Market entry report for Taj Hotels Resorts and Palaces (THRP)
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- Assessment 1
- Individual Report
- 50% Weighting
- 2000 words
You are required to create a market entry report for Taj Hotels Resorts and Palaces (THRP).
Taj Hotels is one of the oldest Tata brands and veritable force in the hospitality sector in India. It has operations in 10 countries at present and 3 brands – Taj, Vivanta and The Gateway, each catering to a distinct segment, with a very distinct positioning.
The report will be an extensive analysis of the market of any country of your choice that you reckon is a viable option for THRP to expand its operation in.
The report will be a recommendation to the management of THRP making a business case for expanding operations to another country. Since the hotel already exists in 9 countries apart from India, ideally choose a country where the hotel is not present. If you do feel there Is a need for more properties in a country where the hotel exists already, you must have a validated and justifiable reason for this (based on primary and/or secondary data). Every argument must be supported with secondary or primary data. In-text citations using Westminster Harvard must be used. A reference list should be appended to the end of the report. You should use Mintel, news reports, journal articles, and primary data to support your claims.
For example; if you say – “a YouTube channel should be created to reach the target market in country XX.”
You should be able to back this up – what does the data say? Is the target market more likely to watch YouTube videos than say to see newspaper ads? Provide statistics or an article to substantiate your claims.
Introduction: A brief background of THRP
Highlight the country you have decided to make the recommendation for. The rest of the report will be a justification for the choice you have made.
Competitive Landscape: An Understanding of the competition. Use May use Porters 5 forces Model here.
Market Entry Mode: Licensing, JV, Acquisition, Wholly Owned Subsidiary, Franchise? Discuss why.
Segmentation, Targeting and Positioning: Identify the viable segments and target markets
Map which brand out of the three you will choose for the new market.
Cultural Considerations: Will the brand offering be customised? If so, how will the brand offering be customised to the new market (country)? Discuss briefly the cultural nuances of the country you are recommending for market entry.
Pricing: What are the pricing considerations that will dictate the pricing strategy based on regulations and culture?
Logistics & Location Recommendation
Promotional Strategy: What Promotional strategy will be used?
Conclusion: Summarise the report, highlight the important insights that support your decision.