4Ps Product Life Cycle STP
Consumer Promotion Process:
1.) Tourism Market Segmentation:
Segmentation is the process of dividing the total market into several relatively homogeneous groups with similar product or service interests, with similar needs and desires. Market segmentation in tourism is a very important element at the choice of marketing strategy. Thus the elements of marketing mix (product, price, place and promotion) are determined in accordance with the different segments of market.
The tourist market can be segmented on the basis of the following characteristics:
Geography or place of origin of tourists
Demographic characteristics
Psychographic characteristics
Behavioural characteristics
Income
The reason for segmentation is to appeal the potential customers, direct marketing efforts in a productive way and have a targeted approach. Good marketing means selecting the segments that are most interested in specific services and aiming the marketing plan at them.
Basis for Segmentation:
Bases
Variables
Examples
Geographic
Region,
Population Density
Continents, states, cities
Less than 5000, 5000-20000
Demographic
Age, Gender
Occupation
Male, Female
Business/ Service/ Student/ Retired
Psychographic
Social Status
Lower class, middle class, upper class
Behavioural
Use frequency, Brand Loyalty
Frequent travelers, non-users, previous users, hard-core loyals, switchers
Income
Annual Income
Below 2 lakhs, 2-5 lakhs, 5 lakhs & above
2.) Targeting:
When the market is segmented, a firm has to choose its target markets. Targeting is the process of selecting specific groups will be the focus of marketing efforts. A tourism firm is able to use many strategies for the purpose of targeting and marketing accordingly. They are:
Undifferentiated marketing strategy: When a firm produces only one product or product line and promotes it to all customers with a single marketing mix. Sometimes it is also called mass marketing.
Differentiated marketing strategy: When a firm produces numerous products
1.) Tourism Market Segmentation:
Segmentation is the process of dividing the total market into several relatively homogeneous groups with similar product or service interests, with similar needs and desires. Market segmentation in tourism is a very important element at the choice of marketing strategy. Thus the elements of marketing mix (product, price, place and promotion) are determined in accordance with the different segments of market.
The tourist market can be segmented on the basis of the following characteristics:
Geography or place of origin of tourists
Demographic characteristics
Psychographic characteristics
Behavioural characteristics
Income
The reason for segmentation is to appeal the potential customers, direct marketing efforts in a productive way and have a targeted approach. Good marketing means selecting the segments that are most interested in specific services and aiming the marketing plan at them.
Basis for Segmentation:
Bases
Variables
Examples
Geographic
Region,
Population Density
Continents, states, cities
Less than 5000, 5000-20000
Demographic
Age, Gender
Occupation
Male, Female
Business/ Service/ Student/ Retired
Psychographic
Social Status
Lower class, middle class, upper class
Behavioural
Use frequency, Brand Loyalty
Frequent travelers, non-users, previous users, hard-core loyals, switchers
Income
Annual Income
Below 2 lakhs, 2-5 lakhs, 5 lakhs & above
2.) Targeting:
When the market is segmented, a firm has to choose its target markets. Targeting is the process of selecting specific groups will be the focus of marketing efforts. A tourism firm is able to use many strategies for the purpose of targeting and marketing accordingly. They are:
Undifferentiated marketing strategy: When a firm produces only one product or product line and promotes it to all customers with a single marketing mix. Sometimes it is also called mass marketing.
Differentiated marketing strategy: When a firm produces numerous products