How would YOU market timeshare these days?
“Timeshare” first attacked Australia in the Gold Coast, around the time that Financial Advisors also first appeared, along with mobile phones.
Mobile phones took off. Financial advisors went through a slow adoption… and then took off.
Timeshare has floundered… with still less than 0.5% of households owning timeshare.
Timeshare is an unsought good…one that is not actively sought out by a consumer, but is instead purchased due to fear, precaution, need, or cognitive rationalisation.
In order for a product’s status to change from ‘unsought’, the market must be educated about its features and benefits and how it meets her needs. If perceptions are already in place, understanding and interaction at the belief, attitude and value level must be established to ‘manage’ these perceptions positively. Strongly influential in this process is the multi-stage mass communication model, and the power of group opinion leaders.
The marketer MUST embrace scientific brand equity management techniques, or ignore these at their own peril, as strong brands with good reputations have 31% better total return to shareholders than the global average.
If YOU were CMO of a timeshare organisation, what would YOU do to market timeshare?