Question: The purpose of this assignment is to develop a competitive advantage development strategy. For this assignment, you will complete Part 1 of the Capstone Marketing
The purpose of this assignment is to develop a competitive advantage development strategy. For this assignment, you will complete Part 1 of the Capstone Marketing Project. Select a specific hospitality service industry site (not an entire chain) that is currently struggling to retain its market share, or select a service industry site that is new to the industry and is trying to capitalize on a specific market. Conduct research about the service location, competitors, and target population as you develop your competitive advantage strategy. Research for this project may be based on first-hand interviews, news articles, the entity's Internet marketing, or any reputable secondary source from the GCU Library. For your competitive advantage strategy, you may focus on services the location currently offers or could offer, or you can focus on services that the location could provide for a particular event or local attraction. In 500-750 words, summarize the competitive advantage strategy for the location you have selected and researched. The summary should outline the following: Describe the focus of your competitive advantage development strategy. What service(s) are you promoting? Identify and describe the primary competitors in your area. Describe the target population. What population are you trying to persuade to choose your services over its competitors' services? Describe the advantages of your competitors. Explain how your competitive advantage strategy will differentiate your hotel to create a positive distinction in the minds of the target population. Project and analyze the return on investment of any expenditures associated with the competitive advantage strategy, including price cuts, against possible gains in clientele.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
