Date post: | 17-Jan-2016 |
Category: |
Documents |
Upload: | georgina-hodge |
View: | 216 times |
Download: | 0 times |
Practice 3 – content on lesson 2
First HRC opened on June 14, 1971 in London
1982 began with the global expansion
1990 The Rank group acquired Mecca and other HRC from US or Canada
March 2007, the Seminole Tribe of Florida acquired Hard Rock International, Inc. and other related entities from The Rank Group, Plc.
130 venues Over 40 countries 70 000 pieces of memorabilia collection Showing history of Rock ´n´ Roll
StrengthsWeaknessesOpportunitiesThreats
Important for analyzing external and internal factors for faster achieving the objectives
Internal factors – strengths and weaknesses
External factors – opportunities and threats
One of the most recognized brands in the world
Different types of menu between countries (specialised on their social norms)
Lack of customers - mostly specialized on tourists
Usually located in tourist locations or resorts and not in big cities
Good positions on the global market
Franchises can be more developed into other locations
global strategy means special consideration on threats
Political situation changing in the countries
Currency changes
Social norms
Competition of new entrants on the market
What is the difference?
Mission – where is the company going and what are its objectives
Strategy – how is it going to achieve the goals
Incorporate a unique “experience” into its operations
Provide not only a custom meal from the menu for the customers
Provide events that include a unique visual and sound experience
Differentiation
Competing on cost
Quick response
Position a firm occupies against its competitors
According to Michael Porter there are 3 methods for creating it:
‘At Hard Rock, the different game is the experience game.’ - Professor C. Markides
At Hard Rock, the different game is the experience game.