To assess your ability to:
- Conduct a retail analysis
In order to help you prepare your own retail marketing mix, you will conduct a retail analysis of two of your competitors.
- Visit 2 potential competitors and describe the six elements of the retail marketing mix of each. Use the descriptions of these elements on pages 214-216 as a guide. Some questions you might want to consider with regard to each element are:
- Merchandise: What is the assortment of merchandise or services that are provided? Is there a gift shop? If so, what sort of quality are the products being sold?
- Service: What is the level of service provided by the staff? Are there bell hops?
- Atmosphere: What sort of atmosphere is there in the lobby? What kind of furnishings are there? Are there high quality leather armchairs? Are there plants? If so are they alive or artificial? What sort of music is playing? How is the staff dressed?
- Location: Where is the hotel located? Is it in an affluent part of town or is it in a poorer part of town? What businesses are located in the same area?
- Promotion: What sort of advertising is there? What sort of image is the hotel portraying on its website? Are there advertisements for it on television, in newspapers, or in magazines? What do such advertisements tell you?
- Price: What prices are the rooms? What is the range of prices?
- In a concluding paragraph, describe your vision for your small hotel or bed & breakfast with regard to these six elements.