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Week 7: Market Segmentation & Tourist Behaviours
Target market & Segmentation
  * Segmentation: grouping consumers into segments based on similar characteristics.
      * Breaking down into certain criteria.
  * Targeting: choosing the one or more segments that are mostly likely to respond positively to a promotional message.
      * The way you select the segment.
      * Choose segment that is cheaper, more effective, and easier to achieve.
Targeting strategies
  * Undifferentiated strategy:
      * Sending the same promotional message to everyone
      * Mass distribution and advertising hence lowering the costs of advertising units, marketing research and product development.
      * Most suited for homogeneous, newly introduced products with homogenous markets.
  * Differentiated strategy:
      * Designing more than one promotional message, with each communicating different benefits.
      * For products that vary in design and are in the mature stage of the product lifecycle.
  * Concentrated strategy:
      * Designing a promotional message that communicates the benefits desired by a single specific segment.
      * Effective if companies with limited resources and additional financial and staff resources are available.
Factors in deciding a segmentation method
  * Can the segment be:
      * Easily identified and measured in terms of purchasing power and size?
      * Large enough to be profitable?
      * Reached effectively through advertising and promotion?
      * Interested in the product service offered?
      * Likely to grow in the long-term?
Segmentation methods:
  * Geographic:
      * Grouping tourists locally, regionally, nationally, and internationally.
      * Oldest and simplest basis for market segmentation.
      * Common for tourism suppliers to market to a limited region.
  * Demographic:
      * Most popular basis of segmentation.
      * External characteristics e.g. gender, age,...

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