Marketing Strategy Of Oyo Room Assessment Answer

Answer:

Introduction

Oyo room is one of the most famous Indian Hotel Brands. Their main headquarter is in Gurgaon, India, it first started their in 2013, with one hotel, and now it has 7000 hotels across India. Basically they build a partnership with hotels and keep some of the rooms for themselves with the aim of consistency of various each of the room including free breakfast, flat screen TV, neat and clean bed, free wifi, a beverage tray and so on. It is a chain of hotels that are spread in various towns in India. They assure a quality experience for the customers. The range of their budget is from 1000 to 4000 rupees (Odunlami, 2014). The funder of this company Ritesh Aggarwal who was only 17 years old when he started OYO room was a college dropout and is an inspiration for many youngsters.


Business Model

Their business model is simple as they connect their guest with the hotels by the list of hotels from their website and take a payment as their revenue; their marketing strategy is online marketing. Their business works through online marketing. Oyo room has secured a multiple value of over 600 crore all over the market. Their marketing prospects have been increasing only because of their smart strategy as they have made alignments with Make MyTrip, hotels.com and Clear Trip (ciim.in, 2017). They have launched their own app which has made bookings easier; through their site and apps they have made partners with zero to 2 star hotels as well as guest houses. This smart move has opened many gates for them and they have a much wider range of customers. The app launched has helped their business to expand even more. They almost have more than 70,000 rooms across India. They have very gripping propositions for partner hotels to attract those hotels to give them rooms under their name. Oyo room which started in 2012 now looks like one of the most promising business in India and it is sure to stay. The benefits due to this are they have various partners which gives them various benefits. Due to their business innovation there are many companies who want to do business with them. Oyo works very closely with their business partners and in way it give those companies 100% more profits.

Background

OYO Industry in India is an example for sever new companies in bringing all the budget hotels at front. This step has increased much room record and has formed more competition in the market. It is promoting all kinds and size and patterns of hotel to think about their strategies. Among all these OYO room is leading. It has opened in 104 cities (OYO Rooms, 2017)

Marketing Objectives

The target of OYO rooms is to offer a good stay at a matchless cost. OYO gives great lodging for example ventilation and cooling system even at a normal guest house. They have their names in almost all travel books. Their model is simple, which receives inns to get them according to their process and inspires them to maintain a good administration, staffs security, and later on they want their rooms according to their own choice, with some specific needs that matches their criteria or idea of serving customers better. This shows that they have a good hospitality management as well. Even though they do not invest in any money on these small properties, they give their plan to them so that they can build the room according to them, which makes it a win-win situation for them, as these small inns do not have any marketing strategy or system of any financial background of their own and they simply rely on them (Ibojo & Asabi, 2015).

Advertising Approach

In order to stay on this position OYO is focusing on the mass and their customers. They are following the new market and their form of functionality. They have a huge hit on Facebook with followers of more than 2.5 lakh and twitter which has more than 8000 fans (Dave, 2014). They approach to those hotels or guest rooms who do not have any network and it’s a huge plus for them as they get rooms on their name in a very low price and in return those hotels get publicity for OYO rooms. This growing brand is leaving no marks to spare, they are using every stage to promote their brand and make revenue out of it. In order to fulfill its goal, the brand has started a mass media campaign; they are coming on radio, print, television. Apart from the technology they are following the perfect path by advertising their brand. They are giving ads and they have eve introduced some web series where they are promoting themselves. These kinds of campaigns and advertisement bring the brand to life and make the brand more accessible and predictable for the people. They have also released two to three films which show people opting for OYO rooms for different reasons to have a peaceful stay (Jha, 2015).

Delivery Approach

Among the metropolitan cities, they have circulated their brand name in Delhi NCR, Bengaluru, Mumbai, Pune, Kolkata and Hyderabad, all these places have OYO rooms and the demand s are quiet high. In fact they are planning on going further and to open several more OYO rooms in all part of India. They give time to time discount and it is location friendly. It has a unique approach when the location is owns it will automatically give the pop up of the nearest OYO rooms one could find. Therefore it attract more people.

Key use of Branding: SWOT Analysis

The SWOT analysis is very essential in every business it analyses the strength, weakness, opportunity and threat. OYO is one of the largest networks of branded hotels in 104 Cities, it had a unique idea and therefore it could emerge in such a hit. The strength of this company is that they not only capitalize on big hotel rooms but also small hotel rooms and even guess houses. The weakness is that they have rooms in not only big hotels but as well as small one and therefore it might happen that they might use their publicity in return. They have several opportunities to enlarge their business as they just take over few rooms which should not be costing much for them, therefore they can start their business outside India. As there are various other companies rising and taking or imitating their ideas, it is highly possible that if they don’t maintain their standard then they might lose it to them.         

Business Strategy

It seems that OYO has been spending the most in digital advertisement and is also getting a great result from it. They even reached out to people to understand their wants and interest. This is a mass brand which is natural digital domain. Their sole strategy is to reach out to people and to make their business visible (Ansari, Jain & Kaur 2015). They have established OYO bistro, OYO premium for top clients. The next strategy the company took was to tie up their business with Airtel for wi-fi, Zo rooms, Tourism and Hospitality and skill gathering. As they are do not own any hotels by themselves and just simply brand the hotel, therefore there profit is more. Budget hotels normally do not have the knowledge and capabilities of marketing, therefore have a low price. OYO not only repair the rooms of a small hotel and guesthouse they also give them the brand name. Which results in better response and in a way becomes a strategic advertise for that particular hotel.

Service Accomplishments

The location awareness of OYO room is awesome. OYO knows everything about the destination and the area. OYO gives excellent service to their clients by solving their problems in different ways, be it price, hotel policies, location, accommodation etc. Most of the percentage of customers comes from the OYO app. They have given discounts to their loyal customers, and hence try to give the best service (Ramesh, 2017).

Conclusion

OYO is just a 5 years old company and it has already thriving with its popularity and achievements. In order to achieve so much so quickly the company has incorporated many new techniques and ideas. Their strategy has always been unique and they have adapted too many new technologies. The digital era has given birth to huge opportunities for them and they have used that media quiet well. This specific case study will be very beneficial to understand their marketing strategy ad productivity.

References

Ansari, M. K., Jain, G., & Kaur 2015 J. A STUDY ON IMPACT OF ICT ON THE MARKETING STRATEGY OF INDIAN TOURISM INDUSTRY.

ciim.in. (2017). Oyo Room Marketing Strategy and Case Study. Chandigarh Institute of Internet Marketing - ciim.in. Retrieved 29 July 2017, from https://www.ciim.in/oyo-room-marketing-strategy-case-study

Daramola, O., & Odunsi, O. (2016). Assessing students’ awareness of environmental hazards and risks in public tertiary educational institutions in Oyo State, Nigeria. Economic and Environmental Studies, 16(4 (40)), 655-672.

Dave, K. S 2014. A Study on FII’s Investment in Equity Market and its Impact on BSE SENSEX.

Devang, A., Kruse, C., Parker, A., & Siren, P. (2017). The Next Wave of Business Models in Asia. MIT Sloan Management Review, 58(2), 35.

Dhankar, S. (2017). Foreign Direct Investment and its impact upon the Indian Hospitality Industry.

IBOJO, B. O., & ASABI, O. M. (2015). Impact of customer satisfaction on customer loyalty: A case study of a reputable bank in Oyo, Oyo State, Nigeria. International Journal of Managerial Studies and Research, 3(2), 59-69.

Jha, S. (2015). Global Library Business Digest (October 2015) Vol 2 Issue 7.

Jha, S. (2015). Global Library Business Digest (October 2015) Vol 2 Issue 7.

Odunlami, I. B. (2014). Impact of customer satisfaction and customer retention on customer loyalty: A case study of enterprise bank in oyo. International Journal of Education and Research, 2(9), 427-450.

OYO Rooms. (2017). Hotel Booking India, Branded hotels, Affordable Stays – OYO Rooms. OYO Rooms. Retrieved 29 July 2017, from https://www.oyorooms.com/

Ramesh, A. (2017). Capturing Pilgrims Mind Space in India: A Study of Sales Promotions at Maha Kumbh Mela Allahabad 2013 & Kumbh Mela Ujjain 2016. Purushartha: A Journal of Management Ethics and Spirituality, 10(1).

Ramesh, A. (2017). Capturing Pilgrims Mind Space in India: A Study of Sales Promotions at Maha Kumbh Mela Allahabad 2013 & Kumbh Mela Ujjain 2016. Purushartha: A Journal of Management Ethics and Spirituality, 10(1).

Sen, C., & Adury, S. T. (2017). Challenges and Opportunities for Shared Economies. Global Entrepreneurship and New Venture Creation in the Sharing Economy, 1.

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