HMD 454 Understanding your Competition and Choosing Your Competitive Set
Business Finance
Understanding your Competition and Choosing Your Competitive Set
- Create a market segmentation map using “Courtyard by Marriott Las Vegas South (5845 Dean Martin dr, las vegas, 89118) and Residence Inn by Marriott Las Vegas South (5875 Dean Martin dr, las vegas, 89118)”. Map them on a graph. In 1-2 pages, describe the characteristics you used and explain the clusters you created.
- Now, choose those two hotel that are your competitive set and explain why you would compare yourselves to them on the “STAR report”.
- Finally, identify the hotel which you think is the marketplace leader in your competitive set and explain identify a weakness from their online guest reviews on TripAdvisor that you can try to combat in your hotel. To determine this, use the following criteria:
– Go to TripAdvisor. Compare the star ratings and the number of reviews.
– Go to Expedia and compare the room rates.
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