Hummingbird Resort is a luxury resort located along the Placencia peninsula featuring twenty air conditioned rooms, five spacious apartments, a conference room, business center, tour desk free high speed wireless internet connection, cable television with over a hundred and twenty channels, spa, salon, bar, restaurant, laundry services, gym, swimming pool and beachfront access overlooking the Caribbean Sea. Hummingbird Resort has six cement two flats structures with one building which houses the restaurant and bar with an open air balcony catering to who loves the natural atmosphere as they dine.
The value proposition offered by Hummingbird Resort is a luxury experience while offering value added services (such as tours, and personal masseuse) in a safe family setting. The target market is high end as rooms go for at a minimum USD $650 nightly while apartments USD $1,000. Hummingbird Resort’s competitive set includes three resorts in the immediate geographic area. The occupancy rates [room nights used as a percentage of room nights available] in these facilities are not significantly affected by factors such as seasonality. Patrons of these establishments fall in the upper income brackets and thus have the disposable income to travel at their leisure, even if they opt to do so only for a day.
Marketing’s function is simple, stimulate demand! As a marketing officer my objective is to attract customers to our product, generate the interest for them to want to know more about our product and its benefits, create the desire for them to consume the product and finally have them take action and purchase the product (AIDA). This is employed at every level in the product life cycle (PLC), but particularly in the introduction and decline stages.
Demand or consumption, varies dependent on the stage of the product life cycle. The product life cycle is a concept that describes the sales and profit margins of a given product category over a period of time….