explain steps you would take to investigate your competition by addressing the following questions:

1. How would you determine how your competition is doing in a particular market segment (in general) as compared to yourself?

2. What associations would you network with in order to understand how your business would build competitive advantage?

3. What steps would you take to build and maintain a competitive advantage?

4. How might competitive advantage in one market segment work to position you to gain competitive advantage in other segments of the industry.

Part II

Based on your findings above, select a brand in the hospitality industry such as a restaurant, hotel, cruise line, or casino that is losing market share to its competitors. In 500 words, propose ideas and differentiation tactics in order to increase its popularity in the brand's market segment. Support your suggestions by researching the brand's main competitors and the strategies it is using.

Answer rating: 100% (QA)

Part I 1 To determine how your competition is doing in a particular market segment as compared to yourself the following steps can be taken a Conduct market research Gather information about your comp... View the full answer