Market Penetration Analysis, REVPAR and GOPPAR
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1. What is a market penetration analysis? What are the steps in creating a market penetration analysis? Why is a market penetration analysis important in the lodging industry?
2. What are REVPAR and GOPPAR? Why are they important in market and financial forecasting for a lodging operation? Is one more important than the other? Explain your answer.
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Solution Summary
This solution discusses market penetration analysis as well as REVPAR and GOPPAR.
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Market penetration analysis is the process of figuring out your needed target audience based on your revenue goals established in the strategic plan. The first step is to figure out the revenue goals for the company. Then apply that to how many customers it will take to get to that goal. This means figuring out how much will be generated per consumer using your product or service. This is done by considering how much each customer will be expected to pay for the product or service and how many of each customer will be needed. In some industries, such as airlines, how many services ...
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