External Market Environmental Questions with Answers
Individual Assignment Intended learning outcome: This assignment is designed to identify and analyze the target segment, and then construct some brand-building activities.
As a marketing consultant, you are required to analyze the external market environment of the hospitality industry. In order to strengthen your analytical report, your discussion and/or arguments should be supported by credible marketing information and/or research data. Please select any famous hotel (e.g. Shangri-La Hotel, Conrad Hotel, Ritz-Carlton Hotel, etc.) and understand its mission and existing services before starting your analysis.
Apply the following theories for your analysis:
- Macro-environmental Analysis, i.e. PESTEL Model (Political, Economic, Socio-cultural, Technological, Environmental, Legal) -What are the latest changes of each element of the PESTEL Model? -How do these changes affect the operational effectiveness and/or marketing strategy of selected organizations? -Share your comments and/or advice
- Grow and expand the business by applying Ansoff's Model -Based on the concept of Ansoff's Model, you are required to propose possible tactics of increasing the business of selected hotels (or hotel group). -Proposed tactics should be practical and reasonable.
Explain the rationales of your tactics Assessment Criteria:
- Explain the mission and product portfolio of a selected company.
- Analyze the influences of major macro-environment factors that are affecting the selected company based on the framework of the PESTEL Model. Supporting information and concrete references are essential.
- Propose possible tactics of increasing the business of the selected company based on the stated concept.
- Explain the rationales of proposed tactics logically and clearly. Requirements: Prepare a written and structured report that satisfies the assessment criteria. Work that demonstrates an in-depth analysis of the question and that provides a coherent answer will be awarded a higher grade compared to that which simply regurgitates answers from the texts.
The report should be typed in Times New Roman 13 pt font with a one-inch margin on all sides of the report at least. Use standard A4 white paper.
While discussion among students is encouraged, collusion and plagiarism of work would not be accepted. The assignment should be organized as follows:
- Cover Page which contains the title of assignment - Course code and title - Student name and number - Name of lecturer - Date of submission
- Table of Contents
- The main body of the assignment (This should observe the given word count limit)
- References Maximum number or words: 1,200 words for a written report
Referencing Styles: Harvard
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