Do tourism products have a life cycle?

Yes, but I don't think that's all you want to know. Let me add something for you. Tourism products also have a life cycle of "birth, growth, decline and death" similar to the animals and plants in the tourism market. Tourism operators study the economic life cycle of tourism products. Tourism products, like other products, have a process of emergence, growth, maturity and withdrawal. The economic life cycle of tourism products refers to the whole process of tourism products from entering the tourism market to exiting the tourism market. The economic life cycle of typical tourism products goes through four stages: investment period, growth period, maturity period and decline period.

Tourism products that have just been put on the market are called investment periods. Such as opening new hotels, new tourist routes and new tourist services. When new products are first put on the market, there are generally few competitors of the same kind in the market, even during the investment period of tourism products. The focus of marketing strategy is to improve tourists' understanding and cognition of tourism products, so as to expand the market scene. Tourists' understanding and cognition of tourism products have improved, and the sales of tourism products have increased rapidly during the growth period of tourism products. The key point of this strategy is to increase the depth of the market. After the growth period, with the continuous participation of many competitors, tourism products will enter a mature stage. The focus of marketing strategy is to protect the market scene, maintain the existing market share and open up new markets. At this time, the theme of communication and promotion should be "people are superior" to win by specialty. Tourism products enter a period of decline after experiencing maturity. In the decline of tourism products, the interest of tourism consumers has shifted, and only some nostalgic guests are willing to patronize. Sales dropped sharply, unit costs rose rapidly, profits fell rapidly or even lost money, and competitors in the same industry withdrew from the market. In the period of economic recession, the marketing strategy focuses on shrinking the market scene, and tourism enterprises have several specific marketing strategies to choose from, with the focus on reducing withdrawal losses.

Five factors affecting the economic life cycle of tourism products

(1) Influence of external factors Political and legal factors have great influence on the rise and fall of tourism products.

(2) Influence of internal factors The internal environment of tourism enterprises includes "hardware" and "software". 1. the impact of "hardware" 2. Tourism service is one of the most important "software", and the service quality directly affects the length of the economic life cycle of tourism products.