+
Cards In This Set
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Market
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the
set of actual and potential buyers of a product; a group of potential customers
for a particular product who are willing and able to spend money or exchange
other resources to obtain the product
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Marketing
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the
process of planning and executing the conception, pricing, promotion, and
distribution of ideas, goods, services, and experiences to create exchanges
that will satisfy individual and organizational objectives; a social and
managerial process by which individual and groups obtain what they need and
want through creating and exchanging products and value with others
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Market
segmentation
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subdividing
a market into distinct subsets of customers
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Market segmentation variables
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·
Geographic
Area
o Urban
versus rural
o Location
of residence
o Location
of employment
o Access
to leisure locales
o Regional
differences
·
Leisure
Interests
o
Different
activity types
·
Experiential
Characteristics
o
Sensory
experiences
o
Relational
experiences
o
Action
experiences
o
Thinking
experiences
·
Program
Features
o
Price
o
Organization
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Target
market
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-a
homogenous set of actual and potential buyers with whom an organization seeks
to exchange
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Market
analysis
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research
to be completed in order to describe market profile
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Market
research
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systematic
and objective process for generating information to be used in decision making
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Market
share
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a
measure of how dominant a business is within its service sector
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Word
of mouth (WOM)-
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informal
evaluations of a company’s past performance or potential value or of trip
experiences through verbal communications to friends or family
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Moment
of truth
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an
emotionally charged contact with a client is where a timely and appropriate
response can make a big difference in customer satisfaction
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Staff
empowerment
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-
training, provision of needed tools and materials, and then delegation of
responsibility from managers to frontline employees so they will take steps
that benefit both the client and the company
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Measures of service quality
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•
Reliability
•
Were participant expectations
and advertised promises met?
•
Tangibles
•
Was the physical environment
well designed, neat, orderly, clean, and appropriately climate controlled?
•
Responsiveness
•
Were guest requests responded
to promptly and appropriately with courtesy?
•
Assurance
•
Were staff credible and
assuring thereby instilling confidence in their abilities to meet guest needs?
•
Empathy
•
Were staff sensitive and
understanding to the plight of guests?
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Segmentation variables
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•
Behavioral
Characteristics
o Activity
Skill Level
o Usage
Rates
o Loyalty
to Activity
o Specialization
in Activity
o Benefits
Sought
•
Socio-demographics
o Education
(income/health)
o Age
or life cycle stage
o Gender
o Employment
status
o Family
or Marital Status
o Ethnicity
•
Synchnographics
(studying time as a variable that may define specific markets)
o Time
of day
o Day
of week
o Season
o Duration
of program
•
Experiential
Characteristics
o Sensory
experiences
o Relational
experiences
o Action
experiences
o Thinking
experiences
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Psychographic Segmentation
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Divides consumers into groups based on these
aspects:
o Behavior
patterns
o Lifestyle
o Personality
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Psychographic Categories
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• Psychocentrics
o Familiar
travel destinations
o Common
activities at destinations
• Allocentrics
o Nontourist
destinations
o New
experiences (unusual destinations)
o Sense of
discovery (visit before others)
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