(TIỂU LUẬN) MID TERM ASSIGNMENT major marketing tourism

HỒ CHÍ MINH CITY UNIVERSITY OF FOREIGN LANGUAGES – INFORMATION TECHNOLOGY FACULTY OF TOURISM - HOSPITALITY MID TERM ASSIGNMENT Major: Marketing Tourism Lecturer: Nguyễn Thị Mộng Ngọc Group: AWESOME KNIGHTS Student identification number of the group leader: 19DH170371 Class: KS1901 Hồ Chí Minh City, 28/11/2021 HỒ CHÍ MINH CITY UNIVERSITY OF FOREIGN LANGUAGES – INFORMATION TECHNOLOGY FACULTY OF TOURISM - HOSPITALITY MID TERM ASSIGNMENT Present Part II of the marketing plan - Situation analysis (environmental analysis) applying the relevant theories have been learnt so far Major:Marketing Tourism Lecturer: Nguyễn Thị Mộng Ngọc Group: AWESOME KNIGHTS Student identification number of the group leader: 19DH170371 Class:KS1901 Hồ Chí Minh City, dd/mm/yy LIST OF MEMBERS No Stu INSTRUCTOR’S COMMENTS LIST OF TABLES AND FIGURES Note: this list will be only available if there is any table, figures are presented in your assignment Hinh 1 Vietnam's age structure Hinh Distribution of occupations by age group 1.1/Demographic 1.2/Economic 1.3/Political 2.1 2.2 2.3 Macroenvironment 1.1 /Demographic v Age : Vietnam's age structure: Hinh 1 Vietnam's age structure v Sex: The sex ratio in the total population is 0.997 (997 males per 1,000 females) lower than the global sex ratio The global sex ratio in the world in 2020 is about 1,017 males per 1,000 females v Job : Hinh Distribution of occupations by age group v Income : Average monthly income of employees: Average monthly income of employees in the second quarter of 2021 reached VND 6.1 million The average monthly income of male workers is 1.44 times higher than that of female workers (7.1 million VND compared to 4.9 million VND) The average income of workers in urban areas is 1.41 times higher than in rural areas (7.5 million VND compared to 5.3 million VND) In the second quarter of 2021, most economic sectors recorded a decrease in the average income of workers compared to the previous quarter Employees working in the industry and construction sector were most affected in terms of income with the average monthly income reaching VND 6.7 million, down 464 thousand VND, equivalent to a decrease of 6.5% compared to the previous quarter Prior to Workers in the service sector with an average income of 7.2 million dong, down 291 thousand dong, equivalent to a decrease of 3.9% Particularly, the average monthly income of workers in the agriculture, forestry and fishery sector reached 3.7 million VND, an increase of 80,000 VND, equivalent to an increase of 2.2% v Some more information: ¾ Psychology of Vietnamese tourists by region: *Northern guests: Pay much attention to the form and space of the hotel Everything needs to be neat and orderly, so when choosing a service, they also consider high aesthetics Often travel in summer and major holidays, long holidays such as New Year’s Eve, Lunar New Year, April 30, May 1, and September 2nd Get in the habit of organizing your own tour instead of going through a travel agency *Southern guests: No formality, like minimalism Love the modern, new; enjoy the entertainment and enjoy the service Price is the most important factor when choosing a service, followed by location, advice from acquaintances, information on the Internet Usually like to eat sweet, colorful food… *Central guests: Generous temperament, straightforward, outspoken, hot-tempered but quickly cools down Good at calculating, managing, and spending money, so travel less When you go, choose carefully so that the trip is meaningful but economical, prioritize cheap prices, many incentives, and good quality I like spicy food more than the other 1.2 /Economic The Covid-19 pandemic with its complicated and difficult-to-control developments has severely affected all global economies Consumer trends: unstable employment and falling household incomes will force consumers to re-evaluate their values and priorities as well as embrace new consumption habits The need to improve the quality of life is reduced Travel businesses, restaurants and hotels are on the verge of bankruptcy 1.3 /Political The special feature of the main value - the law With the view that Vietnam wants to make friends with all countries in the world: v Egardless of social location, color, religion cooperate for mutual benefits, can not work on each other's work, settle disputes by peaceful means Consistent policy that promotes investment in hotels also promotes international tourists to Vietnam v Especially in 1999, the main government has a national action plan on tourism, the beginning of tourism decree That's the underlying theory v Helping develop the tourism - hotel industry v The VIII Party Congress determined "Rapid development of tourism and services - gradually turning our country into a center of tourism, trade and service of great caliber.in the area " v However, due to the new transformation of the commodity economy, it operates under the market mechanismschool The awareness of all levels of sectors about the role of tourism in the national economy is still limited The lack of synchronization in the legal documents on the hotel business Inconsistencies in general terms such as the content of terms in the hotel business are reflected in the ordinance v Tourism has led to the unhealthy business of economic sectors with the hotel business Thus, political stability and legal consistency will promote the development of the hotel industry In their business strategy, specialized managers must study carefully Because it affects the hotel business process The deep and thorough awareness of the law allows hotel businessmen to business in accordance with the law and take full advantage of legal loopholes that always benefit the hotel without breaking the law 1.4/Ecological Natural environment: Located in Southeast Asia, our country has a pleasant climate, less earthquakes or tsunamis, favorable rain and wind, which is the best condition for businesses to operate in the future long 1.5/Culture – social The Vietnamese community has 54 different ethnic groups, which means 54 different cultures From there, we can see that our country has a rich and diverse culture It is one of the resources (tourism resources) promoting tourism development Changes in lifestyle, psychology, ethical standards, consumption habits will have certain impacts on tourism and hotel business activities Socio-cultural factors strongly influence hotel business Therefore, in the process of developing their business strategy, it is necessary to build a healthy cultural feature in the hotel, build a hotel design imbued with national identity Thereby creating the background of the Hotel and motivating people to come and consume the hotel's products 1.6/Technology The remarkable development of science and technology in the past few decades has led to a brilliant development of the world economy Economic development increases people's income and promotes travel demand Not only scientific and technological factors affect the economy and promote tourism demand, but it also affects the equipment, technical facilities in the hotel business Because travel demand is high-end demand Therefore, the equipment in the hotel business is increasingly being renewed and upgraded That innovation and upgrade requires large capital, so in the process of building a business strategy, it is necessary to carefully study which equipment to apply, when to upgrade In order for the equipment in the hotel not to be too outdated compared to the world and depending on each guest, the equipment has different levels of modernity The current state of equipment at Saigon Hotel is relatively modern to meet the needs of visitors Microenvironment 2.1 Strenghts Facilities meet 5-star standards - With the finest comfort equipment systems, it may be used as an isolation facility in case of need Dynamic and experienced staff - Highly skilled employees through training and advanced learning programs on skills in handling infections of Covid 19 Flexible business structure - Not only helps tourists relax and entertain, but also organize events, meetings and seminars Convenience services – Sheraton Saigon Hotel provides the best services to customers, creating a sense of comfort and safety 2.2 Weakness One of the biggest weaknesses is that the hotel's products only target customers who are businessmen, heads of state, politicians (high-class customers) without really paying attention to ordinary customers For a developing country like Vietnam, the number of ordinary customers accounts for a very large number The price is a little expensive compared to other hotels The payment of service fees is still limited Currently, the hotel only accepts payment by cash or other cards, while many tourists need to pay by bank transfer, but this type of service has not been put into service Service fees are higher than competitors of the same type Sheraton hotel does not organize isolation for F0 like other hotels Around the end of May, the hotel had a case of covid-19, so it had to be temporarily blocked 2.3 Opportunities External Strategic Factors * New trends in the consumer behavior can open up new market for the Sheraton It provides a great opportunity for the organization to build new revenue streams and diversify into new product categories too * Decreasing cost of transportation because of lower shipping prices can also bring down the cost of Sheraton’s products thus providing an opportunity to the company either to boost its profitability or pass on the benefits to the customers to gain market share 10 * New customers from online channel – Over the past few years the company has invested vast sum of money into the online platform This investment has opened new sales channel for Sheraton In the next few years the company can leverage this opportunity by knowing its customer better and serving their needs using big data analytics * The market development will lead to dilution of competitor’s advantage and enable Sheraton to increase its competitiveness compare to the other competitors * Organization’s core competencies can be a success in similar other products field A comparative example could be - GE healthcare research helped it in developing better Oil drilling machines * Government green drive also opens an opportunity for procurement of Sheraton products by the state as well as federal government contractors * Opening up of new markets because of government agreement – the adoption of new technology standard and government free trade agreement has provided Sheraton an opportunity to enter a new emerging market * Stable free cash flow provides opportunities to invest in adjacent product segments With more cash in bank the company can invest in new technologies as well as in new products segments This should open a window of opportunity for Sheraton in other product categories Following are the Opportunities in Sheraton SWOT Analysis: • Scope of expansion in affordable luxury • High growth of hospitality business in developing markets • Scope of development of luxury consumer goods and promotion 2.4 Threats Sheraton's competitors: New World: 76 Le Lai Street, District 1, HCM City New World Saigon Hotel offers over 2000 square feet of unique and functional spaces for business and social events Park Hyatt: Lam Son Square, District 1, HCM city Park Hyatt Saigon Hotel consists of 245 rooms with exquisite French architecture All rooms are equipped with modern amenities: ipad mini, smart touch light system, coffee machine, … Palace: 66 Nguyen Hue street, Ben Nghe District 1, HCM city Caravelle :19-23 Lam Son square, Ben Nghe, District 1, HCM city 11 Ø Emerging competitors: - Fusion Suites Saigon Hotel: Located within 300 meters from Tao Dan Park in District - The Myst Dong Khoi Hotel: With classic modern interior and design, The Myst Dong Khoi offers sophisticated accommodations in the heart of District in Ho Chi Minh City Ø Theats with the COVID-19 pandemic situation in Vietnam: The covid-19 pandemic has caused the hotel to almost freeze in business, because a large source of customers is from foreign tourists traveling in HCM city Ø - Maitain the operation of the hotel - Costing more money for staffs to test for Covid-19 every week - Amounts of money to support staffs in Covid-19 pandemic How to attract tourists: Retaining customers during the epidemic season is extremely important, promoting the hotel's image on forums, social networks, hotel booking software; must invest in customer service; Spread the positive image of the hotel's quality image, customer satisfaction with the service of hotel staff Ø Diversify customers: Customers are an important factor for the success of the business The hotel not only focuses on serving international customers but also meets the entertainment and entertainment needs of domestic customers Sheraton's goal in the future is to constantly improve the reputation and outstanding service quality, to preserve the beautiful image of the hotel for the target public, in order to increase profits 12 A list of references Main sources: Sheraton SWOT Analysis / Matrix http://fernfortuniversity.com/term-papers/swot/1433/1407-sheraton.php Other resources: Building business strategy at Sherton Saigon Hotel https://www.tailieudaihoc.com/doc/129346.html Business performance of Park Hyatt by comparing brands: Park Hyatt, Sheraton, New World https://dackhuphuquoc.vn/hieu-qua-kinh-doanh-cua-park-hyatt-qua-so-sanh-3-thuonghieu-park-hyatt-sheraton-new-world/ Current consumer trends change business models http://moit.gov.vn/tin-tuc/bo-cong-thuong-voi-doanh-nghiep/xuhuong-tieu-dung-hien-dai-lam-thay-doi-mo-hinh-kinh-doanh-.html Group discussion on business strategy analysis of Sheraton Saigon Hotel & Towers https://text.xemtailieu.net/tai-lieu/thao-luan-nhom-de-tai-phan-tich-chien-luoc-kinhdoanh-cua-khach-san-sheraton-sai-gon-towers648302.html?fbclid=IwAR39ujMncUv5y0KNmDDwhl_ozF583og5R4SAknXHDU224 WH3gd6lhFraM-4 Psychological characteristics of customer tourism https://www.hoteljob.vn/tin-tuc/dac-diem-tam-ly-khach-du-lich-viet-nam 13 ... OF TOURISM - HOSPITALITY MID TERM ASSIGNMENT Present Part II of the marketing plan - Situation analysis (environmental analysis) applying the relevant theories have been learnt so far Major: Marketing. .. plan on tourism, the beginning of tourism decree That''s the underlying theory v Helping develop the tourism - hotel industry v The VIII Party Congress determined "Rapid development of tourism. .. role of tourism in the national economy is still limited The lack of synchronization in the legal documents on the hotel business Inconsistencies in general terms such as the content of terms in