Essay On Competitor Analysis
It helps in determining the strengths and weaknesses of competitors within the market. As ABT is related to adventure tourism it has to concentrate on the competitors in similar businesses around Manali.
According to the information gathered by the research done in regard to existing businesses , there are tour groups ,site seeing guides etc… in Manali and around Jogini waterfalls. They offer various types of backpacking activities for their tourists.
Below is a table that shows a brief description of a competitor who provides a similar service.
As per the research on the competing business, ABT will be concentrating on the weaknesses of the competitors and try to achieve a better market by overcoming such weaknesses.
SWOT ANALYSIS
SWOT analysis is done to identify the strengths, weaknesses, opportunities and threats of a business. It assesses what a business can and cannot do as well as its potential opportunities and threats. By help of this analysis any business can estimate where it stands with the competition in the current and future market. Strengths and weaknesses are internal factors and threats and weaknesses are external factors.
The below table shows SWOT analysis in relation to
…show more content…
Demographic segmentation.
II. Psychographic segmentation.
Demographic segmentation like culture, age, income level, occupation, etc… can be considered for ABT. They have to concentrate on a certain age group as trekking includes a risk factor and it is not safe for children under 13 years and adults who are not fit enough as it might include trekking in slide areas and other risky activities like that which could be dangerous for untrained and old people. People’s income levels can influence their thinking as high income people can effort whatever packages and activities that they want to do.
Psychographics segmentation takes the consumers lifestyles, behavior, tastes and dislikes attitudes etc … into consideration. Those tourists who live an adventurous life style, likes places like hills and mountains would have a demand for such activities ABT is offering.
According to the survey, it concludes that a majority of those people who enjoys adventure has a demand to do adventure activities in Manali . That majority of people and locals of the town can be considered as a target market for
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