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Diversification Additionally, many large leisure and tourism companies choose to DIVERSIFY - Spread their investment (portfolio) across a wide range of sectors Often transnational and international companies Allied Leisure, Granada, Ladbroke, Rank Interests in hotels and catering, brewing, gambling, entertainment, attraction management, and media interests * 第三十页,共四十四页。 Advantages of Diversificationin Leisure and Tourism investment Spreads risks in a volatile market Maximises profit, allows rapid growth, increased market share Limited barriers to entry Perceptions of growth Counter-balance to seasonality Perceptions of enjoyable sector - attractive to investors * 第三十一页,共四十四页。 * * LT1001NThe Leisure and Tourism Environment Lecture 5 Producers and Consumers * 第一页,共四十四页。 Lecture Content The commercial sector in leisure and tourism The commodification of leisure – ‘the leisure product’ Commercial partnerships: leisure, retail, hospitality and entertainment Home-based and virtual leisure Leisure as consumption * 第二页,共四十四页。 Characteristics Requires mass participation Caters for popular mass activities rather than specialisms Market driven Highly competitive Requires profit and growth for survival Creates additional demand through marketing strategies * 第三页,共四十四页。 Characteristics Growth stimulated by mass media (press and television) Emphasis on customer sovereignty Exploits ‘willingness to pay’ - determines pricing strategy Focus on passive consumption activities High volume, high cost, high throughput * 第四页,共四十四页。 Characteristics Some providers monothematic But most now tend to be involved in more than one leisure activity Commercial sector leisure corporations First Leisure Rank Leisure Leisure parks and plazas Often located on margins of cities (Evans – ‘the new leisure periphery’) * 第五页,共四十四页。 Characteristics - ‘consumption’ Commercial sector increasingly markets leisure and tourism as ‘consumable products’ Postmodern thinking Reflects contemporary l
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