SWOT ANALYSIS
Introduction
A SWOT analysis was created in the 1960’s by business gurus Edmund P Learned, C. Roland Christensen, Kenneth Andrews and William D. (R.D. Irwin, 1969). A SWOT analysis is carried out to enable a business or event to identify the areas where they excel and the areas where it is lacking. This is done in order to avoid the areas where the company is lacking are addressed and dealt with in the best possible way and is done in order to guide the decisions made by the company to ensure that the positive aspects are articulate. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Strengths and Weaknesses deal with internal positives and negatives such as reputation, patents, location. Opportunities and Threats …show more content…
The rebranding to date includes new logos, introduction into Generator merchandise such as apparel and stationary goods, graffiti artwork and neon signage and furniture. This will rejuvenate the image of the company worldwide and is a major step in launching Generator to the next level and cementing its positions in the market place.
Discount Loyalty Scheme
Customer loyalty schemes are an effective way to improve your customer-retention levels. To increase loyalty, you need to recognize and reward your best customers. Offering discounts to larger organisations particular to your identified market is an effective method of advertising. For example: Generator are currently targeting various student unions and offering a 10% discount on production of a valid ID.
Threats
Bad Economy
A bad economy can affect hostel’s business by decreasing the number of potential customers. Since the Global Financial Crisis of 2008, Ireland’s economy has been suffering. This has lead to a result of a large decline in attendee’s ability to attend events as for they have less disposable income. This can cause Ireland to become less attractive to promoters as it may offer less of an audience than other
Introduction
A SWOT analysis was created in the 1960’s by business gurus Edmund P Learned, C. Roland Christensen, Kenneth Andrews and William D. (R.D. Irwin, 1969). A SWOT analysis is carried out to enable a business or event to identify the areas where they excel and the areas where it is lacking. This is done in order to avoid the areas where the company is lacking are addressed and dealt with in the best possible way and is done in order to guide the decisions made by the company to ensure that the positive aspects are articulate. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Strengths and Weaknesses deal with internal positives and negatives such as reputation, patents, location. Opportunities and Threats …show more content…
The rebranding to date includes new logos, introduction into Generator merchandise such as apparel and stationary goods, graffiti artwork and neon signage and furniture. This will rejuvenate the image of the company worldwide and is a major step in launching Generator to the next level and cementing its positions in the market place.
Discount Loyalty Scheme
Customer loyalty schemes are an effective way to improve your customer-retention levels. To increase loyalty, you need to recognize and reward your best customers. Offering discounts to larger organisations particular to your identified market is an effective method of advertising. For example: Generator are currently targeting various student unions and offering a 10% discount on production of a valid ID.
Threats
Bad Economy
A bad economy can affect hostel’s business by decreasing the number of potential customers. Since the Global Financial Crisis of 2008, Ireland’s economy has been suffering. This has lead to a result of a large decline in attendee’s ability to attend events as for they have less disposable income. This can cause Ireland to become less attractive to promoters as it may offer less of an audience than other