Marketing Manual

Running Head: MARKETING 1
Marketing Manual
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MARKETING 2
LGBT Consumer Market Research
Market research leverages a business on the ever-changing dynamic needs of the market helping
it align its operational and marketing strategies to meet the customer needs, wants, and
expectations. The 2013 LGBT report indicates that LGBP demographic has been recording
tremendous traction in the struggle for equality. The quest is noted to significantly change the
market creating a market gap for companies to tap into market potential generated by the diversity,
gender, and gay rights. The report further noted that the increasing change of public attitude
towards acceptance of LGBT persons had left many markers scrambling to establish plans to tap
into the goldmine.
Statistics
Oakenfull (2015) indicate that a study by The William’s Institute reported that an estimate of 3.5%
of the United States adult population constitutes of LGBT. The 2013 LGBT report in 2006 3.4%
of the cumulative non-Hispanic adult population consider themselves as LGBT individuals;
however, the statistics increased to 4.3% as per the 2013 survey. 5.8% of the American youth aged
between 18 and 34 years term themselves as LGBT. 36% of the LGBT population in the U.S. is
aged between 18 and 34 years against 26% of the heterosexual community. While 16% of the
LGBT are in their late adulthood (65 years and above) against 20% heterosexual cohort. Dates
(2015) notes that over 57% of the LGBT population is expected to be married with a considerable
number officiating the union through weddings. The statistics below show a growing number of
the LGBT community across the age group which translates to increased LGBT market based, of
which Euphoria can tap into as it targets promoting LGBT marriages.
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Figure 1: LGBT Adult Population in the U.S. by Age
With the legalization of same-sex marriage by the Supreme Court, it is anticipated the number of
LGBT marriages to escalate. In 2013, the LGBT report elucidated that 17% and 16% of gay men
and lesbians respectively are married based on 2007 study sample in Massachusetts. The table
below that despite the heterosexual men and women being more likely to marry, the number of
gay men and lesbians is increasing creating a potential market for the wedding and hospitality
sector.
Figure 2: Statistics on LGBT Weddings against Heterosexual Men and Women Marriage in the U.S.
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Figure 3 shows the likelihood of the LGBT to get married in the U.S. according to a CMI report
in 2017. Across the LGBT group, there is a high probability of couples getting married through
legal means of which weddings is a crucial constituent; hence an ascertain market for Euphoria.
Gender expansive refer to transgender.
Figure 3: Marital and Relationship Status
Figure 4 below the likelihood of married LBGT having wedding destination such as honeymoons.
The statistics are key in planning on how to tap into the market.
Figure 4: Marriage Destinations
About one-third of LGBTQ couples consider their wedding a destination wedding. Men: 35% had
a destination wedding Women: 29% had a destination wedding. Nearly half of LGBTQ couples
consider their wedding a destination. Half of couples are choosing to host a destination wedding
(men, 53%; women, 49%). Within the LGBTQ community, transgender couples are even more
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likely to host a destination wedding (78%). Among those choosing to have a destination wedding,
74% of men and 73% of women are having a destination in the domestic US (not including HI and
AK).
Trends
In regard to the wedding and reception patterns, a report by CMI 2016 on same-sex weddings
indicated that most of the LGBT marriages are have planned ceremony and receptions for the
invited quests as shown below.
Figure 5: Ceremony and Reception Patterns
For planned receptions and ceremony it is key for the hotel hosting the ceremony or reception to
determine the number of guest expected normally invited by the LBGT. CMI report of LGBT
wedding indicated that most of the reception and ceremonies invited quests ranging from 100-200.
Using this data, Ephoria can anticipate the number to quests to attend to when holding the LGBT
weddings hence making considerations on space and quantity of food to serve among other related
considerations.
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Figure 6: Number of Guests
Figure 7 indicated the wedding ceremony destination preferences which significantly impacts on
Euphoria. The place where the group prefers to hold their weddings denotes the probability of the
hotel to be holding the ceremonies for the group. The CMI 2016 report indicated that most refer
ceremonies in the public park or beach setting with 8% preferring hotels while 4% restaurants.
Figure 7: Wedding Ceremony Settings
In addition to ceremony, the type of setting for reception also shall affect the Euphoria business
plans and management as well as marketing strategies. Figure 8 below shows the type of setting