Diversifying, Expanding and Cataloguing Your Offering according to Core & Premium Products
Contents
- Defining, Diversifying and Expanding Your Product Offering via Seasons
- Summary Check List
- Diversifying and Expanding Your Product Offering via Communications and Diverse Sales Channels
- Diversifying and Expanding Your Product Offering via Collaborations
- Expanding Your Product Offering in light of Covid-19 via Virtual Experiences
- Diversifying, Expanding and Cataloguing Your Offering according to Themes
- Diversifying, Expanding and Cataloguing Your Offering according to Core & Premium Products
- Defining, Diversifying & Expanding your Business Product Offering - Overview
- Clearly Define Your Product Offering
Contents
- Defining, Diversifying and Expanding Your Product Offering via Seasons
- Summary Check List
- Diversifying and Expanding Your Product Offering via Communications and Diverse Sales Channels
- Diversifying and Expanding Your Product Offering via Collaborations
- Expanding Your Product Offering in light of Covid-19 via Virtual Experiences
- Diversifying, Expanding and Cataloguing Your Offering according to Themes
- Diversifying, Expanding and Cataloguing Your Offering according to Core & Premium Products
- Defining, Diversifying & Expanding your Business Product Offering - Overview
- Clearly Define Your Product Offering
Diversifying, Expanding and Cataloguing Your Offering according to Core & Premium Products
Many tourism businesses and in particular new tourism businesses offer one or two products. As confidence, brand awareness and revenues grow, tourism businesses often strive to create new revenue generation opportunities by expanding their product offering to attract diverse customer segments.
Once a business expands its offering, it must take care to clearly catalogue its diverse products into clear categories. This process enables diverse customers to easily choose what best suits their needs, interests and budgets.
Cataloguing Your Product Offering - Core or General Products
Most tourism businesses offer at least one basic product. This kind of product is often called the core or general product.
In the context of a garden visitor attraction, general products could include
- a self-guided tour
- a one hour guided tour with (for example) a guide who is a horticultural student
In the context of a distillery visitor attraction, a general product could include
- a one hour guided visit with a trained guide, including a tasting of one standard glass of whiskey
In the context of an accommodation provider, a general product could include
- a standard or classic room inclusive of full breakfast, car parking and WiFi
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Note: Core / General Tourism Products Many tourism businesses think of the general product as generating “bread and butter” revenue as these products tend to appeal to the widest audience, sell the most and are set at the lowest priced point of all products offered by the tourism business. |
Cataloguing Your Product Offering - Premium Products
By contrast, premium product offerings for a garden visitor attraction could include
- a private visit of the gardens with expert insights by the resident horticulturalist
- a master class in propagation and hybridisation, with an opportunity to name the plants created
In the context of a distillery visitor attraction, a premium product could include
- a guided visit with the master distiller, including a tasting of three award winning premium whiskeys
In the context of an accommodation provider, a premium product could include
- a master suite with a four-poster bed, inclusive of full breakfast with balcony views of a magnificent coastline
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Note: Premium Tourism Products Many tourism businesses think of the premium product as generating “cream” revenue as these products are positioned at a higher price and appeal to a customer who has a higher budget, or a particular interest in the tourism experience on offer. |