Sample interview questions: How do you assess the potential of new tourism products or services?
Sample answer:
How do you assess the potential of new tourism products or services?
1. Market Research:
- Conduct comprehensive surveys and focus groups to gather insights on consumer preferences, needs, and expectations.
- Analyze industry trends, competitive landscape, and travel behavior to identify market opportunities and gaps.
2. Feasibility Analysis:
- Evaluate the product/service concept in terms of its novelty, scalability, profitability, and sustainability.
- Assess the target market size, potential demand, and competition.
- Consider the resources, infrastructure, and logistics required to launch and operate the product/service.
3. Customer Value Proposition:
- Define the unique value the product/service offers to potential customers.
- Identify the key benefits, features, and experiences that will differentiate it from competitors.
- Ensure the product/service aligns with the target market’s preferences and motivations.
4. Financial Projections:
- Develop detailed financial models to forecast revenue, costs, and profitability.
- Consider potential revenue streams, operating expenses, and investment requirements.
- Conduct sensitivity analysis to assess the impact of various factors on financial performance… Read full answer
Source: https://hireabo.com/job/11_1_13/Tourism%20Research%20Analyst