Zhao Shu. A Study of the Competitive Strategy of Prachanphang Resort in Laos Based on Porter s Five Forces Model. Master's Degree(International Business Management). Siam University. Library and Information Resource Center. : , 2567.
A Study of the Competitive Strategy of Prachanphang Resort in Laos Based on Porter s Five Forces Model
Abstract:
This study explored the competitive strategy of Prachanphang Resort in the burgeoning hospitality industry of Laos, utilizing Porters Five Forces Model. The research addressed the critical challenge of suboptimal occupancy rates at Prachanphang Resort, despite the availability of high-quality services, a prevalent issue in the rapidly evolving Laotian hospitality sector. The studys objectives were twofold: 1). To conduct an in-depth analysis of hotel market competition status in Laos using Porters Five Forces Model, 2). To develop competitive strategies for Prachanphang Resort to improve its market position.
Employing a qualitative research methodology, the study involved semi-structured interviews with 30 participants, including hotel managers, industry experts, tourism officials, and suppliers. This approach facilitated an in-depth exploration of the competitive forces within the hospitality industry in Laos.
The findings indicate highly competitive market, characterized by intense rivalry and the constant threat of new entrants. The analysis result highlights the significant impact of both the bargaining power of suppliers and buyers on operational strategies. In response, strategic recommendations for Prachanphang Resort include focusing on unique guest experiences that leverage local culture and personalized services, and adopting dynamic market positioning strategies. Additionally, the resort is advised to cultivate strong supplier relationships and respond proactively to the evolving preferences of buyers.
Siam University. Library and Information Resource Center