From Heritage Marketing
Market segmentation a definition
Market segmentation is the process of dividing a total market (or sub-market) using the principles identified above in order to create one or more homogeneous groups or segments that can then be targeted effectively, based on the accessibility of these customers and the resources of the organization.
Segmentation research began in 1956 and, just like many principles in marketing, emerged from the academic discipline of economics. Segmentation is the key that unlocks the door to a group of consumers for an organization; it must then be backed by appropriate targeting (choice and combination of media channels to use, packaging, timing of launch, etc.) and the wider issue of positioning the organization in the marketplace as either a cost-leader or differentiator.
Almost everyone is in the market for one or more aspects of heritage, directly or indirectly, whether this is gained personally, locally, nationally or internationally. At the very least, the vast majority of people around the world will be exposed at some point in their lives or throughout their lifetime, either through an educational link or tourism (or perhaps just stories and rituals that are handed down ), to something from the past no one can really get away from the past.
Research into segmentation and its application for organizations has advanced considerably over the years. At a recent conference in the UK, I was impressed by one of the foremost researchers on strategic marketing, Lyndon Simkin, and his thoughts on segmentation as a systematic...
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Topics of Interest
Market and marketing research The aspirations of prospective customers (or other customers: existing ones, lapsed ones, etc.) should be identified through the processes of market and marketing...
About this chapter The segmentation process is a crucial aspect of strategic marketing. This chapter explores both consumer and organizational segmentation. Initially both consumer and organizational...
Summary After conducing external environmental scanning, product analysis, and a SWOT analysis, segmentation is the next step in the marketing process. Since the city cannot change as a product,...
Segmentation and Targeting Now that tourism marketers have an understanding of what their city has to offer to potential tourists, they may be eager to begin promotion. In their enthusiasm to promote...
Segmentation Methods Segmentation is the process of dividing potential consumers into groups based on shared characteristics. There are probably as many methods to segment consumers as there are...
