The first step of the strategic development process is to determine the “Where to Play” choice which will then help you identify the segment of the market you are targeting and the competitors you will face.
- Review the Strategy Project Company Selection Guidelines and specify the company (and specific division or product if your company is large and diverse) you will use for Assignments 1, 2, and 3.
- How would you define the Playing Field for this business (the specific segment of the market where you will choose to compete)?
- Using the guidance from The Five Forces article, what conclusions would you draw regarding the profitability of this Playing Field? Would it be a higher or lower profitability than average, and why?
I’ve began writing some but need help with the Five Forces. Please see below.
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.”As this is a large corporation with an extensive portfolio of brands, I’d like to narrow that focus on Embassy Suites. Embassy Suites is apart of the company’s portfolio that caters to both business travelers and families and offers both an evening manager’s reception and free made to order breakfast. The specific product is the two room suites that the hotels offer that makes them distinctive under the Hilton brand. They currently have 234 hotels with 49 more that are upcoming (Hilton, 2019).The playing field for this business is plentiful as there is minimal competition due to costs that offers similar products but touristy areas are everywhere.”
Five Forces that need to be answered:
Bargaining power of suppliers,
Bargaining power of buyers,
Threat of new entrants,
Rivalry among existing competitors,
Threat of substitute products or services,