Travel Plan and Market Segmentation Assignment Example

Essays on Travel Plan and Market Segmentation Assignment The paper "Travel Plan and Market Segmentation" is a wonderful example of an assignment on tourism. Lifestyles and lifestyle values have many factors within a particular group of people, which affect their way of life other than the cultural and religious orientation. Lifestyle segmentation allows marketers to look at the global consumers a heterogeneous group of individuals who fall under the same segmentation as a basis for the development of products or even services (Baines et al 2005). Lifestyle in this case, therefore, defines the person’s basic reactions and behavior. In many markets, there are diverse consumers who have differing lifestyles, backgrounds, and even income levels. This, therefore, means that there is no single marketing mix that can be used to cover or even attract all sectors of a market. By understanding the consumer, marketers get a clear chance to develop a mere efficient and effective marketing strategy (Fraj Martinez 2006).In any given market, ther e are many variables in consumer needs, preferences and most importantly the purchasing power which attracts consumers with a single marketing mix. There is a need to identify the factors that affect purchase decisions and then group consumers according to the presence or even the absence of the said factors (Divine Lepisto 2005). In other words, there is a need to have the marketing strategies adjusted so that they can meet the needs of a particular group. This division of the market into smaller and relatively homogenous groups is the one referred to as market segmentation.A market segment, in this case, must have a definite presence of a measurable purchasing power and size. In this case, the two couples fall under different categories and therefore the design of the product will have to be different even though there are some which they can handle at the same time (Bojanic 2007). The difference will in most cases be determined by the price and product which are mostly correlate d to their life stage difference and not age per se.It is worth noting that, this segmentation approaches a life stage that determines the consumer purchasing behavior primarily. As people move from one stage of life to another, they become consumers for different types of goods and services. In this case, Couple A, who has just married have a differing profile as compared to couple B who happens to be their parents. To satisfy these groups, then there is a need to offer them the best value possible in accordance with their group type.This report is about a travel plan for two groups which are:Couple A - Young Optimism ValsCouple B - Visible Achievements ValsThe two groups are looking for different vacations but in the same region. However, due to the difference in their lifestyles, their packages are going to be different.Vacation VenueVeniceVenice has extraordinary tourist attractions to show off which are mostly enhanced by their waterfront location.