Friday, July 26, 2019

Tourism and Hospitality Marketing case study Essay

Tourism and Hospitality Marketing case study - Essay Example As a result, most of the entrepreneurs in this recent age desire to cope with the changing needs and requirements of the customers as well as marketing ideas. Nowadays, social media or online marketing is used for attaining the products and services of their choices. It is mainly due to the high craze for information technology within the target customers of the recent age. So, it is accepted as the most vital way of promoting any product or service of any organisation. Thus, from this it may be analysed that each and every generation or age group presents a unique style, experiences, values and demographics, thereby offering a high level of influence on the buying behaviours (Pires, 2006). In this regard, most of the companies of this age are targeting to approach multi-generational consumers so as to understand their behaviour and demands. Multi-generational or generational marketing acts as the practice of understanding the needs, style, values and behaviours of individuals within one or more than one particular group. This is done by the entrepreneurs or marketers to analyse the demands of the consumers, tailored according to their age groups. By doing so, a specific segment of customers is focused on by the organisation entirely based on the demographic and psychographic factors. As a result, the total sales of the organisation might be increased and result in amplification of its profitability and ROI in the long term. Concurrently, positioning of brands in the minds of the customers of an organisation might be effective. Consequently, the brand image and reputation might also be enhanced to a significant extent, which is extremely essential to sustain in the long run (Williams, 2006). Hence, due to these above mentioned advantages, the generational approach is adopted marketing in this recent age so as to remain competitive in the market among other rivals. At the same time, the level of reliability and trust within the minds of the customers also enhanc es, resulting in reduction of the switch-over rate. However, the generational approach to marketing comprises certain disadvantages as presented below. Always interested in the technologically advanced products or services The interest rate or demand for a particular product or service is extremely short term based Not at all loyal to the brands or the product lines of an organisation Switch-over rate is extremely high Highly influenced by word of mouth that is short-termed Highly influenced by friends’ or peers’ views and ideas Desires to experience innovative products and services of different organisations Therefore, due to all these disadvantages mentioned in the above paragraph, it may be inferred that the generational marketing approach is both advantageous and detrimental for an organisation in the long run (Cho & Woods, 2006). Answer 2 Sydney is the capital of the state of New South Wales, Australia. It is one of the most populous cities within Australia. It is located on the south eastern coast of the Tasman Sea. Sydney comprised a population of approximately 4.6 million in 2010. Besides, the city of Sydney also experiences a pleasant climate with a mild winter and warm summer along with frequent rainfall throughout the year. For this reason, the city remains cool in the entire year presenting a very good atmosphere to the

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