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in functions which allows it to held large functions that Beaufords cannot. Its buildings and facilities are in good condition, large area as it uses One Tree Hill’s land to hold functions, higher price set to have higher return on margin. These advantages are similar to Harbour Function Centre even thought it does not provide many of the services that Harbour Function Centre provides but in place it provides restaurant dinning. With the restaurant this has given Cornwall park restaurant advantage in terms or having daily contact with customers. This gives the company more opportunity to let its dinning customers know about their other services. Based on customers’ dinning experience they will create a carry over effect on Cornwall park restaurant’s other services and recommend others to buy their services. The third most competitive rival is Romfords it is also a small establishment like Beaufords and also specialises in holding functions for weddings. Its buildings and facilities are in good condition and its services, products and prices are all very similar to Beaufords which makes it a close competitor to Beaufords. Unlike Beaufords, it is able to extend its area to increase maximum capacity for guests with the land around it. Lastly, Sorrento is considered to be the weakest competitor against Beaufords. Its buildings and facilities are also in good condition. Its maximum capacity for guests is slightly higher than Beaufords, its services and products are similar to Beaufords as well. However, its prices are high like Harbour Function Centre which may disadvantage it when customers are price sensitive and will choose Beaufords or lower price establishments. Overall it can be seen that good conditions in buildings and facilities existed in all of the companies mentioned. There is fierce competition because basic services, products are all extremely similar between all establishments. As a result it is based on customers’ level of satisfaction to ensure future business. 2.4 Market Segment Analysis This section of report is essential for Beaufords as it will guide its marketing activities by aiming at the right customers. Market segment analysis will help organisation in terms of deciding what products or services to provide and its ability to satisfy customers’ needs and wants. Benefits for effective use of market segment analysis will help Beaufords use its marketing dollars more effectively. Also helps them know what there customers are and what they want in order to accurately select the right promotional techniques. (Morrson, 2002) Currently Beaufords market segmentation approach is multistage segmentation based on geographic, demographic, and behavioural segmentation bases. Weddings - couples Conference - corporate Private functions - any Age 25 – 34 years old Not applicable Not applicable Origin White (European, locals) Maori Pacific islanders |
