LF9 Basic Strategies Study Notes PDF

**Inhalte Klausur LF9 Teil 2:** [Inhaltsverzeichnis:] 1. [Hotelverträge](#Hotelvertr%C3%A4ge) 1. Hoteltypen 2. Arten von Boards 3. Verträge 4. [Clauses](#Clauses) 2. Transferarten 3. Basic Strategies 5. Porters 5 Forces of Framework 6. Industry Lifecycle...

**Inhalte Klausur LF9 Teil 2:** [Inhaltsverzeichnis:] 1. [Hotelverträge](#Hotelvertr%C3%A4ge) 1. Hoteltypen 2. Arten von Boards 3. Verträge 4. [Clauses](#Clauses) 2. Transferarten 3. Basic Strategies 5. Porters 5 Forces of Framework 6. Industry Lifecycle 7. Legal Issues § 651 BGB 8. Porters generic strategies 9. Ansoff Matrix 10. BCG 11. Economies of Scale 4. Wichtige Begriffe (Stakeholder, Polypol) 5. Reisepreiskalkulation 1. []{#Hotelverträge.anchor}**[Hotelverträge:]** 1. [Types of Hotels:] +-----------------------------------+-----------------------------------+ | - Resort | - Chain hotel | +===================================+===================================+ | - Club | - Luxury Hotel | +-----------------------------------+-----------------------------------+ | - Motel | - Business Hotel | +-----------------------------------+-----------------------------------+ | - Hostel | - Riads | +-----------------------------------+-----------------------------------+ | - Boutique Hotel | - Lodges | +-----------------------------------+-----------------------------------+ | - Adult-only hotel | - Bed & Breakfast | +-----------------------------------+-----------------------------------+ | | - Concept / Theme | +-----------------------------------+-----------------------------------+ 2. [Arten von Boards:] 1. 0 overnight 2. 1breakfast 3. 2 half-board 4. 3 full-board 5. 4 all-inclusive 6. \>4 ultra all-inclusive 3. [Hotelverträge:] Garantievertrag: garantierte Zimmerabnahme; Risiko: Veranstalter Beispiel: bei Abnahme von 10 Zimmern tägl. Woche 1: 9 Zimmer; Woche 2: 11 +-----------+-----------+-----------+-----------+-----------+-----------+ | Contingen | | | | | | | t: | | | | | | | 20 | | | | | | | | | | | | | | Guarantee | | | | | | | : | | | | | | | 10 | | | | | | +===========+===========+===========+===========+===========+===========+ | 1 | 2 | 3 | 4 | 5 | 6 | +-----------+-----------+-----------+-----------+-----------+-----------+ | 8 | 10 | 10 | 12 | 12 | 8 | +-----------+-----------+-----------+-----------+-----------+-----------+ | 10 | 10 | 10 | 12 | 12 | 10 | +-----------+-----------+-----------+-----------+-----------+-----------+ | 8 | 10 | 10 | 12 | 12 | 8 | +-----------+-----------+-----------+-----------+-----------+-----------+ | 8 | 10 | 10 | 12 | 12 | 8 | +-----------+-----------+-----------+-----------+-----------+-----------+ 4. []{#Clauses.anchor} [Clauses:] können mit jedem Vertrag kombiniert werden Most favoured Clause: no other TO will get a lower price than you 2. **[Transferarten:]** 1. **Bare** (Bus only) 2. **Distributor** (Driver + Coordinator) 3. **Welcoming** (Driver + Welcomer (hakt ab)) 4. **Guide** (joins ride to hotel and tries to sell excursions on the 1st day), welcome drink 5. **Tour Guide** (part of the whole vacation), most expensive 3. **[Basic Strategies:]** 5. [5 Forces of Framework (Porter):] - business strategy model, to understand the main competitive forces in their industry - Forces represent the key sources of competitive pressure within an industry - Only works in competitive rivalry (not in monopoly) - With a patent you can lower potential entrants (Bsp. Rotel) - Or with exclusive clause [Substitutes:] number of substitutes available, production differentiation, switching costs [Suppliers:] number of suppliers, size and costs 6. [ Industry lifecycle:] 1. Development: - low rivalry because of few suppliers - differentiation is key 2. Growth: - high growth - easy entry (due to high demand, low rivalry) - companies invest 3. Shake-out: - market fills itself - increasing rivalry - some companies leave the market, while stronger companies consolidate their market shares - Companies often must reduce costs and optimize their processes 4. Maturity: - market has reached its maximum potential - hardly any growth left - companies have established themselves - Competition is strong with few barriers to market entry - Market leaders concentrate on maintaining their market share - Efficiency and cost control are crucial - Companies can secure their competitive advantage through product differentiation, innovation and service - Strengthening customer loyalty is also important - increasing rivalry - Some companies leave the market, while stronger companies consolidate their market share 5. Decline: - Demand for products or services is falling, market shrinks - Extreme rivalry dominates as many companies fight for a shrinking market share - frequent market exits and strong price pressure - Companies need to rethink their strategies, e.g. by exiting the market, reducing costs or moving into new business areas. - Flexibility and adaptability are crucial in order to remain profitable 7. 651 § BGB -- Pauschalreisevertrag - Regelt Rechte und Pflichten bei Pauschalreiseverträgen [Pflichten:] - Bereitstellung der vereinbarten Reiseleistungen - Übergabe eines Sicherungsscheins bei Zahlung vor Reisebeginn - Information über wesentliche Reisebedingungen [Reisemängel:] - Reisender kann Abhilfe verlangen - Preisminderung oder Schadensersatz bei Mängeln - Rücktrittsrecht bei erheblichen Mängeln - Reisender kann jederzeit vom Vertrag zurücktreten, Veranstalter kann angemessene Entschädigung erhalten 8. Porters' generic strategies: [Differentiation:] - Competitive strategy with which a company tries to separate its products from the others --\> they want to be unique - They may use creative marketing, special product features, higher quality, new technologies to achieve the uniqueness - The company reduces rivalry with competitors if buyers stay loyal - Company relies on customers loyalty - Prices of the product are usually higher (e.g. Nike) [Focus (Niche):] - Strategy that targets specific market segment - Tailoring products to the segments unique needs - Can be achieved by cost focus or differentiation - Tries to serve this specific group [Cost leadership:] - Company searches for large-scale production facilities - They cut costs, use economies of scale, gain experience and control their costs regularly - They want to be more efficient and low cost - Company can offer their products at low prices but good quality - E.g. Amazon 9. Ansoff Matrix: - Tool, to set growth strategies for products and markets - Contains 4 different strategies [Market Penetration consolidation:] - Improving profit of the existing products - With marketing, price reduction and better trained employees [Market development:] - Existing product will be introduced to a new market - Target group should become bigger [Product development:] - New product gets introduced to old market - Usually, the product is not completely new but it fits the customers' needs and market better [Diversification:] Horizontal: new, similar product that has different target group Vertical: company extends value chain to upstream or downstream processes Lateral: new product that is completely different to the others, opens new market 10. BCG Matrix: - Helps companies rate their products - Categories base on market growth and share Stars: - Products are market leader and have high potential to keep growing - Companies should invest more in them Cash cows: - Used to be a star but doesn´t grow anymore - Company makes the most money with it - They should not invest money anymore in it but take the profit Question marks: - New product - High growth rate but little market share - Company should think about investing in it Poor dogs: - Products have almost no potential - They´re a burden for the company - Company should seriously think about if it Is good to keep it in the sortiment 11. Economies of scale: - A company that is already on the market and well known has advantages - It can produce in bigger amounts and can spread the fix costs on more products - This makes the price per product lower - A company that is new on the market has no experience and can only produce in small amounts - The fix costs need to be spread over fewer products - This makes the price per product higher 4. **Wichtige Begriffe:**