Product Launch Strategies for the Travel Industry

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Effectively Forecastyour Competitors Potential Supply to Mitigate Risk and Maximize ROI from New Product Launches …

Effectively Forecastyour Competitors Potential Supply to Mitigate Risk and Maximize ROI from New Product Launches

Without meticulous research, even the best new product can be thwarted by competitors' actions - So how should you prepare to ensure success?

Market awareness - events - transport providers - competitors - what impacts supply of a competitive product
What External data can help you assess the potential supply
How do you find out the capacity of your competitors
How fast can they move
Its not just price comparison, availability and quality are vital
How can you ensure you create a new product that has opaque pricing and won't become an unprofitable commodity
What can competitors price tell you about potential supply
How big an advantage does the first mover have
How do you build his information into your calculations

Speaker: Vishal Jain, Head, Product Management, RateGain

More in: Technology , Business
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  • Every Traveler is a market segment – sometimes its more important to have availability rather than being the cheapest.

Transcript

  • 1. Effectively forecasting competitor’s potential supply. Mitigate risk & maximize ROI Vishal Jain, Chief Products Officer New Product Launches
  • 2.  
  • 3. Competitor Capacity via Rate Intelligence
  • 4. Managing demand by market capacity…
    • Capture market compression
    • Benchmark rate movements
    • Pricing opportunities
  • 5. Track price pace across active booking windows
    • Comp1 – Poor pricing, leads to lower yields as compared to subscriber
    • Comp 2 – Poor inventory control losing rooms and adjusting prices due to poor group management.
    • Subscriber – Re-adjustment of inventory 4 weeks out and steady price rise based on bid model (Limited stock high price)
    Price Optimization Group Wash – Poor inventory control Inaccurate demand forecast – Lost opportunity
  • 6. Depth of Inventory
    • Its not just price comparison, availability is vital too…
  • 7. And so is your product quality…
    • Use real time guest feedback to identify product strengths…
    Highlight your strengths like Front Desk, Rooms & Service…
  • 8. New Product Launches
  • 9. Identify new product opportunities through price range representation…
    • Price bucket presence
    • “ Packaging creativity is the KEY”
  • 10. Targeting source profiles
    • Identify new market segments
  • 11. Enhance Distribution
    • Channels where your competitors are not selling excellent packaging opportunities for new products
  • 12. Analytics ….methodology and process “ Analytics is a leitmotif that powers today’s business” - RateGain Collect multiple data sources Harmonize the data Align the data with objectives Gain insights
  • 13. Thank You @VoxVishal blog.rategain.com