“Conceptualizing and Revolutionizing the Idea of Bar Business in the Metros of India”.

Like every other student who pass out of a catering school ,even I am dreaming to start something of my own. Well for me I have something in mind .and that something is that which involves the starting of the greatest possible way of making capital for a long period of time. I am planning it bigger and better. Something like “cocktails and dreams”. 

My idea of “Revolutionizing the Bar Business in the Metros of India”, is a not a very distant accomplishment. And bar business that I mean here is not just another bar where you go and enjoy the sip of beer and relax. It will be something much more complex in process and sophisticated in nature and very simple in its approach. I want it to be an entertainment for the guest in the 1 sq mile of my Chic Cocktail Bar, where I believe lays the greatest concentration of wealth in the world.

There is no better way of making it than behind the 3 ft of mahogany, they say. For the same me as an entrepreneur should outthink, out scheme, outmaneuver and definitely out work.

Bartending as the definition say is the art of serving beverages behind a bar. And the person who does this service is the bartender. Who is a bartender? In lay mans language, a bartender is a person who serves beverages behind the bar . May it be alcohol, wines, beverages or cocktails. Cocktails being the most revenue generating of all depends on the bartender who also act as a Mixologist at that point of time. For a bartender a customer is a means to an end. They can puzzle the customers with ice work and dazzle them with the bottle work. To me a bartender is the aristocrat of the working class. If he knows how to make the moves right and win the customers heart the money will just flow in to the organization, come hell come high water. The essential technique of bartending is that unless you pour , the more you shall score. Faster is definitely better for a bartender.

My concept in this Cocktail bar will be very simple. The guest can surely order their favorite classical cocktails may it be the sex on the beach or schnapps made from peach, the golden hammer the Alabama slammer, the Mojito with can go well with the burrito, the cosmopolitan or Cuba Libra and above that the bartender will make them drinks with his mixology skills for what they like and what they want to drink. I believe for a quality Cocktail, you should use quality spirit ,mixers ,alcohol, or let it be even the garnishes. On completion it should be a classy drink both in style and in quality.

This is the intro of my new research on “Conceptualizing and Revolutionizing the Idea the Bar Business in the Metros of India”. Stay tuned for more updates

Interview With Mr Rishab Tandon...

CHAMPION OF CAMPUS- IHM MUMBAI 2008-2011

Pankaj Balachandran, one of the most successful performers during the placement season and titled as the coolest and the professionally sound 

candidate by the recruiters during the interviews. Made it to various companies including the esteemed Taj Management Trainee and the ITC Hotel Executive Trainee program.

Rishabh- The most proud moment of your life during campus recruitment, share the efforts that went in to crack such bigger company’s selection process.

Pankaj-   The entire campus recruitment gave me several proud moments. I am humbled that the efforts that went in did pay off well. One of the moments I will cherish lifelong was at Marriott’s. The General Manager of J.W Marriott gave me his business card after interviewing me and said excellent performance and told me that you would do extremely well in Sales and Marketing.

Rishabh- The weirdest Group Discussion topic you faced in the campus placement.

Pankaj-   “Be what you are and say what you want . Because people who mind don’t matter and people who matter do not mind” . This was the weirdest topic that I have had in a GD so far. Not that the topic was not good enough .It was indeed a fantastic topic. Its just that I don’t remember what I spoke for it but I guess I really spoke well, otherwise I wouldn’t have got selected. Ha-ha.

Rishabh- The toughest question you ever encountered in multiple interviews faced.

Pankaj-  hmmmm. I must say. There is no tough question as such that can be asked. If you think you will be canned then sorry you will be for sure. So get into the room with full of confidence and not over confidence. And if you would like to know how questions can be like here is one tough small question for starters. “Impress me in the next 30 seconds or sell yourself “

Rishabh- The most repeated question faced in multiple interviews and how you responded to it.

Pankaj- So Pankaj! Tell me something about yourself!! This is a question that not even a single organization failed to ask me. And by the end of the 3^rd interview I was well prepared for this answer. 

Rishabh- I personally remember that after not making it to OCLD which was one of your first process, your confidence level was a little low. How you recovered. Recollect the most difficult step in the selection process and the company which made you thinks hard.

Pankaj-

Yes not making into OCLD and rejecting the first offer (OCER) was a big blow to me. But everything from that moment started inspiring me  I was trying to make myself aware that nothing was impossible and all you need to do is that your ”want” should be treated as your “need”. And when Taj came for campus placement I decided that I will prepare for it  to give my best and most importantly I started believing in myself . And I started believing that my deepest fear is not that I am inadequate, my deepest fear is that I am powerful beyond measure!! And that did the magic for all the subsequent interviews.

Rishabh- Tips for your juniors to continue the legacy of “being the best” in placements. Share your mantras on grooming, interviews, discussions and more.

Pankaj-    

Well I like the sound of it, “Being the best” in placements. What I ask my juniors to do is believe in yourself and be what you are. Every organization is looking for that ‘X’ Factor and knows that every organization is looking for different factors.  Know what the organization wants from you. Mould yourself before interviews into that slot which the organization want you to be. Faking doesn’t help.

Discussion: I have always tried to be very diplomatic when it comes to discussion. What you speak is seldom important but how you speak does the magic.  The way you see the topic make the difference. Always wait and understand what the topic is all about and get a bird’s eye view of the topic. There will be several people who start just as soon as the topic is given. Let them be. Your  approach to the topic should be like” the calm before the storm”. Get the crowd in your hand and control it.

Interview: Do not drag an answer. The interviewer is not there to listen to a story from you. Your answers should be polite and to the question. Make yourself comfortable and judge the panel very well. Do know who is going to interview you and you should be prepared how to answer each question. Learn what the ‘x’ factor is for the organization and be on track. Pay good attention to the presentation. And rest of it will come to you then and there just be yourself and keep your cool J

Rishabh- Pankaj by being recruited by so many companies and ultimately you have to choose one, isn’t it difficult to make your decision. Do you think we should come up with some strict rules on the same.

Pankaj-    Yes indeed it was a difficult decision. The biggest problem is that we get a confirmation from the company very late and we still sit for interviews thinking that we won’t make it to even one company. I did not sit for several organizations like Leela Hotels, Starwood, Park, Holiday Inn , Four Seasons etc after I got my confirmation of Taj . And when I got the confirmation of ITC I didn’t not go for the final interview of Marriott’s. I confined my selection to Taj and ITC and it was a big headache to decide which one to choose. So guys before you sit for an interview decide what you want to do. Decide if you would truly love working for the organization. I chose Taj because I wanted to work for it. I saw the hospitality of Taj not just to the guests but to us as well.

Rishabh- Share your motivational mantra, quote and idol.

Pankaj-

“Your deepest fear is not that you are inadequate, your deepest fear is that you are powerful beyond measure. It’s not the darkness but the light that frightens you the most”.

Every time I am out there waiting for my turn to get grilled in that four walls of the interview I say these lines to myself and the truth is I started realizing I am indeed what I want myself to be and that thought motivated me and kept me going.

Rishabh -Plans for the next 02 years.

Pankaj-  I will be working with Taj for the next 4 years undoubtedly after that I would like to do an MBA in Hospitality abroad. Taj sends their employees for the same so I will be aiming for that.

Rishabh- Lastly do you want to acknowledge people (parents, friends and the college) for making it happen

Pankaj- Reaching the top wouldn’t have been possible without people. May it be faculty ,parents, teachers and my own dear friends. I would like to extend my sincere thanks to all of them. And to you sir who always told me after the Oberoi’s process  “You are made for better things .Your future lies in the Corporate World”.  It has always helped me going and growing.  And lastly let me not miss out to thank the God almighty with whom I would have had faith and courage to face every Endeavour.

Wishing you all the very best in your future endeavors.

BRAND CAPTION- A NEW MARKETING BUZZ

A tagline is a variant of a branding slogan typically used in marketing materials and advertising. The idea behind the concept is to create a memorable phrase that will sum up the tone and premise of a brand or product (like a film), or to reinforce the audience's memory of a product. Some taglines are successful enough to warrant inclusion in popular culture.

Having an attractive tagline comes under brand promotion. Brand promotion is a strategy that is commonly used in marketing in order to increase customer loyalty, awareness of products, and sales. Instead of focusing on a specific product or products, a company instead tries to focus on the promotion of its brand. This strategy has been proven to be very effective in marketing, and many companies currently employ it. Typically, companies rely on repetition in advertising in order to familiarize customers with the brand. Brand promotion also leads to increases in sales in many cases.

The Authors on doing the research found out thats all the five star properties have some specific tag line which explains and promotes the brand. For eg the biggest hotels chain in India have the following tag line or single line brand caption

“Nobody gives you India, Like we do.”

ITC Welcomgroup Luxury Collection

 “Filling the earth with light and warmth of hospitality.”

Hilton International Hotels

 “Taj Holidays…It Stays With You.”

“Engage, energize, relax! Experience the new signature in hospitality” .Vivanta by Taj

Taj Hotels, Resorts and  Palaces

 “At Trident ..You are Sure."

Trident

 “Relish, Relax and Rejuvenate this season with our bespoke experience.”

Four Seasons International

If employees are happy , then the guest will be happy :- Motivational strategies

 The authors found out from the response to this question that 56% of the managers used non-monetary incentives while 22% preferred non-monetary rewards for executives who reached their targets.

However they also found out that the managers are aware that the job of a manager in the workplace is to get things done through employees. To do this the manager should be able to motivate employees.

When people think of honouring employees for jobs well done, they may typically think of monetary rewards. However, these may be neither necessary nor the best type of reward. Once offered, cash bonuses can come to be expected and quickly forgotten, especially if they are the only recognition employees receive.

By contrast, frequent, positive feedback provided within an enjoyable, team-oriented environment makes a tremendous difference in employees’ sense of being valued and, as a result, their commitment to your company. With or without financial rewards, these cultural aspects of the workplace could be the smartest investment in the staff and business.

Praising employees for achieving their goals is important in maintaining an enjoyable work environment. Management can show their appreciation with positive feedback; however, if they go a bit beyond verbal praise, they can enhance employees’ motivation without spending a lot of money.

With these good intentions, there are still potential drawbacks. For example, improvements in performance may be temporary, rather than long term. In addition, employees could lose their intrinsic motivation: they can become motivated solely for gaining a tangible prize, especially if it’s a substantial monetary reward, rather than for experiencing the satisfaction of accomplishment. These challenges can be avoided by maintaining a positive, motivating atmosphere.

Certainly, monetary incentives and rewards could be part of your employee-recognition program. However, it is critical that these incentives not be the only or primary strategy for motivating and retaining employees.

On the surface, financial incentives may seem to be the most meaningful forms of motivation for employees. However, the short-term benefits may be far outweighed by long-term disadvantages, which could turn your costly financial incentives into serious deterrents to employees’ productivity. As a result, your company’s profitability could suffer, and you may be faced with further costs of replacing employees who leave for more satisfying work environments.

Similarly, if cash bonuses are presented on a schedule, such as around the holidays, they probably come to be expected. This reaction could be avoided if bonuses are given randomly, when you have extra money to share with employees. However, before deciding to present cash bonuses, determine if that money could be better used to expand your business. Express to employees how their contributions resulted in the extra cash flow, and rally them up for investing that money into exciting new possibilities for themselves and the organization.

Brouchure's or standard presentations?

Using brochure holders are a great idea as they offer the opportunity to show off your services to the customers you are advertising to, but still have them sitting up nice and neat. For those who are not interested, they can walk right by. No one has to hand them anything as the holder will carry the information and be available for those who want it.
Many businesses use this to show off their business information. It is very convenient to use as the container can be easily placed on a desk or a welcoming area of a business. It can be on a wall or in a lobby. These containers will show off the information that the business wants the customer to know about, without taking attention away from the information itself.

Not only does this allow the business or event to tell the community about their services or what they have planned, it also provides a place for the customer to read about it and then asks questions, without feeling that something is being pushed on them. Having people from the business or event present to answer questions makes is even nicer.
Really good information will have coloured pictures that will demonstrate the message that the business or event is trying to provide and will draw the customer to it. This provides an avenue for the customer's curiosity to get to them and ask all the questions they like to the available people. If one is starting up a new business venture, one probably have a  lot of questions in the mind.
How do I reach my target customers?
How should I communicate my sales message to them?
Would they be influenced by it?
Will I be able to create a place for my brand in the market?
Would I be able to face the challenges from my competitors?
The short answer to all the above questions is simple : Use presentations.  .
Video presentation is the latest and most- cost-effective marketing tool. It can help you reach out to your target audience easily and quickly.
A presentation can be used to give detailed information about your product or service. It can inform customers about the unique features of your product in an interesting and persuasive manner.

For instance, use of interactive slides, images, background music, and other advanced media tools help to grab the attention of your target audience. .
Another reason presentations are preferred aver brochures and booklets is that people usually do not bother to read brochures or pamphlets that are distributed to them.
Most of the times they are binned and do not yield any returns for the company.
Presentations used during trade shows, exhibitions, and other such customer touch points ensure that your marketing message is retained by the intended audience.
Presentations can be used to gain an upper hand over your competitors by. Presenting your brand in such a manner that it blocks’ your competitor’s benefits.
For that, it is advisable to carry out a thorough market research. This would help you know the extent of competition in the market and prepare your video presentation accordingly.

Having indicated the positives and the negatives of both the promotional tools, the authors found out through the questionnaire that a majority of executives believe that standard presentations of hotels are more beneficial

Revising a Marketing plan for Hotels.

A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line.
The Marketing Plan is generally undertaken for one of the following reasons:

•    Needed as part of the yearly planning process within the marketing functional area.

•    Needed for a specialized strategy to introduce something new, such as new product planning, entering new markets, or trying a new strategy to fix an existing problem.

•    Is a component within an overall business plan, such as a new business proposal to the financial community?

On researching the marketing management of luxury hotels in Mumbai the authors found out that every organization takes into consideration several points in revising a marketing plan. Ultimately, a marketing plan is about results, about making your business better. after interviewing the Head of sales and Marketing of various five start hotels in Mumbai the authors came to a conclusion that a marketing plan is revised if any of the following 

1.Forecast of the new financial year: according to Ms. Radhika, Assistant Sales Manager of ITC Maratha a marketing plan will be revised if the organisation is setting a higher target for the next financial and the current plan will not be enough to achieve the target. She added that before revising the marketing plan the organisation will also consider the last year performance and the environmental changes or changes in the market or market situation.

According to Mr Siddesh Phadnis, Asst Sales Manager, Trident Bandra Kurla Complex,a marketing plan has to be revised or reviewed if there is a new inventory or competition in the market. he added that if an organisation is planning to expand or increase its room inventory they should consider the current market plan that is carried out by the hotel and improve it further according to the current potential.

 Mr Nabeel Pabolo, Sales Manager at Four Seasons Hotel pointed out that the marketing plan is revised and has to be reviewed depending on the economic stability, budgets for the current financial year, Property expansion plan, global dynamics, inflation, government stability and so on.

The authors found out there are several many factors which have to be considered before revising a marketing plan. A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line.

Setting Targets For Hotel Sales Executives.

Specified amount of sales that a management sets for achieving or exceeding within a specified timeframe, and allocates required resources is called Sales Targets. Targets should be set to give a clear indication of what kind of performance is expected, and incentives should be provided to encourage sales staff to meet and exceed those expectations.

 The Authors found out that the targets are divided into mainly three categories namely:

Targets for New clients – This is the main role of sales people, to bring in new clients who have never previously experienced the brand or service of the hotel.

Targets for Existing Clients – It’s likely that there are product or service enhancements that you can sell to existing Clients, known as up-selling. Up-selling is the key to success for any industry and it is the most profitable tool.

 Targets for Past clients – Previous customers should not be considered lost forever. Set targets to encourage sales people to pursue past customers.

 Most of the luxury hotels in Mumbai set targets for the clients according to the territory that they look after. It also gives the proximity of the executives to the hotel. The targets will be higher for those executives who are closer to the hotel and vice versa. Certain other hotels set their target according to the experience and potential of the executives. Target set also depend on the city where the hotels is located. One of the most important points to be noted before setting the targets for a sales executive is to identify the sales or business of the last year. The authors found out that certain hotel also look into the upcoming events and celebrations in the region before fixing the sales target. The sales and marketing heads do also consider the past trends and future competition.

The authors found it very surprising to have found out that even logistic opportunities end up being one of the major parameter in setting the target for the sales executives. For example, if a new flight service is started from an international destination to India, it can increase the potential customers which can also help in increasing the sales of our organization and hence it is also considered while setting the targets for the sales executives.

 Some luxury properties set their targets for the sales executive according to the portfolios. Their prime look out is into the presence of competition and corporate.

The authors found out that several ways or methods are used in setting the target for the sales of the sales executives. Each of these methods is equally relevant and helps in understand the market from a wider perspective so as to set an apt target for the sales executives.