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    Chapter 2 Marketing

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    Kyla Lim
    This document discusses market segmentation and targeting in the tourism industry. It begins by defining a market and outlining the steps to target marketing. Key points include identifying characteristics of good market segments, discussing market coverage strategies and positioning, and distinguishing new emerging markets in the Philippines. The objectives are met through defining terms, identifying variables to segment consumer markets, and factors to consider when evaluating and choosing market coverage strategies.

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    © All Rights Reserved
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    Chapter 2 Marketing

    Uploaded by

    Kyla Lim
    32 views12 pages
    This document discusses market segmentation and targeting in the tourism industry. It begins by defining a market and outlining the steps to target marketing. Key points include identifying characteristics of good market segments, discussing market coverage strategies and positioning, and distinguishing new emerging markets in the Philippines. The objectives are met through defining terms, identifying variables to segment consumer markets, and factors to consider when evaluating and choosing market coverage strategies.

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    CHAPTER-2-MARKETING

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    This document discusses market segmentation and targeting in the tourism industry. It begins by defining a market and outlining the steps to target marketing. Key points include identifying characteristics of good market segments, discussing market coverage strategies and positioning, and distinguishing new emerging markets in the Philippines. The objectives are met through defining terms, identifying variables to segment consumer markets, and factors to consider when evaluating and choosing market coverage strategies.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    32 views12 pages

    Chapter 2 Marketing

    Uploaded by

    Kyla Lim
    This document discusses market segmentation and targeting in the tourism industry. It begins by defining a market and outlining the steps to target marketing. Key points include identifying characteristics of good market segments, discussing market coverage strategies and positioning, and distinguishing new emerging markets in the Philippines. The objectives are met through defining terms, identifying variables to segment consumer markets, and factors to consider when evaluating and choosing market coverage strategies.

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    of 12

    THE TOURIST MARKET

    AND SEGMENTATION
    CHAPTER 2
    1. DEFINE WHAT IS A MARKET;
    2. STATE THE THREE STEPS TO
    TARGET MARKETING;

    Objectives: 3. IDENTIFY THE


    CHARACTERISTICS OF A GOOD
    MARKET SEGMENT;
    4. DISCUSS THE MARKET
    COVERAGE STRATEGIES AND
    POSITIONING;
    5. DISTINGUISH THE NEW
    EMERGING MARKETS IN THE
    PHILIPPINES.
    Definition of a Market
    A market is a set of actual and potential buyers
    of a product. These buyers share a particular
    need or want that can be satisfied through
    exchange relationships (Kotler et al. 2016).

    20XX
    Market Segmentation
    - A market is comprised of varied profiles and
    characteristics that can be further segregated.
    Characteristics of a Market Segmentation:
    1.Identifiable
    2.Cohesive
    3.Measurable
    4.Accessible
    5.Substantial
    6.Actionable
    Table 2.1 Variables to Segment Consumer Markets
    Geographic Demographic
    Nations Age
    States Life cycle
    Regions Gender
    Countries Income
    Cities Occupation
    Neighborhoods Education
    Barangays Religion
    Towns Race
    Psychographic Behavioral
    Special occasions
    Benefits
    Social class
    Sought usage
    Lifestyle
    Rate user status
    Personality
    Loyalty status
    Buyer readiness

    20XX 5
    Market Targeting
    • Shows the various market segment opportunities
    available for a company. A careful assessment of these
    specific market segments will help the firm identify which
    ones it should target.

    Factors to consider in evaluating which segments should be


    targeted:
    1. Segment size
    2. Attractiveness
    3. Company objectives and availability of resources

    20XX presentation title 6


    MARKET COVERAGE STRATEGIES

    In the selection of specific market segments, a company


    decides on a market coverage strategy that is in line with its
    objects and resources.
    Three Market Coverage Strategy:
    (1)undifferentiated marketing,
    (2)differentiated marketing, and
    (3) concentrated marketing.

    20XX 7
    UNDIFFERENTIATED MARKETING
    • A COMPANY IGNORES MARKET SEGMENTATION AND GOES AFTER THE ENTIRE
    MARKET WITH ONLY ONE MARKET OFFER

    DIFFERENTIATED MARKETING
    o APPROACHES THE MARKET BY TARGETING SEVERAL MARKET SEGMENTS USING
    SEPARATE OFFERS PER SEGMENT.

    CONCENTRATED MARKETING
    • PRACTICED BY COMPANIES WITH LIMITED RESOURCES. IT PURSUES GETTING A
    BIG SHARE OF A SMALL MARKET RATHER THAN A SMALL SARE OF A LARGE
    MARKET

    20XX 8
    FACTORS TO BE CONSIDERED WHEN CHOOSING MARKET COVERAGE STRATEGY

    1. COMPANY’S RESOURCES – refers to how much money and resources the company has which can
    be allocated to marketing.
    2. DEGREE OF PRODUCT HOMOGENEITY – if products are standardized and identical, it is more
    advisable to go for undifferentiated or concentrated marketing.
    3. MARKET HOMOGENEITY – if there is a diverse market, differentiated marketing is advisable.
    4. COMPETITOR’S STRATEGY – it is important to assess the strategy competitors are using so that
    the correct strategy can be implemented to counter their marketing efforts.

    20XX presentation title 9


    MARKET POSITIONING
    Market positioning is developing competitive positioning for the product and
    an appropriate marketing mix (Kotler et al. 2017). These three positioning
    concepts will help reinforce the idea of market position: (1) unique selling
    preposition, (2) competitive advantage, and (3) top-of-mind awareness.

    Unique selling preposition (USP) is a term used to identify what makes the
    product or service different from others.

    Competitive advantage is the product’ advantage over its competitors, which


    gained by offering greater value either by offering lower prices or providing
    more benefits to justify higher prices(Kotler2016).

    Top-of-mind awareness is the highest level of recall that a brand receives. It


    means that the brand occupies the top spot in a consumer’s mind.

    20XX 10
    New and Emerging Markets
    Tourism markets have evolved in recent years. The study of new and emerging markets in
    tourism is vital in the growth of destination.
    These are the factors that identified the growth of tourism on the demand side:
    1. Economic growth in major source markets
    2. Increase in disposable leisure time and a longer life expectancy with sound health to travel.
    3. Changes in living conditions, especially city dwellers becoming more inclined to engage in
    tourism.
    4. Rising education levels and increased access to information, stimulating curiosity.
    5. Increase international integration of life.
    Furthermore on the supply side growing through:
    1. The development of and investment in infrastructure;
    2. Continuous tourism product development; and
    3. The elimination of legal limitations on and practical obstacles to travel.
    Types of Markets
    • The Family Market
    • The Senior Market
    • The Youth Market
    • The Solo Travel Market
    • The LGBTQ+ Market
    • The Bleisure Market ( business and leisure)
    • Wellness Tourism

    20XX presentation title 12

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