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This Paper is lengthy one its 8-10 pages long not including the cover page and the work cited. My Market Domain is The Marriott. More specifically is the Marriott Hotels and there tourism.
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Running head: MARKET DOMAIN OVERVIEW
Market Domain Overview
Name:
Institution:
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MARKET DOMAIN OVERVIEW
Marriot is a global hospitality and Tourism Company, and its corporate headquarters are
in Bethesda, Virginia. The primary owners of the company are J.W. and Alice S. Marriot; the
business was initially a root beer stand. The couple's first hotel was the Twin Bridges Motor
Hotel which they opened in Arlington, Virginia in 1957. Currently, Marriot Company has over
three thousand subsidiaries worldwide. The company has different brands like J.W. Marriot
Hotels and Resorts, Renaissance Hotels, and Resorts, Ritz –Carlton, Courtyard and Residence
Inn.
This research will identify and examine inhibiting and enabling factors that contribute to
obsolescence and dissolution of companies that operate in the tourism sector. The study will also
assess the impact these factors have on opportunities for change and innovation in the industry
above of business. The tourism industry is a unique sector of the market, and several factors
make it different from other sectors, namely; intangibility, perishability, inseparability,
heterogeneity, and lack of direct ownership. (Reid & Bojanic2009)
Inhibiting Factors That Affect Tourism Industry
Inhibiting factors that affect the hospitality industry include; seasonal changes, demand
and supply, changes in government regulations, technological advancements, competitors, and
political involvement.
Seasonal Changes
During seasonal holidays such as Christmas, Easter and Thanksgiving families prefer to
spend time family and prepare a meal at home. Customers are less likely to eat out in restaurants,
this affects dine-in hotels, but fast food businesses thrive. Customers pick up quick meals while
shopping for guests and family members.
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MARKET DOMAIN OVERVIEW
Restaurants perform well during the summer because the warm temperature attracts
tourists. Hotels host outdoor events such as music concerts which draws more customers thus
increasing the sales volume of the business. Winter season is the one that negatively affects the
hotel industry. Snow, ice or freezing temperatures discourage customers from eating out in
restaurants. However, hotels can combat this by offering food delivery services to enhance a
continuous flow of business. Customers can order meals online or by phone, and within a short
period, the food will arrive at their homes.
To compensate the drop in sales in the winter season hotel owners can maximize their
profit in the peak seasons by giving distinctive customer offers. For example, free appetizers and
desserts, two-for-one meals and percentage discounts on checks. Giving away free meals and
discounts is costly to the business, but the gesture creates an appeal which lures more customers
thus increasing profit margins.
Demand and supply
Demand refers to the quantity of a product or service that consumer's desire and are
willing and able to buy. Supply, on the other hand, is the ability of a business to provide a good
or service satisfactorily.
Health care industry and the media carry out c...