This report deals with the analysis of the Best Ager market for the tourism industry. It first presents the several segmentation methods in the theoretical part and defines the term Best Ager. Then proposals for segmenting the Best Ager market are given. The best methods are developed by the two agencies Grey and TNS Emnid. They use methods which combine lifestyle variables with demographic variables which is most suitable for segmenting the Best Ager market. A tour operator can either stick to these proposals or segment the market with primary research data on itself if it has the necessary financial resources to do so.
After the proposals for segmenting the Best Ager market, the travel market is analysed .First the general trends are mentioned and then the trends for the Best Agers are analysed to investigate if the Best Ager market has a potential for the tourism industry in the future.
Additionally the demographic development in Germany and the financial situation of the Best Agers is analysed to display if the market will grow in the future and if the Best Agers have the income and assets to afford traveling in the future.
The Best Ager market will increase in the future due to decreasing birth rates and longer life expectancies. The financial situation at the moment is quite promising because the pensions are still high and the inherited money is likely to increase in the future due to savings of the past generations.
The Best Agers today like to travel and an increase in traveling, especially in trips abroad, city trips, air travels and packaged holidays is expected in the future. The travel propensity for the over 60 year’s olds lies at about 68%.
The preferred holiday forms of the Best Agers are cruises and study trips. The most popular holiday destination is Spain and it is likely to increase in the future. Many Best Agers also like to stay longer in the warmer regions especially in the winter months.
This has already been recognized by the tour operators but still can be improved and the offers can be more extended.
Best Agers in comparison to other target groups have a high focus on quality and price/quality ratios have to be therefore of an accepted standard. Best Agers like good food and also try the specialties of the different countries or regions, the hotels have to recognize this important fact. [...]
Table of Contents
- 1. Introduction
- 2. Problem definition
- 3. Definition of Best Agers
- 4. Segmentation of Best Agers
- 4.1 Theoretical background for market segmentation
- 4.11 Geographic segmentation
- 4.12 Demographic segmentation
- 4.13 Psychographic segmentation
- 4.14 Behavioural segmentation
- 4.2 Proposals for segmenting the Best Ager market
- 4.3 Conclusion
- 4.1 Theoretical background for market segmentation
- 5. Analysis of the Best Ager market
- 5.1 Demographic development
- 5.2 Financial situation of the Best Agers
- 6. Free-time activities of the Best Agers
- 6.1 Health and sports
- 6.2 Travelling
- 6.21 Frequency of travelling
- 6.22 Kind of travelling
- 6.23 Means of travel
- 6.24 Types of accommodation
- 6.26 Motives of the Best Agers for travelling
- 6.27 Internet use
- 7. Conclusion
Objectives and Key Themes
This report analyzes the "Best Ager" market's potential for the tourism industry. It aims to define the Best Ager segment, explore suitable segmentation methods, and assess the market's future growth based on demographic trends and financial factors. The report also investigates the travel behaviors and preferences of Best Agers.
- Defining the "Best Ager" market segment and its characteristics.
- Evaluating effective segmentation strategies for the Best Ager travel market.
- Analyzing the demographic and financial trends affecting the Best Ager market.
- Exploring the travel preferences and behaviors of Best Agers.
- Assessing the potential for growth within the Best Ager tourism market.
Chapter Summaries
1. Introduction: This chapter likely introduces the topic of analyzing the Best Ager market for the tourism industry, setting the stage for the subsequent investigation of segmentation strategies, market analysis, and future potential. It probably provides a brief overview of the report's structure and methodology.
2. Problem definition: This chapter precisely defines the research problem—likely the need for a better understanding of the Best Ager market to effectively target this demographic for tourism services. It sets the context for the subsequent analysis by highlighting the gap in current knowledge or the challenges faced by the tourism industry in catering to this specific market segment.
3. Definition of Best Agers: This chapter provides a clear definition of the term "Best Ager," clarifying the age range, demographic characteristics, and lifestyle factors that define this particular market segment. It likely distinguishes "Best Agers" from other age groups, highlighting the unique aspects that make them a distinct target market for tourism operators.
4. Segmentation of Best Agers: This chapter explores various market segmentation methods (geographic, demographic, psychographic, and behavioral) applicable to the Best Ager market. It likely evaluates the strengths and weaknesses of each method and proposes the most suitable approach for segmenting this group effectively for targeted marketing and service delivery within the tourism sector. The chapter may discuss the Grey and TNS Emnid agency methods.
5. Analysis of the Best Ager market: This chapter analyzes the demographic development and financial situation of Best Agers in Germany (or the relevant region). It likely examines trends in population aging, life expectancy, pension levels, and inheritance to project the potential growth and spending power of this market segment in the tourism industry. It connects these demographic and financial trends to the market's potential for future growth.
6. Free-time activities of the Best Agers: This chapter delves into the leisure activities of Best Agers, with a primary focus on their travel habits. It likely examines the frequency, types, and modes of travel, preferred destinations, accommodation choices, and motivations for travel. The chapter probably explores the role of the internet in their travel planning and booking processes, analyzing how this affects the tourism industry’s approach to reaching this market.
Keywords
Best Ager market, tourism, market segmentation, demographic trends, financial situation, travel behavior, travel preferences, Germany, market analysis, tourism industry, Grey, TNS Emnid.
Frequently Asked Questions: Best Ager Market Analysis for the Tourism Industry
What is the main topic of this report?
This report comprehensively analyzes the "Best Ager" market's potential within the tourism industry. It aims to define this segment, explore effective segmentation strategies, and assess future market growth based on demographic and financial factors. The report also investigates the travel behaviors and preferences of Best Agers.
What are the key objectives of this study?
The key objectives include defining the "Best Ager" market segment, evaluating effective segmentation strategies for this market, analyzing demographic and financial trends affecting it, exploring Best Agers' travel preferences and behaviors, and assessing the potential for growth within the Best Ager tourism market.
How is the "Best Ager" market segment defined?
The report provides a precise definition of "Best Ager," specifying the age range, demographic characteristics, and lifestyle factors that define this market segment. It distinguishes Best Agers from other age groups, highlighting their unique characteristics relevant to tourism.
What segmentation methods are explored in the report?
The report explores various market segmentation methods, including geographic, demographic, psychographic, and behavioral segmentation, to determine the most effective approach for targeting Best Agers within the tourism sector. The analysis may include discussion of methods used by agencies like Grey and TNS Emnid.
What demographic and financial trends are analyzed?
The report analyzes the demographic development and financial situation of Best Agers, examining trends in population aging, life expectancy, pension levels, and inheritance. This analysis aims to project the potential growth and spending power of this market segment within the tourism industry.
What aspects of Best Agers' travel behavior are investigated?
The report delves into Best Agers' free-time activities, particularly their travel habits. It examines the frequency, types, and modes of travel, preferred destinations, accommodation choices, motivations for travel, and the role of the internet in their travel planning and booking.
What is the overall structure of the report?
The report is structured with chapters covering an introduction, problem definition, definition of Best Agers, segmentation of Best Agers, analysis of the Best Ager market, free-time activities of Best Agers (with a focus on travel), and a concluding chapter. A table of contents provides a detailed breakdown of the report's sections.
What are the key takeaways or conclusions of the report?
The report concludes by summarizing the findings of the analysis, providing insights into the characteristics and travel behavior of Best Agers, and assessing the market's potential for growth within the tourism industry. Specific conclusions will depend on the data analyzed in the full report.
What keywords are associated with this report?
Key words include: Best Ager market, tourism, market segmentation, demographic trends, financial situation, travel behavior, travel preferences, Germany (or relevant region), market analysis, tourism industry, Grey, TNS Emnid.
- Quote paper
- linda woog (Author), 2007, Analysis of the Best Ager market for the tourism industry, Munich, GRIN Verlag, https://www.grin.com/document/125131
