Hospitality Business Development

Hospitality Product Development examines the nature, and unique characteristics, of the concepts, products and services offered in the international hospitality industry. Considering the essential features of the strategic business context, in which any hospitality organisation operates, this book:



Relates key strategy development considerations and frameworks to product development

Examines the shifting nature of demand, evaluating consumers behaviour and the consequential impacts on consumer/product relationships

Evaluates the critical success factors and challenges of developing new hospitality products

Hospitality Product Development contextualises the issues through case study application in each chapter, which cover a broad range of hospitality sectors including in-flight catering, licensed retail, school catering, fast food and hotels. Equipping students and aspiring hospitality managers with the necessary knowledge, expertise and skills in product development, this book is a must-read for any one studying or working in the hospitality industry.




Readership
Undergraduate students years 2-3 on hospitality management, international hospitality management and hospitality studies courses.

Contents
Preface
Acknowledgements
About the Authors

PART I: PRODUCT DEVELOPMENT / ENVIRONMENT


Chapter 1: Why Product Development?


Learning objectives

Introduction

The nature of the hospitality products

Importance of Product Development

Managing Product Development

Key Factors in Product Development

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading


Chapter 2: Hospitality Products

Learning objectives

Introduction

The Hospitality Industry

Hospitality concept & Sectors

Environmental analysis

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading

PART II: HOSPITALITY CONSUMER & PRODUCT RELATIONSHIP


Chapter 3: Hospitality product and customer

Learning objectives

Introduction

Customer attraction and Retention

Customer Behaviour

Product Development through Customers

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading


PART III: PRODUCT PLANNING AND MANAGEMENT


Chapter 4: Product Planning and Funding

Learning Objectives

Introduction

Funding Sources

Direct

Private Sector (e.g. Bank Lending; Venture Capital; Equity)

Public Sector (e.g. European Commission; Central Government; Local Authorities)

Voluntary Sector (e.g. Conservation or Educational Trusts)

Indirect

Private Sector (e.g. Leasing; Franchises; Sponsorship)

Public Sector (e.g. Land/Buildings; Infrastructure Provision; Tax Allowances)

Voluntary Sector

The Business Plan

Structure of A Typical Plan

Summary

The Business Idea

Target Market

People

Marketing and Advertising Strategy

Premises and Equipment

Financing and Assets

Financial Projections

Summary and Conclusions

Review Questions

Case Study

Glossary of Terms Used In This
Chapter

References and Additional Reading



Chapter 5: Product Success and Failure

Learning objectives

Introduction

Product Performance Measures

Financial

Relationship enhancement

Market Development

The Scorecard Approach

Financial Perspective

Internal Business Perspective

Innovation and Learning Perspective

Customer Perspective

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading

PART IV: PRODUCT DEVELOPMENT ROUTES AND PROCESS


Chapter 6: Competitive advantage Through Product

Learning objectives

Introduction

Generic strategies for achieving competitive advantage

Cost Leadership

Differentiation

Focus

The Strategy Clock

Price Based Strategies

Differentiation Strategies

Strategies Likely To Fail

Ansoff?s ?Growth? Or ?Product-Market Matrix?

Market Penetration

Product Development

Market Development

Diversification

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading


Chapter 7: Product Development and growth

Learning objectives

Introduction

Dimensions of Development directions

Market coverage

Products

Competence base

Expectations

Types of Development methods

Internal (or organic) development

Acquisition or merger

Types of strategic alliance

Joint Ventures

Management Contracting

Licensing/Franchising

Consortia

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading


Chapter 8: New Product development/Innovation

Learning objectives

Introduction

New Product Development Concept

New Product or Service Development Process

New product strategy

Idea generation

Screening and evaluation

Business analysis

Development

Testing

People Involvement in NPD

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading


Chapter 9: Renovation as A product Development Tool

Learning objectives

Introduction

Toward a Renovation Concept

The Significance of Renovation

Types of Renovation

Renovation versus New Construction

The Renovation Process

Driver Analyses

Planning and Controlling

Determine Objectives

Alternative Plans

Team

Budget

Timing (Scheduling and Phasing)

Marketing
Implementation

Evaluation

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additional reading

PART V: CONCLUDING REMARKS


Chapter 10: Conclusions and Further Thoughts

Learning objectives

Introduction

Critical Success factors of Product Development

Link to overall business strategy

Balanced product development portfolio

Clearly defined product development strategy

Appropriate human and physical resources

Management Support

Understanding the consumer, competitor, market and environment

Evaluating Product Development

Further Research

Summary and conclusions

Review questions

Case study

Glossary of terms used in this
Chapter

References and additio

Author Information
By Ahmed Hassanien, Lecturer, School of Marketing, Tourism and Languages, Napier University Business School, Scotland

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