Principles in Marketing Business & Marketing Essay (Essay Sample)
North Americans feel better about hotels than ever. The goodwill is unlikely to last: Future reservations (2016, July 18). The Economist.
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Based on the article and this unit's other reading assignments, examine how value proposition in the hotel industry has evolved to change guest behavior across generations. Provide examples that support your analysis.
Your essay must include an introduction, be at least three pages in length, and be double-spaced, not counting the title and reference pages. All sources used, including the article, must be referenced; paraphrased and quoted material must have accompanying APA citations.
Principles in Marketing
Principles in Marketing
Value proposition involves the process of convincing potential customers on the benefits of doing business with a particular organization. Businesses must show how they plan to offer high-quality products and services to clients compared to the competition. Highly competitive industries thus must innovate to overcome others in the industry, thus attract more customers. The hotel industry involves highly competitive chains and small hotels that all aim at attracting more potential clients to use their services. Therefore, the value proposition in this industry must align with the needs of the potential clients, especially with the changing generational behaviors.
Earlier generations, such as baby boomers and generation X, grew up in an industry with minimal technological innovations. As a result, their requirements mainly lay in the ability of the hotels to offer exceptional services at cost-efficient prices. Furthermore, such individuals also have preplanned activities throughout the year that enable them to plan their activities adequately. As a result, hotels could offer well-tailored holiday packages to lure such clients at different times of the year. Consequently, with these older generations becoming less active, their participation in traveling reduces, thus offering little returns for the hotel industry.
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