In 2004,Giorgio Armani,the Italian fashion group,announced plans to launch a $1 billion international luxury hotel chain containing ten hotels and four resorts before the end of 2015.
-Refer to Giorgio Armani.By conducting which of the following could Armani identify a large and growing segment of the market that wanted a luxury lifestyle?

Question

Quizplus · Accepted Answer

A market opportunity analysis would involve researching and analyzing current and potential markets to identify opportunities for growth and expansion. This would allow Armani to identify a segment of the market that wanted a luxury lifestyle and assess the potential demand for a luxury hotel chain before investing in the project. A market audit would focus more on analyzing the company's current position in the market and its competitors, while a niche analysis would focus on identifying a specific, specialized market segment. A social audit would involve assessing the company's social, ethical, and environmental impact.

In 2004,Giorgio Armani,the Italian Fashion Group,announced Plans to Launch a $1