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6. How much do you spend each time you make this kind of
purchase?
7. Where is the best place to buy products/services such as
this?
8. How likely is it that you would be willing to buy this offering?
9. What additional features are important to you with this type
of product/service?
Analyzation of Results
After collecting data from each interview, each potential customer I
interviewed seemed to be very interested in my product. Out of all of my
interviews, no one said they would stay less than 2 times a year, which is
relatively close to my goal of 3 times a year for each couple. They liked my
venture concept because of my emphasis on quality and wanting to
provide the best and most affordable experience possible to my target
customers. They also liked the idea of having a rewards membership with
my hotel in order to accumulate points and earn more discounts after they
reach a certain number of stays in my hotel. They said they would
definitely be willing to stay for the 10% discount for the first stay. Since my
rates would be $120 per night, they would save a total of $24 if they were
willing to stay Friday and Saturday night, which would make a total of
$216 for their first weekend stay. The interviewees were also okay with
resuming regular rates for their next visit as long as they were guaranteed
a membership enabling them to earn more points. One interviewer also
mentioned that it would be nice to provide a continental breakfast each
morning, in addition to offering coupons for nearby restaurants.
Venture Strategy
Industry niche: Hotel services
Target customer: Young professionals; early college graduates and
professionals ranging from ages 21-35
Products/services: Exceptional hotel experience with romantic set-up
included in hotel cost, built in kitchen
Positioning: Better experiences for better prices; earn frequent
customers
Product/Service Portfolio:
Revenue Projections:
City/State
People ages
21-35 In
NYC
Customer
Group
% of
Popl. in
LDRs
%
purchase
intent
NYC, NY
1,395,369
Young
Adults in
LDRs
14%
=195,351
20%
=39,070
$240
4
Startup cost=$25 million
=$960 Income=$37.5 million;
/year
Revenue=$12.5 million
Bibliography
(2015). Build a Hotel Cost. Retrieved from
http://www.fixr.com/costs/build-hotel