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    Module 2. The Tourist Market and Segmentation

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    Amparo Pagsisihan
    This document discusses market segmentation and targeting in tourism. It defines a market and identifies the three steps to target marketing as market segmentation, market targeting, and market positioning. It describes market segmentation as grouping buyers into categories based on common needs and discusses characteristics of good market segments. The document also covers market coverage strategies, factors for evaluating market targeting, and concepts for market positioning, including unique selling propositions and competitive advantage. Finally, it identifies several new and emerging market segments in tourism.

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    Module 2. The Tourist Market and Segmentation

    Uploaded by

    Amparo Pagsisihan
    158 views19 pages
    This document discusses market segmentation and targeting in tourism. It defines a market and identifies the three steps to target marketing as market segmentation, market targeting, and market positioning. It describes market segmentation as grouping buyers into categories based on common needs and discusses characteristics of good market segments. The document also covers market coverage strategies, factors for evaluating market targeting, and concepts for market positioning, including unique selling propositions and competitive advantage. Finally, it identifies several new and emerging market segments in tourism.

    Original Description:

    Tourism Marker and Segregation 1

    Original Title

    Module 2. The Tourist Market and Segmentation (1)

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    This document discusses market segmentation and targeting in tourism. It defines a market and identifies the three steps to target marketing as market segmentation, market targeting, and market positioning. It describes market segmentation as grouping buyers into categories based on common needs and discusses characteristics of good market segments. The document also covers market coverage strategies, factors for evaluating market targeting, and concepts for market positioning, including unique selling propositions and competitive advantage. Finally, it identifies several new and emerging market segments in tourism.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    158 views19 pages

    Module 2. The Tourist Market and Segmentation

    Uploaded by

    Amparo Pagsisihan
    This document discusses market segmentation and targeting in tourism. It defines a market and identifies the three steps to target marketing as market segmentation, market targeting, and market positioning. It describes market segmentation as grouping buyers into categories based on common needs and discusses characteristics of good market segments. The document also covers market coverage strategies, factors for evaluating market targeting, and concepts for market positioning, including unique selling propositions and competitive advantage. Finally, it identifies several new and emerging market segments in tourism.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    Module 2

    The Tourist Market and


    Segmentation
    Learning Objectives

    At the end of the discussion, the student should…


    • Define what a market is;
    • State the three steps to target marketing;
    • Identify the characteristics of a good market segment;
    • Discuss the market coverage strategies and positioning; and
    • Distinguish the new and emerging markets in the
    Philippines.

    The Tourist Market and Segmentation


    Market
    • It is a set of actual and potential buyers of a product.
    • A niche market is the subset of the market on which a
    specific product is focused.

    The Tourist Market and Segmentation


    “DEFINITION OF A MARKET”
    3 steps to target marketing
    • Market Segmentation
    • Market Targeting
    • Market Positioning

    The Tourist Market and Segmentation


    “DEFINITION OF A MARKET”
    Market Segmentation
    • It is the process of grouping buyer’s common desires or
    needs, having into different categories.
    • It is the process of identifying the groups of buyers on the
    basis of differences in their desires or requirements.
    • A market segment is a subgroup of the total consumer
    market who share similar characteristics.

    The Tourist Market and Segmentation


    “MARKET SEGMENTATION”
    MARKET Vegans

    Fruits Vegetables
    MARKET
    SEGMENTATION

    MARKET
    SEGMENTS

    Banana Apple Lettuce Potatoes


    The Tourist Market and Segmentation
    “MARKET SEGMENTATION”
    Characteristics of a Market Segment

    The Tourist Market and Segmentation


    “MARKET SEGMENTATION”
    Market Targeting
    • It is the process of evaluating each segment’s attractiveness
    and selecting one or more of these market segments in
    which to operate one’s business (Kotler et al, 2017).

    The Tourist Market and Segmentation


    “MARKET TARGETING”
    Factors to consider in evaluating which segment
    should be
    1. Segment Size – refers to the volumes, growth rate, and
    high profit margin.
    2. Attractiveness – refers to the potential impact of the
    segment to the company. One that is not saturated and has
    few aggressive competitors would be structurally
    attractive.
    3. Company objectives and availability of resources – refers
    to the main reason for its decision making and the
    available resources the company will use to make its
    objectives a reality.

    The Tourist Market and Segmentation


    “MARKET TARGETING”
    Market Coverage Strategies
    1. Undifferentiated Marketing – a strategy that ignores
    market segmentation and goes after the entire market with
    only one market offer.

    The Tourist Market and Segmentation


    “MARKET TARGETING”
    Market Coverage Strategies
    2. Differentiated Marketing – a strategy that approaches the
    market by targeting several market segments using
    separate offers per segment.

    The Tourist Market and Segmentation


    “MARKET TARGETING”
    Market Coverage Strategies
    3. Concentrated Marketing – a strategy practiced by
    companies with limited resources.

    The Tourist Market and Segmentation


    “MARKET TARGETING”
    Factors to consider in choosing market coverage
    strategy
    1. Company’s resources
    2. Degree of Product Homogeneity
    3. Market Homogeneity
    4. Competitor’s Strategy

    The Tourist Market and Segmentation


    “MARKET TARGETING”
    Market Positioning
    • It is the developing competitive positioning for the product
    and an appropriate marketing mix.

    The Tourist Market and Segmentation


    “MARKET POSITIONING”
    3 Market Positioning Concepts
    • Unique Selling Promotion – is a term used to identify what
    makes the product or service different from others. Ex.
    Specifications, materials used, etc.
    • Competitive Advantage – is the product’s advantage over
    it’s competitors. Ex. Stores that offering great value and
    lower prices at the same time.
    • Top-of-mind Awareness – is a term means that the brand
    occupies the top spot in a consumer’s mind. Ex. Colgate,
    Xerox.

    The Tourist Market and Segmentation


    “MARKET POSITIONING”
    The Tourist Market and Segmentation
    “GENERATIONAL TRAVEL MARKETS”
    The Tourist Market and Segmentation
    “GENERATIONAL TRAVEL MARKETS”
    The Tourist Market and Segmentation
    “GENERATIONAL TRAVEL MARKETS”
    Family
    Marke
    t
    The Senior
    Bleisure Marke
    Market t
    New and
    Emergin
    LGBTQ g Youth
    + Markets Marke
    Market t

    Solo The MICE


    and
    Travel Business
    Market Market

    The Tourist Market and Segmentation


    “NEW AND EMERGING MARKETS”

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