harness the power of viral marketing in hotel industry: a network discount strategy
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Harness the power of viral marketing in hotel industry: a network discount strategyTRANSCRIPT
Harness the power of viral marketing in hotel industry: a
network discount strategy
Group 10
• Online advertising campaigns and messages that uses social network which depends on peer to peer forwarding to spread like a virus.
video
Audio
Flash
Joke
CREATIVITY
Evian roller babies international version
Why Viral Marketing?
Opportunity for differentiation
Traditional advertising Vs. Viral marketing
Reach a large audience
More credibility
Better return on investment
Viral marketing mainly use for
Increase brand awareness.
Achieve other marketing objectives such as product sale.
Internet searching engine
Mobile smart phone integration
Free email services
Social network
Through famous websites.
You Tube
Uses of viral marketing
Social networks used in viral marketing
Uses of viral marketing
1. Viral marketing provides a reciprocal benefit to message sender and receiver
2. Network discount strategy
Television commercial of coca-cola polar bears
3.Network externality THREE REASONS FOR NETWORK
EXTERNALITY Nature of the influence episode Role of the influencer Quantity pricing strategy
Quantity based sales in viral marketing have identified hotel industry as the ideal context
This is because of three reasons1. Customers are acceptable to the dynamic
pricing strategies when making purchase decisions
2. Control of inventory and price integrity
3. Pricing strategy
viral marketing
In Internet and online advertising viral marketing is a type of marketing technique that relies on and encourages people to pass along a marketing message by word-of-mouth (or word-of-e-mail) marketing.
viral marketing in Hotel Industry
Viral Marketing is used for promotion messages through their social networks.
social networks which use in hotel industry
• FACEBOOK• TWITTER• Word of mouth• YouTube• Google+• FOURSQUARE
Facebook is one of social media which helps to present hotel brand, events, promotions, local activities/events and hotel features and services to future visits.
• Posting about local attributes such as tourist spots, restaurants and events are as critical as responding to a customer complaint through Twitter.
Word of mouth
• Word of mouth is one of the most powerful forms of viral marketing
Viral MarketingVs
Traditional Mass Media
Cost
Social Interaction
Interactivity
Target Market
Customer Services
There are Five main advantages:
Cost
“Reducing Advertising Cost by using
social networks”
Social Interaction
“People spend time with Social Media related to Internet
rather than traditional mass media”
Interactivity
“How many times one customer going through the particular media”
Target Market
“When go through internet, You can clearly identify needs and attributes of your Customer”
Customer Services
We’re Here to help..!!
• Online Payment System
• Customer Care
• Credit Card Facilities
PRACTICE OF USING DISCOUNT AS A MEANS TO INFLUENCE BUYER’S
PURCHASE BEHAVIOUR
DISCOUNT
IS AN ALLOWANCE OR CONCESSION IN PRICE
WHY ???DEPENDS ON THE TYPE OF DISCOUNT GIVEN
TYPES OF DICOUNTS
DISCOUNTS
CASH DISCOUNT TRADE DISCOUNT
PURCHASING BEHAVIOUR
THE STUDY OF WHEN, WHY, HOW, WHERE, WHAT PEOPLE MAKE TO BUY OR NOT TO BUY A PRODUCT
FACTORS AFFECTS:- • CULTURAL FACTORS•SOCIAL FACTORS•PSYCHOLOGICAL AND PERSONAL FACTORS
RELATIONSHIP
VIRAL MARKETING IN HOTEL INDUSTRY
WHY VIRAL MARKETING IS IMPORTANT TO HOTEL INDUSTRY
A large portion of the target audience is already online.Many properties can leverage existing networks for success.It engages users around their passions.Can reduce promotion cost.
We went for a breakfast at coffee shop at Galadare hotel to celebrate our mothers birthday. Breakfastwas very nice & so many varieties. All staff members were very friendly & helpful , especially who are at the action station making pan cakes were very supportive.We got separate lobby table to celebrated b’ day &got a delicious cake as we ordered. If you wish to find a good place to celebrate a birthday you should not miss the galadare hotel. Our sincere thanks to all the staff.
Shiro Niro (Face book)
Customer base is high
More customer, More ordersLarge discount
Customer base is low
Less customer, Less ordersSmall discount
Experiment Design
PRICING STRATEGY FOR HOTELS
Before implementing the pricing strategies it is important to measure demand elasticity and then can predict the best price to charge for hotel
rooms.
The important thing is that hotels need to be able to have a ‘price varying’ pricing strategy without upsetting their customers.
Eg: Park Plaza Westminster Bridge London
Month of July Month of November
ONLINE BOOKING SYSTEM FOR HOTELS
Effect Of
Viral Marketing
Positively…
Negatively…
Thank you