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1
Market Feasibility Study of PALM ISLAND
Presented By:
Yatin BansalSunam PalSree Hari HaranSatish
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
features of Palm island• Unique• This makes it a resemblance of richness.• To be related to palm island brings pride to
people as its one of its kind.
2
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
Palm island taps various markets…
• Tourism• Residential• Entertainment area• Resorts, hotels and restaurants• Cruise, boating and other water sports.
3
Safety and security• It is more of a backwater than a sea beach.• It is surrounded by high level boundaries which protects it from
high tides.
Quantitative Tools
for Market Feasibility Test4
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Quantitative Tools1. Forecasting2. Percent Median Market3. Control Chart4. Predictive Gravity
Modeling5. Assignment Model6. Customer Life Time Value
( CLV )7. Sensitivity Analysis 5
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Factors For Testing
1. Tourism Growth2. Entertainment Clubs3. Real estate Mapping4. Footfalls in Malls5. Resorts possible areas
Forecasting of Tourism Growth
6
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : The process of analyzing current and historical data to determine future trends.
Step:1 Forecasting
7
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : The process of analyzing current and historical data to determine future trends.
Year 2005 2006 2007 2008 2009 2010No of Tourist 18,76519,867 21,654 22,123 23,778 25,169
1. Regression Analysis2. Moving Average 3. Extrapolation4. Trend Analysis
2004 2005 2006 2007 2008 2009 2010 20110
5,000
10,000
15,000
20,000
25,000
30,000
f(x) = 1263.48571428571 x − 2514554.90476191R² = 0.987712388971676
No of Tourist
Axis Title
Axis Title
Standard Deviation : 0.12 %
dy/dx = Growth
Step:1 Forecasting
8
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : The process of analyzing current and historical data to determine future trends.
2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
5,000
10,000
15,000
20,000
25,000
30,000
No of Tourist
Year 2005 2006 2007 2008 2009 2010 2011 2012No of Tourist 18,765 19,867 21,654 22,123 23,778 25,169 26,741 27,891
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Step:1 Forecasting
9
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : The process of analyzing current and historical data to determine future trends.
2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
5,000
10,000
15,000
20,000
25,000
30,000
No of Tourist
Year 2005 2006 2007 2008 2009 2010 2011 2012No of Tourist 18,765 19,867 21,654 22,123 23,778 25,169 26,741 27,891The analysis gives an idea about
expected figure in Dubai but it does not show how will it impact
specifically palm Island
Step:2 Percent Median Market
10
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : It defines the percentage distribution across various factor Helps to know
1. Market penetration2. Potentiality of a particular segment
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Step:2 Percent Median Market
11
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : It defines the percentage distribution across various factor Helps to know
1. Market penetration2. Potentiality of a particular segment
Age Group < 25 25-30 30-40 40-50 50> Total
Will Visit Palm Island 12 24 49 21 9 115
Will Visit Other Place 157 231 369 189 112 1058
Will visit for both Palm Island & Other places
4 9 19 7 3 42
Total 173 264 437 217 124 1215
Tourism
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Step:2 Percent Median Market
12
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Definition : It defines the percentage distribution across various factor Helps to know
1. Market penetration2. Potentiality of a particular segment
Age Group < 25 25-30 30-40 40-50 50> Total
Will Visit Palm Island 12 24 49 21 9 115
Will Visit Other Place 157 231 369 189 112 1058
Will visit for both Palm Island & Other places
4 9 19 7 3 42
Total 173 264 437 217 124 1215
Tourism The Percent Median table can be formed based on
1. Customer Survey2. Customer Feedback3. Expert Opinion4. Historical Trends
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Step:2 Percent Median Market
13
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Age Group < 25 25-30 30-40 40-50 50> Total
Will Visit Palm Island 12 24 49 21 9 115
Will Visit Other Place 157 231 369 189 112 1058
Will visit for both Palm Island & Other places
4 9 19 7 3 42
Total 173 264 437 217 124 1215
Tourism
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Market Penetration = (115 + 42 ) / 1215 = 12.92 %
Marketing Penetration: 12.92%
Step:2 Percent Median Market
14
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Age Group < 25 25-30 30-40 40-50 50> Total
Will Visit Palm Island 12 24 49 21 9 115
Will Visit Other Place 157 231 369 189 112 1058
Will visit for both Palm Island & Other places
4 9 19 7 3 42
Total 173 264 437 217 124 1215
Tourism
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Market Penetration = (115 + 42 ) / 1215 = 12.92 %
Marketing Penetration: 12.92%
Age Group % share Preference
< 25 14.23868313
5
25-30 21.72839506
2
30-40 35.96707819
1
40-50 17.8600823 3
50> 10.20576132
4
TOTAL 100
Potentiality of customer segments
Step:2 Percent Median Market
15
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Age Group < 25 25-30 30-40 40-50 50> Total
Will Visit Palm Island 12 24 49 21 9 115
Will Visit Other Place 157 231 369 189 112 1058
Will visit for both Palm Island & Other places
4 9 19 7 3 42
Total 173 264 437 217 124 1215
Tourism
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Market Penetration = (115 + 42 ) / 1215 = 12.92 %
Marketing Penetration: 12.92%
Age Group % share Preference
< 25 14.23868313
5
25-30 21.72839506
2
30-40 35.96707819
1
40-50 17.8600823 3
50> 10.20576132
4
TOTAL 100
Potentiality of customer segments
It gives idea about market penetration & customer segment, but still gives no idea
about the feasibility of project
Step:3 Control Chart
16
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Marketing Penetration: 12.92%
Potentiality of customer segmentsControl charts, also known as process-behavior charts, in statistical process control are tools used to determine whether or not a manufacturing or business process is in a state of statistical control.
It has : USL : Upper Specification Limit LSL : Lower Specification Limit
Step:3 Control Chart
17
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Marketing Penetration: 12.92%
Potentiality of customer segmentsControl charts, also known as process-behavior charts, in statistical process control are tools used to determine whether or not a manufacturing or business process is in a state of statistical control.
No of tourist
• Over capacity• Risks
• Under Utilization• No ROI
LSL USL
Expected Tourism in 2011 = ( 26,741 X 0.1292 ) = 3208.92
3000 3500
Control Chart
18
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Standard Deviation : 0.12 %
2011 Forecast: 26,741
Marketing Penetration: 12.92%
Potentiality of customer segmentsControl charts, also known as process-behavior charts, in statistical process control are tools used to determine whether or not a manufacturing or business process is in a state of statistical control.
No of tourist
• Over capacity• Risks
• Under Utilization• No ROI
LSL USL
Expected Tourism in 2011 = ( 26,741 X 0.1292 ) = 3208.92
3000 35003208
Feasible
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
19
LSL USL LSL USL
LSL USL
Feasible No Risk
Not Feasible
Feasible but Risky
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
20Tourism at Palm Island is Feasible
But feasibility may differ on territory level
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
21Tourism at Palm Island is Feasible
But feasibility may differ on territory level
Weak territories
Strong territories
Step:4 Predictive Gravity Modeling
22
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segmentsForecast the total potential sales available from each neighborhood in the trade area
The model should be designed to mesh with the data that will be used when the model is implemented. In GIS analysis and most other large data analyses, the characteristics of individuals are summarized into the neighborhood's demographic or psychographic profile
Input variables V1 V2 V3
F ( X )
Output( Graphic user Interface )
Step:4 Predictive Gravity Modeling
23
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segments
OUTPUT
Market Penetration
Step:4 Predictive Gravity Modeling
24
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segments
OUTPUT
Case:Opening a shopping Mall
Criteria : In a area where market penetration is between above 50%
Market Penetration
Feasible
Not Feasible
Step:4 Predictive Gravity Modeling
25
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segments
OUTPUT
Case:Opening a shopping Mall
Criteria : In a area where market penetration is between above 50%
Market Penetration
Feasible
Not Feasible
It gives an idea about feasibility but how to decide which territory is best feasible ?
Step:5 Assignment Model
26
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segmentsTo find most best feasible solution
Area 1 Area 2 Area 3 Area 4 Area 5
Shopping Mall 1 5 2 3 4
Step:5 Assignment Model
27
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segmentsTo find most best feasible solution
Area 1 Area 2 Area 3 Area 4 Area 5Shopping Mall 1 5 2 3 4Restaurant 2 4 3 1 5Resort 5 2 1 3 4Club 4 1 2 5 3residential Area 5 2 3 4 1
Applying Assignment Model
BEST
Shopping Mall Area 1
Restaurant Area 4
Resort Area 3
Club Area 2
Residential Area Area 5
BEST FEASIBLE
Step:5 Assignment Model
28
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Potentiality of customer segmentsTo find most best feasible solution
Area 1 Area 2 Area 3 Area 4 Area 5Shopping Mall 1 5 2 3 4Restaurant 2 4 3 1 5Resort 5 2 1 3 4Club 4 1 2 5 3residential Area 5 2 3 4 1
Applying Assignment Model
BEST
Shopping Mall Area 1
Restaurant Area 4
Resort Area 3
Club Area 2
Residential Area Area 5
BEST FEASIBLE
How much value would customers add to you?
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
STEP : 6 Customer Lifetime Value ( CLV )
In marketing, customer lifetime value (CLV), lifetime customer value (LCV), or lifetime value (LTV) is the net present value of the cash flows attributed to the relationship with a customer
29
CLV =
k
CLV: Customer Lifetime ValuePC : Profit Contributiond : Discount Raten : Number of yearsk : Time unit
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
STEP : 6 Customer Lifetime Value ( CLV )
In marketing, customer lifetime value (CLV), lifetime customer value (LCV), or lifetime value (LTV) is the net present value of the cash flows attributed to the relationship with a customer
30
CLV =
k
CLV: Customer Lifetime ValuePC : Profit Contributiond : Discount Raten : Number of yearsk : Time unit
Risks ?
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
STEP : 7 Sensitivity Analysis
Sensitivity analysis (SA) is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of the model.
31
I ( X ) O ( X, Y) I ( Y )
If f ( x ) is altered, than to what degree O ( X,Y ) would change.
BEN
CHM
ARK-
2011
,PSG
IM,C
oim
bat
ore
STEP : 7 Sensitivity Analysis
Sensitivity analysis (SA) is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of the model.
32
I ( X ) O ( X, Y) I ( Y )
If f ( x ) is altered, than to what degree O ( X,Y ) would change.
Based on sensitivity analysis we have to decide contingency level
Qualitative Tools
for Market Feasibility Test33
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Quantitative Tools1. Concept Testing2. Delphi Techniques3. Focus Group Advice4. Nominal technique5. Alpha Testing6. Beta Testing7. Test Marketing8. Market Simulation9. Competitive Advantage
Analysis10. Sustainability Test 34
P R O J E C T M
A N A G
E M E N
TMarket Feasibility Analysis of Palm IslandAlliance University
SAT17 APR
Concept Testing• People’s reaction to a basic idea of the product
• Usually done before a product is marketed.
• Ensures the selection of the most favorable concept
• Reduces research, development and marketing cost
• Lays a foundation for Benchmarking in future
• Forecasts and analyses the demand and ensures the right time of launching
Focus Groups?
• It's dangerous to take "customers" for granted• To collect qualitative data• To determine feelings, perceptions and manner of
thinking of participants regarding products, services, programs or opportunities• To promote self-disclosure among participants
Test Marketing
To test a new product or a new marketing plan under realistic market conditions to measure sales or profit potential.Done based on the following1. Population size2. Demographic composition3. Lifestyle considerations4. Competitive situation5. Media
Test Marketing
WHY1. To identify and correct weakness in the plan2. To estimate the outcomes OUTPUT
3. Reduced cost4. Increased secrecy from competitors
Alpha Testing
• Acceptance testing• Done in front of client or customer for
their acceptance.• The Product is developed according to the
customers requirement and Specification.• Generally termed as internal testing
Beta Testing
• Done after Alpha testing• Termed as External user acceptance
testing• Open to limited people • Based on their feed backs the flaws are
corrected
Competitive Advantage
“A project’s profit potential is largely determined by the intensity of competitive rivalry within that Project”
Competitive Advantage• Variety of health spas, fitness centres and residents' clubs• Outstanding facilities at 30 luxury five-star or boutique hotels• Wide selection of restaurants offering the finest cuisine from
all over the world• Tax-free, designer brand shopping on the Golden Mile and in
Palm Mall• Safe, gated communities and top security in all apartment
residences• Miles of beautiful, golden beaches with spectacular ocean
views• Incredible range of attractions and events, as well as theatres,
cinemas and nightclubs
43
E-procurement system of Honeywell & VedantaBEN
CHM
ARK – 2 0 1 1
PSGIM, Coimbatore
Fri25 Feb
Questions Please ????