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Target Market Analysis
Overview of Key Visitors to Barbados:
Demographics:
Geographical Origin
Gender: Male and Female
North America: United States and Canada.
Europe: The United Kingdom is a primary source of tourists, along with countries such as Germany and France.
Caribbean: Regional visitors frequently come from neighboring Caribbean islands. (Target based on airlift to include Trinidad, St. Lucia, Grenada, Puerto Rico) May also include connections from the BVI, USVI and St. Martin via the San Juan emerging hub)
Other Regions: Smaller numbers of tourists arrive from South America, Asia, and Africa.
Age Groups
Young Adults (18-35): This group includes singles, couples, and groups of friends.
Young urban and suburban (25-35): Interested in technology and adventurous activities
Middle-aged Adults (36-55): Often comprising families with children or couples.
Honeymooners (25-45): Interested in romance and new experiences
Brides (25-60): Destination wedding planning, magical experience, fun, culture, vows renewal.
Seniors (55+): Typically retirees and older adults, often seeking a relaxing vacation. This has been the predominant group based on cost. Rihana in part has been responsible for a shifting demographic interest.
Boomers (45-65): Interested in casual sophistication and personal activities, disconnect, enjoy.
Retirees (55+) – Looking for calm and relaxation, enriching experiences.
Income Levels
High-income Individuals: Tend to stay in luxury resorts and engage in high-end activities.
Middle-income Travelers: Prefer mid-range accommodations and participate in a variety of activities.
Budget Travelers: Opt for more affordable lodging and local experiences.
Psychographics
Interests:
Adventure – Looking to explore natural attractions like Harrison Caves, Andromeda Botanic Garden, watersports, etc.
Looking for relaxation – Spa packages, wellness retreats.
Culture enthusiasts – Interested in cultural experiences, historical sites, festivals, etc.
Gastronomy enthusiasts – Those looking to explore the local cuisine, new tastes, culinary tours, etc.
Key motivations for traveling to Barbados
Leisure:
Barbados beaches and warm climate are the major attractions for tourism.
Sports tourism: Snorkeling, diving, surfing, Cricket, sailing (regatta)
Wellness: Many visitors are looking forward to a serene environment where they can relax and disconnect. Wellness retreats, Spa treatments, etc are the major attractions.
Business
Conferences and meetings
Weddings and Honeymoons:
Destination weddings: Many couples seek to host their destination weddings in Barbados, attracted by its stunning landscapes and rich cultural experiences. For WGB, leveraging the historic charm of the property, especially with the castle and its breathtaking views, is a significant selling point for an exclusive wedding package. This unique setting offers a picturesque backdrop and a romantic ambiance, making it an ideal location for unforgettable weddings.
Culinary Tourism
Experiencing local cuisine.
Attending local culinary festivals like the Barbados Food and Rum Festival.
Local Events
Festivals: Crop Over, Food & Rum Festival, Agrofest, Oistins Fish Festival, Holetown Festival, Sandy Lane Gold Cup, Reggae Festival, Run Barbados, Rally Barbados, Barbados Golf Festival, Barbados Hockey Festival, etc.
Eco-Tourism
Interested in visiting natural attractions in Barbados (Harrison’s Cave, Botanical Garden, wildlife reserve, etc.
Travel and Booking Patterns:
Analysis of booking windows, lead times, and booking channels (direct vs. OTAs).
Preferred travel times and durations of stay.
Seasonal Airlift Understanding:
Detailed review of flight availability and frequency from North America, the Caribbean, and Latin America.
Impact of seasonal changes on airlift and visitor numbers.
Opportunities for partnerships with airlines to boost off-season travel.
Competitive Analysis:
Main competitors: St. Lucia, St. Maarten, Aruba
SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) for Wyndham relative to competitors.
Target Consumer for Wyndham:
Profiles of primary, secondary, and tertiary target audiences.
Preferences and behaviors of Wyndham’s ideal customer segments.
Key Points Defining the Strategy:
Emphasis on customer experience and satisfaction.
Leveraging digital transformation and data-driven decision-making.
Building strong partnerships (e.g., with airlines, travel agents).
Commercial strategy and goal alignment.
Rationale Behind the Strategy:
Justification of strategic choices based on market research and business goals.
Alignment with Wyndham’s brand values and market positioning.
Team Responsibilities:
Clear allocation of roles and responsibilities within the marketing team.
Collaboration with external agencies and partners.
Collaboration Framework:
Processes for coordination and communication between teams.
Regular meetings and reporting structures.
Key Performance Indicators map
Shared performance and KPI map for internal and external teams.
Outlining Milestones and key achievements.
VI. Marketing Budget Allocation
Budget Segmentation:
Allocation of funds across different marketing channels and campaigns.
Percentage breakdown for digital, offline, partnerships, etc.
Alignment with Business Goals:
Short-term and long-term budget considerations.
ROI analysis and adjustments based on performance metrics.
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