Term

Now you have collected your data, what tools can you use to help you define the market?

Definition

SWOT PESTLE Competition amongst destinations Stages in the Butler Destination Lifecycle

Term

These tools help you define:

Definition

-What products and services your target market is already using -Which businesses are using the best marketing mix to provide these products and services -If there are any shortcomings in these products and services that you can fix to gain the attention of customers -What external factors apart from competition and demand can affect the success or failure of your business (e.g. government economic policies)

Term

SWOT Analysis

Definition

-Used to weigh the pros and cons of a product, an organization or for tourism a DESTINATION! -Strengths and Weaknesses are internal factors (meaning they are controlled by the organization) -Opportunities and Threats are external factors (meaning they are beyond the control of the organization) -It is usually conducted at the initial stage of a project to determine the market environment in which an organization operates. -It looks at the current situation in order to help an organization decide whether to move forward.