HOSPITALITYIn the new era of corporate acquisitions, mergers, constant change, in the hospitality and travel industry we need to pay close attention to the fact that the costs are increasing with each year. Like that recently there has appeared a new trend of owning and managing many properties by less corporations and offering less features but for better prices and dates. For instance, hostel industry is blooming now, even though the offered accommodations are pretty modest. When it comes to the dates, it is a very important factor as well. The majority of all the corporate events in the hospitality industry are planned for mid-late winter. The answer to why is easy – the rest of the year they are serving to their clients, summer, fall, spring are all busy seasons for resorts, hotels and restaurants43.EVENTSWhy sponsors are interested in giving their money and/or products to the event? There are some certain incentives for them.
First of all, sponsors are interested in raising their exposure, and consecutively improve their general marketing strategy. These are some of the effective incentives that they are probably look for: media buys, cross-promotion, hospitality events, product sampling, consumer research etc44. NICHE MARKETINGNiche is a very narrow market where the manufacturers achieved getting it right the needs and wants of their target audience and the consumer is excited and glad that he found a product/service so perfect for him. Usually, this product/service is quite exotic and/or very much specified and there are no many competitors on the market, which allows the company, maximize its profits.
Niche market is able to later expand and become a normal market. Shani and Chalasani in their work from 1992 state that frequently in order to establish close and long-term “intimate” relationship with customers, it is better to use niche strategy than a classical segmentation method45.In niche strategy we rethink methodologically each step of classical top-down segmenting (the whole market segment is split into the smaller segments).
In this scenario, we are basing our whole strategy on all the common traits of different consumers and NOT their differences. This way, we can actually identify similar buyers in different segments and expand our niche by means of relationship-based practices. Furthermore, in the case of niche strategy, we do not strive for ex-post modification of the product just to adapt it to each and every even slightly different consumer, on the contrary, we leave it to the clients “to adapt” to our product and not vice versa 46. Gambetti, Biraghi, Shultz and Graffigna in 2013 described CBE as an integral part of Consumer came up with the following table to describe Consumer Brand Engagement as client-agency battlefield for the semantic and lexicographic perspective.