Harvard Case - Le Cerf de Tremblant
"Le Cerf de Tremblant" Harvard business case study is written by Thomas Funk, Wendy Lange-Faria. It deals with the challenges in the field of Entrepreneurship. The case study is 8 page(s) long and it was first published on : Nov 28, 2013
At Fern Fort University, we recommend that Le Cerf de Tremblant pursue a strategic growth plan focused on business model innovation, leveraging technology and analytics to enhance customer experience and expand its reach. This involves a combination of organic growth, through product development and marketing strategy refinement, and strategic partnerships to tap into new markets and customer segments.
2. Background
Le Cerf de Tremblant is a successful family-owned ski resort in the heart of Quebec. The resort has experienced consistent growth over the years, driven by its strong brand, excellent customer service, and focus on family-friendly activities. However, the resort is facing increasing competition from larger, more established resorts, and the changing preferences of younger, tech-savvy skiers and snowboarders.
The case study focuses on the challenges faced by the current CEO, Pierre, and his team as they grapple with these external pressures and internal considerations. The main protagonists are Pierre, his brother Jean-Pierre, and the resort?s long-time manager, Claude, who represent different perspectives on the future of the resort.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand reputation and loyal customer base
- Unique location and natural beauty
- Family-oriented atmosphere
- Experienced management team
Weaknesses:
- Limited investment in technology and digital marketing
- Lack of a clear growth strategy
- Dependence on seasonal tourism
- Family-owned structure can limit decision-making agility
Opportunities:
- Expanding into new market segments (e.g., younger skiers, international tourists)
- Leveraging technology for enhanced customer experience
- Diversifying offerings beyond skiing (e.g., mountain biking, hiking)
- Building strategic partnerships with other businesses
Threats:
- Increasing competition from larger resorts
- Economic downturn impacting tourism
- Climate change affecting snow conditions
- Changing customer preferences
Porter?s Five Forces Analysis:
- Threat of new entrants: High, due to the increasing popularity of skiing and the availability of land in the region.
- Bargaining power of buyers: Moderate, as customers have options for other resorts but value the unique experience offered by Le Cerf de Tremblant.
- Bargaining power of suppliers: Low, as the resort has established relationships with suppliers.
- Threat of substitute products: Moderate, with other winter activities (e.g., snowshoeing, ice skating) and summer activities offering alternatives.
- Rivalry among existing competitors: High, with established resorts competing for market share.
Financial Analysis:
The case study provides limited financial data, but it highlights the resort?s profitability and its reliance on seasonal revenue. A deeper financial analysis would be crucial to assess the feasibility of various growth strategies and investment decisions.
4. Recommendations
1. Embrace Technology and Analytics:
- Invest in a comprehensive digital marketing strategy: Leverage social media, search engine optimization (SEO), and targeted advertising to reach new customer segments.
- Develop a mobile app: Offer online booking, real-time snow conditions, interactive maps, and other features to enhance customer experience.
- Implement data analytics: Track customer behavior, preferences, and spending habits to optimize operations and marketing efforts.
2. Expand Product and Service Offerings:
- Diversify activities: Offer year-round activities like mountain biking, hiking, and zip-lining to attract visitors beyond the ski season.
- Enhance the customer experience: Introduce new amenities, improve facilities, and offer personalized services to cater to different needs and preferences.
- Develop partnerships: Collaborate with local businesses to offer packages and experiences that enhance the overall value proposition.
3. Strategic Partnerships:
- Explore partnerships with travel agencies: Increase international reach and attract new customer segments.
- Collaborate with other resorts: Share resources, marketing efforts, and customer data to create a network of complementary offerings.
- Partner with technology companies: Leverage expertise in mobile app development, data analytics, and marketing automation.
4. Organizational Change:
- Create a dedicated innovation team: Foster a culture of experimentation and rapid prototyping to develop new products and services.
- Invest in employee training: Equip staff with the skills and knowledge to embrace technology and deliver exceptional customer service.
- Embrace a more agile decision-making process: Encourage collaboration and empower employees to take ownership of their work.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Le Cerf de Tremblant has a strong brand built on family-friendly experiences and exceptional customer service. The recommendations align with these core values while embracing innovation and technology to enhance the overall experience.
- External customers and internal clients: The recommendations address the changing preferences of younger, tech-savvy skiers and snowboarders while also catering to the needs of existing customers. They also prioritize employee engagement and empowerment.
- Competitors: By embracing technology and diversifying offerings, Le Cerf de Tremblant can differentiate itself from competitors and attract new customers.
- Attractiveness: The recommendations are expected to increase revenue, improve customer satisfaction, and enhance the resort?s long-term competitiveness.
6. Conclusion
Le Cerf de Tremblant has a strong foundation for success, but it needs to embrace innovation and adapt to the changing landscape of the ski industry. By investing in technology, diversifying offerings, and building strategic partnerships, the resort can position itself for sustainable growth and maintain its reputation as a leading destination for families and skiers alike.
7. Discussion
Alternatives:
- Status quo: Continuing with the current business model could lead to a decline in market share as competitors innovate and attract new customers.
- Acquisition by a larger resort: This could provide access to resources and expertise but could compromise the resort?s unique identity and family-oriented culture.
Risks and Key Assumptions:
- Investment in technology: The initial investment in technology and digital marketing may be significant, but the returns are expected to be substantial.
- Changing customer preferences: The success of the recommendations depends on the ability to accurately predict and adapt to evolving customer preferences.
- Competition: The competitive landscape is constantly evolving, and the resort needs to be prepared to respond to new threats.
8. Next Steps
- Develop a detailed business plan: Outline the specific investments, partnerships, and marketing strategies required to implement the recommendations.
- Create a dedicated innovation team: Recruit individuals with expertise in technology, marketing, and customer experience.
- Pilot test new products and services: Gather feedback from customers and refine offerings based on their preferences.
- Implement a comprehensive digital marketing strategy: Launch a new website, social media channels, and mobile app to reach new customers.
- Build strategic partnerships: Explore collaborations with other businesses and organizations to expand reach and diversify offerings.
By taking these steps, Le Cerf de Tremblant can position itself for a successful future in the competitive world of skiing and winter tourism.
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Case Description
An owner was concerned about the condo she bought in Mont Tremblant, Quebec in 2006 as an investment property and for occasional use by her family. A beautiful, five-bedroom unit with a panoramic view over the La Bête golf course, it was close to the ski area, the village of Tremblant, shopping, spas, restaurants and a casino. It was fully furnished with many upgrades. However, by 2010, the number of rentals was disappointing, and the unit was operating well below expectations. Something had to be done to increase occupancy or she would have to sell the property. She considered changes in all aspects of marketing: her target, positioning, product features, pricing, distribution and promotion. She needed to assess the situation and determine what could be done to generate more bookings and make the venture profitable.
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