Travel Trends 2019 | Smarter Travel

Httpswwwsmartertravelcomtrafalgar 2019 Travel Trendsquestion 1

Question 1 – Market Research Explain the vital relationship between research, information, and decision-making. Give several examples of a lodging manager’s need for research. Why is market research so indispensable? Discussion Question 2 – Travel Research Process What is the basic concept behind the nine (9) steps in the travel research process. Differentiate primary and secondary data. Which would you seek first? Why? What are some of the important criteria used to evaluate the usefulness of the secondary data? Where do you start looking for these? Discussion Question 3 – Increase Demand In various ways, how is demand to an existing hotel increased? To a destination? To a mode of public transportation? Discussion Question 4 – Demand and Market Segmentation Describe the relationships between demand and market segmentation. What is meant by “target markets?†How do you identify these? Give some examples. Discussion Question 5 – Psychographic Market Orientation What is meant by psychographic market orientation? How might this be used in the tourism industry? Discussion Question 6 – Future of Tourism Where do you see tourism moving in the future? Do you see sites like Expedia will be how we book travel, or will new approaches emerge? What other trends do you see developing? Discussion Question 7 – Economic Recession Give some reasons why tourism is not significantly reduced during periods of economic recession. Are there certain types that are affected? If so, why?

Paper For Above instruction

Understanding the intricate relationship between market research, information, and decision-making is fundamental in the tourism and hospitality industry. Market research provides the crucial data needed to guide managerial decisions, reduce uncertainty, and develop competitive strategies. This relationship hinges on the premise that informed decisions stem from accurate, timely information derived through systematic research. For example, a lodging manager relies on market research to determine optimal pricing strategies, identify target demographics, analyze competitors, and assess customer preferences. Such research enables the hotel to tailor its marketing, service offerings, and operational strategies effectively, ensuring profitability and customer satisfaction.

Market research is indispensable because it minimizes risks associated with business decisions, identifies market opportunities, and enhances understanding of consumer behaviors. Accurate research can reveal trends in traveler preferences, seasonal fluctuations, and emerging markets, which are critical for strategic planning. Without systematic research, managers risk making decisions based on assumptions, which can lead to missed opportunities or costly errors. Moreover, market research supports innovation in product and service development and assists in evaluating the effectiveness of marketing campaigns, all of which contribute to gaining a competitive edge.

The travel research process typically encompasses nine key steps, starting with defining the research problem and objectives, progressing through designing the research plan, collecting data, analyzing results, and finally, making informed decisions. This systematic approach ensures that insights are accurate and relevant. Primary data is directly collected by the researcher, through surveys, interviews, or observation, providing specific insights into a current issue. Secondary data, on the other hand, is gathered from pre-existing sources such as industry reports, government publications, or online databases. When conducting research, primary data should be sought first as it offers tailored, current insights specific to the research problem. Secondary data is valuable for initial understanding and context but may not always be entirely aligned with the specific questions at hand.

To evaluate secondary data’s usefulness, criteria such as accuracy, credibility, timeliness, and relevance are essential. Data must be current, from reliable sources, and appropriate for the research context. Sources can include government tourism statistics, industry associations’ reports, academic publications, and reputable online databases like Statista or WTO statistics. Starting with secondary data helps to form a foundation of existing knowledge, which can then be supplemented with primary research for detailed, specific insights.

Increasing demand for a hotel can be achieved through various strategies such as enhancing marketing efforts, offering promotions, or improving service quality. Destinations can boost demand by promoting unique attractions, hosting events, or improving accessibility. Public transportation demand can be increased via infrastructure investments, marketing campaigns, or incentives for usage. For example, a city might develop a robust tourism marketing campaign highlighting local events or cultural festivals to attract visitors. Similarly, airlines might offer discounted fares or loyalty programs to stimulate demand for certain routes or travel periods.

Demand and market segmentation are interconnected; understanding demand patterns allows marketers to identify distinct groups within the market that share similar needs and behaviors—target markets. Target markets are specific segments that a company aims to serve effectively. For example, a luxury resort may target high-income honeymooners, while a family-friendly hotel centers on family vacationers. Identifying these segments involves analyzing demographic, geographic, psychographic, and behavioral data to tailor marketing strategies that appeal to each group’s preferences and needs.

Psychographic market orientation focuses on understanding consumers’ lifestyles, personalities, values, and interests. In the tourism industry, this approach helps businesses craft personalized experiences and marketing messages that resonate with specific customer segments. For instance, adventure travelers seeking thrill and outdoor activities or eco-conscious tourists interested in sustainable travel options. Leveraging psychographic data enables tourism providers to develop targeted offerings, enhance customer satisfaction, and foster brand loyalty, ultimately differentiating their services in a competitive marketplace.

The future of tourism appears to be driven by technological advancements, evolving traveler preferences, and sustainable practices. Digital booking platforms like Expedia will continue to evolve, integrating artificial intelligence and virtual reality to enhance user experience. Emerging trends include personalized travel recommendations, sustainable tourism initiatives, and the growth of experiential travel. Moreover, alternative accommodation options such as home-sharing platforms and boutique hotels are gaining popularity. The industry might also see increased use of blockchain technology for secure transactions and transparent bookings, reshaping how consumers plan and purchase travel services.

During economic recessions, tourism often shows resilience due to the diverse nature of travel activities. Leisure travel, particularly budget or last-minute trips, tends to decline less than business or luxury travel. Reasons include the availability of affordable travel options, the pursuit of affordable leisure activities, and the need for escapism during tough economic times. However, certain segments, such as luxury tourism or international travel, are more affected due to higher costs and discretionary spending limitations. In contrast, domestic and short-haul leisure trips may remain relatively stable or even increase as travelers seek cost-effective options closer to home.

References

• Baum, T., & Alvarez, M. (2015). Market research and consumer behavior in tourism. Journal of Tourism Management, 45, 12-23.
• Crouch, G., & Ritchie, J. R. B. (1999). Tourism, Competitiveness, and Societal Prosperity. Journal of Travel Research, 37(1), 1-12.
• Frechtling, D. (2006). Methods for Developing and Evaluating Tourism Products. University of Massachusetts.
• Kotler, P., Bowen, J. T., & Makens, J. (2016). Marketing for Hospitality and Tourism. Pearson Education.
• Porter, M. E. (1985). Competitive Advantage. Free Press.
• Ryan, C. (2020). Tourism: Concepts and Practices. Routledge.
• Statista. (2023). Travel and Tourism Statistics. https://www.statista.com
• Weiermair, K., & Fuchs, M. (2001). Integration of experiential and hedonic attributes into destination marketing. Tourism Review, 56(3), 24-33.
• World Tourism Organization. (2022). Global Tourism Trends. UNWTO Publications.
• Yoon, Y., & Uysal, M. (2005). An examination of the effects of motivation and satisfaction on destination loyalty. Tourism Management, 26(1), 45-56.