Market Situation

Topics: Tourism, Marketing, Strategic management Pages: 6 (1639 words) Published: April 15, 2013
First of all, we need to analysis the macro environment of castle. In this section, I will use PEST and Porter's five forces to discuss. External environment comprises factors which are common to all firms in the industry (Blythe, 2009). PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. Political

UK government’s policy support it. The majority of this woodland is ancient and natural, the most biologically rich in the country supporting characteristic Marches plant and animal communities which are not found elsewhere in the UK. Economic

Herefordshire and its neighbouring county Shropshire are tourist destinations, but spend per tourist is low: over 4m visitors come to Herefordshire just for the day, but only spend, on average, £27.64 while in the county. These day visitors constitute 83% of all tourists to the county. Over recent years visitor trends across the West Midlands have shown growth in demand for rural heritage and cultural attractions. ’Visit England’ reports that there was an overall increase of 3% in visits to attractions in the region last year with particular growth reported in the following categories: •Farms + 8%

Gardens + 2%
Art Galleries / Museums + 7%
Places of Worship + 5%
Heritage Centres + 6%
Research shows that visitors and holiday makers want :
* to learn a new skill, craft, sport or subject;
* their holiday to reflect a lifestyle in their leisure experiences, especially in terms of wellness and well-being and involving activities for the mind, body and soul; * to participate in specific interests in outdoor activities; notably walking, horseback riding and cycling; * the location to reflect the importance of quality in design, history, architecture, public spaces, landscape and arts / crafts; * availability of local regional foods and drink. This is a decision-making factor when planning to visit an area. Technolegy of Animal waste into natural gas:

American Food Groups turning to waste to energy - A contingent of American Foods Group is undertaking a multi-million dollar project that will make use of food processing waste in several different ways. From start to finish, they will be able to feed their new machine with about 100 tons of waste that will take about three weeks to run though the process to create a variety of products. (Alt Energy News; Feb. 25, 2010) E3 Biofuels - Integrates three proven components into a single, closed loop system: an anaerobic digester that transforms animal wastes into biogas, an ethanol plant that operates on biogas from the digester and an on-site dairy/feedlot that uses the by-product of ethanol production (wet distiller grains) as the primary feed for the cattle.

If the HTB want to develop the castle into Tourism market. According to the case. In michael Porter's Five Forces Model.
The Bargaining power of suppliers is strong.
Because of the Convenient Railway and Nearby to Wigmore. In addition the Rich Forest Resource and the Long History. They can also get UK government’s policy support. the Bargaining power of customers should be divided to two part for discussing. For local or nearby visitors, go to other places for tourism will cost more, It means they don't have too much selective when the budget is limited. So The bargaining power is weak. But Distant visitors have selective. Because there are so many castles in west midland. So This part of customers have strong bargaining power. the Threat of substitute is high.

Because of the low budget per day and the single night trip that this falls into, all of the "Nearby to Wigmore" section could be considered substitute products. Additionally, any other single day trips could be a substitute. Because of money and time budget substitutes are high. Threat of new competition is...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • China High Voltage Cables Markets | Researchmoz Essay
  • Basic Tasks That an Organization Must Perform in a Market or Industry to Compete Successfully. Essay
  • Porter's Five Forces Model for Water Filtration Industry with Emphasis on Emerging Markets Essay
  • market Essay
  • The Globalization of Markets Essay
  • Emerging Markets Essay
  • Market Selection Essay
  • dells market Essay

Become a StudyMode Member

Sign Up - It's Free