Expanded description of assessment~a management report which describes analyses and interprets the City West Custom Essay

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Expanded description of assessment~a management report which describes analyses and interprets the City West (Pyrmont Peninsula) locality of the city of Sydney, to draw specific detailed conclusions on the market opportunities (and threats) for additional

Assignment extract:

Expanded description of assessment~
In this first assessment you are required to prepare a management report which describes analyses and interprets the City West (Pyrmont Peninsula) locality of the city of Sydney, to draw specific detailed conclusions on the market opportunities (and threats) for additional hospitality usages in this study area. The range of possible usages considered in your report must include all of the following;
a) Accommodation
b) Café’s & Restaurants
c) Pubs, Taverns & Bars
d) Hospitality Clubs
To reach those conclusions you will be expected to have completed the following steps in market research and analysis, and collected/developed both written and photographic documentation of your findings.

1. Firstly you will be expected to define and describe the study area and the types of businesses and organisations now located there. For example is it an area of mostly office blocks and their workers, or does it include other types of usages such as retailing, entertainment, recreation and leisure. And what is the atmosphere of this area does it feel like a place for business, a place for leisure, a place for locals, a place for tourists or some mix of all of these groups.

2. From that analysis you will be expected to form an opinion as to what are likely to be the most important (numbers and spend) target markets for hospitality businesses in this area. Is it an area mostly visited and used only by local office workers, or does it also attract visits from shoppers, tourists, from city workers working in other areas of the city. And what use do these different types of consumers make of the hospitality usages in this area. For example is it an area for a quick visit, a night out, somewhere to go on the weekend or on holidays.

3. You will then be expected to list, describe and review the existing range of Hospitality businesses and usages that provide the most immediate form of competition for any new developments in this area. This includes identifying the composition of this competition. For example is it mostly in the form of cafes and restaurants or does it include a range of other hospitality usages. Is it mostly owner operators or does it include national and international chains. And in your opinion who are their most important customers (visit and spend) – office workers, shoppers, tourists?

4. You will then be expected to summarise the broad strengths and weaknesses of this competition, with particular reference to their Servicescapes – are they businesses which project and deliver an attractive environment to their customers (defined above) and does their design and fit out enable efficient and effective staff service. Then what gaps can you see in the range of hospitality usages now on offer? This may include missing usage groups but it could also be a factor of a need / demand for a change in market emphasis and focus for the type of hospitality businesses now in place.

5. From this analysis you will then detail and document your conclusions as to what you consider to be both the opportunities and the threats of investment in new hospitality in this study area.
As outlined above you are expected to include evidence to support your case. This must include photographic evidence to support your observations of the study area, its target markets and its hospitality businesses. It must also include evidence of using the range of market information available from the city of Sydney to provide further support for your comments.

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