Title: A Study of the Competitive Strategy of Prachanphang Resort in Laos Based on Porter’s Five Forces Model
Author: Zhao Shu
Advisor: Dr. Zhang Li
Degree: Master of Business Administration
Major: International Business Management
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2567 (2024)
Published: The 8th STIU International Conference “TechVision Leadership: Fostering Social Sustainability” July 4-5 2024 (pp.138-151) Proceedings PDF
Abstract
This study explored the competitive strategy of Prachanphang Resort in the burgeoning hospitality industry of Laos, utilizing Porter’s 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 study’s objectives were twofold: 1). To conduct an in-depth analysis of hotel market competition status in Laos using Porter’s 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.
Keywords: ospitality industry, competitive strategy, Porter’s Five Forces, market position, Laos
A Study of the Competitive Strategy of Prachanphang Resort in Laos Based on Porter’s Five Forces Model
6517195035 Zhao Shu 2567 (2024) A Study of the Competitive Strategy of Prachanphang Resort in Laos Based on Porter’s Five Forces Model สารนิพนธ์ (Independent Study), Advisor: Dr. Zhang Li, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University