Question

Outlined in chapter 4, detailed the concepts of the marketing segmentation variables - describe in detail each demographics.

Book - Hospitality Marketing Management by Bojanic, David C.; Reid, Robert D. Edition: 6 ISBN: 9781119195122

Answer 1

Introduction-

The concept of market segmentation variables -Market segmentation typically forms groups of similar people. The characteristics is used to determine if the people are similar are called segmentation variables, For example if segmenting a market is based on income of people than the income is said to be as market segment variable.

When people talk about segmented variable they generally refers to one of the following

• A single variable that is used to allocate people to segments.
• A set of variable that are used in a segmentation algorithm.
• A variable in a datafile or database that records segment membership
• A set of variable that is used in predictive statistical algorithm to predict segmentation membership.
• A set of variable which uses people to allocate people to segments based on logical relationship.

The following are the demographics described in detail-

a- Age- One of the first variable of demographic segmentation is age, because the consumer wants change according to their change in their age for example a young person look for a phone to communicate whereas a profession experienced individual want a communication channel with various features such as email and file editing support. As the basic function of both are same but the want according to age vary.

b- Life cycle stage- A need of particular consumer most of the time depends on the life cycle just like a toddler need an infant food , a child need a toy while a middle aged need an insurance plan whereas the old age person needs a retirement plan, these demographies are not termed as age demographies as the customer is in its different phase of life.

c- Gender- Preference differs depending on their gender as said mens are from mars womens are from venus for example mostly seen as mens are always interested in the latest technology whereas the womens always attracted towards the latest fashion trends according their are product in the market which focus according to gender like clothing, deodrants,footwear, accessories etc.

d- Income - When talk of automobiles says a car like BMW, Ferrari, Mercedes, focuses on customer who want quality along with luxury. so it is obvious that the target group of such product will be the higher income group people. Thus income can also be used to define customer group from apopulation.

e- Religion, Race, and Nationality - Advertisement of a mass brand product like pepsi and coca-cola such brands have their own global advertisement but also have specific advertisement depending on the country, the message of these advertise are different based on the local custom, religion as well as nation.