New Marketing Management Paradigms: Facing Leading Consumer Trends and Their Repercussions for the Tourism Industry

Abstract

Purpose. The paper seeks to formulate the leading contemporary market trends and their repercussions for a future marketing paradigm.

Method. A structured mind-mapping technique, STEEP analysis matrix and the roundtable discussion were used during the workshops with tourism industries representatives, academia teachers and new media specialists. Through an intuitive-logical process, leading trends in the future of tourism were explored.

Findings. The paper outlines key (consumer) trends in the global market and identifies their influence on tourism. As a result, two marketing model options were formulated. Research and conclusion limitations. The results of the analysis should be discussed further, as the change in marketing paradigm is just one of many possible repercussions of contemporary trends. The diversity of challenges introduced by new trends and new media emergence need special attention, due to multivariate changes it may produce on the demand and supply sides of tourism market. The tourism industry faces a set of interdependent circumstances that need to be monitored and analyzed using different future scenarios.

Practical implications. This paper will be of immense value to researchers and industry leaders, and even more so since the team of the STEEP analysis contributors covered the representatives of five tourism associations, new technology industry leaders, academia teachers, and consulting firms’ representatives.

Originality. The paper contributes to the knowledge of tourism policy planners and managers. It helps to recognize, consider, and reflect uncertainties they are likely to face. The work is also valuable for the international tourism foresight community by discussing the leading trends and influencing their marketing options.

Type of paper. Research paper

Keywords: consumer trends, hospitality management, marketing paradigm, post-modern marketing

JEL Classification: M31, L83