Marketing Management In OYO

Added on - Nov 2020

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Marketing
management
Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing audit...........................................................................................................................3
Competitors analysis of the company.........................................................................................8
Marketing mix of OYO Rooms...................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
EXECUTIVE SUMMARY
The present assignment is based upon core concept of marketing management; the
approach is concerned with business discipline by using practical marketing techniques so as to
manage all marketing resources and activities. The coursework will be studied need of marketing
management within a business organisations. OYO is the chosen organisations for the present
report; its a leading hospitality industry of India. In order to promote itself over the world, the
firm is required to conduct effective marketing campaigns so as to gain high competitive edge
and market growth.
INTRODUCTION
In present scenario, globalisation has made international marketing management as a
fundamental aspect for the marketing strategy of the firm. Marketing management is a function
which needs to be fulfil by every business association at in the best possible way. Although, the
term marketing means to promote a product by recognising needs and wants of target audiences;
it is required so as to satisfy market needs. For effective marketing it is also essential for
management to make several strategies and policies so as to gain high competitive edge and
increase market share. Along with this, marketing management is a process of controlling a
product and then channel it in order to meet customers' desire. Its main objective is to make
decisions towards a product and formulating a framework to make profits through optimal
utilisation of available resources (Kotler, 2015). The entire assignment is based upon OYO
Rooms; it offers rooms at affordable prices that no other players in the budget segment offers
today. Apart from this, the report has described a marketing audit of the company so as to
determine all those factors which have a vast impact on growth and success of business
association. A competitors' analysis has been made by considering three major players of same
industry. Readers will also come to know about marketing mix actions in order to fulfil the gap
between present marketing strategy of the firm and external environment.
MAIN BODY
Hospitality can be defined as a kindness while welcoming guests, visitors or strangers. It
consists with relationship between host and guests or may be a practice of being hospitable.
Evidently hospitality industry is rapidly thriving over the world when other sectors are struggle
to regain from credit crunches and economic downturns. In India, number of visitors come every
year, in this manner hospitality industry act a major engine of economic growth amd improves
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country's image. The growth in hospitality industry and its contributions towards GDP are
continuously remain higher that helps in improving economic condition of the nation as well.
OYO Rooms is the selected organisation for this completion of this report; its an Indian
hospitality service and budget hotel network which was established in 2013 by Ritesh agarwal.
Since, the firm has grown to across more than 8000 hotels in 200+ cities of India, Nepal and
Malaysia. In late 2017, OYO launched OYO Home, an Airbnb-like marketplace for short-term
managed rentals. The firm focused on offerings hassle free and standardized experience of
staying at an unmatched price. In this manner, OYO provides same amenities and awesomeness
hotel experience over all its rooms. Along with a clean room, they also offer, or claim to offer,
quality and standardized services like in-room WiFi, breakfast, AC, backup power, etc at budget
prices. It means people feel in the same way as they feel at home. The business association uses
most advanced hospitality tech which gives shape to its operations. It introduced pioneering
technology so as to deliver better and efficient services, management and CRM. People can book
their orders or rooms through mobile apps of OYO in just just 3 steps or within 10 seconds.
Unlike any hotel chain, OYO doesn't operate and own most of its hotels, actually it ties
up with existing hotel chains and ensure to deliver defined quality to guests who book OYO. In
many cases, guests can book the same hotels through hotel aggregator websites or directly from
the hotel reservations desk, often at the same price (Belz and Peattie, 2012). However having the
brand gives the comfort of familiar brand and quality to guests.
Apart from this, in order to retain its top ranking from competitors. OYO is emphasised
on digital and mass marketing which aggressively leads customer acquisition. The brand claims
to have over 5 million active users of its mobile applications whereas the company also has
strong media presence on Facebook, i.e. more than 3 Lakh followers. It also organises marketing
and promotional campaigns on social media channels in order to attract more and more people.
Unique selling proposition of the company -
Finding hotels is not a big problem but finding the best one is; it encompasses with trust
factor. The founder of the company invested to provide standard hotel rooms over the nation.
The entire business model is rely upon customer experience by an innovative amalgamation of
digital technology and implementing quality control measures which supports to improve
customers' experience in a certain time period. The brand has a tie up with Airtel so as to deliver
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