Market and Competitor Analysis of Hotel Industry

food market and Competitor analytic thinking of Hotel IndustryMarket abridgment Industry and controversyEXECUTIVE SUMMARYBusinesses fail to define satisfaction in the equivalent way that nodes do. Customer relationship satisfaction is measured by bear traffic and recommendation of the store to new(prenominal)s (Thompson 2004, p. 104). While customers can agree to these behaviours yet 60% of customers who relieve unityselfd a business they were loyal to, said they would likewise memory at the competition ( male parentogh 2000, p. 1). How consumers perceive a exclusivelyiance or reaping depends upon varying factors different for each individual (Whelan 2004). It is startle of the job of the e- merchandise psychoanalyst to disseminate how their client will gain market sh ar and private-enterprise(a) advantage through marketing schemes. With regard to the touristry industry and creating customer relations, it is important to remain unequ exclusivelyed and as individu al as any customer. How does one do this with limited time and funding? Customization of a mesh weathervane grade is key to advantage challengingly also creating a unique experience on the mesh site and at the destination is part of corner marketing and a main cornerstone to any tactic.general OVERVIEWIt is of utmost importance to carry out an analysis of the industry per business trading operations and define the competition. As part of this creation, a market analyst should keep in mind different models in which to decipher the up-to-the-minute state of the market and where to gauge an disposals advantage. For the propose of this presentation and understanding the tourism industry, four models chosen for this analysis be (1) arise analysis, (2) PESTEL analysis, (3) Michael Porters Five Forces and (4) capital of Massachusetts Matrix. By comparing and contrasting the Althorn weathervane site with the competition of other stately English homes, one can cleanse asses s the marketing plan and keep back to make appropriate changes. The web sites chosen for re scenery with Althopr.com be as follows (1) bluebonnetcastle.com and (2) Muscottmillfarm.co.uk.MARKET INDUSTRY synopsis SWOT AnalysisThe Historic Monument Travel IndustryStrengths and Weaknesses atomic number 18 take careed internal factors while Opportunities and Threats are external to company (SWOT Analysis 2005). It is important to none the analysis using this tool is very(prenominal) ingrained in constitution. When it comes to niche run short, Englands stately homes, castles and historic monuments fall into a very distinctive category that surprisingly appeals to legion(predicate) voyagelers sense of history. What makes the online comportment special is universe about to capture history while maintaining a certain level of current events, even celebrity about staying somewhere unique.(S)trengths Places deal Althorp and Balmoral consecrate the essence of royalty engrained into the realize and experience. These fixs maintain been witness to infamous times in history and famous batch as well.(W)eaknesses Historical sound destinations may also concord an piece of cake of affluence about them, which could limit their target audience potential. This feeling of being beyond reproach may send mixed signals to the common man.(O)pportunities Because send outs identical Althorp and Balmoral are well k right awayn to the public because of their relationships to royalty, this propels them into the spotlight to a greater extent than other less bashn sites like Muscott grinder. These bulge outs like Balmoral hire history hardly also many opportunities that a smaller place cannot take advantage of. Places like Balmoral and Althorp also have a following where product sales with branding becomes key to continued image and public awareness. This allows them more interaction and further enthronization into different ship canal to capture the audience such as private rentals and entertainment events like golf and concerts.(T)hreats Consumers may be afraid to voyage because of the war in Iraq and threats of terrorism, increased security being time consuming. Also times are tight for a lot of mass due to increasing capability costs and lack increased spending power. Many people have chosen to stay home or vacation close to home. Places like Althorp need focus on local tourism.ALTHORP.COM CURRENT AND POTENTIAL MARKETSPESTEL AnalysisThis outline analysis takes into account external forces, which may have act on the establishments success (PESTEL Analysis 2005).(P)olitical The political force that may modulate Althorp is its relationships with the surrounding local community. Many do not want to chit-chat their neighbourhood tarnished or changed by the tourist traffic or think Althorp take advantage of their royal status. Environmental This is a very fashionable topic, the notion of going green but needless to say something to consider adopting as part of the new image tactic. Also Althorp should consider the discharge demands of travellers and maybe run a promotion with a local hotel or petrol station.(S)ocial Social forces at work externally could be a fear of flying or travel. Also in times of trouble, people band together, become appressed within their communities. Althorp should consider steping closer to home and cultivating a relationship with locals. They should use the Internet as a tool to focus globally.(T)echnological Obviously the web site is classy and reflects the boilers suit image of Althorp as a stately home with beautiful grounds. The web site should using appropriate e-tools to continue consumer interaction. These e-tools vary from pod modeling to blogging but also create a more intimate interaction with the public, which also reflects another image of Althorp being a special place for Princess Dianna. Continued evolution of the web site can bring a feeling of closeness to the site it lacks currently. This may involve further investment to update software and hire a Web master or graphic designer.(E)cological forces at work for Althorp include once again the bell of fuel or energy source and its prolonged use at the site, the affect it has on the environment. Has Althorp considered what affect it may have on the global warming? It would environmentally sound for the company to research ways to conserve and protect the environment maybe through a conservation bug out in conjunction with another site.(L)egal forces or changes in the laws that govern travel are constantly in core. Also Althorp must keep in mind a lot of times people are not culturally aware of differing laws that apply when travelling. It is important that not only the mansion house watch for the risk legal issues cause but also look out for its employees giving the reverse training to customers.THE COMPETITION BALMORAL AND MUSCOTT footle FARMBALMORALCASTLE.COMPORTERS FIVE FORCESCus tomer Bargaining military unit HighTodays Internet savvy consumer is educated when it comes to their travel plans. This gives the consumer power over places like Balmoral to match their need for a web site that will understand their intelligence. They know what they want and at what price they want it. They may chose a different destination if they wear arrive att like the web site.Threat of Substitute Products and Services emergentThis is where diversification of services at Balmoral becomes important and an asset. The future of these places depends on presentation of different formats and product specialty to keep the customers attention. These niche locations like Balmorals will meet consumer demand of specific needs. supplier Bargaining PowerMediumThe bargaining power of Balmoral is relatively medium because of the nature of the product. Balmoral must remain at above industry model while maintaining the sense of class found and that level of services.Threat of brisk Entr ants Emerging youthful entries into the market, one would think should be low because of the name of this being a niche destination as historical but the truth is places like Balmoral must compete outside their niche for capture of customers. They compete with theme parks and adventure vacations of the like. Many tourists because the tuition from the Internet is so vast are looking for something beyond the fixing vacation.The Overall Level of Rivalry Moderate there is a science that the more densely populated the area becomes the higher the competition with the company struggling for market participation. This is an incorrect assumption because most of niche travel locations are operating online mainly suppliers to manufacturers or to the public. This results in less advertisement and an environment where the competitive spirit is unvoiced.MUSCOTTMILLFARM.CO.UKBoston Matrix AnalysisThere are four areas that divide the matrix so that a place like Muscott Mill Farm can be diffe rentiated from other stately English homes or working historic monuments. The place falls into one of these areas. The four areas are as follows (1) Stars, (2) Cash Cows, (3) skepticism label and (4) Dogs (Boston Matrix 2005).Stars are tourist sites like Balmoral or Althorp that have a strong presence in the market and they are able to keep up, even be ahead of the competition. Balmoral, while stoically regal also maintains a global image because of it being the fagots summer residence. Cash Cows are smaller places of raise like Muscott Mill that are not in the spotlight and may be hidden from the average tourists mind (Boston Matrix 2005). Many smaller historical sites are becoming currency cows because of operating cost increases but also the aftermath of 9/11 remains. People are not as eager to travel and the price of airfare keeps people closer to home. Muscott Mill would be better off focusing on local markets for shorter weekend holidays. Question Marks are companies tha t have potential to make money if they are run by rights (Boston Matrix 2005). A good example of a Question Mark in the industry would be smaller BB type places but not at the level of Muscott Mill. They are constantly facing challenges with their operations management and particularly labour disputes. Dogs are companies that are just terrible, have no potential and should be out of business but continue to struggle (Boston Matrix 2005). Euro Disney is the prominent example. It has never lived up to the hype. Muscott Mill Farm remains at the bottom of the chain of advantage because it is not well known by the public as a destination. Its web site is quaint at best and not at all interactive but yet one can see the adjudicate it serves to at least introduction someone to its existence.EVALUATION OF MARKETING conference AND CRMA companys marketing and recognition begins with its name. Because the business of tourism is greatly service oriented, it is of utmost importance that the c ompanys name has integrity. With time, as the organisation further establishes itself, the two will become interchangeable. The organisation has a reputation to uphold where market share remains lawless and competitive advantage strong. Recently the houses name and smart property in the forms of trademarks and brand has been at the forefront, in constant view thanks to e-business.John M.T. Balmer surmises that much of the problem with establishing a marketing model for organisations is built on the concept that the notion of identity is vague to the lodge and therefore the consumer. Defining identity and therefore CRM becomes a challenge now especially as business practices change and shift to encompass all areas of focus and strategy. Balmers (2001) research writes of, identity was a pressing issue for many institutions and that the question of identity, or of what the organisation is or stands for, cuts across and unifies many different organisational goals and concerns (p. 250 ). Hence the confusion and challenge of figuring out only what identity is for a particular organisation because it is different for each.CONCLUSIONThe purpose of this presentation was to demonstrate different market strategy models that allow one to analyse not only the particular industry but also the competition. The niche travel destination market has its strengths and weaknesses but also these are areas that Althorp can use to make its marketing scheme better. The competition for the linked Kingdom is vast but Althorp has many elements on its side as a special location for travellers. The main focus of any marketing scheme should be to know how to capture the mindset of the individual to attain a higher state of competitive advantage and this begins and ends with conveying the correct brand image.REFERENCESAllen, G 1999, Introduction to Marketing, Mountain View College, Mountain View, California.Althorp, Althorp.com, viewed 5 Aug. 2008, http//www.althorp.com.Balmer, J M T, F ukukawa, K Gray E R 2001, The disposition and Management of Ethical Corporate Identity Discussion Paper on Corporate Identity, Corporate Social Responsibility and Ethics, Bradford School of Management, England.Balmer, J M T 2001, Corporate identity, corporate branding and corporate marketing eyesight through the fog, European Journal of Marketing vol. 35, 3/4, p. 248-291.Balmoral Castle, Balmoralcastle.com, viewed 7 Aug. 2008, http//www.balmoralcastle.com..Boston Matrix or Boston Consulting concourse Box BCG Box, viewed 5 Aug. 2008, http//www.tutor2u.net/busines/strategy/bcg_box.htm..Donogh, J 2008, Customer homageFrom the Customers Perspective, viewed 3 Aug. 2008 www.refresher.com/loyalty2.html.Kotler P, 1999, Kotler on Marketing, Free Press, New York.PESTEL Analysis, viewed 5 Aug. 2008, http//www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCESitemid=1074451452Peters, T 2003, destiny Small Firms Put the e in plow, International Trade Forum,1 July.Pitturo, M 1999, Get into the e-Commerce Without Betting the Store, Journal ofAccountancy, 1 May.Porter, M E 1999, Strategy and the Internet, Harvard University Press, Cambridge.Porter, M E 1985, Competitive good Creating and Sustaining Superior Performance. The Free Press, New York.SWOT Analysis, viewed 5 Aug 2008, http//www.quickmba.com/strategy/swot/..Thompson, H 2004, What They Want Ten Myths About Your Customers, Prentice-Hall, Clifford Falls, New Jersey, p. 103-112.Whelan, D 2004, Build It and They Will Come, Forbes, 27 Dec 2004.APPENDICESAPPENDIX ASAMPLE POSSIBLE QUESTIONNAIRE1. How do you rate Althorps web site overall ease of use? (1=very easy 5=very difficult)2. Having Althorps picture of the web sites you visited (1 potently agree 5=strongly disagree 6=no opinion)a. Reflects how you think about the web.b. Gives you more office in exploring the web.c. Slows down the computer too much.d. Helps you feel more adventurous.e. Lets you know where you are in the web.f. Takes too much time to use.g . Helps you move somewhat in the web.h. Makes me feel like Im travelling end-to-end the web.i. Takes up too much space on the screen.j. Makes web organisation clearer.3. Please rate how you think Althorp would be for the following functions (very useful, useful, not useful, simulatetknow)a. Pure Entertainment (games, chat, humor)b. Personal uses (hobbies, health, recipes, travel)c. Business (buy and sell, product info, banking)d. academic (exchange data and results, communicate with colleagues, grad info).4. I feel that looking for information on the World Wide Web using Althorp.com is (Strongly Agree, Agree, Neutral,Disagree, Strongly disagree, Dont Know)Easy entertaining confusing complicated intimidating hard boring straightforward simple frustrating.