Market study of amphibious vehicles in Goa

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Information about Market study of amphibious vehicles in Goa

Published on July 10, 2016

Author: GauravSharma817

Source: slideshare.net

1. Amphibious vehicles - The De Souza Group - Asmita Chakraborty – GIM Tim Molkens – UAntwerp Gaurav Sharma – GIM Ben Van Campfort - UAntwerp

2. Organizational structure – company overview 2 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

3. Problem statement – main research question “What is the feasibility of offering an amphibious vehicle tourist service in Goa, based on a marketing study?” 3 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

4. Sub-questions 1. How does the tourism market in Goa work and what are the challenges the amphibious vehicle faces? 2. What kind of customers should be targeted in order to become successful? Is there a difference in audience (foreign/domestic tourists)? 3. Why is the product unique and what actions should be taken to reach its full potential on this new market? 4 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

5. Research methodology - method • Brainstorming before project • Meetings • Ralph De Sousa  general idea + contacts • GTDC  factual data about tourist sector • Sairaj Dhond  project information • Determine scope  form research question and sub-questions • Find appropriate framework: Go-to-market strategy • Apply framework + analyze data 5 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

6. Research methodology - data • Company information (relations etc.) • Touristic market in Goa: • Number of tourists (foreign/domestic) – yearly and monthly • Average duration of stay • Income distribution – spending habits • Vehicle information (technical) • Organizational information (logistics of the tours) and future plans • Cost information • Fixed operational costs, vehicle cost, fee for GTDC, expected occupancy rate, willingness to pay 6 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

7. Research methodology – analysis/framework Market perspective • Analysis of market statistics (growth etc.) • Porter 5 forces analysis Consumer perspective • Segmentation exercise • Brand positioning – perceptual mapping Product perspective • 4P analysis • Breakeven calculation + differentiated pricing • Sensitivity analysis (occupancy rate) - 7 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

8. P1: Market - Market statistics 8

9. P1: Market - Market statistics 9

10. P1: Market - Market statistics 10

11. P1: Market 11 Introduction Research questions P1 P2 P3 Recommendations Final thoughts FIVE FORCES ANALYSIS

12. P2: Consumer – Segmentation exercise • Segmentation parameter 1: Geography • Indian (domestic) tourists  focus • Foreign tourists • Segmentation parameter 2: Purpose of visit • Couples and friends (backpacking) • Married couples and families (with children) • MICE-tourists  Conclusion: full domestic market coverage 12 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

13. P2: Consumer – Perceptual mapping 13

14. P3: Product - 4P analysis Product • Characteristic features • Brand Attributes: novelty, informative, fun, adventurous, entertaining, amphibious, affordable and mass appeal • Logo, Merchandising, Brand Associations Place • North Goa • Manufacturing: Sanquelim • Routes start/stop in Panaji Promotion • Introduction stage PLC  important • Online marketing (Ad words), create buzz (#GoaDuckTours) • Packages/offers: Early Duck Discount, family formula, group arrangement, etc. 14 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

15. P3: Product – 4P analysis - Price • Variables, data and assumptions • Vehicle cost: 120 million rupees • Fixed operational costs: 500.000 rupees per month • GTDC : 60 million rupees + 5% of revenue OR 12% of revenue • Expected average occupancy rate: 70% • Number of seats per vehicle: 32 • Price of a ticket (fee): anywhere between 500 – 1000 rupees • Seasonal coefficients per month (2013 numbers) 15 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

16. P3: Product – 4P analysis - Price • Method: • Each month: total revenue – total cost = profit • Cumulated profit until = 120.000.000 (buying cost vehicles) • This is the break-even point  start making real profit • Analysis • Price variations: 500 rupees, 750 rupees, 1000 rupees, differentiated pricing • Sensitivity analysis on occupancy rate • Worst case scenario 16 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

17. P3: Product – 4P analysis - Price 17

18. P3: Product – 4P analysis - Price 18

19. P3: Product – 4P analysis - Price 19

20. Managerial recommendations Always stick to the value proposition! • Stay informed • Screen products (safety) • Break-even: use calculation template  on schedule? Problems? • Market evolutions • Mind the financials • Differentiated pricing • Realistic expectations (70%?) • Marketing as a growing tool • Introduction PLC  invest • Promotional packages • Quality  word of mouth • Brand identity (logo, …) • Other tours, uses, segments and suppliers • Tours per segment • Logistics, public transport, etc. • Foreign tourists • Independence is important 20 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

21. Final thoughts • Assumptions • Many assumptions needed • Some of them were very strong (70% occupancy etc.) • Limits • Data availability  future surveys • General data (not very specific) • Limited time 21 Introduction Research questions P1 P2 P3 Recommendations Final thoughts

22. THANK YOU 22

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