Fairmont Hotels and Resort is undoubtedly one of the most iconic and celebrated brands in the hotel industry worldwide. The brand offers unrivaled high standards to its customers, hence it is the preferred brand among dignitaries and celebrities all around the world (Kotler & Armstrong).
Mumbai, India is known for its landscape and weather that sets it as a perfect skiing destination. The market, however, is underserved as it lacks a luxurious brand offering services to some segments of the market. That is why some steps should be done to fill this gap. Analysis of the market and rivalry should be done for the purpose of predicting the success of the project.
To afford the project with the facilities, the shareholders of an already existing known local hotel should be bought with the intention to remodel it according to the standards of Fairmont Company. Indoor skiing arena should be built from the ground up, as it is the unique building for this area.
Market Situational Analysis
Analysis of the market is necessary as its results can guarantee the projects financial success. The Fairmont company is market-oriented brand, and its main aim is to give high-quality services to its customers. The area for the project is chosen perfectly, as Mumbai is the commercial, financial and entertainment capital. It is a metropolitan city. That is why it is the best place to build a ski resort. It will target the cream of society, made up of the Bollywood movie actors, political leadership and the executives of several companies in Mumbai.
An indoor ski resort will include manufactured snow and controlled temperatures to offer customers an exhilarating experience of skiing all year round. Indoor skiing has become very popular worldwide, especially among the young and middle-aged population which want to engage in adventurous and fascinating activities. The management should have a complete understanding of the services at different locations by developing perfect entry market strategies for their organization (Kotler & Armstrong).
It is obvious that at the moment there are no indoor ski resorts in Mumbai. This fact should be taken into account as it is one of the main factors of the projects success. Fairmont will offer clean, serene, and private skiing facility to the people who value their privacy and high-quality services. This particular market is sensitive to high standards, and that is why the environment provided by Fairmont would appeal to them.
Fairmont is famous for its high-quality service and experience that offers value for money. That is why this brand can serve as a good advertisement for this project. There is a tendency in the modern world, that rich people make some kind of advertising, recommending some place, restaurant, hotel or resort in their society.
That is why a well-known tradename is a passport to success. Finally, there is another thing which can guarantee the projects marketability. Restaurants, placed inside the resort, can generate a lot of income all year round. These funds can be used to guarantee the projects success and security as it is possible to invest free capital in some new project, supporting the old one at the same time.
Goals and Objectives
Fairmont Hotel and Ski Resort’s specific objective is to create a new and competitive resort, which will be able to attract customers from different countries and become profitable and famous. Moreover, being focused on the high class of society, it should function according to all luxury standards for its clients to be satisfied with the service and recommend it to their friends.
This project can also promote further development of the brand and its expansion to some other states. The resort aims at winning a competitive advantage in every continent. Its expansion to India aims at providing better quality, more adventure and fun for customers of the resort. Disposing the business far from traditional places aids in making fruitful techniques for the new area (Zekiri & Angelova).
A perfect market entry strategy is absolutely necessary since it assists the company in concentrating and utilizing available resources and opportunities to realize profits and become competitive at the market. Development of the appropriate market entry strategies, proper assessment of the internal and external environments of the business are essential for the company which main aim is to capture the market (Kotler & Keller).
That is why the necessity to analyze the situation to assure the projects success is obvious. The project can be organized based on an existing local hotel, improving it to high standards of the company. Its unique location and absence of direct competitors are the factors which can promote the blistering and stable development of the resort.
That is why taking into account peculiarities of the market, it should be said that creation of the new ski resort in India seem to be a rather profitable business as it is guaranteed to be successful and win the rivalry. Moreover, it can create a basis for further expansion of the company in this region.
Kotler, P. & Armstrong, G. (2008). Principles of marketing. New Jersey, the USA: Pearson Prentice Hall.
Kotler, P. & Keller, K. (2009). Marketing management (13th ed). New Jersey, the USA: Pearson Prentice Hall.
Zekiri, J. & Angelova, B. (2011). Factors that influence entry mode choice in foreign markets. European Journal of Social Sciences, 22(4), 578- 580.