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Product Strategy and Decisions

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Product Strategy and Decisions

  1. 1. z Product Strategy and Decisions Garcia Henche B. (2018). Urban experiential tourism marketing. Journal ofTourism Analysis 25 (1), 2-22
  2. 2. z Framework 1. A definition of Experiential Tourism 2. Analysis of Markets as resource of experiential tourism and communication strategies 3. Use of social media by the markets of Madrid to interact with new experiential consumer Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22
  3. 3. z
  4. 4. z Market s Before: Food Distributors (Traditional Function) Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Now: Spaces that offer leisure experiences
  5. 5. z Qualitative : 1. promotional website ofTourism Department of Madrid 2. DifferentTraditional Food MarketWebsites 3. Respective Social MediaAccounts Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Social Media (Communication tool for clients)
  6. 6. z consists of an immersion of the consumers directly into the product through the senses, triggering feelings, emotions and thoughts that generate in them positive experiences related the product or service. Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Experiential Marketing Literature Review
  7. 7. z Market s Before: Producers are focused on Manufacturing Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Now: Product co-creation between producers and tourists. (Richards, 2016) Literature Review
  8. 8. z Five ways to Promote an experience among consumers Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 1. via sensorial experience (perception) 2. via emotional experience (feel) 3. via physical experience/lifestyle (act) 4. via cognitive and creative experience (think); & 5. via social identity experience (relate) (Schmitt, 1999,2003) Literature Review
  9. 9. z Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 85% of travelers below 35 consider that living a local experience is one of their main reasons in visiting a place (WYSETravel Confederation, 2015) 21st century tourists are known for their refined and sophisticated taste, they tend to choose less exploited tourist products that highlight new and innovative experiences (Castaño, 2015) 52% of Facebook users have stated that their friends' pictures affected their choice in choosing a destination for a holiday trip (Four Pillars Hotel) 66% Young travelers read travel blogs before trip (WYSE Travel Confederation, 2014) Literature Review
  10. 10. z WOM vs. e-WOM Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Traditional communication channels slowly lose effectiveness in favor of new I.T. related communication formats (Nail, 2005) Literature Review
  11. 11. z Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Comments from third parties (users, bloggers, journalists, etc.) are more valued than official information from websites, tourist information offices, brochures, etc. (Huertas 2008; Litvin et al 2008) Literature Review
  12. 12. z NY Strategy Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Town Council of New York (thru NYC and company) Bring tourists from crowded Manhattan to other lesser-known neighborhoods, Queens, Brooklyn, etc.) (Canalis, 2016) Literature Review
  13. 13. z Adaptations of Markets to Tourist and Leisure habits: Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 1. Operating hours in the market are extended for leisure and catering purposes 2. Increase in employment 3. Food markets becoming attractions in the tourist map of Madrid 4. Food tasting, artistic events, cooking workshop, and other experiential activities Results
  14. 14. z Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 There is a relationship between greater use of social media and having better position in trip advisor Same case with markets of San Miguel and San Anton with a very high-ranking position in the "what to do in Madrid" category under trip advisor Results
  15. 15. z Specific Markets Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 • San Ildefonso Markets – weak Facebook, excellentTwitter • San Anton Markets - Updated Facebook page with at least 1 publication per day. Has quick response function 4.44 rating • Anton Martin Markets - make use of Instagram, it also shows geolocation for events Results
  16. 16. z Specific Markets Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 • San Miguel Markets - active in different social media networks, have daily posts (activities for the day), IG - high-quality photos, photos of recent visitors and hashtags • Platea - does not have great number of followers but quote retweets as interaction mechanism and highlighting those mentioning the market • El huerto de Lucas - generates lots of retweets and comments with updated Instagram that reposts photos Results
  17. 17. z Recommendation Public Institution - City Council of Madrid should include contact links of these markets and improve markets' search ability Cultural and business-related - shall work with more incorporation of cultural immersion - Madrid Fusion and Gastrofestival Catering and Commerce (inside market facilities) - shall include more experiential activities "contact with local reality". Garcia Henche B. (2018). Urban experiential tourism marketing. Journal of Tourism Analysis 25 (1), 2-22 Recommendation
  18. 18. z Digital and Online Channels for Tourism Marketing 1. Social Media Facebook,Twitter, Instagram, Snapchat, Pinterest, Linkedin, Google 2. Website – conversion bridges 3. Branded Content – paid and sponsored 4.Travel blogs/vlogs – personal insights 5. Mobile Marketing – 6. Email Marketing – 7. Content aggregators / Booking engines Additional Insights
  19. 19. z Advantages  Cost-related (usually free)  Social interaction (encourages sharing)  Viral nature (wider reach)  Large audience: Facebook 1.5 billion monthly users;Twitter 313M; Instagram 500M; Pinterest 110M;TripAdvisor 390M Additional Insights
  20. 20. z Limitations  Time intensive (requires a significant time investment)  Trademark and copyright issues, privacy and security issues (viruses & malware, brand hijacking, etc.)  User-generated content – can make or break a reputation Additional Insights
  21. 21. z Social Media Scheduling and Appropriation Facebook – 8-15 posts per week Instagram – 5-10 posts per week; 8-16 IG stories per week Twitter – 21-70 tweets per week Linkedin – 8-15 posts per week Pinterest – 35-70 posts per week Additional Insights
  22. 22. z 1. Number of followers 2. Reach (post impressions) 3. Engagement (comments, shares, etc.) 4. Click-through rates (directly impacts SEO) 5. Time spent on the page 6. Acquisition/Conversions (sales, bookings) Additional Insights Metrics for Digital Media Impact

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