Travel Market - Segmentation
1. The Travel Market can be segmented into 3 segments: Luxury travellers, Adventurers and Budget travellers. These segments are identified by demographics like age and income, psychological factors like personality, and benefits sought like needs and product features.
Luxury travellers are usually older or middle-aged consumers who are already financially prosperous and look for relaxation and rejuvenation from their stressful positions. They can also be retirees. Luxury travellers will be willing to pay more for value, quality and service, and they look for quality relaxation and experience when looking for a place to reside while travelling. Luxury travellers will respond well to Banyan Holding’s Banyan and Laguna resorts and hotel line. Banyan tree hotels and resorts seek to have guests “pampered with a warm and friendly retreat experience” and are targeted to those “who place a premium on exclusive and unique localtes, with a penchant for the indulgent, luxurious and exotic” (Marketing in Asia 2nd Ed, p714-715). These high-end customers desire personalized service, ambience, and design, and a self-contained, personal retreat with private and tasteful amenities (Marketing in Asia 2nd Ed, p715). Luxury travellers who go on trips with their family members will prefer Laguna resorts and hotels as it provides a wide range of amenities for children to elderly, like the children’s suite, Laguna shopping centre and Angsana Spas. The Laguna hotels offers a wider range of services for a broader base of targeted audience, hence appealing to luxury travellers who travel with their family.
Adventurers are younger working adults around their twenties to late thirties who are financially independent and willing to spend. These consumers look for exotic places and place high emphasis on outdoor-recreation. They value authenticity and look for opportunities to immerse themselves in the local culture. People who go for adventure travelling would look for places that are less
Luxury travellers are usually older or middle-aged consumers who are already financially prosperous and look for relaxation and rejuvenation from their stressful positions. They can also be retirees. Luxury travellers will be willing to pay more for value, quality and service, and they look for quality relaxation and experience when looking for a place to reside while travelling. Luxury travellers will respond well to Banyan Holding’s Banyan and Laguna resorts and hotel line. Banyan tree hotels and resorts seek to have guests “pampered with a warm and friendly retreat experience” and are targeted to those “who place a premium on exclusive and unique localtes, with a penchant for the indulgent, luxurious and exotic” (Marketing in Asia 2nd Ed, p714-715). These high-end customers desire personalized service, ambience, and design, and a self-contained, personal retreat with private and tasteful amenities (Marketing in Asia 2nd Ed, p715). Luxury travellers who go on trips with their family members will prefer Laguna resorts and hotels as it provides a wide range of amenities for children to elderly, like the children’s suite, Laguna shopping centre and Angsana Spas. The Laguna hotels offers a wider range of services for a broader base of targeted audience, hence appealing to luxury travellers who travel with their family.
Adventurers are younger working adults around their twenties to late thirties who are financially independent and willing to spend. These consumers look for exotic places and place high emphasis on outdoor-recreation. They value authenticity and look for opportunities to immerse themselves in the local culture. People who go for adventure travelling would look for places that are less