Essay About Barbados Marketing Case And Loss Of Market Share

Barbados Marketing Case
1.0 INTRODUCTION
Barbados is one of most well developed and politically stable islands in the Caribbean.
The island attracts more than a million visitors a year (Visit Barbados, 2008). Thus,
tourism sector has become the major industry and a fundamental part of the economy
(Government of Barbados, 2007). However, Barbados is experiencing difficulties in its
marketing strategies particularly caused by the loss of market share. The aim of this
report is to provide an analysis of the case study; the marketing of “Little England”.
Firstly, the report will examine the current situation and the position of the island in the
marketplace. Secondly, the target market and current marketing strategies will be
reviewed. Subsequently, the report will assess and identify the SWOT analysis. Finally,
strategic recommendations will be suggested to support the future growth of the island.
2.0 CURRENT SITUATION
The key problem that Barbados is currently facing is mainly the flagging of its position in
the market due to the lack of recognition and strong competition (Jebodhsingh, 2007). As
mentioned by Barbados Travel (2005), tourists choose to visit other destinations such as
the Bahamas and Lesser Antilles rather than Barbados as these islands provide better
values to visitors and shorter travelling time. Thus, Barbados amended to recapture its
loss market by offering a well-rounded product to attract visitors from different groups.
The Barbados Tourism Authority (BTA) also initiated a new advertising campaign in the
United States and attempted to enter the South American market but this plan was
unsuccessful due to the deficiency of air services (Barbados Freepress, 2006).
3.0 EVALUATION OF BARBADOS ISLAND
3.1 TARGET MARKET
The primary market for Barbados in the past was the upper-income market as the
island had positioned itself as an elite destination. According to the decreasing
number of travellers in recent years (Appendix 1), Barbados has shifted to target
visitors in three categories; budget, mid-range,