Sample
Business
Plan
| Market
Analysis
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EXTRAVAGANT LUXURY BED &
BREAKFAST, CONFERENCE CENTER & RESTAURANT Sample Business Plan Current Page: 11 Business plan outline Page ... 11 12 13 14 15 16 17 18 19 20 ... » Next Page |
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| Segment |
Size |
Profit |
Growth
Potential
|
Risk |
Competition |
| Local
tourists
|
Medium |
Medium |
Medium |
Low |
High |
| International
tourists |
Large
|
High
|
High
|
High |
High |
| Corporate
customers |
Medium |
Medium |
Medium |
Medium |
High |
| Segments
|
Attractiveness |
| Local
Segment |
The
local
market
segment
of
the
tourism
sector
contributes
about
R14
billion to GDP with major performance coming from government/
municipalities, corporate groups, education and professionals, and
individuals. This market segment will need larger conference and
accommodation to conduct conventions, workshops/ seminars, graduation
parties, birthday parties, music festivals, science fairs and much
more. This market segment is profitable and highly competitive. |
| International
Segment |
The
International
segment
comprises
of
sportsmen/
women,
independent
young
couples
and
families, well off homely couples and, inter-city corporate
executives. This segment needs state-of-the-art Bed and Breakfast
to use for International Conventions, conferences, workshops and
Seminars. The international segment is the leading force in the tourism
sector, it contributes about R34 billion to the GDP. Although most of
the clients in this segment are seasonal, the business managers should
consider this as a target market because of its lucrativeness. |
2.3.3 TARGET MARKET
The business will target both local and international clients. The business shall however focus/ direct its marketing initiatives on corporate clients as well as clients from various Government departments as they are a reliable and profitable market segment for the services to be rendered by the expanded Bed & Breakfast.
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