Methodology for forecasting revenues from the sale of innovative products in the domestic tourism market

• Authors: Liudmyla Shulhina

Abstracts

EN

This article presents a methodology for forecasting the expected sales of innovative tourism products in the domestic market. The principles of the product life cycle concept and consumer behavior theory are taken as starting points for calculating the sales volumes of an innovative product as well as the rate of its penetration into the market. A method of measuring the level of consumer commitment to a travel agency and its offerings is posited, and the relationship between the structure of the target market and market activity in purchasing tourist products is demonstrated. Deep market segmentation is applied to take into account the behavioral peculiarities of individual subsegments (Loyalists Market, Sympathizers Market, Qualified Market, Finders Market, Serviced Market, Possible Market, Potential Consumers Market, Perspective Market). Formulas are proposed for calculating the volume of each of the identified markets. An improved and adapted model for the tourist market (by E. Rogers and F. Bass) is used to calculate the diffusion rates of domestic tourist products. This methodology of forecasting the expected sales of innovative tourism products in the domestic market is empirically confirmed based on data on the domestic tourism market in the region of Vinnytsiya, Ukraine.

Keywords

EN

innovative products; tourism market product life cycle concept; consumer behavior theory; market subsegments; diffusion rate; Rogers and Bass model

• Publisher: Sieć Badawcza Łukasiewicz - Instytut Lotnictwa
• Journal: Marketing Instytucji Naukowych i Badawczych
• Year: 2021
• Volume: 41
• Issue: 3
• Pages: 95-114

Dates

published

2021

Contributors

author

Liudmyla Shulhina

• University of Finance and Law Czesława Tańskiego Street 5, 43-382 Bielsko-Biała, Poland

• https://orcid.org/0000000195546185

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Identifiers

DOI

10.2478/minib-2021-0016

Biblioteka Nauki

11056136