Corpnet intends to increase the demand for its existing and new product in a specific market to achieve its goal to become the leader in the industry. The selection of market is the initial step to capture a wide market range in the region. The services offered by the company require contacting large size organization as these organizations need systematic hardware and software to do business smoothly. The city of Miami Beach is the most suitable market for offering high-speed Internet, business phones, and web-design services.
Market Overview
Miami Beach is located in Florida. It is a resort city as there are more than 460 hotels, resorts, and restaurant in this region. Wide beaches and oceanfront are the main sources of attraction for visitors. People come from different regions to enjoy the beauty of this area. The increasing number of occupied rooms and advance bookings are the evidence that many foreigners come to visit the interesting and attractive place of Miami .
Forecasting Demand Factors
The demand of Corpnet’s products is associated with the search for hotels in Miami. The main factors selected for forecasting the demand are listed below.
1. Reach of visitors
The number of visitors on hotels booking website are the main factor in forecasting the demand for hotels in Miami. The tracking of a website is useful in determining the number of searchers who searched for deals and packages .
2. Frequency
The number of search by a single user is helpful in analyzing the need of visitors. The frequent search can help in reviewing the density of demand by the user. The average frequency is essential to determine for advertising and marketing of new products and services (Lewis, 2012)
Huge information is required for demand forecasting. First of all, there is a need to make a list of hotels in Miami Beach through the Internet search. The next step is to maintain the track record of the official websites of hotels to determine the frequency. The growth in the revenue of the hospitality industry in this area is crucial as it helps in evaluating that how many searchers became visitors in a particular period. Also, it enables hotels to install automated system required for Corpnet. The required data is collected from the Internet that helps in demand forecasting of Corpnet products in this area.
Figure 1: Percentage growth of hotels in Miami Beach
Source:
Figure 1 illustrates that seven percent growth is seen in revenue of hotels in Miami Beach. The trend shows that hotels in this locality are doing successful business and contributing high in the hospitality industry. The occupancy rate can be calculated to evaluate that hotels have high demand in Miami. Miami Beach is the central point of attraction for all as many visitors approach to hotels by searching on the Internet.
Demand Forecasting Analysis
The collected data from the Internet is helpful in reviewing that how the growth of hotels in Miami Beach is attributed to the use of Corpnet products. Web designing is essential for hotels and restaurant in the modern era. People search for reserves and advance booking to avail the facilities. Hotels also require advertising, marketing, and offering their products on the internet to attract visitors. However, they demand official website to provide easy access to their customers. They require web page for the purpose of attracting visitors. The track record can be maintained by using the formula of Gross Rating Points (GRP). The application of the formula depends on the number extracted from testing.
GRP = Reach * Frequency
GRP (Miami Beach) = 38% *4 = 152
Source:
The record keeping and management are the main challenge for large size hotels. Therefore, they need to focus on their operational activities. The GRP result shows that Miami hotels have high demand in the current times and it is expected to increase with high pace in the coming season. Visitors demand quick response on different packages and offers. Web designing and its content is useful in engaging a large number of visitors even in off-season.
Comments
The key words and searching on the internet is the primary focus of any web developer. A web design should be done in a way that it fulfills the purpose of advertisement, interaction, and booking. The website should be official and contains a suitable content in a simple language that reader could get the point easily. The competition is high in Miami Beach due to the availability of a large number of hotels. Visitors look for feasible packages on the Internet. Therefore, a webpage of hotels should be designed by focusing on keywords that would become easier for the searcher. The motive of Corpnet products is to facilitate business that demands for controlling and managing multiple business operations.
References
2015 Edition of Trends in the hotel industry concludes. (2015). Retrieved from http://www.cbrehotels.com/EN/PressCentre/Pages/2015-Edition-of-Trends%C2%AE-in-the-Hotel-Industry-Concludes.aspx
Levy, M., & Grewal, D. (2014). M: Marketing. New York: McGraw Hill Education.
Lewis, C. (2012). Demand forecasting and inventory control. London: Routledge.
Media Planning & Buying Calculators. (2017). Retrieved from http://www.srds.com/frontMatter/sup_serv/calculator/grp_trp/grps_trps.html
The 30 best hotels in Miami. (2017). Retrieved from http://www.booking.com/city/us/miami-beach.html?aid=306395;label=miami-beach-91El7NY8Um_Mligyfr6eRQS151891608430:pl:ta:p1:p2:ac:ap1t1:neg:fi:tiaud-146342138710:kwd-272182051420:lp1011081:li:dec:dm;ws=&gclid=Cj0KEQiAwrbEBRDqxqzMsrTGmogBEiQAeSE6ZVy-t6b0meea
