One outcome of the search for marketing innovations is market segmentation. Market segmentation basically deals with allocating the right consumer with the right product. The Investopedia (2011) explains market segmentation as “aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action.” Closely related to this explanation, Tatum (2011) posits that market segmentation “is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market.” Because market segmentation tries to limit the division of the market base, it allows for the fullest understanding of basic rudiments of a particular market segment. Out of this benefit, Gonzalez and Bello (2002) came up with a coiled concentration of market segmentation on the tourism market where he writes about “The construct "lifestyle" in market segmentation: The behavior of tourist consumers”. This paper seeks to assess the thesis of the author in regard to the construct lifestyle and examine other innovations presented in the article. Assessment of the thesis of the authors in regards to the construct lifestyle The authors make a number of theses as far as the construct lifestyle in market segmentation for tourist consumers are concerned. One of these theses has to do with the inclusion of lifestyle to help segment the tourism market more adequately. The writers are of the view that lifestyle of consumers is very imminent if the tourist market can properly be segmented. In view of this, they define “the construct lifestyle based on the activities, interest and opinion approach.” The authors therefore believe that for any effect market segmentation that will target specific tourist consumers, players in the industry must not loss sight of the very activities that tourist would want to engage in when they are out there on tourism. As far as tourism is concerned the World Tourism Organization recognizes three groups of consumers who are visitors, overnight tourists and excursionist (Gonzalez& Bello, 2002, pp. 53). Each of these three categories of consumers undertake the type of tourism they do for different purposes. In doing this, they participate in different pre-intended activities based on their interest and opinion of tourism. For example one group of people on tourism would opt for animal related destinations because they have a natural love for animals. Another would opt for plant related destinations because their work has to do with plants. In the view of the authors, when such interests and activities of consumers are well harnessed in the construct lifestyle, tourism operators will be in an excellent position to attract the right consumers at the right time because they will put in place the right segmentation to meet the needs of the consumers. Another thesis outlined by the authors is the need to base the construct lifestyle on the total needs of travelers. Simply out, people’s needs reflect their lifestyle. To this effect, they assert that “good theory of tourist motivation must consider the total needs of travelers and not limit its focus to one need” (Gonzalez& Bello, 2002, pp. 53). Continuing research in tourism show that there is a lot of relation between tourist motivation
The construct "lifestyle" in market segmentation: The behavior of tourist consumers Overview The task of the marketer to get goods and services traded to consumers is not something that is done only to the benefit of the marketer. As a matter of fact, marketing is done to benefit the consumer as much as the marketer (Appiah, 2003)…
[Professor’s Name] [Writer’s Name] [Course Title] [Date] Market Segmentation The market consists of different types of consumes that have a variety of needs and various types of products (Kotler, pp.44). The market further divides itself into different types of consumers, further divided into subgroups and segments.
..6 i. Geographical Segmentation………………………………………………6 ii. Demographic Segmentation………………………………………………6 iii. Psychographic and Behavioural Segmentation……………………………7 Benefits and Limitations of Market Segmentation………………………………………..7 i.
This is where the diversity of demand brought by any business entity into the marketplace are properly understood and characterised. It is developed by identifying a given number of identical market segments which are of a justifiable size, can be distinguished, customer oriented, profitable and can be easily accessed, and then selects a target group(s) for its marketing operations.
According to Weinstein (2004), market segmentation usually aims at availing products and services to consumers who are more likely to purchase those goods and services. From a theoretical perspective, marketing conducted by business organization entails employment of appropriate marketing mix within consumer environments.
This report is based on the analysis of market segmentation, application of marketing mixes and the final assessment of the two new products launched by EKON. EKON is a UK based company and known for its excel in furniture. Sofas, dining furniture, office chairs and desks are some of their popular products that they supply through their high street stores.
Demographic: Oral-B is segmented demographically as it has products for children; moreover, the kid’s brushes are also divided into four groups, depending upon the age – from four months of age to children who are above eight years of age. There are cartoon
ese five forces are in the pressure they put on management to persistently refer to these five forces for assessing whether or not their respective businesses are “properly positioned in profitable markets” (Miller 2000, p. 101). More specifically, the value inherent in
nds upon the type of purchase; if the purchase is limited the decision will take less time and effort and the opposite is true for extensive purchases whereas for routine purchases consumers just go and fetch the product of their favorite brand. According to Jack (129) consumer
Backpackers usually carry each and every thing that they may require in the route of their travel. The transportation that they use is usually public transport and for living in case of harsh weather they use hostels,
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