Competitor Analysis

The secret of business is to know something that nobody else knows.

One of the greatest pieces of economic wisdom is to know what you do not know.

This research design is meant to provide a competitor analysis of hotels in competition with Hotel Charisma. The objective of the research design is to is to determine what allows competitor hotels to retain an occupancy rate level that is 10-20% higher on average than the occupancy rate level average at Hotel Charisma. The research design is also intended to reveal why Hotel Charisma has not been able to boost its domestic market performance during peak periods in the area. Competitor analysis will be conducted via a research design using the concept of "Mystery Shopping." The report is comprised of definitions, variables and hypotheses, related research and theory, and the research design. A conclusion will address likely costs, effectiveness and limitations of the proposed research.

"Your competitors are those firms which you consider rivals in business, and with whom you compete for market share" (What 1).

"Competitors are companies that make products or perform services similar to yours, make products or perform services that can be substituted for yours, and make products or perform services that are analogous to yours" (Competitor 1).

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on gathering and analysis which is used to predict which strategies will provide the organization with maximum competitive advantage. In many organizations this process is known as strategic intelligence and involves the aspects discussed regarding the S.W.O.T. analysis and Porter's Five Forces model of competitive advantage, "Strategic intelligence is concerned mainly with competitor analysis or gaining n understanding of a competitor's future goals, current strategy, assumptions held about itself and the industry, and capabilities�diagnostic components. Intelligence about the firm's major customers, suppliers and partners (in marketing or research and development alliances) is often also of strategic value" (What 2). There are basic questions to be asked before embarking on a competitor analysis such as, "What do we need to know?", "Why do we need to know it?", "When do we need to know it?", "What will we do with it once we have it?", "What will it cost to get it", and "What will it cost not to get it?" The intelligence portion of the competitive intelligence concept comes after the information on competitors is gathered. The process involves not only the methods of collection, but also the integration of that information

Category: Science - C