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Demand for leisure: desire backed up by ability & willingness to pay…
Demand for leisure: desire backed up by ability & willingness to pay for product that is desired
5 types:
effective/expressed/actual demand: ACTUAL no. of participant
most common, easily measured
Latent/suppressed demand
unfulfilled demand
may become effective demand in future if conditions change(eg. health condition change)
help increase deferred & potential demand
Deferred demand: unfulfilled demand due to lack of facilities
Potential demand: unfulfilled demand due to lack of personal resources(eg. income)
can also be fulfilled if condition change(eg. pay rise)
No demand: peep dont desire leisure so need try to attract them
3 factors that affect consumer decision
Price of leisure(more complicated than price of other goods)
may involve components
entrance charge
transport cost
cost of accommodation
O.C
affect in 2 diff ways
average cost of participation: takes all types of cost into account(higher = lower participation)
marginal cost: costs that determine frequency of participation
price elasticity of demand: measure responsiveness of demand to change in price
% change in qty demand ÷ % change in price
inelastic: demand dont respond to change in price
factors:
necessity of good/service, price, no. of substitute
Price of other goods & services
People income
income elasticity of demand: measure responsiveness of demand to change in income
'+'ive r/s between income and demand
attitudes, values & motivations affect demand
attitude: learned tendency to respond in consistent way to given situation
value: lasting belief that a specific mode of conduct is preferred
motivation: force that lead peep to seek certain goal related to needs
Temporal pattern: change in demand may be affected by economic change(eg. recession)
seasonal/weekly, daily basis(norm: weekend)
flexible working condition, early retirement have slight effect
Spatial pattern of demand is determined by LOCATION of resources & facilities
link to ability & willingness to travel
investment in travel time is more acceptable for leisure activity that is more time consuming/ more attractive