Five Forces Analysis of the Hospitality Industry Research Paper

quintette Forces Analysis of the Hospitality Industry - Research Paper ExampleIn the hospitality industry, at that place is a moderately low threat from suppliers. Many of the players in the industry contribute to the percentage of suppliers since they need to fetch access to quality supplies (Pizam, 2010). Mamas can benefit from identifying reliable suppliers who provide quality goods since it intends to march on serving delicious meals to customers. Threat of BuyersIn the hospitality industry, buyers have a strong bargaining power because there is a very low switching cost between one restaurant and the other. Customers are wholesome aware of the termss as well as the expected quality of products (Enz, 2010). For this reason, Mamas on Washington Square necessarily to develop strategies for addressing the threat of buyers in the industry.Threat of SubstitutesIn the hospitality industry, there is an increasing threat of substitutes. Many players are in all likelihood to provi de customers with substitute products that are of similar quality to Mamas and within the same price range. Therefore, customers would register a limited switching cost. There is a salient need for Mamas to develop strategies for surviving in the highly competitive Industry.Ethnic Cuisine in the United StatesThere is an increasing call for for ethnic cuisine in the United States. Specifically, Asian cuisines are gaining popularity and slowly becoming part of the mainstream food. Therefore, the hospitality industry has to specialize in providing customers with a diverse range of ethnic cuisines.