Question
Read the following business case meticulously and give your opinion with sufficient reasoning according to the concepts of strategic marketing management. Write the answer on
Read the following business case meticulously and give your opinion with sufficient reasoning according to the concepts of strategic marketing management. Write the answer on the blank paper at the end.
Jinka resort was opened at the end of last year in Arbaminch town to provide various services. The resort caters food, snacks, drinks, entertainment, and accommodation services. It offers services to local and international tourists and business travelers. Besides the business travelers and tourists, the resort targets university and college students in the city, residents of the city and its surrounding. The services provided by the resort are best in quality but relatively expensive in price. The owner of the resort is quality obsessed and believes quality is everything to survive and grow, and says "if the quality of the service is the best, customers simply roam to the resort at anytime and situation." However, the past six months financial statement indicates that the revenue and profit of the resort has not been as the owner had expected. The hotel industry is booming in Arbaminch city and many of the same resorts and hotels perform more than their expectation. However, Jinka resort has very low market share and few customer bases compared to similar hotels and resorts in the city. Worried with the low market share and low customer base, the owner asked you to develop strategic marketing plan of the resort. What would you do if you are given the opportunity to consult the owner? 1. Give your responses based on BCG matrix and strategic choices (5 mark) The owner of the resort contemplates to design growth strategies in order to be competitive in the city. However, the owner does not know which growth strategy to follow. Hence, he consulted you to design growth strategy for the resort. Which growth strategy would you recommend and why? 2. Give your response based on growth strategies. Mention and elaborate all possibilities under the strategy you selected (5 mark).
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