Social marketing: building brand value and influence in the UK tourism industry to sustain brand consumption in the current economic recession
1.0 Chapter one: introduction
The current economic recession that began in June 2008 and intensified in 2009 had an effect of decreasing international tourism which was also augmented by outbreak of AH1N1 flu virus in 2009 which resulted into restriction of international travel. The tourism sector suffered economic downturn due to decrease in international tourism receipts hence decreased opportunities for sustained employment. Sustainability of the tourism industry depends on ability to exploit the economic recession challenges into a competitive advantage which will see the tourism industry sustaining and increasing her market share in the economically sensitive climate to economic, regulatory, safety, environmental and external influences. The tourism industry can gain competitive advantage in the economic recession by focusing on controllable elements in their marketing plans and strategies. The restructuring of tourism industry marketing plans to meet the sensitive economic climate brought about by economic recession should be a product of understanding influential aspects that consumers have adopted to redefine value and respond to the economic recession. Tourism industry should apportion more money in marketing in order to continue communicating to customers hence enhancing customer relationships. Tourism industries that increase their marketing and advertising during economic recession improve their market positioning and returns on investment.
1.2 Statement of the problem
The current economic recession resulted into decrease in demand for tourism industry services. Many hospitality and tourism industries, travel agencies and foreign language translation agencies failed in the current economic recession. For instance, major airlines had to reduce routes, and number of flights to markets that they initially dominated in order to serve the decreased number of customers in their customer segments. Some of the hospitality and tourism based industries failed to pursue their innovative strategies and provision of premium services due to decreased returns on investment. The tourism industries have adopted strategies for sustaining market share that don’t conform to consumers perspectives on value, satisfaction and experience. The future of the tourism industry in the current economic recession lies in the organizations that have capability to innovate, build strong brand, improve customer value offering and build influence by engaging communities around its brands. Behavioral economists affirm that marketing gains value due to information cascading in social networks and social marketing. The power of...