Business Goes With The Mean Data Analysis - 1335 Words

In this case, the business goes with the mean data analysis; the customers coming in the hotel will be within the range of 20kms. If they go with median data analysis, range will only be with in 20 and 25kms. And if the go with the mode data analysis, the range could be anything from 5 to 40kms Identify and review a range of external sources of information (such as relevant books and articles, information on the internet, benchmarking studies) in order to conduct a qualitative analysis of comparative market data for your business. Write up the results of your qualitative analysis. External sources of information Results of reviewing these sources Book name 1:Astrid N. (2004) Coffee, tea, Chocolate and the Brain, published by Taylor †¦show more content†¦Identify and describe the company’s competitors, as well as analyzing relevant information such as market share or number of customers in relation to your chosen business. Discuss and report on the opportunities and threats that this creates? Company names Products offered by these companies Market share of these companies Westend Market Hotel Tab, Night club, Bistro, Accommodation, Function room hire, pokies, public events 49% The Ashley Hotel Tab, Gaming, Bistro, Alcohol 21% Palms Hotel Bingo, Pokies, Alcohol 14% Braybrook Hotel Pokies, Buffet, Alcohol 16% Opportunities and threats that this creates: Franchising: it is a relationship in which the owner of the business allocates to independent individuals the right to market and deal out the goods or service, and by using the business’s name for a fixed period of time. . This model can be used to describe a number of business models, such as McDonalds, KFC, etc. But there are other models which are rely on franchise relationships. 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