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Hotel Industry in Songdo in South Korea - Essay Example

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Summary
For any business to succeed and to retain its position in the market where competition is increasing in the form of new entrants in the market or other market trends like recent recession, it is essential to take decisions through proper strategic plan of action…
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Hotel Industry in Songdo in South Korea
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Hotel Industry in Songdo in South Korea

Download file to see previous pages... So in today's world of business amidst red ocean strategy, it is necessary to adopt appropriate marketing method to promote your business through various tools and techniques in order to attract more and more customers. (Kim and Renee, 2005)1
Singapore which is renowned international business hub known for its world class infrastructure facilities is also a growing tourist destination. In a study, it is identified that hotels of Singapore have adopted and integrated information technology into their marketing strategy which was successfully incorporated the technology into their marketing campaign. (Choon - Chiang Leong, 2001)2 Similarly Songdo International City which is touted as the next Asian business hub is attracting numerous international ventures to start their businesses of all types as the city provides best infrastructure, facilities along with diverse customer base. Songdo International City is planned in such a way that good portion of the place is given for the establishment of hotels only. (http://www.songdo.com) So the industries trying to open their hotel in Songdo city can ask nothing better than this. In order to support the decision of opening a new hotel at Song do and to decide on which strategic marketing method to use for the promotion of the hotel, two reputed hotels were selected for the purpose of interview. The present chapter consists of analysis of the interview through comparison of both the hotels strategy of approach towards marketing and how do they manage to attract customers.
Data Analysis
Rutherford and O'Fallon (2007) states that as strategic marketing is umbrella to lot many marketing methods, but strategic marketing for the hotel industry should be limited to its realms and genesis only. Further the argument of Fetch Waller was also highlighted by Rutherford and O'Fallon stating that definition of marketing should be broadened in order to include all the operational aspects of the hotel. Moreover Waller reiterates illustrated the relationship between marketing and operations as a continuing process without which the hotels cannot remain competitive. As hotels are 24/7 business, it is necessary to evolve , innovate and adopt new marketing strategy each and every time in order to stay in and above the competition. 3
The interviews were conducted in the marketing and sales department of two hotels situated in Songdo City namely 'Ramada' and 'Best Western Premier Songdo Park Hotel'. When asked about the motive behind establishing a hotel in Songdo city, both the personnel representing their respective hotels replied that the place is hub of business and will turn into Asia's next business hub that will attract lots of businesses, which means many more conglomerations, seminars, and other business related activities. (Interviewee Jang and Jang, 2009) So it is clear from the above details that it is a place where most of the business happens and target customers are the business organizations for the present and in near future as well.
Regarding difficulties in establishing the business in Song-do, the Ramada hotel representative stated that the hotel is actually a takeover of the already established hotel with little bit of renovation but representative of the Best Western Hotel stated that they had to struggle to get the license for the casinos and other gambling games which limited their targeted customers to only business and tourists as casinos and gambling are not the integral part of the Korean culture. This statement ...Download file to see next pagesRead More
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