Ginger Hotels
GINGER HOTELS:
PRICING MIX AND STRATEGIES AND THEIR EFFECTIVENESS
(In assistance with Dr. Avinash Kapoor)
BY:
ROHIT SHARMA 11P161
S.P. KALYAN 11P162
SANCHIT VERMA 11P163
SAURABH MANDHANYA 11P164
No. of words: 7029 SHAFALI SUBRAMANIAN 11P165
EXECUTIVE SUMMARY Our study has been conducted on the ‘Pricing strategies employed by Ginger Hotels, India and their effectiveness’ in order to identify the different pricing method that are implemented by Ginger Hotels and study their differentiating factors with regard to the other players in the hospitality sector. We further attempt to establish if these pricing methods bring the customers to satisfaction. This is how we measure the effectiveness of the pricing techniques.
The Indian hospitality sector encompasses many different services. These include lodging, restaurants, event planning, tourism etc. Among these, Ginger Hotels focuses primarily on lodging. Ginger Hotels is a Tata Enterprise, which differentiates itself from the rest of the Tata Group Hotels by being a ‘Smart Basics Hotel’. Their prime focus is on providing key facilities that meet the key needs of the customer. This model enables them to maintain economic rates, thus making them a low cost budget hotel. The different players in this budget hotel segment implement a competitive pricing methodology. Apart from this Ginger uses other pricing techniques to attract their target markets. These pricing methodologies are also used to increase the customer lifetime value.
Our analysis starts with a study of the different price strategies commonly used in the services and hospitality sector. These include competition-driven pricing, customer-driven pricing, price-ending strategy, yield pricing and dynamic pricing.
Our hypotheses attempts at establishing that, in the case of budget hotels such as Ginger Hotels, among the ‘four P’s’ (Product, Place, Price, Promotion) Price is in fact the force
PRICING MIX AND STRATEGIES AND THEIR EFFECTIVENESS
(In assistance with Dr. Avinash Kapoor)
BY:
ROHIT SHARMA 11P161
S.P. KALYAN 11P162
SANCHIT VERMA 11P163
SAURABH MANDHANYA 11P164
No. of words: 7029 SHAFALI SUBRAMANIAN 11P165
EXECUTIVE SUMMARY Our study has been conducted on the ‘Pricing strategies employed by Ginger Hotels, India and their effectiveness’ in order to identify the different pricing method that are implemented by Ginger Hotels and study their differentiating factors with regard to the other players in the hospitality sector. We further attempt to establish if these pricing methods bring the customers to satisfaction. This is how we measure the effectiveness of the pricing techniques.
The Indian hospitality sector encompasses many different services. These include lodging, restaurants, event planning, tourism etc. Among these, Ginger Hotels focuses primarily on lodging. Ginger Hotels is a Tata Enterprise, which differentiates itself from the rest of the Tata Group Hotels by being a ‘Smart Basics Hotel’. Their prime focus is on providing key facilities that meet the key needs of the customer. This model enables them to maintain economic rates, thus making them a low cost budget hotel. The different players in this budget hotel segment implement a competitive pricing methodology. Apart from this Ginger uses other pricing techniques to attract their target markets. These pricing methodologies are also used to increase the customer lifetime value.
Our analysis starts with a study of the different price strategies commonly used in the services and hospitality sector. These include competition-driven pricing, customer-driven pricing, price-ending strategy, yield pricing and dynamic pricing.
Our hypotheses attempts at establishing that, in the case of budget hotels such as Ginger Hotels, among the ‘four P’s’ (Product, Place, Price, Promotion) Price is in fact the force