Swot Analysis
Task 3 – Be able to plan the development of hospitality businesses
LO3
• You are to prepare a rationale for the development of a new hospitality outlet which is based at Centre Parcs, Netherlands. You need to decide which type of outlet will best suit the target markets which are attracted to this resort. The rationale will need to outline: the concept, market research, target market, location, scale, funding, and products and services (for examples the menu, licensing) (3.1)
Developing the Concept
The first stage in the development of a new concept is to carry out an analysis of the market in w hich the product or service will be offered. This will provide details of the needs of the market so that the product or service can be targeted at the correct market and in the correct way.
Figure 3.2.1 shows the overall marketing planning process.
To understand the market, we use a SWOT analysis. The extensive marketing audit - comprising both internal and external analysis - will enable the particular company to put together a SWOT analysis for the business. The SWOT serves to relate the internal strengths and weaknesses of the business in relation to the external opportunities and threats evident in their marketplace. In essence, the company needs to maximise the application of their capabilities in order to create a differential advantage over their competitors in delivering their goods and services to customers.
The SWOT should steer the company towards suitable, achievable objectives for the business. In this way the company should not be trying to compete in areas where it is weak, and should enable them to set clear objectives that the business and the people within it will be able to achieve. Prior to looking at the objectives that organisations can set for themselves in different types of markets, we will examine in more detail the specifics of SWOT analysis. The SWOT analysis enables a company to combine the key factors that emerged from the
LO3
• You are to prepare a rationale for the development of a new hospitality outlet which is based at Centre Parcs, Netherlands. You need to decide which type of outlet will best suit the target markets which are attracted to this resort. The rationale will need to outline: the concept, market research, target market, location, scale, funding, and products and services (for examples the menu, licensing) (3.1)
Developing the Concept
The first stage in the development of a new concept is to carry out an analysis of the market in w hich the product or service will be offered. This will provide details of the needs of the market so that the product or service can be targeted at the correct market and in the correct way.
Figure 3.2.1 shows the overall marketing planning process.
To understand the market, we use a SWOT analysis. The extensive marketing audit - comprising both internal and external analysis - will enable the particular company to put together a SWOT analysis for the business. The SWOT serves to relate the internal strengths and weaknesses of the business in relation to the external opportunities and threats evident in their marketplace. In essence, the company needs to maximise the application of their capabilities in order to create a differential advantage over their competitors in delivering their goods and services to customers.
The SWOT should steer the company towards suitable, achievable objectives for the business. In this way the company should not be trying to compete in areas where it is weak, and should enable them to set clear objectives that the business and the people within it will be able to achieve. Prior to looking at the objectives that organisations can set for themselves in different types of markets, we will examine in more detail the specifics of SWOT analysis. The SWOT analysis enables a company to combine the key factors that emerged from the