Question

Elaborate various ways tourism enterprises can analyze their competitors

Answer 1

the ways r cutural sports agro local nd intestate

Answer 2

Competitor analysis in marketing and strategic management measures is the assessment of the weaknesses and strengths of existing and future rivals. It research provides both an aggressive and a competitive defense background for detecting opportunities and risks. The profiling encompasses all competitor analysis sources into one framework to facilitate the design, execution, management and adaptation of an effective strategy.

Explanation:

Ways to analyse competitors

1. Identify your competitors: Usually competitors are divided into 3 types. Direct competition, where businesses offer the same products (tour packages) and services to the same clients in the same region as your business. Secondary and Indirect Competition,where competitors offer slightly different products (tour packages) and services or target a different clients in the same region. Substitute competition, where competitors offer different products (tour packages) and services to the same clients in the same region.
2. Collect information about Your Key Competitors: Evaluate competitors products/services and compare them to that of your products and services. Understand what are the special features and does it respond to consumer preferences? How are their products/services priced and what is their discount policy, and also estimate their cost structure. Analyse competitors’ websites, brochures, catalogues, and product documents. Follow them on social media and understand their target markets? And also analyse their unique selling proposition (USP). Analyse what customers of your competitors know about your competitors. Analyse customers' opinions about competitors products, marketing and sales strategies and customer service.
3. Analyse the Competitors' Strengths and Weaknesses: You should mention and write down the rivals 'strengths and weaknesses respectively. Is it because of their location they are popular? Are their visibility? Their staff's quality? Were their rates excessive? This analysis offers you an overview into how you should change your approach to counter their strengths and exploit their weak points.
4. Identify Your Competitive Advantage: Analyse the competitive landscape that would facilitate in identifying your competitive advantage. Perhaps cheaper costs and discounts draw more buyers, but note that the rivals may imitate this approach which could be inefficient over the long-term.