FOUNDATION OF HOSPITALITY MARKETING LESSON 9 – INTERNAL ANALYSIS AND SWOT DR LUCA TRIACCA AGENDA 1. Sous-titre (Arial, Bold, 16pt, Blanc) 1. –Discussion on Uber Eats exercise Contenu (Arial, 16pt, Blanc) – Contenu (Arial, 16pt, Blanc) 2. SWOT Analysis (Book: pages 79-80 17th edition) 2. Sous-titre (Arial, Bold, 18pt, Blanc) External Analysis – 1. Contenu (Arial, 16pt, Blanc) 2. Internal Analysis 3. Sous-titre (Arial, Bold, 18pt, Blanc) 4. Sous-titre (Arial, Bold, 18pt, Blanc) 3. SMART Goals © Ecole hôtelière de Lausanne – Luca Triacca - 2020 SWOT © Ecole hôtelière de Lausanne – Luca Triacca - 2020 SWOT The SWOT Analysis is like a «picture»: you capture the moment. It synthetizes the strategic scenario in a given moment: it is a strategic diagnosis. Internal STRENGTHS A WEAKNESSES A External OPPORTUNITIES THREATS ONLY elements that are RELEVANT and call for FURTHER DECISIONS should be mentioned in the SWOT. EACH LINE indicates your point of view on a key item in the business’ marketing success. © Ecole hôtelière de Lausanne – Luca Triacca - 2020 Positive Negative SWOT INTERNAL STRENGHTS: Internal capabilities that may help a company reach its objectives WEAKNESSES: Internal limitations that may interfere with a company’s ability to achieve objectives Internal STRENGTHS A WEAKNESSES A External OPPORTUNITIES THREATS EXTERNAL OPPORTUNITIES: External factors that the company may be able to exploit to its advantage. THREATS: current & emerging external factors that may challenge the company’s performance. © Ecole hôtelière de Lausanne – Luca Triacca - 2020 Positive Negative SWOT STRENGTHS A Internal WEAKNESSES Ressources/Capabilities Operations/Processes Locations/Facilities Quality Human Resources Marketing/Brand Performance/Innovation OPPORTUNITIES External A Positive © Ecole hôtelière de Lausanne – Luca Triacca - 2020 A THREATS Demand/Macro/Micro Social Trends Economy Ecology/Ethics Technology Political/Legal A Negative SWOT: COMMUNICATION EFFECTIVESS • • • We need to be very precise and clear in communicating the pertinent elements; “Climate change” doesn’t mean a lot in a SWOT. Every single point needs to be effectively communicated taking into account our business. “The ocean and sea levels are rising due to global warming “ Be precise and concise. © Ecole hôtelière de Lausanne – Luca Triacca - 2020 VS. This is pertinent and crucial for hotels located at the sea-level. Not for hotels in the Swiss Alps. 8 SWOT: EXTERNAL ANALYSIS How to identify the external factors? © Ecole hôtelière de Lausanne – Luca Triacca - 2020 Types of analysis: • Macro & Micro Analysis • Competition analysis + Porter’s 5 Forces • Consumers’ behaviors SWOT: EXTERNAL ANALYSIS Political Economic © Ecole hôtelière de Lausanne – Luca Triacca - 2020 Social Technological Environmental Legal https://www.professionalacademy.com/blogs-and-advice/marketing-theories---pestel-analysis https://andet5.com/2018/02/pestel-analysis-what-is-it-and-why-do-we-use-it/ SWOT: INTERNAL ANALYSIS The goal is to • Value Proposition (UVP) for the understand the resources and Be different from competitors: Unique customers. • Be Profitable capabilities allowing the company to excel © Ecole hôtelière de Lausanne – Luca Triacca - 2020 We need to identify and assess the ressources & capabilities of the organization. SWOT: INTERNAL ANALYSIS Resources & RESOURCES CAPABILITIES • • capabilities are TANGIBLE o the assets owned Physical: location, building, o Strategic leadership facilities, design, equipment, o Company culture o Ownership & Management o Employees’ soft skills o Employees turnover o Knowledge-sharing global presence. o to create the UVP Financial: cash-flow, lowlevel of debt., economies of scale, loyalty programs. (Unique Value • Proposition) INTANGIBLE o Brand Reputation, patents, contracts, partners… © Ecole hôtelière de Lausanne – Luca Triacca - 2020 Human-based capabilities EVALUATING STRENGHTS & WEAKNESSES Comparaison against Past performance trends competitors Are organization’s resources and capabilities strengths or weaknesses? Personal opinions of Specific Goals or Targets Strategic Decision makers or Consultants © Ecole hôtelière de Lausanne – Luca Triacca - 2020 SWOT STRENGTHS A Internal WEAKNESSES You can create and control them! OPPORTUNITIES External A Positive © Ecole hôtelière de Lausanne – Luca Triacca - 2020 You cannot control them, but you can use them to your advantage A THREATS A Negative SWOT STRENGTHS Internal WEAKNESSES ACT A CAPITALIZE A What needs to keep or change? OPPORTUNITIES THREATS A INVEST A IDENTIFY External Where we should go & not to go? What are the elements that could impact our organization? Positive © Ecole hôtelière de Lausanne – Luca Triacca - 2020 Negative SWOT: THE CEO INSOMNIA Company priorities? © Ecole hôtelière de Lausanne – Luca Triacca - 2020 • Important/Urgent opportunities. • Challenges or problems. • Capabilities to exploit and/or to build • Investments. • Innovation. • … 16 SWOT: GROUP EXERCISE – 20-25 MIN. A SWOT of your group work. You can use: https://xtensio.com/, select free and the SWOT template. Or the PPT Template on LMS. Please, send me your SWOT via email (luca.triacca@ehl.ch) © Ecole hôtelière de Lausanne – Luca Triacca - 2020 17 MARKETING OBJECTIVES © Ecole hôtelière de Lausanne – Luca Triacca - 2020 SMART • Purpose/Vision: long-term positioning. Where we want to be in 10-20 years (market leader, international growth…). • Goal: o The future starts now: we need to understand how to improve the current performances in the short-mid term. o How: simple sentences describing what we want to achieve with our marketing activities. o It is very useful to share the direction and the objectives in a given period. © Ecole hôtelière de Lausanne – Luca Triacca - 2020 19 SMART https://www.redfern.co.uk/blog/resources/exam ples-of-smart-goals-formarketing-free-template.html Relevant © Ecole hôtelière de Lausanne – Luca Triacca - 2020 https://www.smartsheet.com/blog/essential-guide-writing-smart-goals 20 SMART: EXAMPLE Not a SMART Goal: We need to improve recruitment. SMART Goal: By December 15, 2015, the chapter will have recruited 20 new members who meet or exceed our minimum membership standards. © Ecole hôtelière de Lausanne – Luca Triacca - 2020 https://www.examples.com/education/smart-goals.html 21 SMART: EXERCISE Our small family resort hotel lacks the ability to create loyalty (only 3.5% of our Clients are loyal) SMART Goal(s)? Write on menti.com one smart goal © Ecole hôtelière de Lausanne – Luca Triacca - 2020 22 SMART “Rome wasn't built in a day!” © Ecole hôtelière de Lausanne – Luca Triacca - 2020 23 BLOG TIME © Ecole hôtelière de Lausanne – Luca Triacca - 2020 WEEKLY BLOG • Provide a SWOT analysis of your company. Use the information that you collected in your previous blog posts. • Interpret the SWOT and summarize the key points. • Define one or two SMART Goals related to the SWOT and its key points. • Deadline: Wednesday as usual (8am + peer-to-peer review seventh blog post) © Ecole hôtelière de Lausanne – Luca Triacca - 2020 NEXT WEEK © Ecole hôtelière de Lausanne – Luca Triacca - 2020 NEXT WEEK • Marketing Segmentation & Targeting • Don’t forget to complete your blog © Ecole hôtelière de Lausanne – Luca Triacca - 2020 THANK YOU! © Ecole hôtelière de Lausanne – Luca Triacca - 2020
