Hollywood Tan Company Strategy Analysis
Strategy Paper
Kimberley Riley
Strategy Paper Hollywood Tan Company is a local tanning facility located on Lebanon Avenue in Belleville, Illinois. They currently operate with nine employees and specialize in UV and UV-FREE tanning. This analysis will be focused on Hollywood Tan Company.
Strategic Objective Strategic objective is what an organization must achieve in order to make its strategy succeed. The strategic objective of Hollywood Tan Company is to sustain their competitive advantage by offering various indoor tanning options and products to enhance your tan at the best price. Further discussion of Hollywood Tan Company’s strategic objective is included in this analysis.
Market Size Market size is the number of individuals in a certain market who are potential buyers and/or sellers of a product or service. The tanning salon business is a five billion dollar industry. The Hollywood Tan Company franchise owns approximately 31% of the local market. Hollywood Tan Company on Lebanon Avenue owns approximately 33% of the market in Belleville, Illinois. Hollywood Tan Company’s market size is further discussed in this analysis. Driving Forces Driving forces are those forces that contribute to the trends in the industry. The tanning industry is …show more content…
The External Analysis examines opportunities and threats that exist in the environment. The goal of this analysis is to identify external opportunities, threats, trends, and strategic uncertainties. (Cambridge Dictionary, 2014) A PEST analysis looks at how those external factors can affect a business 's activities and performance. (Business Dictionary, 2014) The Five Forces analysis identifies and analyzes 5 competitive forces that shape every industry, and helps determine an industry 's weaknesses and strengths. It is frequently used to identify an industry 's structure in order to determine corporate strategy. (Investopedia,
Kimberley Riley
Strategy Paper Hollywood Tan Company is a local tanning facility located on Lebanon Avenue in Belleville, Illinois. They currently operate with nine employees and specialize in UV and UV-FREE tanning. This analysis will be focused on Hollywood Tan Company.
Strategic Objective Strategic objective is what an organization must achieve in order to make its strategy succeed. The strategic objective of Hollywood Tan Company is to sustain their competitive advantage by offering various indoor tanning options and products to enhance your tan at the best price. Further discussion of Hollywood Tan Company’s strategic objective is included in this analysis.
Market Size Market size is the number of individuals in a certain market who are potential buyers and/or sellers of a product or service. The tanning salon business is a five billion dollar industry. The Hollywood Tan Company franchise owns approximately 31% of the local market. Hollywood Tan Company on Lebanon Avenue owns approximately 33% of the market in Belleville, Illinois. Hollywood Tan Company’s market size is further discussed in this analysis. Driving Forces Driving forces are those forces that contribute to the trends in the industry. The tanning industry is …show more content…
The External Analysis examines opportunities and threats that exist in the environment. The goal of this analysis is to identify external opportunities, threats, trends, and strategic uncertainties. (Cambridge Dictionary, 2014) A PEST analysis looks at how those external factors can affect a business 's activities and performance. (Business Dictionary, 2014) The Five Forces analysis identifies and analyzes 5 competitive forces that shape every industry, and helps determine an industry 's weaknesses and strengths. It is frequently used to identify an industry 's structure in order to determine corporate strategy. (Investopedia,