Podcast
Questions and Answers
Which term refers to channeling all marketing efforts towards one well-defined segment of the population?
Which term refers to channeling all marketing efforts towards one well-defined segment of the population?
What is market segmentation?
What is market segmentation?
What are the three steps to target marketing?
What are the three steps to target marketing?
What does market coverage strategies and positioning refer to?
What does market coverage strategies and positioning refer to?
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What is the tourism market?
What is the tourism market?
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Which term refers to dividing a broad consumer or business market into smaller, more manageable segments?
Which term refers to dividing a broad consumer or business market into smaller, more manageable segments?
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What is a niche market?
What is a niche market?
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What does target marketing involve?
What does target marketing involve?
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What are the characteristics of a good market segment?
What are the characteristics of a good market segment?
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What do market coverage strategies and positioning refer to?
What do market coverage strategies and positioning refer to?
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Study Notes
Market Segmentation
- Refers to dividing a broad consumer or business market into smaller, more manageable segments
- Involves channeling all marketing efforts towards one well-defined segment of the population
Target Marketing
- Involves directing marketing efforts towards a specific segment of the population
- Three steps to target marketing:
- Segmentation: dividing the market into smaller groups
- Targeting: selecting a specific segment to focus on
- Positioning: creating a unique identity for the product or service in the target market
Niche Market
- A small, specialized segment of the market with unique needs and preferences
Market Coverage Strategies and Positioning
- Refer to the process of determining which segments to target and how to position the product or service in those segments
Characteristics of a Good Market Segment
- Measurable: can be quantified and analyzed
- Accessible: can be reached through marketing efforts
- Substantial: large enough to be profitable
- Differentiable: distinct from other segments
- Actionable: can be acted upon with marketing efforts
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Description
Test your knowledge on the tourist market and segmentation in the tourism and hospitality marketing industry. Learn about defining a market, targeting marketing, characteristics of a good market segment, market coverage strategies, and positioning. Gain a better understanding of the new and emerging trends in this field.
