conssumers
Competitive environment
This external environment is all the forces, events and relationships exteral to the firm that may affect the future of the organization or the implementation of a mkt plan.
Six most often studied macroenviromental forces: Political, economic, social technological, legal, demographic
*competitive
economic:
a)Consumers Income: purchasing power Is a comparion of incomes an relative goods & services
b)inflation: a measure of the decrease in the value of the money
c)recession: a period of negative economic growth, which reduces demand for goods and services
steps to make a competitive analysis , to identify your direct competitors , evaluate your weaknesses, look for opportunities and threat (SWOT ANALYSIS), determine your position in the mkt, design your strategies to gain mkt share.
Traget publicity & promotions
Identify the segments
Channel mkt efforts effectively
Asses elasticity
Repeat bussines frequency: is good to know how often are they coming back to my hotel
You have to know why are you having high demand
Competitive indexes: are ratios used to determine our mkt position
Are a series of ratios which allow a hotel manager to evaluate the success or failure in winning guest preference in each of the segments of the mkt.
Mkt share : is a % that indicates the total rooms sold by a hotel, in comparison with the total rooms sold in the competing mkt
Rooms sold in the hotel/ rooms sold in the mkt set x100= Mkt share per segment: rooms sold in hotel in a mkt segment/total rooms sold in that mkt segment in the competitive set x100
fair share: it shows how our hotel compares in terms of size (rooms) with the other competing hotels in the mkt. in example it shows the relative size of a hotel within the competitive set of the mkt
Total rooms in the hotel/
competitive index: is a number that reflects the relative competitiveness of a hotel its calculated by dividing the number of room nights sold within
This external environment is all the forces, events and relationships exteral to the firm that may affect the future of the organization or the implementation of a mkt plan.
Six most often studied macroenviromental forces: Political, economic, social technological, legal, demographic
*competitive
economic:
a)Consumers Income: purchasing power Is a comparion of incomes an relative goods & services
b)inflation: a measure of the decrease in the value of the money
c)recession: a period of negative economic growth, which reduces demand for goods and services
steps to make a competitive analysis , to identify your direct competitors , evaluate your weaknesses, look for opportunities and threat (SWOT ANALYSIS), determine your position in the mkt, design your strategies to gain mkt share.
Traget publicity & promotions
Identify the segments
Channel mkt efforts effectively
Asses elasticity
Repeat bussines frequency: is good to know how often are they coming back to my hotel
You have to know why are you having high demand
Competitive indexes: are ratios used to determine our mkt position
Are a series of ratios which allow a hotel manager to evaluate the success or failure in winning guest preference in each of the segments of the mkt.
Mkt share : is a % that indicates the total rooms sold by a hotel, in comparison with the total rooms sold in the competing mkt
Rooms sold in the hotel/ rooms sold in the mkt set x100= Mkt share per segment: rooms sold in hotel in a mkt segment/total rooms sold in that mkt segment in the competitive set x100
fair share: it shows how our hotel compares in terms of size (rooms) with the other competing hotels in the mkt. in example it shows the relative size of a hotel within the competitive set of the mkt
Total rooms in the hotel/
competitive index: is a number that reflects the relative competitiveness of a hotel its calculated by dividing the number of room nights sold within