Zealand academy of technologies and business køge.

First assignment: SWOT Analysis of Company- Gavnø Slot

Prepared by:

Bipana Devkota
Kajal Rai
Mirela Ionescu
Josh Dufke
Jens Andersen
Geeta Pun Magar

Keystrokes- 22,442

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Table of contents

ASSIGNMENT INTRODUCTION………………………………………………….3
METHODOLOGY……………………………………………………………………4
INTERNAL ANALYSIS
7P’s MARKETING STRATEGY……………………………………………………5-6
BUSINES MODEL CANVAS ………………………………………………………7-8
EXTERNAL ANALYSIS
PESTEL………………………………………………………………………… ......9-12
PORTER’s 5 FORCES……………………………………………………………..13-15
SWOT ANALYSIS…………………………………………………………………..16
SWOT CONCLUSION………………………………………………………………16
CONCLUSION……………………………………………………………………….17
LIST OF REFERENCES……………………………………………………………18-24

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Assignment introduction

We are to demonstrate our capabilities of conducting a SWOT analysis of the Gavnø Castle. In
order to acquire a SWOT analysis, we are to identify their company’s current internal and external
position and conditions. Such as components regarding its position in the market and its viability.
Our analyzation on the situation and conditions of the Gavnø Castle company lead to built the
SWOT analysis which is a requirement of the assignment.

Gavnø does not only have the castle where people can visit, they have events running around
the year and activities people can take part in, the group is going to do an investigation on both
internal and external circumstances of Gavnø slot business.The report we are preparing is for
findings of the Gavnø castle’s Strengths, Weaknesses, Opportunities and Threats. We will also
use some models to have us a deep business understanding of what is going on inside within the
company and how the company is being affected and socialize outside.

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Methodology

We decided to devote two tools for each (internal and external) to accomplish the accurate
analysis, as use of one tool or method to identify the business state of the company is not sufficient
or enough.

Internal analysis is all about structure, culture, employees, management, shareholders, reward
system, etc, of the company so we chose BMC and 7Ps because we found it more convenient to
use. Well, BMC is just a framework so we also add 7Ps to identify many internal factors that can
change the business structure as well as the company's marketing strategy.

Similarly, external analysis is about competitors, suppliers, distributors, customers, strategic

partners, environment so we choose PESTEL AND Michael Porter’s five forces. We use PESTEL
because it is a very broad and comprehensive look to identify what had influences over the Gavnø
castle whereas Michael Porter five forces tell us about the competitors and how attractive is the
Gavnø castle from the outside point of view.

Afterwards, we acquired a piece of information for SWOT analysis on the basis of internal and
external analysis of Gavnø company. So overall researches and findings of the whole analysis
are mostly secondary data (desk research) but also we use some primary data which were
relevant to our task (interview with Helle Reedtz-thott).

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Internal analysis: 7 P’s Marketing strategy
For the internal analysis on Gavnø Castle we agreed on using the 7 P’s Model following the
castle’s marketing plan:

Product
Gavnø offers to the public a wide range of activities both permanent and seasonal which aim at
the needs of every target group of the visitors. Among the main activities we mention the paintings’
exhibition, the brewery, Go Fly theme, Christmas market, the classic cars’ exhibition and so on.
In addition, the services provided by Gavnø are advertised on the website, so the customer can
choose the most suitable option. ( Gavnø Slot, 2019)

Price
Besides the entrance fee, the price at Gavnø is divided into several categories as it follows:
 season pass
 gift card
 tour operators
 corporate events
 real estate services (long-term room rental, horse riding pass, hunting pass)
Furthermore, Gavnø offers to its customers the possibility of getting substantial discounts to
different activities all over Denmark through their partners. (gavn.dk)

Place
The castle is located in Næstved, south Zealand, Denmark.According to the baroness Helle
Reedtz-Thott, visitors are predominantly Danes, but during the Christmas market, many Swedes
and Germans come along.(Gavnø interview, 2019)

Promotion and People

As the two dimensions are closely related, we decided to tackle them in one section. The staff at
Gavnø is therefore divided into permanent and temporary employees. The permanent staff is in
charge with the brewery the Tulip cafe, the Christmas market, the customer communication and
partly of the promotion as the website has been externalized to a specialised company.

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The seasonal staff collaborates with the castle during the summer by joining the Go Fly and
Pirates themes activities (interview with the baroness

Processes
From the internal perspective, one of the processes we chose to look at, was the customer
experience which it can be decoded as the annual visitors and returning customers. (gavnoe.dk)

Physical evidence
According to our primary data collected, the physical evidence offered by Gavnø to their
customers is represented by:
 brochure
 audio-guided tour
 coffee and brewery’s receipts
 entrance ticket

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Internal Analysis: Business Model Canvas
Components:

 Key Partners - Gavnø Castle and Park has made collaboration with multiple companies
like BonBon-Land, Summerland Zealand, Scandlines etc. that helps their business model
work effectively and optimize resources for them. (Gavnøe.dk)

 Key Activities – Activities like Go Fly, Pirate Theme Playground, Sensory Garden,
Paintings etc. are the key sources of Gavnø slot which they run in order to keep up and
deliver the value proposition of their business to its customers. (Gavnøe.dk)

 Value Propositions – Gavnø carries a strong commitment to their staffs and its Castle
authenticity so they give priority to their employees and the preservation of castle’s
heritage and its innovation that includes the restored historical rooms to preserve it for a
long time. (Interview with Baroness Helle).

 Customer Relationships – With seasonal discounts, considering customers feedback and

allowing customers to bring their own foods is how Gavnø Slot managing their
relationships and delivering their value proposition to their customers. (Gavnøe.dk)
(Interview with Baroness Helle).

 Customer Segments – Gavnø slot has their targeted groups divided into; new and young
customers, family and returning customers, which helps them to target, attract and deliver
their services productively. (Gavnøe.dk)

 Key Resources – The seasonal events like Tulip and Lily Festival, Christmas Market,
Classic Car Show and Innovation as Castle’s Brewery, various gardens are the main
assets Gavnø Slot uses to function their business. (Gavnøe.dk)

 Channels – Through Gavnø’s official website and their other social media like Facebook,
Instagram, and Gmail, they communicate their business proposition and reaches to their
customers. They try to reply to every customer’s queries and feedbacks with all of the
social media mentioned above. (Gavnøe.dk)

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  Cost Structure – Apart from gaining incomes by delivering services to the customers,
Gavnø also gets government funding so they include both of their income and fundings
and spends for the restoration of rooms, anti-UV rays installation on the window glasses
to save the wall paintings and paintings collections from getting damaged. And they also
have different cost structures for a wide range of age group customers. (Interview with
Baroness Helle).

 Revenue Streams – Gavnø Slot exchanges their values like Castle and Park, Gavnø Go
Fly, Beer Brewery, Corporate Events; Meetings & Activities etc. with the customers
through which they gain its income. (Gavnøe.dk)

Business Analysis: External

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PESTEL Analysis

P. Political: Government Funding of the Gavnø Castle

One large factor to consider in external forces is indefinitely the significant influences of the
political environment to the company at hand - (ministerial slots - og kultustyrelsen statement).
That is because any government does concern itself with information and statistics on their own
countries history, heritage and current development - (the people’s parliament of Denmark (.dk)
statement).

In our specific case, the Gavnøe castle on Gavnøe island, situated in the næstved municipality of
Denmark is over 600 years old and is owned by a member of the Royal family, the Reedtz-Thott
family since 1737. Currently, Denmark’s finest rococo castle is open for business to raise funds
for the restoration of the family’s residential area – the baroness interview.

Aside from the exposure of the tourism market - Gavnø Castle official website, as it is a Danish
heritage location of the oldest monarchy in the world – Denmark.dk, it is aided in funds by the
Danish government through one of it’s governing branches, the Ministry of Culture Denmark. It is
their responsibility to support and maintain the Danish cultural heritage as it is abundant.

E. Economical: The Tourism of Gavnø Castle

Macro Observation: Tourism is a large part of a countries economy, it can create a direct, indirect
or induced a circumstance - (TourismEconomySummery). This can be both beneficial or
problematic depending on its conditions. Such as, increasing the flow of work in the service &
hospitality industry and causing profitability – (USA Today, 2018) or, causing ‘’economic
downfalls’’ - (TwoSidesTourism) in underdeveloped regions by costing a country more money
than what it could earn during a tourism hot spot.

Micro Observation: The Danish economy is healthy and prosperous with high living standards
and with growing commutable services - (Brittanica Economy). Standards for work-life are
attractive and so is the interest and leisure in tourism - (Ministry of Foreign Affairs &

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StandbyNordicArticle, 2019). However, with possibilities in the market for business growth and a
suitable income, taxes and cost of living may be higher than what anyone could expect to any
other country – (The Local (2017) & Economic Freedom Index site). However, that pays for the
welfare system such as free education and hospital services (Danish nationals) etc –
(WorkingDenmark, Tax).

An observation on external factors upon the Gavnø Castle economically is that they do have B2B
partnerships for being sponsored by different service & experience companies - (Gavnø Castle
Partnership’s). That can cause leverage for publicity and broaden customer segments for this
company agreement in promotion - (ENAT.org, Examples). Sponsorship can help companies
succeed to a wider recognition by brand visibility as the company’s segment grows with diversity
in who is there audience - (BusinessBlog, 2018). This type of business generates profitability by
agreement and visibility for both companies.

S.Social Factor: Income of Danes

These factors include the outlook of the people towards population, age, society, culture, norms
and values, customs, demographic attributes, religious beliefs, education, income distribution,
buying habits, attitudes towards work, career, leisure, retirement and so on. – (Pestle Analysis
Contributor, 2015).

As per the income of the people living in Denmark, there is an increment in their monthly wages
(from 40953.70 DKK/month in 2017 to 41735.60 DKK/month in 2018). This trend is continued
from 2009 to 2018. – (Trading Economy 2019). As the income of the people increases, there will
be a rise in their demands. – (Economics Online 2019). Any company that cannot meet their
demands has been criticized as a failure to satisfy the customer. – (Charlotte Rogers 2016). As
most of the customers of Gavnø are Zealanders, rise in their income may affect their demand and
they need more choices of service.

T. Technology: Advances or disadvantages

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In the tourism industry, travellers are typically meant to observe their surroundings to find what
they want or to where it is they want to visit as consumers, they can even find an Apple store
abroad – (information technology, 2014). Information technology is a large industry which
continues to grow, advancing location finding and customer experience – (by Shah, Mrudul).

Technology continues to change and develop for our consumerism from phone maps to app’s
that help you we remember our experience with customized pop-ups – (GlobalGrowthAgents,
2019). It has developed into being an important player in both personal and work life – (The Ioffice,
2019 & AgingInPlace, December 2019).

However, whether or not technology can adapt into the authentic service and create more value
or cause instead not enough attention can be argued between the service provider and the
consumer – (HeritageAndIdentity, Online Published in 2017 & The Guardian, 2018 & VOX by
Lee, Timothy). It can, however, be notified that technological advances have increased
experience like communication and connection to a bigger and more possible world – (riverbed,
2019).

E. Environmental Factor: Effect of Climate Change

Nowadays, environmental factors are creating a high influence in the business sector who are
involved in the fields of service such as tourism, agriculture and husbandry. These factors
embrace ecological and environmental features such as weather, climate or climate change,
environmental counterbalance. - (B2C: Business To You Website, 2016).

As we know, Gavnø castle has a historical identification, full of natural beauty and is also known
as a tourist destination – (interview with Baroness Helle). The castle is located at Naestved which
has a significant rainfall- (Climate-Data.org) even in the driest month which can affect the natural
beauty of the Gavnø externally. Since there is rainfall almost every month, it would probably affect
the gardens and flowers of the castle which will ultimately affect the tourism there since they come
from different countries such as Germany, Norway, Sweden, Asian and so on to adore the natural
beauty of Castle.

As we can see through their website (Gavnøø.dk), they are also involved in agricultural activities
and they have used 1200 hectares of land for plant breeding such as cereals, seeds, beets and

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so on. Climate change has a high effect on agriculture -(Jesper J. K¨uhl 2005), it can increase
and decrease the production of grains. Since the Gavnø is located at Naestved, extreme rainfall
can decrease the production of grains which can affect the investment policy of Gavnø in
Agriculture.

L. Legal Factors: Danish Law of Alcohol and Hunting

These factors are related to the laws such as consumer law, health law, international law,
import/export law and so on, which affects the business as well as consumer behaviour externally-
(Thomas Bush 2016). The business organization should perceive what is lawful and permitted
within their region. – (Oxford College of Marketing).

The Gavnø Castle produces its own high-quality beer of six different types (Weiss, Kloster, Paske,
Pale, Ale, Stout, Ipa) which can be enjoyed in the castle brewery, in the Café Tulipanen and a
handy six-pack to take home. -(Gavnøø.dk). As per our visit (to Gavnø on 26 September ) we
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didn’t see any age limit or rules to buy alcohol but as per Nordic Alcohol Policy Report "The first
age restriction (15 years) on buying alcohol from retail outlets was imposed in 1998. This was
raised to 16 years in 2004 and again to 18 years for drinks stronger than 16.5% vol. in 2010.” So,
this consumption rule can affect Gavnø externally.

Gavnø also offers hunting and gamekeeping activities under its ethnic inheritance where we can
find Sikavildt, Red Deer, Fallow Deer and Muflon. They offer the people (local Danes or
International people) some hard but rewarding shooting days. -(Gavnøø.dk). But for hunting in
the Danish territory, the people need a valid Danish Hunting License either temporary or
permanent from the Danish Hunting License Office which is issued by the National
Commissioner’s Office. -(Rasmus Andersen 2019). This hunting license can be an external factor
for Gavnø to be affected

Porter’s 5 Forces

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 A. Threat Of New Entrant’s

In the Naestved municipality, there are approximately 15 other attractions that provide somewhat
similar experience as the Gavnø Castle and so more across Denmark. From exposure in nature
as part of attracting customer interest in healthy experiences to up-close sightings of historical
findings, antiques or location’s - (TripAdvisor). However, the closer to the Gavnø Castle the more
reason to be aware of marketing and strategy - (UserNeeds by Jonathan Lang). gavnoe.dk

There are some possible threats from new entrants that can be identified, the closest and nearest
replacement for a famous Gavnøe Castle event, it’s classic car show is located directly in the
town of Naestved. The Naestved Automobile Museum rides alongside the 4 stars lane according
to TripAdvisor and the furthest service provider has been identified – (Gavnø Castle Baroness
Interview) as the newly established camp adventure located on the outskirts of Naestved –
(reviews and descriptions). The camp adventure site provides the heights higher than the Gavnø
Castle’s ‘’Gavnø Gofly’’, but not it’s a historical landmark, however, with a view over the local
forestry to perhaps matching the quality of experience.

B. Bargaining Power of Buyers

Buyers consume the product and services, produced by the company (seller). They have the
power to enforce the seller to provide the high quality of products and services, maybe at a lower
price. – (Corporate Finance Institute 2015).

More buyers, more bargaining power. If the buyers could enjoy the same product from other
suppliers, then their bargaining power increases at high point. -(Corporate Finance Institute 2015).
For example, Gavnø has a famous go fly activity, in contrast, Camp Adventure -(camp
adventure.dk), also has to go fly activities. So, in this case, there is a high chance of switching
the customers because of the cost.

C. Bargaining Power of Supplier

Suppliers are those people who provide various products and services (raw materials for making
the final good) to the company. They can deploy bargaining power by increasing prices or
decreasing the value or quality of the product. –(Michael E. Porter From the March 1979 Issue).
In this case, Gavnø is a buyer and they have the final product like Café, Tulip, grain breeding,
Castle’s Brewery, maintenance of paintings and rooms and so on. (Gavnøø.dk). So, there can be
the suppliers (we couldn’t find about suppliers in the website of Gavnø or any article) of raw

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materials to Gavnø who supplies Coffee for the café, grain for the farming, tools for maintenance,
and so on. Since Gavnø castle is famous for its product and events, they can have multiple choice
of suppliers and because of this, the supplier’s power can be low at this point. Low supplier’s
power could result in high profitability as buyers are not controlled by the suppliers. – (Corporate
Finance Institute 2015)

D. Threat Of Substitutes: Products And Services

The Gavnø Castle provides the experience that may not be easily substituted because of the
rarity of the service. It’s closest substitute would have to be similar services in viewing antiquities
or more accurately any other Royal houses that allow the consumer to walk through preserved
history - (VisitDenmark.dk/Castles).

However, it should be expected that every authentic experience is different to receive. As each
Castle is quite a distance from each other and that they each provide a different view of the time
that they were built in. Customer preference may not be easily identifiable to which experience
would be the better cost - (AllinOneOnlineArticle).

Museums may have some substituting power over the Gavnø Castle’s availabilities, yet it does
not give the same opportunities or the authentic experience. It may even give more to know of,
yet an unpredictable experience would have to be anticipated as the first thought into service.
But, perhaps to what any customer could want more off in cost, which would be a souvenir from
experiences, the Kahler Flagship store, nearly 180 years old in traditional pottery making in Nordic
design and gastronomy, also located in the Naestved town - (Kahler.com).

E. Rivalry Of Existing Competitors

Currently, existing rivalry to the Gavnø Castle is unknown as there are none other similar
alternatives to experiencing the service of the Gavnø Castle in viewing into the old and some
Royal family painting’s, children’s themed park and a galore of seasonal flowers and among
others like horse riding land or the popular Gavnø Go fly. Unless the distance of other Castle
attraction’s or other activities were accounted into a reasonable scale that could confirm what had
bested whom in service and experience - (GoogleMaps Attractions).
Yet it is possible to consider what another tourism location’s there are to the Gavnø Castle that
could be a second thought for returning customers - Entrepreneurs BusinessCanada. In the

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naestved municipality, there about 5 activities that could have a leverage over the Gavnøe Castle
invitation to history like ZooPark (sydshaelland), where the experience is not the same for
everyone toward animals - (official website not functioning) or But in full regard to a competition
to the Gavnø Castle and it’s funding ambitions, there may not be a challenger since destination
boom – (The Telegraph) and new business can occur without notice or expectation - (Time
Article).

SWOT Analysis

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 S: Strengths W: Weaknesses

1. Painting collection 1. Castle Location

2. Seasonal package 2. Not enough exposure
3. Seasonal employees 3. Insufficient parking area
4. Christmas market
5. Open area
6. Antique rooms

O: Opportunities T: Threats

1. Government funding 1. Change Of Law (Unpredictable -

2. Partnership’s Promotion end of funds)
3. New Applications 2. Weather Condition
4. No Equal Competitors
5. An Authentic Experience (no digital
interruptions)

Origin Of SWOT Conclusions:

Primarily, total information regarding the data of the Gavnøe Castle has been considered to be a
matter of qualitative perspective in finding viable material by interview notes and secondary data
found online that leads us to assumption and reliable perspectives and opinions.

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Conclusion

We analyze the internal and external part of the Gavnø castle using two tools for each analysis.
For us, analyzing internal condition was much easier than external because we had already
visited the Gavnø castle in our first Theme and we had got lots of internal information including
some external data from the interview with Helle Reedtz-thott ( the owner of Gavnø slot).
However, collecting information and data for the external analysis using PESTEL was very
comprehensive but it was very good knowledge for us to know the external conditions of Gavnø
castle with in the country. Through the internal and external analysis, we come up with SWOT
data which talk about the strength, weakness, opportunities and threats and by considering
SWOT analysis, we can conclude that Gavnø castle complies with the requirements of the service
industry as well as we identified which points should be improved.

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