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Market Segmentation | Assignment Sample

   

Added on  2021-04-24

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MARKET SEGMENTATION 1MARKET SEGMENTATION IN AUSTRALIABy NameCourseInstructorInstitutionLocationDate
Market Segmentation | Assignment Sample_1

MARKET SEGMENTATION 2Market segmentation in AustraliaAccording to TrackMaven | Marketing Analytics Software (2018), market segmentation is a marketing strategy that entails dividing a market into smaller portions according to specific characteristics. This tactic helps marketers, in particular, to come up with customized campaigns for each group to gain a competitive advantage in the marketplace.Marketing segments are created following the criteria below:1.Distinctiveness.Here, members of a particular segment are similar to each other and anyone can distinctively identify them from other groups. This could be group travelers or solo travelers.2.Strengths of a destination.Different destinations suit different tourist. This means that every type of destination will attract a particular type of tourists. For instance, destinations with children friendly facilities are likely to form a segment for family tourist destinations.3. Size.A segment may not necessarily target a big population for it to be viable. Some segments aimat a smaller niche provided the market for particular destinations is large and lucrative.4.Reachability.This is the ability to communicate effectively with the destination managers and target segments. For instance, newlyweds are likely to read weddings and marriage bulletins and magazines. Tourism bodies and agencies should then advertise for suitable destinations in such platforms. For every segment, there should be a channel to easily reach them.Bases of market segmentationThey include the following:1.Psychographic segmentation.
Market Segmentation | Assignment Sample_2

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