Wedding Industry

It is easy for the new business to enter the industry in terms of cost factor. But when you look at the location advantages Westlake Lanes, it is located close to downtown area and neighborhood. It is also there in the industry for thirty

The Intensity of Rivalry among Competitors in an Industry (High): Equally balanced competitors exist within the industry such as BCF and KMD; these firms also face competition from retailers and wholesalers. The growth of the industry is relatively agile in both financial and technological aspects. The intensity or rivalry is further accentuated by relatively high storage and fixed rental costs, extensive product differentiation and minimal switching costs.

There is also an amount of prestige involved; the gifts received in a wedding are displayed in a ledger for guests to look through to indicate the family’s standing among its friends and

Although the restaurant industry is perceived to have high risk of failure, the risk of a restaurant failing is not too different from other small businesses. Parsa et al. quantified the risk of failure at 26% in the first year and 57% by year 3. He also described several factors that can influence the risk of failure. Those include physical location, firm size, speed of growth, differentiation from other restaurants in the market, adapting to external trends, and management experience. In terms of location and differentiation, Paul’s bar will be located in a new development designed to attract affluent customers and with very few competitors. Paul’s small firm size increases risk because of barriers to attract partners (i.e. suppliers and bankers are prejudiced against smaller firms) and growth that may be too rapid to manage. On the other hand, Robert already has experience in the restaurant business and should know how to run the bar and subsequent restaurant. Their choice of a piano bar may be in response to local trends that favor success.

Rivalry among existing competitors describes the intensity of competition between “Broadway’s Café” and existing coffee shops in an industry. A highly competitive industry might result from many players of about the same size, on single dominant competitor, little differentiation between competitors’ products and services

Joy-Anna Duggar married Austin Forsyth on May 26. The two were engaged earlier this year, shortly after Season 3 of Counting On had ended. There were rumblings of Duggar and Forsyth wanting to get married right away, but no one anticipated the wedding would have been planned in just a few months. They psyched out fans with their wedding registry because the date listed was in October and happened to be Joy-Anna's birthday. While many thought that was odd, it wasn't really shocking. Since the big announcement broke about the May wedding, there has been a lot of interested in details from the ceremony and reception.

The Objective is to plan a wedding that will be timely, within budget, memorable and exclusive.

Competition being one of the major issues that often must be addressed in the business world, it is important for a firm to learn on ways to reduce the impact of the competition. Competition is definitely an important factor in helping a business

In terms of the restaurant industry, the capital requirements for entry are not large. Buildings can be leased, input food supplies can be bought fairly cheaply, and the fees for opening a business, as long as there are not liquor licenses involved, are manageable. Other barriers to entry play a larger role. Reputation is very important in the restaurant industry. It is difficult to build a brand/reputation from scratch. Panera possesses a strong advantage because they already have a great reputation. In 2011, Zagat gave Panera

Using weddings as the main case study for this project, it allows deep investigation into a topic which isn’t normally used for academic research. Weddings aren't normally the subject of academic works, this provides difficulty for this project, however it also leaves room to explore areas of the events industry and combining them with consumer behaviours. Using weddings as the case study creates a new investigation into social and economic factors which influence consumers. With weddings have specific traditions and themes the audience can determine what factors influence decisions.

Through the land building and equipment, which the business lease or rent to other business or the potential customers

Existing Competitors. Rivalry among competitors within an industry use price discounting, new products, marketing, and other techniques to be competitive. Profitability of an industry suffers from high rivalry. The intensity with which companies compete and the basis on which they compete determine to which degree rivalry brings down an industry’s profitability (Porter, 2008). Pure competition is considered by economists as a competition with a high

Competitive rivalry exists between companies with the same or similar products/services and similar markets. Factors to be considered include:

The entrepreneur that I interviewed was Lydia Patterson. In 1989, Lydia and her husband, Lou, decided to start planning to open up a new Italian restaurant in Virginia. The restaurant industry, especially in the Washington DC area is very competitive. It is highly competitive with respect to price, value and promotions, service, location, and food quality.  There are a substantial number of restaurant operations that compete for customer traffic, some of which have significantly greater resources to aggressively market to consumers, which could result in losing market share.  Consumers are highly focused on value and if other restaurants are able to promote and deliver a higher degree of value, guest traffic levels

Another quality of perfect competition that may be overlooked, but is vital to this industry is the ease of entry into the market. Start-up franchises within this market structure can begin operating with relatively low initial investments (compared to other industries). This is not the case where monopolies are concerned. There are numerous barriers to entry into monopolistic market structures, capital being one of the most prominent barriers.