis of marketing strategy and its impact on market share. It also highlights the importance of marketing strategy in increasing market share and emphasizes the need for hotels to continually adapt and innovate their marketing strategies to stay ahead of the competition.
Q: What are the benefits of this study for researchers?
A: The benefits of this study for researchers are that it provides a comprehensive analysis of marketing strategy and its impact on market share. It also highlights the importance of marketing strategy in increasing market share and emphasizes the need for hotels to continually adapt and innovate their marketing strategies to stay ahead of the competition.
Q: What are the benefits of this study for students?
A: The benefits of this study for students are that it provides a comprehensive analysis of marketing strategy and its impact on market share. It also highlights the importance of marketing strategy in increasing market share and emphasizes the need for hotels to continually adapt and innovate their marketing strategies to stay ahead of the competition.