r plans” (What 1).
“Positioning the firm within a given industry so as to earn a rate of return above the industry average” (Marsden 6).
“An individual, company, or country has a comparative advantage in generating a particular product or service if they are able to produce the product or service for the lowest opportunity cost in comparison to other producers. To determine if an individual, a company, or a country is a more efficiency producer of a specific good or service in comparisons to some other good or goods or service or services” (Williams 1).
The strengths, opportunities, weaknesses and threats of competitor hotels in the area will be measured via mystery shoppers in possession of competitor analysis worksheets. The hypotheses being considered are the following:
Will information obtained from competitor analysis of hotels in the area via mystery shoppers reveal the reason for higher average occupancy rate levels in competitors?
Will information obtained from competitor analysis of hotels in the area via mystery shoppers reveal the reason for low domestic market performance during peak periods in the area?
There are two traditional forms of competitor analysis. The first is the S.W.O.T. analysis, wherein the internal and external strengths, weaknesses, opportunities and threats are assessed. Strengths and weaknesses and opportunities and threats only take on significance in light of other competitors within an industry. Once the S.W.O.T. analysis is performed, executives are in a better position to formulate strategy that will give them competitive advantage. The second traditional form of competitor analysis is Porter’s Five Forces model. In Porter’s model, profitability potential is arrived at from considering the interaction among the five competitive forces; suppliers, buyers, competitive rivalry, product substitutes, and potential entrants. According to Porter, “The collectiv...