Competitive Advantage in Hong Kong Hotel Industries - Assignment Example

CRM can be defined as a marketing method that allows a company or an organization to use its available resources to establish a lasting relationship with customers, thus gaining a competitive advantage compared to its competitors (Mohammed & Rashid 2012, p.... Due to competition among the service providers in the tourism and hospitality industries, companies seem to focus on establishing a good relationship with the existing customers to ensure repeat business....

Tourism industry ranks first among the service industries and thus a good sector to invest in.... Industrial growth is also recommendable in India as there are lots of established industries and many more growing.... The vast tourism industries thus create an opportunity for the company to establish its business.... The vast tourism industries thus create an opportunity for the company to establish its business.... nbsp;The business plans aims at attracting the hotel operators as well as have direct sales to potential customers....

The paper "Threats and Opportunities of hotel Market in Vietnam" highlights that increased population rates in Vietnam and improved economic relations with other nations, foreign direct investment and technological changes create opportunities for a hotel operator.... Flexibility and risk mitigation techniques will help a hotel operator to obtain a stable market position in Vietnam.... nbsp; Opportunities and Threats for the hotel Industry In Vietnam Opportunities and threats will be analyzed in terms of demographic characteristics, technology, market segmentation, vacation resorts, national economy, travel patterns and types of investments....

This competitive advantage ensures that the hotel attracts and retains customers and by the time their competitors adopt their new technology, they have already made enough sales.... This paper discusses how Jebel Ali International hotel created value by connecting strategic objectives in explicit cause and effect relationship among them in the four balanced scorecard (BSC) objectives.... hellip; The hotel which is based in Dubai is housed in a five storey building and is surrounded by 128 acres of land with beautiful natural features....

Local cultures often differ from foreign cultures and hospitality industries need service-minded individuals who can manage talent and also meet… This is why many hospitality industries develop franchise opportunities so that corporate headquarters does not have to be concerned with local customs and cultures while still maintaining a manageable operating budget. A franchise Hotels' operating budgets need to select the right markets for growth, the best partners with experience and the ability to handle different clients effectively while also developing partnerships with the franchisee and the local cultures....

nbsp; Although many of these industries share a level of similarity, with respect to what makes them competitive, there are unique nuances that impact the consumer in different ways.... Furthermore, the discussion between these five industries will analyze class, category, forms, and brands that exist within each; helping the reader to gain a further level of interpretive understanding that relates to the way in which these entities compete and exist within the current environment....

Communication has become a very easy and simple thing to do, compared to many decades ago when the telephone… Many businesses have managed to change their means of management and product development by use of these technologies for research and among other important functions. It is important to realize that in the present global market economy, in the service industry have a duty to identify the major resources that can help them generate competitive advantages in the course of their operations....

It has also made it be one of the successful hotel brands.... The global market competition has to lead the company to offer efficient services which include the availability of rooms for seminars, entertainment services, conferences, wedding celebrations, and competitive prices.... Radisson Hotels applied the competitive strategy by first identifying potential competitors.... They did this in a smart way to explore the competitive environment....