Dive Industry Analysis
5 Methods for a Scuba Diving Industry Strategic Analysis
From strategic analysis to strategies and actions in the dive industry
Darcy Kieran is the author of the reference book “Scuba Diving Industry Market Size & Statistics.”
Before we get into methods for a dive industry strategic analysis, let’s clarify what a strategic analysis is and what value it brings.
There’s value in the process of analyzing (dynamic thinking), not just in the results (static report).
What is a Dive Industry Strategic Analysis?
Performing strategic analysis for the dive industry is the process of researching the internal functioning of the industry as well as the political, economic, social, technological, legal, and environmental situation it operates in. Such an analysis is focused on gathering information and data to support the development of strategies for the dive industry. It’s about putting the pieces of the puzzle together.
We could consider “Strategic Analysis” to be an oxymoron because, in reality, a strategy is forward-looking while an analysis is based on the past. Let’s consider this term as meaning Analysis for the Purpose of Developing Strategies. But “Strategic Analysis” is shorter!
Ultimately, it’s not about analyzing until the cows come home. It’s about doing the groundwork to drafting strategies for the scuba diving industry.
Which Scuba Diving Industry Analysis Methods Should We Use?
To analyze your scuba diving business, you should use whichever method you are comfortable with. The ultimate value in performing such an analysis lies in the time you spend thinking about the industry.
We could study a business or an industry without using a specific method. But there’s value in using pre-established methods. It forces us to think about the company or the industry under angles we may not have looked at, in a free-form analysis.
The one thing we strongly suggest though is: Do not use only one method. Different analysis methods will bring up various issues, opportunities, threats, and so on.
We’ve chosen the following five methods for our scuba diving industry analysis because they are reasonably well known. We suggest the following order to use them:
Marketing Mix analysis, under 2 different angles:
- 4) The 4Ps of Marketing: Product-centered
- 5) The 4Cs of Marketing: Customer-centered
Porter’s 5 Forces provides us with a snapshot of the current competitive situation in an industry sector. It helps predict profitability.
A SWOT Analysis is typically done for a business, but it can also be applied to an industry sector. It helps identify if we should fix some of our weaknesses to prevent a match with market threats. It also helps us figure out which one of our strengths can help us capitalize on an opportunity.
The 4Ps and the 4Cs are focused on the marketing of your products and services.
Meanwhile, the PESTLE Analysis looks into the external macro-environmental factors having an impact on an organization or industry. It is a tool to identify threats and weaknesses to use in the SWOT analysis.
In some cases, we will be looking at the whole industry when performing these evaluations. But in most cases, we will apply these dive industry analysis methods to each of our five core groups of dive industry stakeholders — treating each segment as an industry.
Once we’ve performed these five analyses, we’ll provide a summary of key takeaways.
In your case, it would be most valuable to perform this exercise for your own business in its unique political, economic, social, technological, legal, and environmental situation.
From Strategic Analysis to Strategies to Action
The goal here is to discuss and establish strategies for the dive industry, not pursue analysis paralysis.
At one point, you have to make decisions and move on with them.
You won’t get it right all the time. But if you do nothing, you’ll get it wrong all the time.
And, as we learn in the Blue Ocean Strategy for the scuba industry, we need to focus on the overall strategy, not the statistics, because, by definition, stats are stuck in the past. Nothing new would be created by looking at statistics all day long. There was no demand for DVDs before the DVDs were introduced to the marketplace.
One of my McGill University professors, Henry Mintzberg, argued that we must give a more prominent role to informal learning and personal vision in the strategic planning process. We believe a new vision for the dive industry is, indeed, long overdue.
From our overview of the scuba diving industry and a few strategic analyses of the dive industry, we can start drafting some strategies to create new value for today’s consumers.
Also from Darcy Kieran:
- Handbook: Your Career and/or Life as a Scuba Diving Instructor: How to Make a Good Living Out of Your Passion for Scuba Diving.
- Logbook: Advanced Scuba Diving Logbook with Checklists for certified scuba divers, divemasters & dive instructors.
- Handbook: Advanced Guide to SPF Scuba Diving for Scuba Divers, Divemasters & Dive Instructors: Develop Better Scuba Diving Skills, Dive Safer, Save Money & Have More Fun!
- Handbook: The Ultimate Beginner’s Guide To Scuba Diving: How to Increase Safety, Save Money & Have More Fun!
- Logbook: STARTER Scuba Diving Logbook with Checklists while getting your open water diver certification!
- Reference book: Scuba Diving Industry Market Reports, Data & Statistics.
Side note: During your surface intervals, have a look at my novels with a scuba diving twist, starting with “Mystery of The Blue Dragon” and “Shadows on Ocean Drive.”
You could help the dive industry by taking part in ongoing dive industry surveys. You will also find results from our past scuba diving market studies here.
Don’t be left out! Subscribe to Scubanomics: The Dive Industry Compass to be the first to know about new dive industry market data & insights. Otherwise, be our “dive business buddy” on LinkedIn, Facebook, and elsewhere.
What now? Have a look at the complete Scubanomics Table of Contents.
