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Essay sample - Marketing planning: Hospitality
Pages 8 (2008 words)
Hospitality industry is one of the biggest industries in the UK which contributes almost 2.4 million jobs. The share of hospitality in the UK economy was almost 46 billion in the year 2010. The report describes the SWOT analysis and PESTLE analysis and its impact on hospitality industry…
SWOT analysis is a strategic planning technique which can examine the strengths, the weaknesses, the opportunities and the threats of a business. It is a basic form which serves as a centre for creating marketing plan. SWOT analysis reveals the positive conditions for a company to operate and adverse conditions which can occur for a company. SWOT analysis acquires information from micro-environmental analysis and divides it into internal aspects and external aspects. After completion of SWOT analysis, one can understand how to accomplish the objectives of company and what difficulties can come for accomplishing desired outcomes (Danca, n.d.). SWOT Analysis for Micro–Environment The micro environment includes stakeholders that a company deal with frequently. SWOT analysis can help to reveal the elements of microenvironment. Competitors: The success of any company depends on the level of competition in the market. In a certain market, one company lead over other companies. ...
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