The construct "lifestyle" in market segmentation - Essay Example

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The construct "lifestyle" in market segmentation

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. ...Show more

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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)…
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