Internship Report on Loyalty Programs at Vivanta by Taj
Total Page：16
File Type：pdf, Size：1020Kb
INTERNSHIP REPORT ON LOYALTY PROGRAMS AT VIVANTA BY TAJ, BANGALORE BY TINA.R USN NO: 1NZ13MBA47 Submitted to VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELGAUM In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION Under the guidance of INTERNAL GUIDE EXTERNAL GUIDE SREOSHI DAS GUPTA ASHISH DATTANI DEPARTMENT OF MANAGEMENT STUDIES NEW HORIZONCOLLEGE OF ENGINEERING Outer Ring Road, Bellandur Post, Near Marathalli, Bangalore, July 2015 LOYALTY PROGRAMS Page 2 NHCE, department of management studies ACKNOWLEDGEMENT I would like to place on record my deep sense of gratitude to Mr. Mohan Manghnani, Chairman, New Horizon college of Engineering, Bangalore, India for providing excellent Infrastructure and Academic Environment at NHCE without which this work would not have been possible. I am extremely thankful to the HR Manager SHAMA BODRA and ASHISH DATTANI, Sales Manager, of Vivanta by Taj for the valuable observations, suggestions and encouragement, which helped me to complete the project. I express my sincere thanks to Dr. MANJUNATHA, Principal of NEW HORIZON COLLEGE OF ENGINEERING for providing me the opportunity to conduct this research project. I express by deep sense of gratitude to Dr. SHEELAN MISRA, Director of Dept. of management studies and my internal guide Asst Prof. SREOSHI DAS GUPTA Department of management studies for their insight and valuable guidance to do the project. I also express thanks to my family members and friends for the love and support that they gave me during the time of the project. Place: Bangalore TINA.R Date : 10/4/2015 1NZ13MBA47 CONTENTS CHAPTER PARTICULAR PAGE NO: NO: LIST OF TABLES LIST OF CHART I INTRODUCTION OF THE STUDY 1 1.1 INTRODUCTION OF THE STUDY 1 1.2 NEED OF STUDY 2 1.3 OBJECTIVES OF THE STUDY 3 1.4 SCOPE OF THE STUDY 3 1.5 METHODOLOGY 3 1.6 LITERATURE REVIEW 5 1.7 LIMITATION OF THE STUDY 10 II INDUSTRY AND COMPANY PROFILE 12 2.1 INDUSTRY PROFILE: - HOSPITALITY AND TOURISM 12 2.2 CURRENT AND FUTURE TRENDS IN HOSPITALITY AND TOURISM INDUSTRY 16 2.3 COMPANY PROFILE 17 2.4 SWOT 31 2.5 MCKINSEY7‘S MODEL 34 III THEORITICAL BACKGROUND OF THE STUDY 40 3.1 INFORMATION ON THE SUBJECT 40 IV ANALYSIS AND INTERPRETATION 54 FINDINGS, SUGGESTIONS, RECOMMENDATION AND V CONCLUSION 82 VI BIBLOGRAPHY i VII ANNEXURE iii LIST OF TABLES TABLE CONTENTS PAGE NO: 4.1 NO: Table showing Gender 54 4.2 Table showing Age profile of the Respondents 55 4.3 Table showing Vivanta by Taj is a contemporary and stylish 58 4.4 Tablehotel chain showing Worth paying a premium for staying at Vivanta 59 by Taj 4.5 Table showing Price 60 4.6 Table showing Overall experience 61 4.7 Table showing Points are based on how much you spend 62 4.8 Table showing Earning opportunity 63 4.9 Table showing Earning points is easy 64 4.10 Table showing Points can be earned only for one room 65 4.11 Table showing Process of redemption 66 4.12 Table showing satisfaction 67 4.13 Table showing Easy to reach higher 68 4.14 Table showing Gold and silver benefits are same 69 4.15 Table showing Suite upgrades 70 4.16 Table showing Personalised offers 71 4.17 Table showing Special deals and offers 72 4.18 Table showing More information 73 4.19 Table showing Customer support 74 4.20 Table showing Employees 75 4.21 Table showing Responsive 76 4.22 Table showing Reviewed 77 4.23 Table showing Visited 78 4.24 Table showing Marriott 79 4.25 Table showing Likes 80 LIST OF CHARTS TABLE CONTENTS PAGE NO: NO: 4.1 Graph showing Gender 54 4.2 Graph showing Age profile of the Respondents 55 4.3 Graph showing Vivanta by Taj is a contemporary and stylish 58 hotel chain 4.4 Graph showing Worth paying a premium for staying at Vivanta 59 by Taj 4.5 Graph showing Price 60 4.6 Graph showing Overall experience 61 4.7 Graph showing Points are based on how much you spend 62 4.8 Graph showing Earning opportunity 63 4.9 Graph showing Earning points is easy 64 4.10 Graph showing Points can be earned only for one room 65 4.11 Graph showing Process of redemption 66 4.12 Graph showing satisfaction 67 4.13 Graph showing Easy to reach higher 68 4.14 Graph showing Gold and silver benefits are same 69 4.15 Graph showing Suite upgrades 70 4.16 Graph showing Personalised offers 71 4.17 Graph showing Special deals and offers 72 4.18 Graph showing More information 73 4.19 Graph showing Customer support 74 4.20 Graph showing Employees 75 4.21 Graph showing Responsive 76 4.22 Graph showing Reviewed 77 4.23 Graph showing Visited 78 4.24 Graph showing Marriott 79 4.25 Graph showing Likes 80 EXECUTIVE SUMMARY The project work was done at VIVANTA BY TAJ, WHITEFIELD, BANGALORE in order to fulfill the requirement of MBA degree from Visvesvaraya Technological University. The main objective of the study is to assess the loyalty programs at Vivanta by Taj. The growth and success of the organization depends on the Loyalty program. So it is essential to make study it through a survey conducted on the customers. The Indian Hotels Company Limited (IHCL) and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and is recognized as one of Asia's largest and finest hotel company. Incorporated by the founder of the Tata Group, Mr. Jamsetji N. Tata, the company opened its first property, The Taj Mahal Palace Hotel, Bombay in 1903. The Taj, a symbol of Indian hospitality, completed its centenary year in 2003 The project report is divided into 5 chapter, chapter 1 includes introduction of study, objectives, need and scope of study, literature review and in chapter 2 includes industry and company profile, product and service profile, vision, mission, quality policy, SWOT analysis. Chapter 3 is all about Theoretical study of the project. Chapter 4 is about data analysis and interpretation. The findings and suggestions are then provided. LOYALTY PROGRAMS CHAPTER-1 INTRODUCTION The project experience at Vivanta by Taj provided insight into the nature, functioning and various aspects of the organization. It was carried out for a period of 10 weeks from 8th December 2014 to 14th February 2014. The internship has helped me understand better about identifying a problem in an organization. My external guide and the organizational staff have provided me with various inputs which helped me. The formal and informal discussions with the executives provided me an idea on loyalty programs related aspects. It was also found that the organization had issues relating to loyalty programs. The initial 15 days of the visit to the organization helped me to formulate the research problem, objectives, and designing the methodology. The next 10 days was usefully utilized in preparing the questionnaire and it was administered among middle management employees. The evaluation of the loyalty programs and employees perception on it was studied. The study has provided a clear understanding, knowledge and perspective which were of immense value. Vivanta by Taj was born as a part of Taj Hotels Resorts and Palaces' brand look. The brand has 19 hotels to the new name. The Research on performance management system concentrates on evaluating the existing performance management system and to know the employee perception on performance management system. NHCE, Department of management studies Page 1 LOYALTY PROGRAMS The study helps to know, evaluate, and understand the existing gaps in the loyalty program. The company is interested to evaluate the existing loyalty programs to make it effective and efficient. 1.1 TOPIC CHOSEN FOR THE STUDY The title of the study is ―LOYALTY PROGRAMS‖ 1.2 NEED FOR THE STUDY The Organization study done has clearly identified gaps in the existing Loyalty Program. If due attention is not provided in this problem area, it may lead to losing customers. The study was conducted to evaluate the existing loyalty program and to know the employee perception. The study helps to evaluate customer and employee perception and provide suggestions. The report provides detailed information on industry and company profile which can be used by further researchers. The research designed adopted was Descriptive research. Loyalty programs help organizations to increase customer loyalty and it also has its effects on customer retention and satisfaction. The study aims to identify and evaluate the existing loyalty programs of Vivanta by Taj. The customer and employee perception of the loyalty programs would go a long way in managing the customers better. The study is carried out to determine the gaps in the existing loyalty program. The organization will be able to improve their management of customers. Page 2 NHCE, department of management studies LOYALTY PROGRAMS 1.3 OBJECTIVES OF THE STUDY To evaluate the existing loyalty program keep company's customers and to retain their revenue To suggest a suitable method or strategy to improve the loyalty program 1.4 SCOPE OF THE STUDY The study is confined to the hotel industry of Vivanta by Taj in Bangalore. The study was conducted to know the existing loyalty programs and customer perception on the loyalty program. The study covers various components of the loyalty program such as Recognition, Preferential treatment, Personalized service, Exciting reward scheme and Building relations with the customers. 1.5 METHODOLOGY ADOPTED Statement of the Problem The hotel Industry has grown leaps and bounds after liberalization process in India. The components of hotel Industry: tourism and hospitality has attracted regional, national, multinational players all over India and the world.