Got a tricky question? Receive an answer from students like you! Try us!

Marketing of Segmentation in hospitality industru - Essay Example

Pages 3 (753 words)
Download 0


Importance of segmentation in hospitality industry Importance of segmentation in hospitality industry The success of marketing policies used within each industry is depended on the level at which these policies are aligned with the industry’s needs and trends, as influenced by the local culture and ethics…

Extract of sample
Marketing of Segmentation in hospitality industru

The potential use of segmentation in hospitality industry is discussed in this paper. Emphasis is given on the value of segmentation in the particular industry, as the specific issue is analyzed in the relevant literature. In order to understand the importance of segmentation in hospitality industry it would be necessary to refer to the characteristics of segmentation as a marketing technique. Then, its use in hospitality industry could be explored. According to Stanton market through segmentation a market, which is heterogeneous in regard to a particular product is partitioned, or else divided, into segments, so that each of these segments to be homogeneous for the particular product (Stanton 1983, cited by Vieceli & Valos, 1998, p.137). From a similar point of view, Lamb, Hair & McDaniel note that market segmentation helps marketers to identify the preferences and needs of different groups of people within a particular area (Lamb, Hair & McDaniel 2008, p.232). Market segmentation has led to the transformation of business practices worldwide. For instance, Wal-Mart has established a unique marketing approach: its stores address the needs of six different market segments, being aligned with six different styles: “urban, suburban, Hispanic, multicultural, baby boomer and rural” (Lamb, Hair & McDaniel 2008, p.232). ...
Download paper
Not exactly what you need?

Related Essays

Business: Tourism and Hospitality Marketing
The growth in international trade, opening of economies and global access to information have brought increasing competition in several industries, resulting in strong consolidation and reduction of margins which has introduced the marketing strategists to an era of strict budgetary control and coordination, demanding very careful decision making with respect to where and how to spend what…
11 pages (2761 words)
Hospitality Industry Marketing
Through successful marketing, the leaders of the hospitality industries can find ways to please their clients hence; they can be in a better position to compete in the marketplace. All hospitality industries should make sure all their employee have done marketing courses, since it will help them to conduct marketing researches and analysis, which are an essential tools for the development of…
5 pages (1255 words)
Marketing Segmentation and Targeting
A good market segment should be homogenous meaning all customers in a specific segment would prefer a common product quality. on the other hand, buyers from different segments are expected to have different products and services tastes. However, all these should yield much returns. The term can also be described as grouping customers with similar needs and charged differently from other groups or…
6 pages (1506 words)
Marketing Research and Segmentation Problem
Therefore, it can be mentioned in a nutshell that the hospital caters to the general people with a wide range of medical facilities. Research A research on the consumers in the area surrounding the hospital would be carried out with the help of Value and Lifestyles (VALS2) and Potential Rating Index by Zip Market (PRIZM). VALS2 This tool for lifestyle analysis makes an endeavor to contour…
4 pages (1004 words)
Segments are the portions attained after considering the various variables that include age, gender, and societal class in terms of income generation, attitudes, and opinions. Other factors include their interests, physique, and their knowledge status among many others. Segmentation is part of the many tools and theories in the marketing world (Wedel and Kamakura 69). For instance, the…
8 pages (2008 words)
Marketing Segmentation - Demographic
The inclinations of the consumers are different for the same goods and services produced in the economy. Thus, it becomes crucial to categorize or segregate the buyers possessing same characteristic features of tastes and preferences. This process of grouping buyers in terms of several common determinants is known as market segmentation (Wind and Douglas, 1972). Market Segmentation It is believed…
4 pages (1004 words)