Dear readers,
Hello. We have created a short video about the 4P’s of Generator Hostel, Venice, Italy, and key elements from the blog (https://blogmarketing85.wordpress.com/2018/10/17/the-marketing-mix-and-4-ps/).
Enjoy.
Here are the refereces:
Team 8.5
“To young backpackers, who want to explore the world, The Generator Hostel is a well-designed and modern place with an open-minded culture, that offers various kinds of accommodation at a cheap price for exchange of meeting other travelers whilst enjoying the various facilities offered.”
The statement above is particularly created as a summarization for all of the Generator Hostels, not just the Generator Hostel in Venice, as the concept of the chain remains the same. The Generator Hostels simply target young adults who are open to staying at a place that may not be the most luxurious, yet still offers the same facilities as a hotel. What is most important to young backpackers, is to have a bed and a roof above their heads. Of course, this can be offered by any other hostel, yet the Generator Hostel advances in this, as it brings lots of other benefits to customers.
To differentiate themselves, the Generator Hostels have applied a modern design of the interior and integrated workspaces, as well as activities to be enjoyed by anyone, such as a billiard table. At the beginning of 2018, some Generator Hostels have even removed the term “hostel” from their brand, as they want customers not to only see this place as somewhere where one can lay down and leave the next morning, but for it to be a full experience throughout. (Caroline, 2018) In this sense, their vision statement, which is to “lead the way in a new generation of hostels” (Generator Hostel, 2018), has led them to change the way they want customers to look at a “hostel”.
It is important to know where one stands and to have a specific target in mind, but most importantly to know what can be offered differently from one’s business compared to others around. To know the areas in which one advances to others and why customers should choose this and not something else. The Generator Hostel has a clear mindset and through their vision, as well as a mission statement, they make it clear to customers what their intentions are and thus, a clear positioning statement can be established.
Reference
Caroline. (2018, July 18). How the Generator Hostels are satisfying their audience with content strategy – Tremento. Retrieved December 4, 2018, from https://www.tremento.com/generator-hostels-content-strategy/
Generator Hostel. (2018). About us. Retrieved December 4, 2018, from https://generatorhostels.com/information/about?lang=en-GB
Marriott. (2014, February 25). My 12 Rules for Success. Retrieved December 5, 2018, from https://www.blogs.marriott.com/marriott-on-the-move/2014/02/12-rules-for-success.html
The Generator Hostel is part of a chain that focuses especially on low-budget young travelers. The needs and behaviors of these travelers differentiate from any other kind of hotel customers. Therefore, reflecting upon the hostels’ target market, the marketing persona chosen is a young, liberated, and willing traveler without a big budget. There will be a further analysis of the demographic segmentation, psychographic segmentation, and behavioral segmentation.
Related to the demographic segmentation, which separates the market into categories, such as age, life cycle stage, gender, income, occupation, education, religion, ethnicity, and generation. The Persona chosen is a traveler between 18-35 years. The chosen age range can also be seen on the Generator’s website, due to a focus on low prices. In the Generator Hostel Venice, one can have breakfast starting at 3.5 Euros. Related to the psychographic segmentation, which relates to the social class, lifestyle, or personality characteristics, the focal point is going to be people that are willing to merge within the culture of Venice. As is defined on their website: “It’s the perfect place to meet likeminded travelers and fellow holidaymakers”(GeneratorHostel, 2018)
Generator Venice is not only a place to sleep, but it also goes beyond that, Generator Venice is a place to meet new people and discover new cultures. Finally, within behavioral segmentation, which divides the market into categories, such as consumer knowledge, attitudes, uses of a product, or responses to a product, Generator Hostel is focusing their marketing into groups of travelers. Their variety of offers for groups makes their company highly attractive for this segment. On their website, they even offer reservations for groups confirmed for more than 20 people, as well as offer a private event in their bar for these kinds of customers.
Marketing Persona
Demographics
Personality
Goals
Challenges
What can we do
Reference
Fundmytravel. (2018, January 19). 10 Motivational Quotes for the Low Budget Traveler. Retrieved November 26, 2018, from https://www.fundmytravel.com/blog/2018/01/19/10-motivational-quotes-for-the-low-budget-traveler/
GeneratorHostel. (2018). EXPERIENCE & DESIGN-LED HOSTELS AND HOTELS. Retrieved November 26, 2018, from https://generatorhostels.com/
In addition to a qualitative and quantitative analysis of one’s business, one should consider constructing a SWOT analysis. This includes the Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis is a summary of these categories arranged in a table to identify where one’s business has been doing well and where they can develop from an internal, as well as external perspective. (Jackson, T, 2018)
(TripAdvisor, 2018)
As can be seen on the table above, the Generator Hostel Venice has several strengths. One of the most significant strengths for the Generator Hostel Venice is the fact that one of their facilities, the bar, is open until 2AM. As Venice does not provide the best nightlife for young adults, the Generator Hostel offers an opportunity to hang out with your friends past closing hours of locations in the city of Venice itself. This space is also equipped with indoor activities that anyone can enjoy, such as a Billard table. Although they present a huge variety of strengths, their weaknesses are illustrated through TripAdvisor reviews. One can, therefore, come to the conclusion, that their performance needs to improve, especially in the area of training and retraining staff. Such weaknesses do not need to be seen as something bad in particular, as it predicts how the hostel can improve in the future.
As Venice is the city to explore the arts, especially the yearly hostel Venice BIENNALE, the Generator Hostel in Venice has a huge advantage and a great opportunity to host customers on their premises (Harris, G, 2018). Not only is the BIENNALE an opportunity to gain revenue and attract customers to their site, but also the Carnival of Venice since the Generator Hostel Venice provides the perfect location, which is walking distance to the main part of town; the San-Marco district (Venice Welcome, 2018).
Although there might be some opportunities to attract customers to the Generator Hostel in Venice, there are still other several threats to the hostel such as the opening of LHM (Luxury Hotel Management) (Hotelmanagement, 2018), and the biggest being the Ai Tagliapietra Hostel in Venice, as the reviews from customers stated are mainly “Excellent” or “Very Good” (TripAdvisor, 2018). This may be due to the customer service, thus concluding from this threat, the Generator Hostel needs to work on their customer service through retraining the staff every once in a while, as it is shown as one of their weaknesses. Not only is the Ai Tagliapietra Hostel a threat to the Generator Hostel, but also any other hostel, providing the same facilities as the Generator Hostel, but with a more convenient location, such as in the San Marco district. 
Having looked at the competitive threat is one thing, but another crucial threat to the hostel, not only the Generator Hostel but also other hostels and hotels in Venice, is that there are floods around the city, preventing travelers to come and visit Venice itself. It is said that there will be an increase of 50% of flooding in the coming decade (Mack, E, 2018). As the flooding prevents travelers visiting Venice, the potential threat is that there will be no customers at all, as the city of Venice may be non-existent in the future if the flooding continues at this rate.
Having a SWOT analysis helps to summarize an overall analysis of one’s business in the big aspect. It encourages the business to improve and grow as a whole and to understand that even if some factors are not the fault of the own business, they should still find an alternative in order to improve and reach their goal.
References
GoodReads. (2018). A quote from The Sun and Her Flowers. Retrieved November 20, 2018, from https://www.goodreads.com/quotes/8846698-you-do-not-just-wake-up-and-become-the-butterfly
Harris, G. (2018, August 09). Venice Biennale 2019: The confirmed artists and curators so far. Retrieved November 20, 2018, from https://www.theartnewspaper.com/news/venice-biennale-2019-the-confirmed-artists-and-curators-so-far?fbclid=IwAR2ABXM8x-LHQ0EABk0JMMWZ_lH8MNqxoyMs0ye0HbVWAnbW4tGKc7gb-mM
Hotelmanagement. (2018, October 02). Developer sees opportunity in Venice. Retrieved November 20, 2018, from https://www.hotelmanagement.net/own/why-developer-sees-opportunity-venice?fbclid=IwAR0v-RaEwXPrtFRKLs_wF7OgGe3MdCALJ7MNBQkyqMqLTm5HCbSi_rUkqoo
Jackson, T. (2018, May 02). A Detailed SWOT Analysis Example (Applicable To All Industries). Retrieved November 20, 2018, from https://www.clearpointstrategy.com/swot-analysis-examples/
Mack, E. (2018, October 16). Rising Sea Levels Already Threaten Venice And These Other Historic Treasures. Retrieved November 20, 2018, from https://www.forbes.com/sites/ericmack/2018/10/16/these-historic-treasures-are-at-risk-of-being-lost-to-the-next-big-storm/?fbclid=IwAR29BO0as1b871Ff-rGPeu-GzRqqsdJyd1YgAmX0fRo8dUu6ZiEFDtplauo#55b746533232
TripAdvisor. (2018). AI TAGLIAPIETRA – Updated 2018 Prices & Hostel Reviews (Venice, Italy). Retrieved November 20, 2018, from https://www.tripadvisor.com/Hotel_Review-g187870-d12337788-Reviews-Ai_Tagliapietra-Venice_Veneto.htm
TripAdvisor. (2018). GENERATOR HOSTEL VENICE – Updated 2018 Prices & Reviews – Italy. Retrieved November 20, 2018, from https://www.tripadvisor.com/Hotel_Review-g187870-d239487-Reviews-or5-Generator_Hostel_Venice-Venice_Veneto.html
Venice Welcome. (2018). THE CARNIVAL OF VENICE. Retrieved November 20, 2018, from https://www.venicewelcome.com/info/events_of_venice/the_carnival_of_venice.htm
(Jets bulletin, 2012)
In order to further improve the analyzations already collected, it is a necessary step to gather qualitative information. Although in the previous blog post it was mentioned that the first step to compare the business to another is to find quantitative information, a qualitative analysis will provide further insight into the performance based on subjective opinions. The data collected is a qualitative analysis on the same hostels from the previous blog, examining different categories, such as the number of rooms, facilities, location, the condition of the property, different rates, strengths, weaknesses, and comments provided by customers on TripAdvisor. As one can see, only 3/6 hostels provided the number of rooms and only 1/6 provided when the property was opened. Yet most of them provided the same basic facilities and strengths, such as Free WIFI and a good location, most of the hostels compared to the Generator Hostel Venice are scored and viewed as lower than the Generator. From this analysis, one can say, the Generator Hostel has an extensive advantage in comparison to the surrounding hostels.
On TripAdvisor, some hostels had more reviews than others, indicating the number of people who have experienced at least one stay at the property. One hostel that provided the most positive reviews by customers was the Ai Tagliapietra. The analysis of this is to show the Generator Hostel who their most fierce competition is. Through reviews, they realize what areas need to be improved, such as customer service, and what areas they already have an advantage in. Most of the positive reviews for the Ai Tagliapietra were about the hotel manager and the staff service, therefore the Generator Hostel may conclude that service is a key element striving in the direction of positive reviews by customers, (North west, 2013) as it is the first point of contact.
The categories were chosen in the effectiveness of seeing a basic and detailed outline of each hostel in comparison to the Generator Hostel in Venice. No company is ever perfect, thus the collected data depicts the strengths and weaknesses of each hostel. This will and can help the Generator Hostel to improve their strengths and weaknesses given from a subjective perspective rather than objective.
Jets Bulletin. (2012, September 12). Is qualitative research still considered the poor relation? Retrieved November 11, 2018, from https://blog.efpsa.org/2012/05/20/is-qualitative-research-still-considered-the-poor-relation/
North West. (2013, October 3). The Importance of Customer Service in the Hospitality Industry. Retrieved November 11, 2018, from http://www.northwestbusinesslife.co.uk/news-item/the-importance-of-customer-service-in-the-hospitality-industry/
In order to succeed ahead as a leader in business, one must be fully aware of the surrounding competitors. As the Generator Hostel competes to be the “world’s leading design-led hostel”, (Hostel, G, 2018) they need to analyze what other hostels in the area have to offer to customers and always be aware of how various social media platforms rate the competition and itself. Therefore, a study of the quantitative statistical data will help to see how the hostel is doing in the market region of Venice.
The data presented in the competitive research plan is a quantitative data with information taken from TripAdvisor and other respective secondary sources. The information compares the Generator Hostel Venice to five other hostels all located near central Venice. For example, the research plan compares the room rates, TripAdvisor rankings, 5-star reviews and the total star ratings given by customers. As shown in the research data, the Generator Hostel has a competitive advantage among the other hostels with the highest 5-star reviews; hence, high numerical data provides a more accurate data and solid evidence supported by guests that visited.
Secondly, other noticeable information provided for the Generator Hostel is the 19th ranking out of all 247 hostels in the region and marks as the second highest rank among the five other hostels. Nonetheless, the star rating provided on TripAdvisor indicates that Generator Hostel Venice is rated 4 out of 5 in the star ratings, and it is the third highest rating compared to the other hostels. However, with the information provided, the Generator Hostel has the highest rate than most of the hostels nearby. This is a disadvantage as the Generator Hostel targets young millennials, but the price compared to other hostels is much greater. Lastly, the numerical statistical data provided by TripAdvisor allows customers to compare and contrast the hostel in the region (TripAdvisor, 2018). With the beneficial numbers and high reliability with the number of reviews, Generator Hostel has a competitive advantage over all other hostels in the region; hence, this quantitative data provides beneficial support for the overview of the Generator Hostel Venice.
Lastly, although sources such as TripAdvisor should be a useful source of recommendation, there are still limitations to the statistics given. Customers may experience different levels of service during the stay, with a lot of unknown factors, such as the attitude of receptionists, maintenance noises, or bad connection of WIFI due to high occupancy; thus, the impression the customer obtains from their stay will influence their perception on the hostel and provides different scores. After accumulating all the scores, reviews, and rating data, TripAdvisor then combines all statistical numbers and post it for other customers to view as references. Therefore, TripAdvisor could be biased to a certain degree where different customers will experience a different level of service and have different expectations.
Although taking quantitative data would help to see how the hostel is better or worse than other hostels, quantitative data illustrates numerical data to see instant differences, as it is clearer and visually more appealing. The Generator Hostel Venice advances in various categories, yet there are still improvements that need to be taken into consideration. As stated in the quote, innovation will push the Generator Hostel to become a leader. For this, they need to improve on the flaws they possess, learn from their competitors and innovate new ideas to move in the direction of their mission.
Reference
Hostel, G. (2018). About us. Retrieved November 6, 2018, from https://generatorhostels.com/information/about?lang=en-GB
TripAdvisor. (2018). GENERATOR HOSTEL VENICE, Updated 2018 Prices & Reviews – Italy. Retrieved November 5, 2018, from https://www.tripadvisor.com/Hotel_Review-g187870-d239487-Reviews-Generator_Hostel_Venice-Venice_Veneto.html
Woo, B. (2013, February 15). ‘Innovation Distinguishes Between A Leader And A Follower’. Retrieved November 6, 2018, from https://www.forbes.com/sites/bwoo/2013/02/14/innovation-distinguishes-between-a-leader-and-a-follower/?fbclid=IwAR1a_wcL9M2Md5ChK3-Y4i2e2eVgDLtgQ3g-695CDX1-aMO67K71yc21cKw#5a313a9e2844
The Macroenvironment consists of the larger societal forces – Demographic, Economic, Natural, Technological, Political, and Cultural – that affect the microenvironment (Kotler&Armstrong, 2017). Among all six forces, this blog will be covering about demographical factors, which allows forecasting future trends, impacting the Generator Hostel in Venice.
As stated from the past blog posts, the major goal of Generator Hostel Venice is to provide “social travel accommodation and public spaces for the young at heart” (Generator, 2018). Although not the largest, Venice is known as the most visited city — over 30 million tourists a year — in Italy, and according to the data, the young domestic tourists, between 25 to 44, in Italy recorded the highest (37.9%) amongst all age groups. 
The massive increase in tourists in Venice contributes to sales uplift of Generator Hostel Venice. Their goal was perfectly effective, as one of the guests wrote a positive comment about the decorations, opportunities to meet new people, and the astonishing atmosphere in the lobby to socialize (DJ played music) (Trip Advisor, 2018)
Generator Hostel Venice puts enormous efforts to follow trends for young generations by providing luxury rooms with comparably low price and public spaces recalling an Italian urban playground. Their efforts has led to receive honorable awards:
1. 10th Annual Hospitality Design Award Public Spaces (Lifestyle/Boutique) winner project Generator Hostel Venice
2. EHDA 2014 European Hotel Design Award Lobby, Lounge & Public areas category winner project Generator Hostel Venice
However, it is necessary for Generator Hostels Venice to keep updated with new trends not only in design, but also other aspects.
Anda Venice Hostel, one of the most potential competitors, does provide cozy and well-designed rooms with low prices. However, there are some deficiencies regarding the public spaces that hamper guests to socialize and make conversations compare to those of Generator Hostel. 
In addition, the concept — affordable luxury rooms — do not exist at Anda Venice Hostel, yet that is the trend that attracts the young generations in 2018.
Yet Generator Hostels Venice obtains a lot of advantages in the macroenvironment, there are still critical points they need to work on. Their concept is set, yet the competition is still fierce. To improve some aspects, they may want to implement special offers similar to that of Anda Venice Hostel, as they offer various deals, such as “Play&Stay” or “Group Travels”, which provides open opportunities for not only a basic hostel but also a place for artists in groups to practice their talent when they are away from home. It is always important to keep track of competitor’s strategies in order to improve one’s own business and reach ahead within all aspects.
References
About us. (n.d.). Retrieved November 3, 2018 from https://generatorhostels.com/information/about#mission
Anda Venice Hostel. (n.d.). Retrieved November 04, 2018, from https://www.andavenice.com/
Crowded Venice to separate tourists and locals. (2018, April 28). Retrieved November 3, 2018, from https://edition.cnn.com/travel/article/venice-separates-tourists-and-locals/index.html
Dattilo, B., Gitton, F., Khiati, A., & Sabato, M. (n.d.). Analysing cultural tourism in France and Italy. Retrieved November 3, 2018, from http://tsf2016venice.enit.it/images/articles/Papers_Forum/5.1_Analysing cultural tourism in France and Italy.pdf
GENERATOR HOSTEL VENICE, Updated 2018 Prices & Reviews – Italy. (n.d.). Retrieved November 3, 2018, from https://www.tripadvisor.com/Hotel_Review-g187870-d239487-Reviews-Generator_Hostel_Venice-Venice_Veneto.html
Kotler, P., & Armstrong, G. M. (2017). Principles of marketing. Harlow: Pearson Education. Page 92. Pages 96.
P. (2018, June 10). Italian Market Environment Analysing PESTEL by Proimpact. Retrieved November 3, 2018, from https://proimpact.it/2017/02/the-italian-market-environment/
Worldpopulation. (2018). Venice Population 2018. Retrieved November 3, 2018, from http://worldpopulationreview.com/world-cities/venice-population/
It is important to create advertisements, not only on social media platforms but also physical to the human eye to see. For the Generator Hostel in Venice, a poster on the side of a red brick wall building is perfectly suited as it has the same infrastructure of the hostel, as well as the fact that tourists take rides around the city on Gondolas flowing past these walls. Even if a tour is expensive, it is said to be “one of the great experiences in Europe.”(Openshaw, G, 2018) To come all the way to Venice, it is essential to go on a ride on the Gondola to get the real feeling of the old town of Venice.
In order to reach the Generator Hostel on the Guidecca Island, we decided to implement the idea of the gondola on the river to show the unique local transportation. Furthermore, the gondola not only represents the culture of Venice, but also presents an image to the audience of our competitive advantage, which is the location of the Generator Hostel. The local transportation and uniqueness of the Hostel provides an experience that is unforgettable and beyond comparison to other hotels in the region.
The house and the boat are not just utilities presented in the advertisement but has a concealed meaning in relation to Maslow’s pyramid. The base of Maslow’s pyramid is psychological, which is defined as the materials essential for daily basis. Shelter and transportation are one of the most important assets for humans and without a solid base, it is impossible to move up the pyramid. Safety and belongingness are the fourth and third layer of the pyramid, and the advertisement has presented a strong image of safety from the concrete red bricks, which is one of the missions that the Generator Hostel aspires to provide for the customers. Belongingness is then presented through the home away from home rooms provided in the Generator Hostel and these are the knowledge we would want our customer’s to acknowledge and take away with the Generator Hostel.
The advertisement has shown knowledge in understanding how the Generator Hostel has used literary analysis and images to demonstrates the meaning of the advertisement. The breakdown of the gondola boat shows how the Generator Hostel uses the marketing mix strategy to show the customer our strength in the location of the region, as well as the price budget for travelers through our targeted audience, the young millennials. Moreover, the setting of the advertisement displays knowledge of Maslow’s pyramid start from psychological, to safety, and to belongingness. By covering three out of five elements in the Maslow’s pyramid, it shows an important message being delivered from the Generator Hostel through the Advertisement.
Last, but not least, the colors chosen on the poster are not chosen at random, but specifically for a message the Generator Hostel wants to send out. Black depicts a sense of mystery. Red, being a color that draws attraction universally, portrays “courage, strength, and power” (GRAF1X, 2014). Both of these colors mixed together supports the mission statement of the Generator Hostel, in which they want to become the “world’s leading design-led hostel”(Generator Hostel, 2018). These colors illustrate their mission of wanting to become the most powerful and leading hostel, as well as still leave some mystery as to why and how. The message on the poster, follows up with the hostel, particularly focusing on young adults and wanting them to experience as much as they can whilst they are still able. Yet, to get the full experience of the Generator Hostel, one must visit and enjoy the journey along the way.
APA Reference
Generator Hostel. (2018). About us. Retrieved October 23, 2018, from https://generatorhostels.com/information/about?lang=en-GB
GRAF1X. (2014, September 14). Color meanings. Retrieved October 23, 2018, from https://graf1x.com/color-psychology-emotion-meaning-poster/
Openshaw, G. (2018). The Gondolas of Venice. Retrieved October 23, 2018, from https://www.ricksteves.com/watch-read-listen/read/articles/the-gondolas-of-venice
Nowadays, companies use the new marketing mix, a set of marketing strategies, in order to satisfy their target markets, which includes the 4Ps: Product, Place, Price, Promotion.
Product strategy is either a good or a service that always satisfies consumers. Generator Hostel in Venice is highly confident in satisfying any type of traveler. Travelers, regardless of their wealth, age or number, are able to choose a variety of options from Sky Suite, a luxury room pricing from 60 Euros per room, to either shared or private rooms in large or small sizes from 14 Euros per bed with a range of amenities included. Not only that, but it also provides special shared rooms from 14 Euros per bed dedicated only to females. The Generator Hostel succeeds on satisfying its potential customers by providing various options of room types with low prices.
Secondly, located on the beautiful island of Giudecca in Venice, Generator Hostel welcomes guests globally by utilizing its strategy (place), which is defined as the action that eases potential consumers to access the product. Consumers staying at the Generator Hostel have a mind-blowing opportunity to access to the city via “Vaporetto” – the water taxis – by foot. Furthermore, the beauty of the island has been inspiring not only thousands of artists coming for the marvelous architecture, but also celebrities participating in the Venice Film Festival.
Thirdly, the price strategy, meaning the money paid by the customers to use the product, has been the prime tactic for the Generator Hostel. Generator Hostel sells rooms with unique and trendy interior design combining modern architecture at a budget price. Indeed, it is almost impossible to find any lodging companies with comparable quality.
Last but not least, the Generator Hostel offers exceptional promotions, a strategy used to boost the brand’s recognition or products. Most importantly, the Generator Hostels group is proposing 25-percent discount on any two night stays between the beginning date of November 2018 to the end date of March 2019.
Generator Hostel develops important individual specific tools to attract new consumers and retain returning consumers. One of the key tools is the selling of unique, old fashion interior design mixed with contemporary arts. The rooms can come in shared, private, mixed rooms depending on the consumer, which provides a new experience to live in the setting of dorms and bunk beds with other guests. To accommodate guest experience, Generator Hostel provides social areas, café, bars for guest to socialize and rest after a long journey, as well as restaurants for foreign consumers to experience the local cuisines.
In order to reach Generator Hostel, customers can experience the transportation ride of Vaporetto or ferry, which is an advantage against all other competitors and stand out. The style of shared rooms may seem appealing due to the low price; however, many guests complain about the noises of other guests, no privacy during the stay, and cleanliness of the rooms and bathrooms. Generator Hostel has just won Hostel of the month in July 2018, and continues to strive on improving the Hostel by ensuring the guest’s stay is stylish, safe, and social.
Based on the research made so far, the Generator Hostels target both groups and individuals; corporate and leisure. They want to be recognized as the world’s “leading design-led brand”. This is diversified and depicted through their architectural choice and facilities offered. The design and technology works for consumers wanting to travel on a low budget and still benefit from necessities of this generation.
A clear path to success in the market is defined by what your vision and most importantly, mission is. The addition of a vision and mission statement is critical to revealing the truth of what you offer, as well as provide, displaying your values. (TX. K, 2017) Identifying these statements will ensure for a company to accomplish their intended actions due to a steady base.
The Generator Hostels clearly state their vision and mission on their official website. This ensures security, as it shows the clear-cut direction of the company. They clearly state that their “vision is to lead the way in a new generation of hostels,…”(GH. 2018) and to be “stylish, contemporary, central, social and safe”. Already in the vision statement, by definition meaning, being the dreaming component, states how your company will change the market. Consumers will recognize how different the Generator Hostels operate. With their forthcoming leadership role, they want to demonstrate and educate diverse new hostels into turning their simple hostels into an environment of freedom, accompanied by security.
In comparison to the vision statement, the mission statement is the action component. Our company’s mission statement is “to become the world’s leading design-led hostel brand”. A mission statement precisely explains who, what and how you will provide in order to fulfill the requirements of your goal. Generator Hostels concentrates on selling “stylish, cool yet affordable accommodation in centrally located hostels with event-led, soulful social spaces”.(GH. 2018) All of what the company has to offer will tremendously attract a collection of young adults to come running. Besides the fact that every hostel is designed differently, the variation of food&beverage also has a great impact.
The vast majority of young adults love adventure and with the Generator Hostels, this might be one of the best cheap steals. Even the values of the hostel correlate to our minds; “being stylish, social and safe”. These visions help companies succeed; this is positively projected in their current revenues of over €70m. (Resources, H. N. 2017)
Consumer aspirations are achieved through various facilities and experiences. Referring to Maslow’s Pyramid, the base of the pyramid indicates that physiological and safety needs are the crucial basis of achieving an outstanding experience (Mogelonsky, L. 2017). Generator Hostel provides a safe, stylish, and social environment for the guest; hence, showing the dedication of the hostel to ensure the happiness and wellbeing of the consumer. However, after viewing numerous reviews on TripAdvisor, most guests complain about bedbugs, bad shower, and crowded rooms, which directly affects the physiological aspect (TA, 2018). The Generator Hostel Venice can potentially improve the consumer experience by taking greater care of the facilities in rooms, and ensuring that it is as clean as promised.
Furthermore, going up the pyramid, the needs for consumers changes from physical to sentimental needs. Love and the sense of belonging and self-esteem are the third and fourth layers of the pyramid, and it is important as a consumer to feel these emotions because without feeling welcomed or warmth from The Generator Hostel, the guests would feel uncomfortable and not return (Mogelonsky, L. 2017). Self-esteem is accomplished through the newly renovated facilities around the hostel for the guest to feel worthy of their stay and the budget they are paying for. On the other hand, bad reviews on TripAdvisor indicate the front office/reception is extremely unfriendly and rude. The sense of welcoming is not reached from the moment the consumer enters and the sense of belonging is lost (TA, 2018). Potential methods to improve include training the staff regularly to ensure everyone welcomes new and returning guest. Moreover, having a credo or a motto will enhance the unity, standard, and quality of Generator Hostel Venice.
Reference
BQ. (2018). Mission Quote. Retrieved October 8, 2018, from https://www.brainyquote.com/topics/mission
GH. (2018). About us. Retrieved October 6, 2018, from https://generatorhostels.com/information/about?lang=en-GB
Mogelonsky, L. (2017, April 01). The guest experience hierarchy. Retrieved October 8, 2018, from https://www.todayshotelier.com/2017/04/01/the-guest-experience-hierarchy/
Resources, H. N. (2017, March 13). Generator Hostels Sold for 450. Retrieved October 9, 2018, from https://www.hotelnewsresource.com/article93562.html
TA. (2018). GENERATOR HOSTEL VENICE $45 ($̶1̶2̶4̶) – Updated 2018 Prices & Reviews – Italy. Retrieved October 8, 2018, from https://www.tripadvisor.com/Hotel_Review-g187870-d239487-Reviews-Generator_Hostel_Venice-Venice_Veneto.html
TX, K. (2017). Best Examples of Company Vision and Mission Statements (from A to Z). Retrieved October 8, 2018, from https://www.themarketingblender.com/vision-mission-statements/
The Generator Hostel Venice 