Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Vals segmentation examples

28/03/2021 Client: saad24vbs Deadline: 2 Day

Glencoe Marketing Series:

III. Marketing Hospitality

9. Market Information and

© The McGraw−Hill

Hospitality and Tourism

and Tourism

Research

Companies, 2006

9.1

Target Markets

YO U W I L L L E A R N

To explain the purpose of market segmentation.

To identify the methods used to segment markets.

To explain product positioning.

W H Y I T ’ S I M P O R TA N T

Understanding how to segment markets and position products in the minds of consumers is critical for successful marketing.

K E Y T E R M S

market segmentation

psychographics

geographics

behavioristics

positioning

competitive advantage

Describe why it might be important to segment markets.

market segmentation a way of analyzing a market by specific characteristics to create a target market

The Importance of Market Segmentation

Market segmentation is a way of analyzing a market by spe-cific characteristics to create a target market. As you learned in Chapter 1, market segments are groups of consumers categorized by those characteristics because a group may have similar needs and wants. Researchers can use different characteristics, such as age, in-come, ethnic background, gender, education, and marital status, to seg-ment a target market of consumers. The goal of any segmentation strategy is to understand the different markets and the unique needs and wants within each market. No particular strategy works better than another strategy. In fact, by using a number of market-segmentation strategies, marketers can get a more precise picture of the buying

behavior of each group.

Some of the typical market segments are based on demographics, psy-chographics, geographics, behavioristics, and frequency of product use.

Demographic Segmentation

As discussed in Chapter 8, demographics are statistics that describe a population in terms of personal characteristics, such as age, gender, income, ethnicity, or education. Using demographics is one of the most common ways of segmenting customer groups because demographic characteristics are objective and easy to measure. Most local, state, and national governments take routine census surveys that reveal the size and makeup of its residents. The survey results are available to anyone, including marketers.

AGE GROUPS Knowing the size of a particular age group within a society can be useful for product planning because the needs and wants of customers are often age specific. For example, think about what is important to teenagers. The needs and wants of teens are not the same as those for senior citizens. Marketing campaigns by McDonald’s for teens differ from campaigns designed for senior citizens.

INCOME People with similar income levels sometimes have similar needs and wants. For example, a company offering vacation homes and pleasure boats would not market to a target market with low income.

GENDER Another demographic factor is gender. Besides differences in preferences for clothing and toiletries, men and women have dis-tinctly different buying behaviors. In recent years, hotel operators have noticed an increase in the number of female business travelers. They responded to this demographic shift by focusing on women’s needs when planning new properties or remodeling old facilities.

186

Unit 3 Marketing Hospitality & Tourism

Glencoe Marketing Series:

III. Marketing Hospitality

9. Market Information and

© The McGraw−Hill

Hospitality and Tourism

and Tourism

Research

Companies, 2006

Psychographic Segmentation

Psychographics are studies of consumers based on social and psy-chological characteristics, such as attitudes, interests, and opinions. In Chapter 2, you learned about Plog’s theory of psychographics as it related to people’s choices in travel destinations. In marketing, psy-chographics refer to how people spend their leisure time, the way they live, and their personal preferences—all of which define their lifestyles. Lifestyle preferences are determined by activities people pursue, what is important to them, and how they feel about themselves and the world. For example, psychographic segmentation can be used to identify people interested in theme cruises, murder-mystery parties, or family reunions.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Online Assignment Help
Solution Provider
Top Grade Tutor
Financial Hub
Premium Solutions
WRITING LAND
Writer Writer Name Offer Chat
Online Assignment Help

ONLINE

Online Assignment Help

I have read your project details. I can do this within your deadline.

$73 Chat With Writer
Solution Provider

ONLINE

Solution Provider

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$68 Chat With Writer
Top Grade Tutor

ONLINE

Top Grade Tutor

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$57 Chat With Writer
Financial Hub

ONLINE

Financial Hub

I will cover all the points which you have mentioned in your project details.

$82 Chat With Writer
Premium Solutions

ONLINE

Premium Solutions

I have read and understood all your initial requirements, and I am very professional in this task.

$107 Chat With Writer
WRITING LAND

ONLINE

WRITING LAND

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$66 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Is sodium chloride soluble in acetone - Days of working capital capsim - Citation the bible in turabian liberty university - Which of the following best describes a critical update? - Types of simple machines - Usanovich concept of acid and base - Characteristics of autobiography genre - 2x+5=7. ,Find x? - Describe how a plasmid can help a cell - Superconducting magnetic energy storage pdf - Www gma vic gov au licensing - John sharper florist temple hills md - Observing chemical reactions lab report - PSY 7-1 - Gateshead gov uk building development planning applications - Companies with ethnocentric hrm orientations - Operating Data Center - Business driven technology 5th edition mcgraw hill - A leaping tongue of bloom - I need 300 words homework assignment in Alzheimer Disease - Chcdiv002 assessment 2 answers - How to read solubility chart - I need 1200 words essay in Foundation of Army Leadership - Sci 207 week 3 lab - Flower in the crannied wall figurative language - Critical reasoning - Fuji xerox paper supplies - What were the causes of the great depression - Integrated circuits are manufactured in vacuum chambers - Central arizona college blackboard - How to find north pole of ring magnet - Complex ions and solubility - Steve jobs personality - Assume f&s offers a deal whereby - Ultrasonic blind stick project - Asic application specific integrated circuit - Lenscrafters operational management challenges - Uranus miles from the sun - Assessment 4 - Marketing - Av gad systems ltd - Srp ideas year 9 - Prince charles palliative care - All of the information your brain receives __________ - Indra nooyi a transcultural leader - Top loading balance uses - Plumpton college veterinary nursing - Operation management ppt presentations - When does brutus join the conspiracy - I need 1000 words in ASSIGNMENT AND ADVANCED MANAGERIAL - Tiny particle found in blood essential for clotting crossword clue - The cask of amontillado answer key - Finding the inverse of a linear function - Positive Impacts of Emotional Support Animals - Solving fractional equations homework answers - Deafness and communication unimelb - How to calculate 6 months savings - Iload mobi free mp3 songs - An ideal otto cycle has a compression - Advancing - Criticism of natural law - 2.1 10 practice complete your assignment - Neurotic anxiety existential therapy - True collaboration in healthcare - Alamo instructure - Intake manifold tuning valve location - Cloud Computing - Illawarra tree top walk - Empathy, Probing, and Summarizing - Institutional Treatment of Criminal Offenders – Chapter 10 – Incarceration. - Ppt - One fell swoop shakespeare - In 1966, lillian gilbreth received the ________ from the american society of civil engineers. - Initiating the Project - Problem Set 5 - Can i mix agm and lead acid batteries - Capstone make up work 1 - Advantages and disadvantages of anova - Writing - International business management - What did eratosthenes accomplish - Graduation maya angelou questions - Last minute lnat tips - Maximum normal stress equation - Writing homework - Is SpeedyPaper Legit: Evaluating the Credibility of an Academic Essay Help Service - M8 Essay 2 - Discussions(SPORT AND SOCIETY) - Interstate battery date code - Sky chefs inc prepares in flight meals 4000 - Just a spoonful of love part two - Fahrenheit 451 why are books compared to birds - Periodic inventory system journal entries examples - Myob accounting plus v11 download - Uber ethical issues - The most significant motivator of corporate social reporting is - Klm model in hci - Video from tik tok - Brick veneer vs hebel - Case Study Report - Allroad parts competitive strategy