Emerging Market Strategy Innovating and Products

Question: Discuss about the Emerging Market Strategy for Innovating and Products. Answer: Introduction The aim of this report is to understand vision and mission of a resort which is going to start its business in the Iceland. The objective of this report is to identify the way of success for the resort. Along with this, the aim of the report is identify the target market and positioning of resort in the Ice land. In starting, there is necessary to measure the performance of the resort for achieving goals and objectives of the proposed project. A proper planning is very helpful to get success in the market of Iceland. Vision or mantra of resort The vision of any organization can be described as the statement given by the organization having set objectives and goals to be achieved in the future. The vision of the resort would be to attract more and customers by providing best accommodation facilities and services to them. The aim of vision of the resort is to build the image of the resort in the market by providing best services in terms of good food, rooms and facilities to the tourists. The vision statement would be helpful for the resort to improve the reputation and awareness among the tourists. It would also be helpful to achieve the future growth and success (Roger, 2013). Vision as the way of success The objectives of the organization should be important because it contains certain requirements that should be measured. The vision having specific goals encourages the employees of the resort to improve the performance so that they can be able to serve the customers in the good way. The aim of the vision of the resort is to create brand awareness and provide best services to the visitors (Taleghani, et al, 2011). By setting proper and well defined goals, management of the resort would be able to perform well. There are some points as the objectives of the resort for stakeholders that are to be achieved: To provide best services to the visitors at the reasonable prices, Promote the tourism by providing such services which include social, economic, political and physical environmental factors, Provide such services in resort to satisfy the needs and requirements of the customers, Give contribution to the tourism industry for the social, economic and cultural development, Develop the awareness about resort among the customers, Improve the quality of services compared to the competitors, and To attract the customers having high class lifestyle and who want high quality services (Turnbull Valla, 2013). Target marketing Target market is very important for the success of every organization because it focuses on the taste, interests, hobbies and the needs of the customers. Basically, target market is the market where the organization wants to sell its products and services to the targeted customers. Resort will target the customers according to their needs and requirements. The resort will mainly target families, tourists, couples, seasonal travelers and middle class customers also. Resort will basically target the customers based on the incomes and professions nd provides the services according to them (Bickhoff, Hollensen Opresnik, 2014). Positioning For targeting the customers, the resort will adopt the unique positioning strategy. Resort will provide different kind facilities and services such as good rooms, swimming pools, cooling and heating rooms and good bathrooms attached in the rooms etc to the visitors who came to Iceland. Along with this, the pricing strategy should be maintained by the resort to attract the customers. The objective of the resort is maximizing the profit. So, resort has to focus on the pricing strategy to maintain the brand image. Apart from this, there could be many competitors of the resort in the Iceland so it would be very critical task for the resort to attract the customers. So, resort has to adopt cost effective strategies to attract the customers in Iceland (Chakravarthy Coughlan, 2011). Opportunities in the market Iceland is famous destination for travel and tourism. It is located in the middle of North America and North Europe. This country is continuously growing in terms of economy because of the visit of tourists from the US, Britain, and Germany. They spend lots of amount in their travel. So, the growth in the economy of Iceland has a positive impact on the hotel industries. It is expected that the growth will be continue and will ensure the success of hotel industry. So, it would be beneficial to open a resort in Iceland (Iceland Monitor, 2016). Conclusion The report was discussing about the proposal of a resort in the Iceland. It has been observed that the aim of the vision of the resort is to attract more and customers by providing best accommodation facilities and services to them. For this, resort will provide such services in resort to satisfy the needs and requirements of the customers. References Bickhoff, N., Hollensen, S., Opresnik, M., (2014),The Quintessence of Marketing: Strategic and Operative Marketing PlanningSegmenting, Targeting, Positioning.pp. 47-11 Chakravarthy, B., Coughlan, S., (2011), Emerging market strategy: innovating both products and delivery systems, 40(1), 27-32. Iceland Monitor, (2016), Opportunities in Iceland for sustainable tourism, accessed on 30th November 2016 from https://icelandmonitor.mbl.is/news/nature_and_travel/2016/10/06/opportunities_in_iceland_for_sustainable_tourism/ Roger, A.K., (2013),Marketing In Asia.(2nd). Columbus, OH: McGraw-Hill Education. Taleghani, M., Biabani, S., Gilaninia, S., Rahbarinia, S. A., Mousavian, S. J.,(2011), Arabian Journal of Business and Management Review :The Relationship between Customer Satisfaction and Relationship Marketing Benefits, 1(3), 78-86 Turnbull, P. W., Valla, J. P., (2013),Strategies for international industrial marketing. USA: Croom Helm.