Description should include
- advantages
- marketing to a certain customer group is more precise
- business better satisfies the marketing concept
- disadvantages
- cost
- time
- faulty segmentation choices caused by incorrect research data or interpretation.
Process/Skill Questions:
- What demographics might be considered most important for market segmentation within the travel and tourism industry? How might this data be used to better ensure a business’ success?
- How can customers be segmented?
- Which methods of market segmentation might be most advantageous in the travel and tourism industry?