TOURIST MARKET AND SEGMENTATION Flashcards
it is for a particular set of buyers, a niche market tourist product
tourist product
what are the three steps to target marketing
- market segmentation
- market targeting
- market positioning
it divides the market into distinct groups that might require separate products or different marketing mix.
market segmentation
Market segmentation is divided to:
- geographics
- demographics
- psychographics
- behavioral
it evaluates each segment’s attractiveness and selecting one or more of these market segments in which to operate one’s business
market targeting
three factors to consider evaluating segment
- segment size
- attractiveness
- company objectives and availability of resources
Its goal is to identify the product or service’s unique characteristic in a way that will differentiate it in the marketplace.
market positioning
three positioning concepts
- unique selling proposition (USP)
- competitive advantage
- top-of-the-mind awareness
Term used to identify what makes the product or services different from each other.
Unique Selling Proposition (USP)
which is gained by offering greater value either by offering a lower price or providing more benefits to justify higher prices.
Competitive Advantage
It means that the brand occupies the top spot in a consumer’s mind.
Top-of-the-mind Awareness
