Essay About Importance Of Business Development And Strict Beliefs

The Importance of Business Development in the Hospitality Sector
INTRODUCTIONThis essay mainly focuses on signifying the general importance of Business Development in the hospitality sector and how it assists in analyzing and assessing the various characteristics of the development process along with the growth of the organization. When the principles of business development are implemented, a profitable advancement can be ensured as an organization’s survival in the market is primarily based on its business development skills which then set the benchmark for effective and efficient performance (Hassanien A, et al, 2010). In this essay, we focus on the 4P’s (although not mentioned directly) and the strategic business environment will be assessed through SWOT analysis and based on the results, the organization will decide on the type of clientele to develop the business for. This essay is based on evaluating the statement of “Knowing your customers – actual and potential – and your competitors is essential to the development of strong businesses and testing of new product development proposals”. The approach adopted for writing it is secondary research methods and the organization picked to analyze and base this academic writing on is the ‘Alila-Diwa-Goa’, part of the Alila Hotels and Resorts. The trademark of the group is the placement of their properties in various unique locations offering their clients unparalleled destination experiences. According to Mark Eddleson, President of the group, the goal is for their clients to leave with spiritual and emotional memories. With their strict beliefs in sustainable tourism, they have adopted EarthCheck Operating Standards in all their hotels to keep in par with their holistic environmental vision.  “Its philosophy to integrate commerce, conservation and community – continues to drive its product development.”  (www.alilahotels.com).

MAIN BODYIn business, knowing your customers is essential. The development of a business or launch of new products should not commence unless the target market has been identified. It is then crucial for the company to find out everything there is to know about the target audience, for example: their preferences, likes and dislikes, what would ensure satisfaction and what would tick them off, and how to guarantee loyalty. In order to achieve this, thorough research has to be carried out and the simplest approach is through customer feedback.Alila-Diwa Goa’s niche market mainly comprises of leisure guests, and during off-seasons, caters to the corporate sector as well. Being a destination resort, they try to attract International guests in an effort to increase revenue. According to S. Jayachandran (2004) when buyers in a market fulfill the 3 factors of income (purchasing power), desire to spend and acquire a product and access the product (availability), they are termed as ‘Actual Customers’ while those who cannot achieve them all are ‘Potential Customers’.