Hospitality industry marketing planning. Radisson Edwardian Hotel in Essay

Hospitality industry marketing planning. Radisson Edwardian Hotel in the UK - Essay Example SWOT analysis is a strategic planning technique which can examine the strengths, the weaknesses, the opportunities and the threats of a business. It is a basic form which serves as a centre for creating marketing plan. SWOT analysis reveals the positive conditions for a company to operate and adverse conditions which can occur for a company. SWOT analysis acquires information from micro-environmental analysis and divides it into internal aspects and external aspects. After completion of SWOT analysis, one can understand how to accomplish the objectives of company and what difficulties can come for accomplishing desired outcomes (Danca, n.d.). SWOT Analysis for Micro–Environment The micro environment includes stakeholders that a company deal with frequently. SWOT analysis can help to reveal the elements of microenvironment. Competitors: The success of any company depends on the level of competition in the market. In a certain market, one company lead over other companies. In the UK, if any company has market share of above 25% then it can be considered that the company has monopoly. In that case the company can charge premium prices. In certain markets only a limited number of companies dominate which is called oligopoly. In the UK insurance, vehicle, supermarket and banking, oligopolies prevail. The hotel industry in the UK is competitive market because there are many organisations which provide luxurious five star hotel services in the UK and thus customers have many choices. Thus, in the hotel industry there is requirement to provide excellent customer service (Oxford University Press, 2007). Customers: The customers are the major factor in sales. Hotel managers always monitor the requirements of customers and attempt to foresee how to fulfil those requirements. A SWOT analysis can help to satisfy th e requirements of customers. While analysing the strengths of a company it is considered from two points of view i.e. the company as well as its customers with whom it deals with everyday. A customer oriented SWOT helps to uncover a company’s weaknesses (Danca, n.d.). PESTLE Analysis for Macro Environment In macro environment there are several elements which can impact on decision of managers of hotel industry. For example, changes in taxes, trade barriers and changes in government rules and regulations, all these aspects come under macro environmental factors. The PESTLE analysis can help to evaluate those factors and classify them for the sake of the company. Political Factors: These factors consist of government policy and the level of interference in the economy. The political decisions affect on significant fields of business such as education, employment and infrastructure of country such as transport system. Political factor has major influence on the hotel industry in the UK. In the UK, the political condition is relatively steady. Issues such as terrorists attack specially the 11th September 2001 had affected the hotel industry in the UK. From 2000 to 2001, the expenditure of visitors for hotel decreased significantly. Furthermore, the terrorist attack on Turkey had affected the