Niche market
Niche marketing is a concept that engages a specific target market; youth from 18 to 30 is a specific market segment. Appealing to this niche market varies depending on many factors: available activities, affordability, location, benefits, and popularity. The younger generation is a continuously growing market that has huge potential to integrate with the hospitality industry. It is apparent when observing how the hospitality industry focuses on appealing to the younger generation that this is an increasingly growing market segment. Through hotels, events, nightclubs, and restaurants we can see how youth is so applicable to the hospitality industry. Considering that the recent “trends” revolve around today’s youth we can assume that many businesses that are growing in hospitality will try to relate their goals to attract the younger generation. In general 18 to 30 year olds that go out will typically enjoy socializing. Through this nature, these people will generate a growing interest in social activities. We observe how the youth of today will travel, interact, and involve themselves with society. The hospitality industry coordinates with many different aspects of the world we live in. Looking at the dynamic aspect of this business it is clear that there are many avenues that the youth market ranging from 18 to 30” can be pursued. It is quite apparent how the hospitality industry adapts so it can appeal to the youth market. Many elements of this business formulate ways to accommodate to the needs of the younger generation ranging from ages 18-30. Hotel chains like Twenty five hours hotels in Germany set their target market at a younger demographic. Through the concepts that this chain stands behind such as, "Offering guests a contemporary hotel experience in individual, design oriented boutique hotels,"(Twenty five hours hotels, 2012). This mission statement allows potential guests to understand that the element of design and trends is a huge segment of
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