ipl-logo

Swot Analysis Of Bed And Breakfast

1565 Words7 Pages

Entry and growth strategy
Vision statement
The vision of General’s Bed and Breakfast is to be recognised as the most unique accommodation facility/Bed and Breakfast, which offers distinctive services in the region of Ohrid.
Mission statement
The mission of General’s Bed and Breakfast is to exceed the expectation of guests as well as add value to the lives of all concerned stakeholders. Furthermore, in close cooperation with the local authorities, its mission is also directed at raising awareness of the current problems that the city of Ohrid is facing, by participating in programs for developing and promoting sustainable tourism in order to retain the natural beauty and cultural heritage of the city of Ohrid
Values and principles
In order …show more content…

In a highly competitive environment it is essential for marketers/businesses to choose the right target market, by identifying market segments. Businesses/marketers have to thoroughly understand how consumers think, feel and act and accordingly offer value to every targeted consumer (Kotler & Keller, Marketing Management, 2012). According to Kotler and Armstrong, market segmentation is “dividing a market into smaller segments with distinct needs, characteristics, or behaviour that might require separate marketing strategies or mixes” (Kotler & Armstrong, Principles of Marketing, 2012, p. …show more content…

In accordance with the above-discussed major segmentation the business is envisaged to target both local as well as international customers. Specifically, the foreseen target groups encompass the following customers given their travelling dynamics: customers that would travel for at least one or more overnight-stay weekends throughout the year. The expectation herein is that these customers would be primarily local guests; customers that would make at least one or more holiday trips throughout the year with at least 4 nights per holiday.
These eligible target-groups of customers should be able to spend 30.00€ euro per person per night (including breakfast). Furthermore, it is assumed that a certain part of the customers would be, optionally, willing to spend 15.00€ to 25.00€ for additional activities/experiences and additional meals.
Given the preferences, the foreseen target groups will focus on: customers who prefer Bed and Breakfast with friendly and hospitable hosts that can provide contact/s and synergy with the authentic local population; customers that prefer smaller, more modest and intimate accommodation rather than lavish large

Show More
Related

  • Business Planning Activities Case Study

    1112 Words  | 5 Pages

    Business Planning Activity – Notes Only Document (Please answer each question thoroughly and retain a copy of this information for your records) 1. Describe your vision for building your practice at Edward Jones. How do you plan to add value to the clients and communities you will serve? My vision for building my practice at Edward Jones is to provide the best financial service and knowledge to those in my community.

    Read More

  • United Airlines Market Segmentation

    1027 Words  | 5 Pages

    Answer: (a): Market segmentation is the first step in defining and selecting a target market to pursue and penetrate. Basically, market segmentation is the process of splitting up an overall market into two or more groups/classes of consumers. Each group of consumers is called as a market segment. Each group (or market segment) should be similar in terms of certain characteristics or product/ service needs. In business world, market segmentation is considered to be a most important tool in enabling marketers to better meet customer needs and requirements.

    Read More

  • Case Study Of Taco Bell's Customer Satisfaction Survey

    729 Words  | 3 Pages

    TellTheBell Tellthebell.com is a survey website where customers can take part in the Customer Survey Sweepstakes. Here customers of Taco Bell give their valuable feedback; it is basically a Taco Bell’s customer satisfaction survey. In this survey they offer the opportunity to enter the sweepstakes and a chance to win $500 each month. Taco Bell gives such a great service for customers to share their feedback; through survey they determine how to make improvements in their services. What is Taco Bell?

    Read More

  • Swot Analysis Of Eataly

    860 Words  | 4 Pages

    The study will apply various theoretical models in order to highlight the overall performance of Eataly, evaluating the factors that play an important role for the success of Eataly. Eataly is an Italian market being the largest all around the world; it offers variety of food and beverages, restaurants, retail items, bakery as well as cooling school. The study will provide an overview of Eataly, and the challenges they faced while operating within the market place. Retail industry presents relation between producers and consumers, thus, it allows the industrial firm reaching the market successfully and develop two way information transfer and services. according to Sebastiani & Montagnini (2014), among distributors, the grocery stores covers

    Read More

  • Honda Market Segmentation

    797 Words  | 4 Pages

    Common definition market, which means economic that’s approach customers in terms of people to find a goods or services they want, while segmentation is processes dividing specific part into many parts of some things. Market segmentation is mean an organization target its product, services, or ideas only to specific groups of consumers rather than to everybody, even if it means that other consumers who don’t belong to this target market aren’t attracted to it, for example is ASIMO might be suitable for housewife to do household works. Honda company has been targeted three major part of market segmentation that is include demographic, behavioral, and psychographic segmentation. Demographic segmentation is based on age, income, family size and socio- economic status, etc.

    Read More

  • Holiday Inn: Porter's Five Forces Of Industry

    1384 Words  | 6 Pages

    The Five Competitive Forces of Industry will influence prices, costs and investment (Porter, 1980). The potential retaining of customers, profitability of a holiday inn can be determined by being aware of the strengths and weaknesses of the hotel industry. (Figure 2.2: Porter’s Five Forces Model (Source: Adapted after Porter,2008) Porter’s 5 model helps in success of Holiday inn between suppliers and buyers. Giving customers the service they are looking for, acquire customers, retain customers and looking externally how the competitors are doing is very important. To ignore the power of customer relationship is not an option.

    Read More

  • Price Discrimination In Hotel Industry

    777 Words  | 4 Pages

    In the case of hotels, suppliers create different consumer segments, we can relate to them as lower-end consumers, and higher-end consumers. Obviously, hotels cannot set the price that higher-end consumers are willing to pay, because all lower-end consumers will not be able to afford the good. Inversely, if hotels set the price that lower-end consumers are willing to pay, higher-end consumers gain huge consumer surplus, thus lowering the profit for the suppliers. In order to take the consumer surplus, hotels keep lower prices for some rooms in order to target lower-end consumers and offer some higher quality rooms (for example presidential suits) to target higher-end consumers. The difference in revenues providing different rooms and the same ones is seen below.

    Read More

  • Value Proposition Of Fitbit

    1808 Words  | 8 Pages

    Purpose and process of market segmentation The purpose of segmentation is to allow the marketer to be better able to reach the consumer needs and wants which increases the positive responses for the brand. Segmentation is important during the promotion process, this is where the team decided who what and where as well as, age gender and things like buying patterns. Because of this, marketing g segmentation comes before targeting. By dividing the audience, it makes it easier to target exactly who and where to send the devices or what to do with their next model.

    Read More

  • Marks And Spencer Market Segmentation Strategies

    1384 Words  | 6 Pages

    BE201 TMA Draft Karim Mahmoud Ghweil Question 1: A. Market segmentation is the process strategy of dividing a product or service for the general or specific groups based on their preferences, style, perceptions, needs, and interests. As Marks & Spencer already segmented its customers in some ways. It used demographic segmentation in which it targeted people with the age of 30 and above and also with relatively good or high income. But why M&S used market segmentation in the first place and how is it beneficial?

    Read More

  • Marketing Segmentation Of Mercedes Benz

    916 Words  | 4 Pages

    Market are segmented in order to make it easier for businesses to target these segments according to the features and habits they exhibit. These segments must be definable, specific, profitable, and is has room to grow. The following outlines the segmentation for the market of Mercedes Benz broken down into demographic, behavioral and psychographic segmentation. Demographic Segmentation: Markets can be segmented by geography where the business would market its offering towards individuals living in a certain area.

    Read More

  • BMW: Demographic And Market Segmentation Of BMW

    1612 Words  | 7 Pages

    Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is "Fraud am Fahren.” In addition to cars and motorcycle, BMW also operates an aircraft engine under the brand name which is known as Rolls Royce.

    Read More

  • Market Segmentation Of Carrefour

    1304 Words  | 6 Pages

    Carrefour had to segment their customers because they had different needs, behaviors, and preferences; therefore, it was difficult for the company to meet every consumer’s personal characteristics (Wedel and Kamakura 2012, p. 6). Carrefour also had to segment their customers because they needed to come up with a marketing mix that will help the firm meet the needs its customers in their target market. Market segmentation refers to the division of a market into segments that are identifiable and similar. These segments refer to a group of people or organizations that have one or more features in common, which prompts to have same product tastes and needs. According to Wedel and Kamakura (2012, p. 6-7), market segmentation is important because it helps the organization to use their resources efficiently and make better strategic decisions.

    Read More

  • Mcdonald's Market Segmentation

    1402 Words  | 6 Pages

    According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.

    Read More

  • Market Segmentation Of Unilever

    761 Words  | 4 Pages

    The process of market segmentation involves the division of a market into groups of smaller size whose needs, behaviour and characteristics are distinct from each other. These smaller groups or 'segments ' may require separate marketing strategies. There are four major market segmentation variables namely behavioural, psychographic, geographic and

    Read More

  • Dutch Lady Market Segmentation

    1004 Words  | 5 Pages

    1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.

    Read More

More about Swot Analysis Of Bed And Breakfast

Open Document