STEPS

#Market Study

WHO ?

Marketing your project is an essential step to start. We endeavor to measure # the tourism issue, the potential, the context and list the opportunities and risks.

What is it? It’s about doing research, collecting information and analyzing your market to answer the following questions :

• What is the market context and the risks?
• What are our # development opportunities?
• To whom to market our products and how?
• Who are our #competitors and how can we differentiate ourselves?
• What action plans for the targeted markets?
• How to set our prices

You can call on firms specializing in market research. You will need to ask to collect enough information for decision making. In the “BLOG” section, find my articles and recommendations on #market research.

Vision & Objectives.

WHAT ?

The vision of the owner, the manager, is the pillar of the company to then define the mission and the direction to be taken for the teams.

Developing a vision, and more importantly living it on a daily basis, are essential elements of #Leadership. In uncertain times of constant change and questioning, teams absolutely need to understand what the business is trying to achieve. In the “BLOG” section, find my articles and recommendations on #defining your vision.

^{Steve Jobs’ vision at #Apple was just to start a # revolution in which everyone could process information, think and manage their world as simply as possible.}

Steve JOBS

It is then necessary to decline its #objective, its # strategies and #tactics to build the precise action plan. What is it? Answer simple questions :

• What is our mission ?
• What is our establishment?
• What do we want to be? who are we addressing?
• What will make us a different resort, hotel or restaurant?

Positioning

HOW ?

Define what the establishment is based on market research, define the vision and objectives of the company, give the direction to take to position the establishment.

Clearly define customer targets. Identify their expectations of today and tomorrow. Offer the products and / or services to be put in front to meet them. The use of a working support document is more than necessary according to the attached frames :

Here are some tools to use :

Thus, we can precisely define: The services offered & action plan by target markets and finally who will be the team.

In the “BLOG” section, find a more specific article on hotel positioning #Lifestyle.

Cost

HOW MUCH ?

In order to verify the feasibility of the project, a costed business plan is essential to validate the adjustments to be made and to measure the challenge that will have to be achieved.

“It all starts by identifying its level of activity, its turnover by making assumptions. These #assumptions can then be modified to see the impact and the levers of the business model. Use the result of the market study to measure the expected activity by customer segment, by season, … Then, we must decline service by service the variable operating costs, for certain, according to the activity , and fixed for others, incompressible for the operation of the company. Fixed and variable costs are business choices and can at any time be reviewed, changed, decided to improve its operating account (addition of costs to enhance the service, quality, positioning chosen and guarantee its turnover according to its objectives // cost reduction to increase efficiency, save money and improve margins). Both options must be considered in an economically viable manner.”

In the “BLOG” section, find a more specific article on examples of #business plan, #provisional operating account and calculation of its # breakeven point.