Question

Identify the beach resort product cycle elements?

Answer 1

The are 5 elements in total for a beach resort product :

1) Exploration : In this stage the destination is discovered by few tourists. They make casual arrangements and go to the destination their own realizing the need for an institutionalized stay at the place.
2) Involvement : After the need has been figured, the resources are identified to understand the feasibility of the resort on the discovered place
3) Development : The resort is then developed depending upon the budget and resource available at the dispense. All the other elements related to resort publicity is also take care of in this stage.
4) Consolidation : Resort after having established, achieves the steady source of revenue and becomes cash cow.There is steady flow of guests at the resort as well.
5) Decline : Having achieved the peak, the life cycle moves towards the decline stage where the novelty factor moves away and brand diminishes. The guests number also declines and resort moves down the ladder in terms of revenue and ultimately winds up.