This market analysis is based on the historic attraction of Lamport Hall. This 17th century Hall, home of the Isham family for over four centuries is managed since the seventies by Lamport Hall Trust a charitable organisation. In this site the visitor will find a wealth of outstanding furniture, large tranquil gardens, an agricultural museum as well as refreshment room and sometimes during the year are organised thematic weekends. Additionally, this
site is proposed for conferences, dinners and receptions. As a result, 31’500 customers benefited of these kinds of activities in 1999 and this analysis will see more precisely the current situation of Lamport Hall.
Table of Contents
1. Executive Summary
2. Sector of activity.
3. Analysis of the current market and potential market of Lamport Hall.
4. Analysis of main competition, both web and non-web.
5.Conclusion
Goals and Topics
This market analysis evaluates the current position of Lamport Hall within the UK tourism sector, specifically focusing on regional historic attractions. The study investigates market dynamics, identifies target customer demographics, and assesses the competitive environment to determine effective strategies for future growth and visibility.
- Regional market analysis and visitor demographics
- Evaluation of the heritage attraction sector in the UK
- Strategic assessment using SWOT and Porter’s Five Forces model
- Analysis of competition from web and non-web entities
- Diversification strategies for market penetration
Excerpt from the Book
Sector of activity.
In 2001, Key Note Ltd estimated that approximately 6215 tourist attractions exist in the UK of which around 2’300 generate more than 10’000 visits per year. In other words the tourism market has welcomed around 409.4 million visits in United Kingdom during 2000. According to Key Note Ltd, the tourist attraction is divided in two distinct parts: The first on the “Heritage” attractions comprising historic properties, museums and art galleries, and many different styles of gardens, monuments and churches. The second groups include all other kind of attractions. At the level of Lamport Hall, we can include this attraction in the sector of historic buildings, whereof approximately 1’500 are open to everyone in the UK (July 2001, Mintel).
These Heritage attractions are in the center of a large market mostly managed by important group such as Milburns Restaurants, Digby Trout, Sodexho Prestige, Tussauds Ltd, and also by the Government and Local Authorities. However the size of the enterprises is varying from the biggest, such as Shakespeare’s House in Stratford-upon-Avon, which had 1’017’113 visitors in 1999 to the smallest being Lamport Hall with 31’500 in 1999 (www.hetb.co.uk/non-member/).
Here can be introduced the concept of day-trips. Indeed, the indicative number of domestic day-trips is about 163.1 millions within the UK spending more than 26 billions pounds. This kind of excursion has known a sharp increase in the past five years and passed from 114.05 millions day-trips in 1995 to 140 millions in 2000, according to www.staruk.org.uk. A last detail is that 73% of visitors travel by car. (www.nlr.org.uk/places/LineMap.htm).
Summary of Chapters
1. Executive Summary: Provides an overview of Lamport Hall as a historic attraction managed by a charitable trust and outlines the scope of the market analysis.
2. Sector of activity.: Examines the UK tourism landscape, specifically focusing on the heritage attraction segment, day-trip trends, and the regional nature of the market.
3. Analysis of the current market and potential market of Lamport Hall.: Identifies target consumer segments, lifestyle clusters, and discusses SWOT elements like strengths, weaknesses, and opportunities for growth.
4. Analysis of main competition, both web and non-web.: Applies Porter’s model to analyze competitive rivalry, entry barriers, and the impact of substitute services on the market.
5.Conclusion: Summarizes the findings and proposes future strategies focusing on market penetration and diversification through technology and new target populations.
Keywords
Lamport Hall, Heritage attractions, Tourism market, Market analysis, Day-trips, SWOT analysis, Porter's model, Regional market, Consumer segments, Diversification, Market penetration, Competitive rivalry, Historic buildings, Tourism strategy, Visitor demographics.
Frequently Asked Questions
What is the primary focus of this analysis?
The document provides a comprehensive market analysis of Lamport Hall, a 17th-century historic property, to understand its competitive position and potential for future growth within the regional UK tourism market.
What are the central themes discussed in the work?
Key themes include the classification of heritage attractions, the behavior of regional day-trippers, the impact of market competition, and the necessity of diversification strategies for small-scale historic sites.
What is the primary research goal?
The goal is to determine how Lamport Hall can effectively maintain its presence and improve its market position through a combination of market penetration, infrastructure utilization, and strategic targeting of new visitor groups.
Which scientific methods are applied in the study?
The author employs standard business analysis tools, specifically the SWOT analysis for evaluating the internal and external environment, and Porter's Five Forces model to assess competitive rivalry and market power.
What does the main body of the text cover?
The main body covers the current sector of activity, a detailed analysis of market segments (including socioeconomic profiles and lifestyle clusters), a SWOT assessment of the site, and an in-depth Porter analysis of competition.
Which keywords best characterize this work?
Important keywords include Lamport Hall, Heritage attractions, Tourism market, SWOT analysis, Competitive rivalry, and Market penetration.
How does the geographic location influence the market strategy?
The report highlights that Lamport Hall’s market is essentially regional, with a catchment area defined by a 40-60 mile radius. Consequently, marketing efforts must target local day-trippers who are inclined to travel within this distance.
Why is the "brand effect" considered a threat to Lamport Hall?
Larger attractions, such as Shakespeare’s House or Althorp, possess worldwide reputations and significant funding for promotion. Lamport Hall lacks the capital to compete with this fame, making it difficult to attract visitors who have multiple choices in the region.
- Quote paper
- Alexandre Georjon (Author), 2003, Lamport Hall. A historic attraction and its strategies in visitor acquisition, Munich, GRIN Verlag, https://www.grin.com/document/21799
