The Holiday Market Assignment Example | Topics and Well Written Essays - 2000 words

The vacation Market - Assignment ExampleGeographic part divides the food market in terms of cities, countries, regions or locality. This whitethorn also include the size of the area, population and climatic conditions. Psychographic variable takes into account peoples lifestyles and locations. Socio-economic understructure helps the marketers to target selected products to contrasting segments thus made. In addition to the above bases for variance, because of changes in consumer demands, several other bases for sectionalization have been found. These include behavioral and attitudinal segmentation. Behavioral segmentation is undertaken based on how the customers know or move to the use of the product. The vacation sector is seasonal and hence based on the occasion, segmentation can be undertaken. customer behavior also pertains to usage and loyalty and these are also used as bases for segmentation on this sector (Tutor2u, n.d.). Marketers can engage in attitudinal segmentati on but Diaz-Martin et al., find that people with different attitudes may also end up buying the same brand or having the same preferences. The attitude determines the preference for the activity and some may choose hill trekking while others prefer scuba diving. solely the above bases for segmentation as discussed above do not apply to all areas within the holiday market. In the air sector segmentation based on expected sales is redundant. Latent gradation segmentation is undertaken which is based on consumer perception of brand, price promotion, sales personnel and product line (Bond & Morris, 2003). Customer expectations are not homogenous and airlines also use customer expectation as an important segmentation variable. Expectations influence the perceived service quality which helps to gain competitive... The Holiday Market Segmentation comes naturally to humans beings. Segmentation helps focus on the specific market and service its needs accordingly. The market has to be def ined in terms of the end users of the products or services. Sales and marketing is not about getting any customer but to select a homogenous group of customers. This helps gussy up the right marketing commixture strategy as market segmentation is a proactive process involving several analytical techniques (Goller, squealer and Kalafatis, 2002). This paper evaluates the different bases that marketers use to select their target market. It also examines the segment that is likely to increase or decrease in the next decade. Based on this analysis, the paper recommends how holiday marketers can monitor and devise their marketing strategy. What bases for segmentation might be appropriate in the holiday business? The holiday market is highly competitive and fragmented and hence the segmentation is based on different eventors. In fact segmentation in the holiday market could differ for different products. For instance segmentation in rapture could differ from segmentation strategy ado pted by the hotels. Segmentation can be based on factors such as demographic, socio-economic, geographical, or psychographic. On review of the above discussion and research it can be concluded that holiday marketers would have to segment their customers based on demographics even if it is considered an outdated method of segmentation. The ripened customers is a high potential segment which prefers package holidays as they seek convenience, comfort, security and safety.