Assignment task: Chanel, the French fashion company, revealed intentions in 2022 to build a $1 billion worldwide luxury hotel network with 10 hotels and four resorts by the end of 2035. One of the primary motivations for establishing a hotel chain was a global trend toward luxury lifestyle shopping. In terms of Chanel's situation analysis, the trend toward luxury lifestyle consumerism is an example of a(n):
Group of answer choices
- strength because it is part of Armani's external environment
- situational advantage because it gives Armani growth opportunities
- weakness because Armani cannot control the growth of the trend
- benefit because Armani's internal resources can be designed to make its external environment
- opportunity because it is part of Armani's external environment