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According to the following information, 1) Identify the key…
According to the following information,
1) Identify the key stakeholders of this business and
2) Consider the organisation’s strengths and weaknesses in the face of the threats and opportunities. (e.g. SWOT)
The two subsidiaries of New World Development Company Limited (NWD) are K11 MUSEA and Rosewood Hong Kong, respectively, and they both take the strategic measures of Differentiation at the company level.
K 11 MUSEA is a cultural retail destination in Hong Kong, which combines art, culture, and business, creating a unique shopping and entertainment experience for tourists. Some strategies adopted by K 11 MUSEA to achieve this goal include:
K 11 MUSEA exhibited more than 100 works of art and installations works from local and international artists. These devices have been integrated into the design of shopping centers, providing visitors with a unique and fascinating experience. K 11 MUSEA regularly organizes cultural and artistic activities, interacts with the local community, and promote cultural exchange. The mall also provides a platform for local artists and designers to showcase their work and reach a wider audience. On the other hand, K 11 MUSEA combines local and international brands, which is not common in other shopping centers. The shopping center also offers a range of dining options, including restaurants offering unique and innovative food.
K 11 MUSEA provides a series of immersive experiences, allowing visitors to participate in art and culture in new and innovative ways. For example, the Nature Discovery Park on the roof of a shopping mall has a series of interactive exhibitions and seminars to let visitors know about the environment and sustainable development. In addition to K 11, MUSEA also attaches great importance to sustainability and environmental responsibility. The mall features a range of eco-friendly features, such as a rainwater harvesting system, and hosts events and workshops that promote sustainability and environmental awareness.
Rosewood Hong Kong is a luxury hotel located in the heart of the Victoria Dockside arts and cultural district on the Kowloon waterfront. The hotel has adopted several strategies to position itself as a world-class destination for luxury travelers. Some of these strategies include:
1. Building a strong brand: Rosewood Hong Kong has invested heavily in building a strong brand through its unique design, world-class service, and attention to detail. The hotel’s brand is centered on delivering a personalized and authentic experience to its guests.
2. Offering exceptional service: Rosewood Hong Kong places a strong emphasis on personalized service and attention to detail. The hotel has a team of highly trained staff who are dedicated to providing guests with a seamless and memorable experience. The hotel also offers a range of luxurious amenities, including a rooftop infinity pool, a spa, a fitness center, and several high-end dining options.
3. Focusing on sustainability: Rosewood Hong Kong is committed to sustainability and has implemented several initiatives to reduce its environmental impact. These include using locally sourced and organic ingredients in its restaurants, reducing waste through recycling and composting programs, and using energy-efficient lighting and equipment.
4. Emphasizing local culture: The hotel celebrates the local culture of Hong Kong through its design, artwork, and cuisine. The hotel also offers guests the opportunity to explore the city’s rich cultural heritage through a range of curated experiences and activities.
Overall, Rosewood Hong Kong’s strategies are focused on delivering a world-class luxury experience to its guests while also promoting sustainability and celebrating the local culture of Hong Kong.
The current strategy of NWD should remain unchanged. The key differentiation includes targeting a narrow market segment with a unique and professional product or service. The advantage of focus differentiation is that it allows a company to create a competitive advantage by providing product or service that are highly valued by a specific customer.
Higher prices: Because the product or service is specialized and unique, companies that use focused differentiation can often charge higher prices than their competitors. This is because customers are willing to pay a premium for a product or service that is tailored to their specific needs.
Increased customer loyalty: By providing a unique and specialized product or service offering, companies using focused differentiation can create strong customer loyalty. This is because customers are more likely to stick with a company that provides a product or service that meets their specific needs and preferences.
Lower competition: Focused differentiation allows a company to target a narrow segment of the market, which can result in lower competition. This is because other companies may not be able to replicate the specialized product or service offering, or may not see the segment as attractive enough to pursue.
Overall, focused differentiation can be a powerful strategy for companies that are able to identify a specific segment of the market with unique needs and preferences. By providing a specialized product or service offering, companies can create a competitive advantage and build strong customer loyalty, which can ultimately lead to increased profitability and growth.
