Marketing in Hospitality
Governments and regulatory bodies need to find a way to increase support for careers, and need more funding’s in order to look after historical landmarks. Currently the organization does not seem to be high priority for government today (only spend 13% of that is spent on the maintenance of these properties). The increasing amount of property rates and low funding’s resulting in the formation of a hurdle in purchasing several properties. The population is aging at a very fast pace, and the pressure is increasing since the amount of funding’s from the government is very low.
Global recession that has struck all the industries has also had a huge impact on the performance of National Trust. This will have a huge impact on the donations as people will cut back their donations due to low income. Consumer confidence has hit rock bottom, difficult times ahead as potential for unemployment is going to increase. The price of equipment’s has also been increasing, equipment’s essential for looking after and maintaining the condition of the old houses. Thus, all of these factors have raised some serious concerns for the National Trust.
People today understand the need to give, increasing popularity of cause related marketing increasingly popular. Ageing population; older people living longer, divorce rates high so more single households this will result in less careers and puts more pressure on the older individuals. Greater interest in environmental issues, ethical trading, reputation of companies and organizations, amounts bequeathed in wills to rise fourfold between 2010-2050 though may be used to fund properties. It would be beneficial if National Trust includes data on social attitudes of the people and demographics to generate future trends.
A critical factor while keeping the organization in consideration would be the technological factors that have a huge on the fundraising techniques of the non-profit sector. Developments in the field web technology, and automated bank payments all fall under this category. With the advancement of technologies organizations like National Trust can implement sophisticated database marketing techniques for efficient management of their customer and funds database, more and more activity on internet and people willing to donate on line.
Introduction of new legislation might prove to be problematic for National Trust. It could result in the creation of new administrative burdens. Company might have to face some legal restriction in case the organization fails to comply with the legislation. Legal action might be taken against the organization.
With the rapid changes in the environment company might have to face some challenges in generating funds from its current market segment. Thus, the organization might have to look for some new market segments, there is a growing need for organizations like National Trust to target environmentally aware and cause related target segments