Flavourhood Tours Market Analysis: Strategies and Growth

This report provides a comprehensive market analysis of Flavourhood Tours, a tour operator company offering food tours and experiences in Melbourne's northern suburbs. It analyzes the direct competitors in the tours and sightseeing market, determining the external and internal factors influencing the company's performance. The report discusses the marketing strategies used to reach target customers and increase market share, including a SWOT analysis highlighting the company's strengths, weaknesses, opportunities, and threats. It also includes recommendations for improvement, such as implementing a digital booking system, hiring casual staff, fostering partnerships with local businesses, and increasing online social media presence. Furthermore, the report uses Porter's Five Forces model to identify competitive forces impacting the company's profitability and provides insights into marketing and operational challenges, along with ways to mitigate them, using industry reports, media publications, and market research.

Running head: MARKET ANALYSIS REPORT
Topic: AN ASSIGNMENT ON FLAVOURHOOD TOURS
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1MARKET ANALYSIS REPORT
The Purpose and Scope of the report:
The purpose of the report is to analyse the company Flavourhood Tours, which is a
tour operator company, it offers Food Tours & food experiences in Melbourne's northern
suburbs. The report will analyse the direct competitors in the tours and sightseeing market.
The report will determine the external as well as internal factors influencing the company’s
performance in the Melbourne market (Char-lee, Becken and Watt 2016). The report would
discuss the different marketing strategies, devised by the company to reach the target
customers and increase its market share of tourists. The report would include a
comprehensive evaluation of the company that would include a SWOT analysis. The swot
would discuss the strengths of the company, in respect to the competition from local tour
operators. The company’s USPs, cost advantage, pricing and market segment targeting, will
be thoroughly analysed. The weaknesses of the company, are also discussed in this report and
areas of improvement will be highlighted.
The report would discuss the external opportunities of growth, and improvement of
the company. The external threats would be also analysed in light of the competition from
established as well as new players in the tour operator space (Basu 2017). This would test the
company’s marketing strategies and provide insight into areas of improvement, including
emphasis on the customer’s behaviour. The scope of the report encompasses the company’s
competitors, it does a comprehensive analysis on the strengths and weaknesses of its
competitors who offer traditional tours in Melbourne. The scope of the report will also
include the promotional strategies required and recommended to achieve the company’s goals
of reaching the target customer base and increase its sales.
The report also encompasses a few recommendations for the company which will help to
increase its productivity.
1. The company can implement a digital booking and payment system for increasing
user friendliness.
2. The company may hire casual staff, students, contractors or subcontractors to
streamline daily operations of the company.
3. The company should try to foster partnerships with local and national businesses to
increase its outreach.
4. The company should increase its online social media presence to reach out to the new
age consumer.

2MARKET ANALYSIS REPORT
The scope of this report also includes a comprehensive analysis using porters five
forces model to identify the five competitive forces that impact the profitability of the
company and the scope of these forces in the realty sector that is relevant to this company.
This report will highlight each of the forces and their impact on the company. The report
would analyse how these forces shape the local tour operator market (Divisekera and Nguyen
2018). The report will study the competition that the firm faces from external players who are
already established players in the market. It would also evaluate the potential threats from
new entrants in the industry who may disrupt the market and impact Flavourhood Tours
profit margins.
The report analyses these potential threats that these players pose. The report then
highlights the power of suppliers, who form the backbone of any tourism industry, it will then
analyse the power of the customers, who are the focus groups of the company, and are very
vital to its profitability At last, the report highlights the threats from substitutes that are
present in the market and categorise marketing and operational challenges facing the
company and the ways in which to better identify and mitigate these issues (Miller, Merrilees
and Coghlan 2015). The report would use many sources of information relating to the
company, Flavourhood Tours, evaluate the tours and travels market where it operates. The
report would use information sourced from prominent industry reports, prominent media
publications and market research reports, in conjunction with the research models, with the
company’s goal of increasing the customer base.

3MARKET ANALYSIS REPORT
References:
Basu, P.K., 2017. Is sustainable tourism development possible? Broad issues concerning
Australia and Papua New Guinea. In Tourism and Economic Development (pp. 140-149).
Routledge.
Char-lee, J.M., Becken, S. and Watt, M., 2016. Learning through a cluster approach: lessons
from the implementation of six Australian tourism business sustainability programs. Journal
of Cleaner Production, 111, pp.348-357.
Divisekera, S. and Nguyen, V.K., 2018. Determinants of innovation in tourism evidence from
Australia. Tourism Management, 67, pp.157-167.
Miller, D., Merrilees, B. and Coghlan, A., 2015. Sustainable urban tourism: Understanding
and developing visitor pro-environmental behaviours. Journal of Sustainable Tourism, 23(1),
pp.26-46.