This paper proposes a new qualitative strategic market portfolio analysis model for the tourism industry that depicts the complex inter-relationship between a destination and the many markets it serves. The Destination-Market Matrix (DMM) is a descriptive 2x2 matrix that depicts six key market factors in a conceptually simple, yet highly descriptive manner. Portfolio analysis is a powerful strategic marketing tool, but no current portfolio analysis model specifically addresses the unique needs of the tourism industry. Existing models adopt a product specific focus which, for a number of reasons discussed in this paper, have little utility in real life tourism marketing situations. Tourism’s needs instead are best suited by adopting a market focus. By analysing the contents of the matrix, called a NEST analysis, powerful insights can be gained into the current health of a destination area and its future strategic marketing needs.
ASJC Scopus subject areas
- Tourism, Leisure and Hospitality Management