This document discusses the use of available tourism data for marketing research and policymaking. It defines key terms like marketing and discusses the need for meaningful research before committing resources to new markets. A variety of tourism data sources are described, like entry/departure cards, visitor surveys, and online reviews, which can provide insights into markets, customers, and competitors. Segmentation analyses of key markets like the US and UK are also summarized. The document advocates using demographic and lifestyle data to identify high-value customer groups to target marketing towards.
The document discusses Front-Door Media and Marketing Services, a company that specializes in targeted direct mail marketing delivered directly to consumers' front doors. The summary highlights that Front-Door uses data profiling and segmentation to precisely target consumers. Their specialized media includes direct mail pieces like postcards, letters, and packages delivered to increase brand awareness, coupon redemptions, and sales. Front-Door tracks campaign metrics like cost per coupon redeemed to measure return on investment.
The document discusses marketing research and the marketing research process. It describes 5 marketing problems that research could help address, such as a restaurant wanting to understand student dining habits and a company assessing advertising effectiveness. The 6 steps of the marketing research process are outlined as defining problems/objectives, developing a research plan, collecting information, analyzing the information, presenting findings, and making decisions. Various sources of marketing data are also examined, including internal records, secondary data, publicly and privately generated data, and methods for collecting primary data both online and in real-space.
The document discusses market segmentation, which involves identifying groups of customers with similar needs and selecting attractive segments to target. It explains that market segmentation involves four steps: identifying product-related customer needs, grouping customers with similar needs, describing each customer group, and selecting segments to serve. The purpose of marketing is to help consumers experience desires that are already within them by bringing those desires out through satisfying products and services.
Market intelligence involves collecting and analyzing data to gain insights into future market trends and conditions. It uses secondary research like public data and primary research like surveys to understand opportunities and inform strategic planning. The process involves gathering a large amount of information from various sources, identifying patterns, and using those patterns to predict what will happen in order to effectively compete in the market.
International marketing research involves systematically gathering and analyzing information to inform marketing decisions in foreign markets. It follows a multi-step process that includes defining the problem, developing a research plan, collecting primary or secondary data while addressing issues like translation and cultural differences, analyzing the data, and reporting results. Sales forecasting methods for international markets include expert opinions, time series analysis, and analogy-based approaches.
Marketing intelligence involves gathering and analyzing information about markets, customers, and competitors to inform strategic decision making. It includes insights into market size and trends, customer preferences and loyalty, competitor strategies and investments. Metrics used include financial metrics like profit and customer lifetime value, as well as non-financial metrics like brand awareness and customer satisfaction. Marketing intelligence activities can be aimed at demand generation, branding, customer relationships, shaping markets, and building infrastructure. Companies can improve their marketing intelligence by training salespeople, motivating distributors, networking externally, setting up advisory panels, using government data, buying external information, and collecting online customer feedback.
The document discusses Front-Door Media and Marketing Services, a company that specializes in targeted direct mail marketing delivered directly to consumers' front doors. The summary highlights that Front-Door uses data profiling and segmentation to precisely target consumers. Their specialized media includes direct mail pieces like postcards, letters, and packages delivered to increase brand awareness, coupon redemptions, and sales. Front-Door tracks campaign metrics like cost per coupon redeemed to measure return on investment.
The document discusses marketing research and the marketing research process. It describes 5 marketing problems that research could help address, such as a restaurant wanting to understand student dining habits and a company assessing advertising effectiveness. The 6 steps of the marketing research process are outlined as defining problems/objectives, developing a research plan, collecting information, analyzing the information, presenting findings, and making decisions. Various sources of marketing data are also examined, including internal records, secondary data, publicly and privately generated data, and methods for collecting primary data both online and in real-space.
The document discusses market segmentation, which involves identifying groups of customers with similar needs and selecting attractive segments to target. It explains that market segmentation involves four steps: identifying product-related customer needs, grouping customers with similar needs, describing each customer group, and selecting segments to serve. The purpose of marketing is to help consumers experience desires that are already within them by bringing those desires out through satisfying products and services.
Market intelligence involves collecting and analyzing data to gain insights into future market trends and conditions. It uses secondary research like public data and primary research like surveys to understand opportunities and inform strategic planning. The process involves gathering a large amount of information from various sources, identifying patterns, and using those patterns to predict what will happen in order to effectively compete in the market.
International marketing research involves systematically gathering and analyzing information to inform marketing decisions in foreign markets. It follows a multi-step process that includes defining the problem, developing a research plan, collecting primary or secondary data while addressing issues like translation and cultural differences, analyzing the data, and reporting results. Sales forecasting methods for international markets include expert opinions, time series analysis, and analogy-based approaches.
Marketing intelligence involves gathering and analyzing information about markets, customers, and competitors to inform strategic decision making. It includes insights into market size and trends, customer preferences and loyalty, competitor strategies and investments. Metrics used include financial metrics like profit and customer lifetime value, as well as non-financial metrics like brand awareness and customer satisfaction. Marketing intelligence activities can be aimed at demand generation, branding, customer relationships, shaping markets, and building infrastructure. Companies can improve their marketing intelligence by training salespeople, motivating distributors, networking externally, setting up advisory panels, using government data, buying external information, and collecting online customer feedback.
This document discusses market segmentation and different types of segmentation including demographic, behavioral, psychographic, and geographic. Market segmentation involves dividing the market into groups based on common characteristics so that marketing strategies can be tailored to each segment. The key types of segmentation are defined and their advantages and disadvantages are outlined. Demographic segmentation uses variables like age, gender, income while behavioral looks at purchasing behaviors. Psychographic considers personality traits and lifestyle. Geographic divides the market by location. Understanding segmentation allows targeting customized marketing messages at responsive audience segments.
The document provides an executive summary and recommendations from a student group's analysis of whether a Habitat for Humanity ReStore should stay at its current location, expand, or move. The group conducted primary research including customer surveys and secondary research analyzing the store's sales data and local real estate market. Key findings were that most customers are retirees who hear about the store through word-of-mouth and visit 1-4 times per month. The group recommends remaining at the current location due to moving costs and lost sales, optimizing floor space for top sellers, implementing inventory management, increasing marketing to younger demographics, and adjusting hours.
This document discusses database marketing and how it has become necessary for large retail chains and banks due to their inability to know each customer individually. It covers customer databases, data warehousing, and data mining. Database marketing involves using computer technology to track customer transactions and profiles to communicate with customers individually. The document then discusses how RFM analysis can segment customers into groups based on recency, frequency, and monetary value of purchases to implement targeted marketing campaigns. Maintaining high customer loyalty and retention is important for business profits. Database marketing systems combine customer, transaction, and other data with data analytics to generate targeted marketing decisions and customer clusters. Both internal and external data are important for database marketing analysis.
GCSE Business Studies presentation which covers market mapping / perceptual mapping / position mapping, together with market segments and gaps in the market.
This document provides an overview of key concepts in marketing management including:
1. It defines marketing as a social and managerial process to obtain needs and wants through creating, offering, and exchanging products of value.
2. It discusses the importance of understanding customer needs, wants, and demands rather than focusing on the physical products themselves.
3. It outlines the marketing process which involves concept development, analysis of market opportunities, market strategy design, market testing, and implementation.
4. It discusses different marketing philosophies like production, product, sales, and societal marketing concepts which influence how organizations approach marketing activities.
Market segmentation involves dividing a market into subgroups of customers with common needs and characteristics in order to more effectively target marketing strategies. It allows companies to focus resources on the most promising customer segments. Key techniques for segmentation include factor analysis, hierarchical clustering, and k-means clustering, which group customers based on surveyed attributes. Validating segments through profiling against other variables ensures the segments are meaningful and distinct.
The document discusses frameworks and tools for analyzing market opportunities. It outlines 7 steps in a market opportunity analysis framework: 1) identify unmet customer needs, 2) identify target customers, 3) assess competitive advantage, 4) assess company resources, 5) assess technology readiness, 6) specify the opportunity, and 7) assess attractiveness. It also describes key environments to analyze including customers, technology, company capabilities, and competition to identify market "sweet spots". Finally, it provides guidance on how to identify unmet needs, target customers, assess advantages, resources, and technology readiness.
The document discusses various aspects of conducting marketing research and forecasting demand, including:
1. It defines marketing research as the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation.
2. It outlines the typical marketing research process of defining the problem, developing a research plan, collecting information, analyzing it, and presenting findings to make decisions.
3. It discusses different types of marketing research approaches, instruments, sampling plans and contact methods used to collect both quantitative and qualitative data.
Introduction to Marketing Intelligence - Part Icommandeleven
This document discusses the importance of marketing intelligence and using metrics to measure marketing performance. It provides examples of how companies like Best Buy and Porsche have successfully implemented marketing intelligence strategies. Best Buy analyzed customer data to identify key segments like "Jills" and customized marketing efforts for different stores. Porsche tracked a new vehicle launch campaign across direct mail and their website. The document also reviews how DuPont used NASCAR sponsorships and print advertising to build brand awareness for their Tyvek homewrap product while seeking to measure marketing performance. Overall it emphasizes that market leaders employ data-driven marketing approaches and metrics to optimize efforts.
This document outlines the process and challenges of international marketing research. It describes the various types of research conducted, including industry analyses, buyer behavior studies, product testing, and pricing studies. The key steps in the international marketing research process are defined as: 1) identifying the research problem and objectives, 2) setting specific objectives, 3) developing a research plan, 4) defining information sources, 5) designing data collection instruments, 6) deciding on sampling, and 7) collecting, analyzing and interpreting data. Challenges include issues of conceptual and functional equivalence of data across cultures, availability and reliability of secondary data, and the higher costs of primary data collection in foreign markets. Decision support systems can help with sales forecasting and point of
The House of Marketing, Belgium's first centre of marketing expertise, shows you an introduction and short guide to customer segmentation, including four options and simple steps to deliver measurable benefits through segmentation. Contact: www.thom.eu
This document provides an overview of market research and outlines key components to include in a market profile, customer profile, and competitor profile. It defines market research and highlights its importance for business planning. The main components of a market profile are identified as market definition, size, growth, segments, trends, and relationships. Customer profiles should analyze buying behavior, demographics, and socioeconomic factors. Competitor profiles involve comparing products/services and identifying primary competitors. The document recommends secondary research resources and tips for selecting accurate and timely sources.
This document discusses key concepts in marketing research and the marketing research process. It defines marketing research, marketing information systems, and marketing dashboards. It outlines the 5 steps in the marketing research process and discusses the differences between primary and secondary data, qualitative and quantitative research, populations and samples. Finally, it notes that managers use research results to make marketing decisions.
Market segmentation involves dividing a market into groups of consumers who are similar in specific characteristics and will respond similarly to marketing strategies. There are four main types of market segmentation: demographic segmentation which divides by variables like age, income, gender; behavioral segmentation which divides by behaviors like usage rate or benefits sought; psychographic segmentation which divides by personality traits, values, attitudes; and geographic segmentation which divides by location. Effective segmentation allows customized marketing messages to meet the specific needs of different consumer groups.
The document discusses various steps and concepts related to identifying business opportunities including generating ideas, screening opportunities, formulating business concepts, and conducting market analysis. It describes scanning the external environment to identify customer needs and macro trends. The screening process involves analyzing opportunities at the personal and firm level. Methods of collecting market intelligence like surveys and publications are outlined. Conducting an environmental analysis and identifying threats and opportunities is described as part of formulating the business concept. Key aspects of market analysis like market size, segments, trends, and industry cost structure are also summarized.
Creating Products and Pricing Strategies to Meet Customers' Needs.pptxMSShorts1
The document discusses various marketing concepts including the marketing concept, the 5 Ps of marketing (product, price, place, promotion, people), market segmentation, the product life cycle, and product and service pricing strategies. It explains that marketing involves understanding customer needs and providing goods/services to meet those needs. Key aspects of developing a marketing strategy are choosing target markets and developing competitive advantages through differentiation. The document also covers buyer behavior influences and classifications of consumer and business products.
Marketing intelligence involves gathering everyday market information and analyzing it to make accurate decisions regarding market opportunities, strategies, and development. It is necessary for determining customer needs and preferences, understanding competitors, and entering new markets. Companies can improve their marketing intelligence by training salespeople to gather information, motivating distributors to share insights, researching competitors, gathering customer feedback, utilizing government data, purchasing external reports, and collecting online customer reviews.
The document discusses channels and metrics for digital engagement. It provides steps for effective digital engagement including choosing goals and key performance indicators (KPIs), defining channels, deciding on key metrics, and implementing and monitoring the channel strategy. It discusses various marketing metrics like market share, digital metrics like page impressions and click-through rate. It emphasizes integrating channels and metrics and using tools like CRM and marketing automation to plan campaigns and analyze performance.
1. The document discusses modern marketing information systems and their components which include internal records, marketing intelligence systems, marketing decision support systems, and marketing research.
2. It also discusses methods for collecting marketing intelligence including training sales forces, motivating distributors, networking externally, setting up customer advisory panels, and collecting online customer feedback.
3. Marketing research is defined as the systematic and objective process of generating information to aid in making marketing decisions, and the types of marketing research are described as basic and applied research.
Marketing in Travel & Tourism: The Role of Marketing as a ToolKaren Houston
The document discusses strategic marketing planning in travel and tourism. It covers analyzing an organization's environment and strengths to develop a sustainable plan. A strategy sets the overall direction and considers market trends, competitors, and customers' needs. Strategic planning answers questions about an organization's current position, emerging opportunities, future goals, and decisions needed. Tools like Ansoff's matrix and the Boston matrix help analyze growth strategies and product portfolios. Competitive advantages include cost leadership, differentiation, and focus. Research methods gather data to inform marketing decisions.
This document discusses market segmentation and different types of segmentation including demographic, behavioral, psychographic, and geographic. Market segmentation involves dividing the market into groups based on common characteristics so that marketing strategies can be tailored to each segment. The key types of segmentation are defined and their advantages and disadvantages are outlined. Demographic segmentation uses variables like age, gender, income while behavioral looks at purchasing behaviors. Psychographic considers personality traits and lifestyle. Geographic divides the market by location. Understanding segmentation allows targeting customized marketing messages at responsive audience segments.
The document provides an executive summary and recommendations from a student group's analysis of whether a Habitat for Humanity ReStore should stay at its current location, expand, or move. The group conducted primary research including customer surveys and secondary research analyzing the store's sales data and local real estate market. Key findings were that most customers are retirees who hear about the store through word-of-mouth and visit 1-4 times per month. The group recommends remaining at the current location due to moving costs and lost sales, optimizing floor space for top sellers, implementing inventory management, increasing marketing to younger demographics, and adjusting hours.
This document discusses database marketing and how it has become necessary for large retail chains and banks due to their inability to know each customer individually. It covers customer databases, data warehousing, and data mining. Database marketing involves using computer technology to track customer transactions and profiles to communicate with customers individually. The document then discusses how RFM analysis can segment customers into groups based on recency, frequency, and monetary value of purchases to implement targeted marketing campaigns. Maintaining high customer loyalty and retention is important for business profits. Database marketing systems combine customer, transaction, and other data with data analytics to generate targeted marketing decisions and customer clusters. Both internal and external data are important for database marketing analysis.
GCSE Business Studies presentation which covers market mapping / perceptual mapping / position mapping, together with market segments and gaps in the market.
This document provides an overview of key concepts in marketing management including:
1. It defines marketing as a social and managerial process to obtain needs and wants through creating, offering, and exchanging products of value.
2. It discusses the importance of understanding customer needs, wants, and demands rather than focusing on the physical products themselves.
3. It outlines the marketing process which involves concept development, analysis of market opportunities, market strategy design, market testing, and implementation.
4. It discusses different marketing philosophies like production, product, sales, and societal marketing concepts which influence how organizations approach marketing activities.
Market segmentation involves dividing a market into subgroups of customers with common needs and characteristics in order to more effectively target marketing strategies. It allows companies to focus resources on the most promising customer segments. Key techniques for segmentation include factor analysis, hierarchical clustering, and k-means clustering, which group customers based on surveyed attributes. Validating segments through profiling against other variables ensures the segments are meaningful and distinct.
The document discusses frameworks and tools for analyzing market opportunities. It outlines 7 steps in a market opportunity analysis framework: 1) identify unmet customer needs, 2) identify target customers, 3) assess competitive advantage, 4) assess company resources, 5) assess technology readiness, 6) specify the opportunity, and 7) assess attractiveness. It also describes key environments to analyze including customers, technology, company capabilities, and competition to identify market "sweet spots". Finally, it provides guidance on how to identify unmet needs, target customers, assess advantages, resources, and technology readiness.
The document discusses various aspects of conducting marketing research and forecasting demand, including:
1. It defines marketing research as the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation.
2. It outlines the typical marketing research process of defining the problem, developing a research plan, collecting information, analyzing it, and presenting findings to make decisions.
3. It discusses different types of marketing research approaches, instruments, sampling plans and contact methods used to collect both quantitative and qualitative data.
Introduction to Marketing Intelligence - Part Icommandeleven
This document discusses the importance of marketing intelligence and using metrics to measure marketing performance. It provides examples of how companies like Best Buy and Porsche have successfully implemented marketing intelligence strategies. Best Buy analyzed customer data to identify key segments like "Jills" and customized marketing efforts for different stores. Porsche tracked a new vehicle launch campaign across direct mail and their website. The document also reviews how DuPont used NASCAR sponsorships and print advertising to build brand awareness for their Tyvek homewrap product while seeking to measure marketing performance. Overall it emphasizes that market leaders employ data-driven marketing approaches and metrics to optimize efforts.
This document outlines the process and challenges of international marketing research. It describes the various types of research conducted, including industry analyses, buyer behavior studies, product testing, and pricing studies. The key steps in the international marketing research process are defined as: 1) identifying the research problem and objectives, 2) setting specific objectives, 3) developing a research plan, 4) defining information sources, 5) designing data collection instruments, 6) deciding on sampling, and 7) collecting, analyzing and interpreting data. Challenges include issues of conceptual and functional equivalence of data across cultures, availability and reliability of secondary data, and the higher costs of primary data collection in foreign markets. Decision support systems can help with sales forecasting and point of
The House of Marketing, Belgium's first centre of marketing expertise, shows you an introduction and short guide to customer segmentation, including four options and simple steps to deliver measurable benefits through segmentation. Contact: www.thom.eu
This document provides an overview of market research and outlines key components to include in a market profile, customer profile, and competitor profile. It defines market research and highlights its importance for business planning. The main components of a market profile are identified as market definition, size, growth, segments, trends, and relationships. Customer profiles should analyze buying behavior, demographics, and socioeconomic factors. Competitor profiles involve comparing products/services and identifying primary competitors. The document recommends secondary research resources and tips for selecting accurate and timely sources.
This document discusses key concepts in marketing research and the marketing research process. It defines marketing research, marketing information systems, and marketing dashboards. It outlines the 5 steps in the marketing research process and discusses the differences between primary and secondary data, qualitative and quantitative research, populations and samples. Finally, it notes that managers use research results to make marketing decisions.
Market segmentation involves dividing a market into groups of consumers who are similar in specific characteristics and will respond similarly to marketing strategies. There are four main types of market segmentation: demographic segmentation which divides by variables like age, income, gender; behavioral segmentation which divides by behaviors like usage rate or benefits sought; psychographic segmentation which divides by personality traits, values, attitudes; and geographic segmentation which divides by location. Effective segmentation allows customized marketing messages to meet the specific needs of different consumer groups.
The document discusses various steps and concepts related to identifying business opportunities including generating ideas, screening opportunities, formulating business concepts, and conducting market analysis. It describes scanning the external environment to identify customer needs and macro trends. The screening process involves analyzing opportunities at the personal and firm level. Methods of collecting market intelligence like surveys and publications are outlined. Conducting an environmental analysis and identifying threats and opportunities is described as part of formulating the business concept. Key aspects of market analysis like market size, segments, trends, and industry cost structure are also summarized.
Creating Products and Pricing Strategies to Meet Customers' Needs.pptxMSShorts1
The document discusses various marketing concepts including the marketing concept, the 5 Ps of marketing (product, price, place, promotion, people), market segmentation, the product life cycle, and product and service pricing strategies. It explains that marketing involves understanding customer needs and providing goods/services to meet those needs. Key aspects of developing a marketing strategy are choosing target markets and developing competitive advantages through differentiation. The document also covers buyer behavior influences and classifications of consumer and business products.
Marketing intelligence involves gathering everyday market information and analyzing it to make accurate decisions regarding market opportunities, strategies, and development. It is necessary for determining customer needs and preferences, understanding competitors, and entering new markets. Companies can improve their marketing intelligence by training salespeople to gather information, motivating distributors to share insights, researching competitors, gathering customer feedback, utilizing government data, purchasing external reports, and collecting online customer reviews.
The document discusses channels and metrics for digital engagement. It provides steps for effective digital engagement including choosing goals and key performance indicators (KPIs), defining channels, deciding on key metrics, and implementing and monitoring the channel strategy. It discusses various marketing metrics like market share, digital metrics like page impressions and click-through rate. It emphasizes integrating channels and metrics and using tools like CRM and marketing automation to plan campaigns and analyze performance.
1. The document discusses modern marketing information systems and their components which include internal records, marketing intelligence systems, marketing decision support systems, and marketing research.
2. It also discusses methods for collecting marketing intelligence including training sales forces, motivating distributors, networking externally, setting up customer advisory panels, and collecting online customer feedback.
3. Marketing research is defined as the systematic and objective process of generating information to aid in making marketing decisions, and the types of marketing research are described as basic and applied research.
Marketing in Travel & Tourism: The Role of Marketing as a ToolKaren Houston
The document discusses strategic marketing planning in travel and tourism. It covers analyzing an organization's environment and strengths to develop a sustainable plan. A strategy sets the overall direction and considers market trends, competitors, and customers' needs. Strategic planning answers questions about an organization's current position, emerging opportunities, future goals, and decisions needed. Tools like Ansoff's matrix and the Boston matrix help analyze growth strategies and product portfolios. Competitive advantages include cost leadership, differentiation, and focus. Research methods gather data to inform marketing decisions.
Topics Covered:
1) Marketing
2) International vs Domestic Marketing
3) 4P's of international marketing
4) How to make your company global
5) Segmentation, Targeting, Positioning in International market
6) Social Marketing
7) Ecommerce Marketing
8) International Terms
Tourism marketing utilizes technology in several key ways:
1. Websites, emails, and digital marketing allow tourism businesses to connect with customers online and track return on investment.
2. Social media gives businesses an online presence and helps them rank higher in search engines.
3. E-tourism incorporates technology into all business functions and processes to improve competitiveness in the industry.
4. Specific tourism software products help operators manage operations like bookings, reservations, and planning.
Digital Marketing Course Week 2: Introduction to Digital MarketingAyca Turhan
Digital marketing has largely replaced traditional marketing methods due to changes in how consumers access and share information online. Key aspects of digital marketing include segmentation and targeting of online audiences using measurable digital tactics like search, social media, and online advertising. Effective digital strategies are data-driven, focus on key objectives and metrics, and continuously optimize tactics based on results. Market research is also increasingly done online to gather qualitative and quantitative insights about target customers, competitors, and industry trends.
This document provides an overview of key marketing concepts including the 4Ps of marketing (product, price, place, promotion), market research, analysis, planning, strategies, advertising, competitor analysis, and SWOT analysis. It explains that marketing is the process of communicating products to customers and involves product research, determining price value, distribution access, and promotional information. Market research provides statistics on customer tastes, needs, and trends. Marketing planning forms a strategy for marketing activities considering financial, product, sales, and advertising data. Competitor analysis assesses other businesses' strengths, weaknesses, and how a company can position itself competitively. A SWOT analysis identifies internal strengths and weaknesses and external opportunities and threats to help create a strategic marketing
The document provides information about marketing environment, marketing research, marketing information system, consumer behavior, and new product development. It discusses the key concepts such as:
1. The marketing environment refers to internal and external forces that affect marketing decisions. Marketing research and information systems help understand the environment.
2. Consumer behavior is influenced by personal, psychological, and social factors and leads to purchase decisions. Understanding consumer behavior is important for marketers.
3. The new product development process involves idea generation, screening, testing, developing a market strategy, analyzing business and financial aspects, test marketing, and commercialization. Getting new products right requires systematic analysis.
This document discusses the global marketing mix and its key elements - product, price, place, and promotion. It addresses several challenges in applying the marketing mix in a global context. For products, it notes the importance of innovation, flexibility, and cultural considerations. Pricing must account for costs, customers, competition and channels. Promotion requires determining budgets and strategies for advertising, media decisions and agencies. Distribution involves selecting appropriate international channels and middlemen based on the target market and goals. The marketing mix elements pose many challenges but are crucial for companies operating globally.
This presentation gives a clear definition of what is segmentation. Various examples have been taken to provide a better understanding of Segmentation with particular reference to financial services and products.
International Marketing Management PowerPoint Presentation Slides SlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
The document discusses different approaches to identifying target customers, including mass marketing, targeted marketing, and mass customization. It describes strategic versus tactical targeting and outlines factors to consider like target compatibility, attractiveness, and customer value profiles. Various ways to segment markets are presented, such as demographically, geographically, behaviorally, and psychographically. Lastly, it provides guidance on evaluating market segments and determining appropriate segmentation strategies.
Use of Data Mining in Marketing
Different tools for Marketing
Case Study
Data mining in marketing
Knowledge Base Marketing
Market Basket
Social Media Marketing
and many more
BMW wants to segment the luxury car market further based on customer usage experience rather than just product attributes. It identified two key customer segments - "The Better Driver" who values driving experience over other luxury features and is willing to pay a premium. BMW aims to differentiate its product, pricing, promotion and place strategies from competitors like Mercedes, Lexus and Infiniti for these targeted segments.
RJ Reynolds analyzed cigarette brand usage patterns in Chicago and found they varied by neighborhood demographics. It segmented the market into high education, blue-collar and African American consumer groups concentrated in different city areas. RJR then allocated its promotion spending accordingly across its brands which each segment preferred like low tar cigarettes in high education areas.
The document discusses the importance of marketing information systems for companies in today's changing marketing environment. It outlines three key changes driving the need for real-time market data: from local to global marketing, from buyer needs to wants, and from price to non-price competition. It then describes the components of a modern marketing information system, including internal records, marketing intelligence, marketing research, and how they are used to assess needs, develop information, distribute it to decision makers. Effective MIS allows companies to quickly understand customer preferences and respond to market changes.
The document discusses the scope of marketing and the decisions that marketers make. It covers different demand states that marketers must address, such as negative demand where consumers dislike a product, and no demand where consumers are unaware or uninterested in a product. The document also outlines various marketing concepts and tools that marketers use, such as segmentation, branding, and the marketing mix. It examines the role of marketing in organizations and trends affecting the evolving nature of marketing.
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HR search is critical to a company's success because it ensures the correct people are in place. HR search integrates workforce capabilities with company goals by painstakingly identifying, screening, and employing qualified candidates, supporting innovation, productivity, and growth. Efficient talent acquisition improves teamwork while encouraging collaboration. Also, it reduces turnover, saves money, and ensures consistency. Furthermore, HR search discovers and develops leadership potential, resulting in a strong pipeline of future leaders. Finally, this strategic approach to recruitment enables businesses to respond to market changes, beat competitors, and achieve long-term success.
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdfonlyfansmanagedau
In the competitive world of content creation, standing out and maximising revenue on platforms like OnlyFans can be challenging. This is where partnering with an OnlyFans agency can make a significant difference. Here are five key benefits for content creators considering this option:
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
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Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
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1. Use of Available Tourism Data for
Marketing Research & Policy
Tyrone Clarke
2. Definition of Marketing
• Marketing consists of the strategies and tactics used
to identify, create and maintain satisfying
relationships with customers that result in value for
both the customer and the marketer.
• A social and managerial process by which
individuals and groups obtain what they need and
want through creating and exchanging products and
value with others (Kotler, 1988,p.3)
• The management process responsible for
identifying, anticipating and satisfying customers’
requirements profitably (CIM, 1984)
3. The need for meaningful Research
• Before committing to the complexities and costs inherent in
exporting our tourism services, it is absolutely essential that we
undertake some degree of research to better understand the foreign
markets that we will be competing in and the consumers to whom
we will be selling.
• It is important that this research is meaningful; simply compiling
statistics and other facts about a market without any purpose, is of
limited value.
• Any information that we collect needs to be compared, interpreted
and conclusions drawn.
• Our marketing research activities should be planned and practical
exercises leading to specific decisions that drive our marketing
strategies.
• There is a plethora of data available
4. Market research versus marketing research
• Market research is about understanding the broader
marketplace in which we intend to compete.
• Marketing research, on the other hand, is about
understanding what 'package' of marketing elements (i.e.
the product, price, promotion and distribution factors) the
country will need to put together in order to meet
customer needs and to succeed in the marketplace.
• Market research is the more encompassing/broader
concept of understanding the market environment in
which you will be competing, while marketing research is
the more specific/focused view of consumer needs and
behaviour.
5. Gaining an Information Advantage
• In its role as the foundation of marketing, marketing research is
arguably marketing’s most important task. Today marketers
not only view research as a key ingredient in making marketing
decisions they also consider information to be a critical factor
in gaining advantage over competitors. Because organizations
recognize the power information has in helping create and
maintain products that offer value, there is an insatiable
appetite to gain even more insight into customers and
markets.
• Marketers in nearly all industries are expected to direct more
resources to gathering and analyzing information especially in
highly competitive markets.
• In conducting our research we also test concepts against our
competitors in order to gain further insights as to what sets us
apart and play to those strengths
6. Cost Implications
• While research is key to marketing decision making,
it does not always need to be elaborate to be
effective. Sometimes small efforts, such as doing a
quick search on the Internet, will provide the needed
information.
• However, for most marketers there are times when
more elaborate research work is needed and
understanding the right way to conduct research,
whether performing the work themselves or hiring
someone else to handle it, can increase the
effectiveness of these projects.
•
7. Marketing Decision Types of Research
• Target Markets- sales, market size; demand for product, customer characteristics, purchase
behavior, customer satisfaction, website traffic
• Product- product development; package protection, packaging awareness;
brand name selection; brand recognition, brand preference, product
positioning
• Distribution distributor interest;
• Promotion advertising recall; advertising copy testing, sales promotion response
rates, sales force compensation, traffic studies (outdoor
advertising), public relations media placement
• Pricing price elasticity analysis, optimal price setting, discount options
• External Factors competitive analysis, legal environment; social and cultural trends
• Other company image, test marketing
8. E/D Card
• The E/D card is a rich source of data for
tourism purposes. Serving both the
operational and policy aspects of the
tourism industry.
• The Caribbean is in an advantageous
position compared to larger countries who
utilize passenger surveys to estimate
tourist counts versus the Caribbean where
our data is virtually census data.
9. E/D Card
• Every permutation of data from the E/D
card is useful.
• Apart from the tourists count, this data can
be used for marketing purposes
10. E/D Card
• Today regional governments heavily
subsidize airline carriers into the region.
• Therefore it is imperative that
governments understand the implications
of their investments
• Data from the E/D cards can aid in
determining this kind of investment
– Airline load factors
– Occupancies for hotels
11. E/D Card
• Following trends from the E/D cards can
also guide in the development of supply in
terms of room stock.
• i.e if there is a heavy leaning towards a
particular type of product then countries
can invest in this type of product
12. Survey Data
• Types of surveys
– Visitor Exit Surveys
– Travel agent surveys
– Delphi pannel
– Hotel Registration information
13. The New Technology
• The Blogs (trip advisor) can also provide a rich
source of data for both the private sector as well
as government agencies.
• The private sector can use the feedback from
these sites to improve on product deficiencies
• Government can use this information as a
feedback mechanism to ensure that product
offerings are consistent with where the country
promotes itself
• In addition, rich content for advertising can come
from this unsolicited source of data
14. The New Technology
• The internet has facilitated competitive analysis
which would have been very difficult years ago.
• Tour operator /travel agent websites, airline
websites, travel sites all provide competitive
analysis on where countries are currently trading
compared to other destinations.
• Monitoring these sites consistently can also
provide insight as to the state of the market at
over time i.e a plethora of special promotions in
the market would suggest difficult times for
destinations and can trigger further market
stimuli on the part of the destination
15. Target Markets
• UK total population 60.9 million
• USA population 305 million
• Canada population 33 million
• CARICOM population 16 million
• China population 1.3 billion
16. Defining the target Market
• We have used segmentation studies in all
our major markets
• USA- PRIZM
• UK – ACORN
• CANADA – PRIZM
• EUROPE in process
• CARICOM basic data
17. Segmentation Analysis
• Addresses four fundamental marketing
questions
– Who are the target you want to reach?
– What are they like?
– Where do they live?
– How can we reach them most cost
effectively?
18. PRIZM ANALYSIS
• The strategy for identifying our marketing
targets is based on two tried and true
observations
– The customers of our product are existing
customers
– Birds of a feather flock together
19. PRIZM ANALYSIS
• Methodology
– Data Collected from E/D cards
– Names and addresses of all USA customers
– All duplicates removed from dataset
– All VFR travelers removed from dataset
– Total unique households
20. Who are the targets
• US visitors are predominantly upscale and live in
neighborhoods that run the gamut from urban to
rural
• 66.4% of all US visitors fall within 40% of US
base household count (first 2 quintiles)
– 42.6 % of US visitors fall into first quintile (20% of
total)
– Second Quintile contains 23.9% of all USA visitors to
Barbados
• 1.63 times as likely to reach our target audience
within this group
21. Game Plan Categories
Expansion Core
Index 100 ↑
NonTarget Conversion
Percent of
Game Plan Categories: US Visitors 1.61% →
• Core. There is a large proportion of customers in these clusters and households are more likely than average to be
customers.
• Expansion. Households in these clusters are more likely to be customers, but there are not many of them in either
the customer population or the base population.
• Conversion. Conversion clusters contain a significant proportion of customers; however, they represent an even
larger proportion of the base population. Therefore, indices suggest they are less likely than average to be customers.
Since these clusters represent a significant portion of total customers, they do have potential. However, because of
their under representation with respect to the base population, there are many households that have not been reached
yet. Target marketing strategies designed specifically for these clusters may attract or convert non-customers into the
Core group.
NonTarget. NonTarget clusters account for a small proportion of customer households, and indices
suggest they are less likely than average to be customers. These clusters may require further analysis for classification
due to their small numbers.
22. US Visitors
Target Number of Percent of Percent
Category Clusters Base of Index
Households US
Visitors
Core 17 37.17 62.90 188
Expansion 2 1.48 1.51 103
Conversion 4 11.76 11.11 94
NonTarget 39 49.58 24.49 49
23. Tourism Authority’s-US Visitors Target Groups
Percent of US Visitor
Older Wealthy Couples
Percent of US Visitor % Comp Index Wealthy Midlife Families
16%
Older Wealthy Couples 15.8 232 35%
Wealthy Midlife Families 12.42 204 12% Young Professionals
Young Professionals 11.93 199
Older Upper-mid Mix 17.55 157 Older Upper-mid Mix
Young Urban Mix 8.04 110 12%
Non target 34.87 55 8% Young Urban Mix
17%
Non target
Percent of Base Households
Older Wealthy Couples
Percent of Base Households % Comp Household input
Older Wealthy Couples 6.53 4,765,999 Wealthy Midlife Families
7% 6%
Wealthy Midlife Families 6.1 4,449,718 6%
Young Professionals 5.99 4,372,342 Young Professionals
11%
Older Upper-mid Mix 11.19 8,160,246
Young Urban Mix 7.33 5,350,296 Older Upper-mid Mix
Non target 62.86 45,856,109 63% 7%
Young Urban Mix
Non target
24. CORE GROUP
US Visitor
Base Analysis
Social Lifestage Households 2000-2004
Group Group Cluster Nickname % Comp % Comp Index
S1 M1 1 Upper Crust 2.21 6.37 288
S1 F1 2 Blue Blood Estates 1.40 3.80 270
S1 Y1 3 Movers & Shakers 2.29 5.05 220
U1 Y2 4 Young Digerati 1.79 5.20 290
T1 F1 5 Country Squires 2.38 5.07 213
S1 F1 6 Winner's Circle 1.48 2.61 177
U1 M1 7 Money & Brains 2.93 6.61 226
S2 Y1 8 Executive Suites 1.57 2.07 132
T1 M1 9 Big Fish, Small Pond 2.03 3.76 185
C1 M1 10 Second City Elite 1.56 2.18 140
T1 Y1 11 God's Country 1.92 3.19 166
C1 Y1 12 Brite lites, Li'l City 1.99 2.18 109
S2 M2 14 New Empty Nests 1.46 1.70 117
S2 M2 15 Pools & Patios 1.69 1.95 115
U1 Y2 16 Bohemian Mix 2.63 4.66 177
U1 M2 26 The Cosmopolitans 1.62 1.91 118
U1 F2 29 American Dreams 2.90 3.37 116
U2 Y2 31 Urban Achievers 2.44 2.49 102
TOTAL 36.31 64.18 177
25. Expansion
US Visitor
Base Analysis
Social Lifestage Households 2000-2004
Group Group Cluster Nickname % Comp % Comp Index
T1 F2 20 Fast-Track Families 0.84 0.94 113
TOTAL 0.84 0.94 113
US Visitor
Base Analysis
Social Lifestage Households 2000-2004
Group Group Cluster Nickname % Comp % Comp Index
C1 F2 13 Upward Bound 2.04 1.93 95
S2 F2 18 Kids & Cul-de-sacs 2.04 1.71 84
S2 Y1 19 Home Sweet Home 2.34 1.82 78
T2 M2 28 Traditional Times 1.99 1.72 86
U3 M4 59 Urban Elders 1.78 1.75 98
TOTAL 10.19 8.93 88
26. Forming Target Groups
Base Households US Visitor Analysis 2000-2004
Nickname
Upper Crust
Count % Comp
1,613,101 2.21
Count % Comp %Pen Index
12,047 6.37 0.75 288
Target groups were
Movers & Shakers 1,672,033 2.29 9,545 5.05 0.57 220 formed by selecting those
Big Fish, Small Pond 1,480,865 2.03 7,111 3.76 0.48 185
Older Wealthy Couples 4,765,999 6.53 28,703 15.18 0.60 232 clusters that indexed
Blue Blood Estates 1,024,348 1.40 7,179 3.80 0.70 270 above (100+) and
Country Squires 1,736,830 2.38 9,583 5.07 0.55 213
Winner's Circle 1,077,838 1.48 4,942 2.61 0.46 177 grouping those with
Fast-Track Families 610,702 0.84 1,782 0.94 0.29 113
Wealthy Midlife Families 4,449,718 6.10 23,486 12.42 0.53 204 similar demographic and
Young Digerati 1,308,793 1.79 9,828 5.20 0.75 290 socio economic
Bohemian Mix
Executive Suites
1,919,575
1,143,974
2.63
1.57
8,818
3,912
4.66
2.07
0.46
0.34
177
132
characteristics.
Young Professionals 4,372,342 5.99 22,558 11.93 0.52 199
Money & Brains 2,136,713 2.93 12,496 6.61 0.58 226
God's Country 1,402,639 1.92 6,032 3.19 0.43 166
Second City Elite 1,138,957 1.56 4,130 2.18 0.36 140
The Cosmopolitans 1,183,871 1.62 3,615 1.91 0.31 118 Target groups account for
New Empty Nests 1,063,372 1.46 3,218 1.70 0.30 117
Pools & Patios 1,234,694 1.69 3,692 1.95 0.30 115 65% of all US visitors to
Older Upper-mid Mix 8,160,246 11.19 33,183 17.55 0.41 157
the island and 37% of the
American Dreams
Brite Lites, Li'l City
2,115,686
1,455,404
2.90
1.99
6,379
4,125
3.37
2.18
0.30
0.28
116
109
USA household counts
Urban Achievers 1,779,206 2.44 4,702 2.49 0.26 102
Young Urban Mix 5,350,296 7.33 15,206 8.04 0.28 110
27. Older Wealthy Couples
US Visitor US Visitor
Life- Base Analysis Analysis
stage Social Households 2000-2004 2000-2004
PRIZMNE Clusters Group Group %Comp %Comp Index
1 Upper Crust M1 S1 2.21 6.37 288
3 Movers & Shakers Y1 S1 2.29 5.05 220
9 Big Fish, Small Pond M1 T1 2.03 3.76 185
TOTAL 6.53 15.18 232
1) Older Wealthy Couples are predominantly middle-aged and older married couples living
in expensive, single-unit homes. There is a somewhat higher than average Asian
representation in these households. These comfortable couples tend to be college-educated,
often with advanced degrees, and hold white-collar occupations with high incomes. The
median household income for this target group is $89,930. Older Wealthy Couples enjoy
travel, and are likely to be members of any frequent flyer program. When traveling
domestically, they are likely to use Continental Airlines and visit Maine, New Hampshire, or
Vermont. International travel destinations likely include European countries such as Spain,
Portugal, Ireland/UK, France, or Italy.
Older Wealthy Couples are also...
More Likely to... Less Likely to...
Have Household Income $500,000+ Have a Home Valued <$80,000
Have EBI $500,000+ Be an Income Below Poverty Family
Have a Home Valued $1,000,000+ Live in a Mobile Home or Trailer
Have a Professional School Degree Have No Vehicles in the Household
Have 2004 Household Wealth $1,000,000+ Have Only an Elementary School Education
Belong to a Country Club Eat at Shakey’s, Whataburger, or Pizza Inn
Buy Tennis Equipment Eat at Checker’s, Mazzio’s, or Godfather’s Pizza
Cruise on Royal Caribbean Rent or Buy a Music Video Tape
Contribute $50+ to PBS a Year Be a Fan of Truck Racing/Pulls
Belong to an Arts Association Eat at Sonic, Rally’s, or Captain D’s
*EBI: Effective Buying Income. Refers to after-tax income.
28. Wealthy Midlife Families
US Visitor US Visitor
Life- Base Analysis Analysis
stage Social Households 2000-2004 2000-2004
PRIZMNE Clusters Group Group %Comp %Comp Index
2 Blue Blood Estates F1 S1 1.40 3.80 270
5 Country Squires F1 T1 2.38 5.07 213
6 Winner's Circle F1 S1 1.48 2.61 177
20 Fast-Track Families F2 T1 0.84 0.94 113
TOTAL 6.10 12.42 204
2) Wealthy Midlife Families are predominantly middle-aged (35-54) married couples with
children living in expensive single-unit homes. These affluent households have a slightly
higher than average Asian representation. Adults in this group tend to have earned bachelor
and graduate degrees and hold a variety of white-collar occupations with high incomes. The
median household income for households in this group is $92,915. Wealthy Midlife Families
travel regularly and are likely to be members of Delta or USAir’s frequent flyer programs.
Their last trip was likely to have been domestic travel for business purposes and they tend to
travel by airplane on domestic business trips three or more times a year.
Wealthy Midlife Families are also...
More Likely to... Less Likely to...
Have EBI $500,000+ Live in a Multi-Unit Structure
Have Household Income $500,000+ Have a Home Valued <$80,000
Have a Home Valued $400,000-$500,000 Be an Income Below Poverty Family
Live in a Home Built 1999 – March 2004 Have EBI <$15,000
Be Employed in the Management of a Company Be a Renter
Own a Cross Country Ski Machine Eat at Arthur Treacher or Rally’s
Travel Domestically on Continental Airlines Stay at a Motel 6 on Vacation
Rent a Vehicle from Hertz or National Buy from HSN/QVC/Other
Buy Soccer Equipment Expect to Marry in the Next Year
Eat at Roy Rogers Play Any Lottery 1+ Times a Week
*EBI: Effective Buying Income. Refers to after-tax income.
29. Young Professionals
US Visitor US Visitor
Life- Base Analysis Analysis
stage Social Households 2000-2004 2000-2004
PRIZMNE Clusters Group Group %Comp %Comp Index
4 Young Digerati Y2 U1 1.79 5.20 290
8 Executive Suites Y1 S2 1.57 2.07 132
16 Bohemian Mix Y2 U1 2.63 4.66 177
TOTAL 5.99 11.93 199
3) Young Professionals are predominantly younger (<45) singles and couples living in
multi-unit housing, often in urban areas. Households in this group are three times as likely as
average to be Asian and have a slightly higher than average Hispanic representation. These
young, white-collar workers tend to have bachelor and advanced degrees and earn upper-
midscale incomes. The median household income for this group is $63,624. Young
Professionals are likely to be members of Continental or United Airlines’ frequent flyer
programs and travel internationally by railroad. Travel destinations tend to include Asia,
Italy, and France.
Young Professionals are also...
More Likely to... Less Likely to...
Use Public Transportation Live in a Mobile Home or Trailer
Live in a Structure with 50+ Units Have Farm/Forest/Fishing Occupations
Have a Home Valued $750,000-$1,000,000 Have a Home Valued <$100,000
Have Art/Design/Entertainment/Sports/Media Occup. Live in a Boat, RV, or Van
Have Legal Occupations Be in the Armed Forces
Buy Latin or Jazz Music Use CellularOne for Cell Phone Service
Buy a Travel Book Buy from Hardee’s, Golden Corral, or Shoney’s
Travel Internationally on Continental Airlines Own a Rifle or Shotgun
Have a Liberal Outlook Eat at Arthur Treacher, Papa Gino’s or Ponderosa
Exercise at a Club Buy Sporting Goods from a Catalog
30. Older Upper-mid Mix
US Visitor US Visitor
Life- Base Analysis Analysis
stage Social Households 2000-2004 2000-2004
PRIZMNE Clusters Group Group %Comp %Comp Index
7 Money & Brains M1 U1 2.93 6.61 226
10 Second City Elite M1 C1 1.56 2.18 140
11 God's Country Y1 T1 1.92 3.19 166
14 New Empty Nests M2 S2 1.46 1.70 117
15 Pools & Patios M2 S2 1.69 1.95 115
26 The Cosmopolitans M2 U1 1.62 1.91 118
TOTAL 11.19 17.55 157
4) Older Upper-mid Mix are predominantly older (45+) singles and couples living in single-
unit homes. There is a higher than average Asian representation within these households.
They are likely to have bachelor or advanced degrees and are employed in white-collar
occupations. The median household income for this group is $71,025. Members of Older
Upper-mid Mix are likely to stay at a Hilton on vacation, be a member of Delta’s frequent
flyer program, and visit Orbitz.com. Likely travel destinations include Spain/Portugal,
Ireland/UK, France, and the U.S. Virgin Islands. Airlines for international travel tend to
include Continental and Delta.
Older Upper-mid Mix are also...
More Likely to... Less Likely to...
Have Household Income $500,000+ Have a Home Valued <$80,000
Have EBI $500,000+ Live in a Mobile Home or Trailer
Have a Home Valued $500,000-$750,000 Be an Income Below Poverty Family
Have 2004 Household Wealth $1,000,000+ Have Farm/Forest/Fishing Occupations
Have Legal Occupations Live in a Boat, RV, or Van
Gamble in Atlantic City Eat at Taco Time, Sonic, or Long John Silver
Be a Member of USAir’s Frequent Flyer Program Eat at Hardee’s or Captain D’s
Travel Domestically to ME/NH/VT Use CellularOne for Cell Phone Service
Belong to a Country Club Eat at Krystal Hamburgers or Godfather’s Pizza
Gamble in Lake Tahoe/Reno Eat at a Fast Food Fish Restaurant
*EBI: Effective Buying Income. Refers to after-tax income.
31. Young Urban Mix
US Visitor US Visitor
Life- Base Analysis Analysis
stage Social Households 2000-2004 2000-2004
PRIZMNE Clusters Group Group %Comp %Comp Index
12 Brite Lites, Li'l City Y1 C1 1.99 2.18 109
29 American Dreams F2 U1 2.90 3.37 116
31 Urban Achievers Y2 U2 2.44 2.49 102
TOTAL 7.33 8.04 110
5) Young Urban Mix are predominantly singles and couples under age 45 living in multi-unit
housing in urban areas. These young urbanites have a higher than average likelihood of
being Asian or Hispanic. They tend to be college educated and are employed in white-collar
and sales/office administration occupations with midscale incomes. The median household
income for this target group is $49,800. Members of Young Urban Mix tend to eat at a
variety of restaurant chains, including Arthur Treacher, Roy Rogers, Boston Market, and
Romano’s Macaroni Grill. They are likely to travel domestically on American or United
Airlines and belong to Columbia House or a classical music club.
Young Urban Mix are also...
More Likely to... Less Likely to...
Live in a Structure with 20-49 Units Have Farm/Forest/Fishing Occupations
Use Public Transportation Live in a Mobile Home or Trailer
Commute by Bicycle Have a Home Valued <$40,000
Live in a Household with 2+ Persons, Nonfamily Live in a Boat, RV, or Van
Have Art/Design/Entertainment/Sports/Media Occup. Have a Home Valued $1,000,000+
Eat at Carl’s Jr, Papa Gino’s, or Shakey’s Use CellularOne for Cell Phone Service
Eat at Del Taco, Bennigan’s, or Round Table Pizza Buy Fishing Equipment
Gamble in Las Vegas Buy Garden Supplies by Catalog
Go Mountain/Rock Climbing Own a Rifle or Shotgun
Play Racquetball Belong to a Veterans Club
33. How can I reach them?
Likely Media Usage Habits by Target Group
1. Older Wealthy Couples
Classical Radio All News Radio
All Sports Radio Newspaper, Business/Finance Section
Yellow Pgs for Landscape/Garden/Tree Svc News/Talk Radio
2. Wealthy Midlife Families
Yellow Pgs for Building/Construction Supply Yellow Pgs for Electricians
Yellow Pgs for Furniture Stores Yellow Pgs for Landscape/Garden/Tree Svc
Newspaper, Business/Finance Section Yellow Pgs for Auto Dealer/Sales
3. Young Professionals
Source for TV Program Info, Internet Watch VH1
Jazz Radio Alternative Radio
Watch BET Watch BBCAmerica
4. Older Upper-mid Mix
Yellow Pgs for Travel Agents Alternative Radio
Classical Radio All Sports Radio
MOR/Nostalgia/Big Band Radio All News Radio
5. Young Urban Mix
Source for TV Program Info, Radio Alternative Radio
Urban Contemporary Radio Spanish Radio
Use Online Svc for Listen to Internet Radio Radio, NBA Regular Season
34. How can I reach Them?
Magazines Television Programs
1. Older Wealthy Couples
Washington Post, Daily & Sunday The West Wing
Wall Street Journal, Daily US Open, Men’s Tennis
Fortune Ed
Architectural Digest CNBC, Kudlow & Cramer
Business Week CNBC, Louis Rukeyser’s Wall Street
2. Wealthy Midlife Families
Traditional Home Celebrity Mole
Wall Street Journal, Daily MSNBC, MSNBC Live with Lester Holt
Food & Wine FOX News, Fox Report w/Shepard Smith
Money CNBC, Kudlow & Cramer
SmartMoney People’s Choice Awards
3. Young Professionals
New York Times, Daily & Sunday Access Hollywood (S)
Fortune Travel, Travel Channel Secrets
Los Angeles Times, Daily & Sunday VH1, VH1 All Access
Scientific American MTV, Road Rules
Washington Post, Daily MTV, Sorority Life
4. Older Upper-mid Mix
The New Yorker Kennedy Center Honors
Scientific American CNBC, Closing Bell
Fortune CNN, Lou Dobbs Moneyline
New York Times, Daily & Sunday NHL Playoffs/Finals
Money CNBC, Louis Rukeyser’s Wall Street
5. Young Urban Mix
Los Angeles Times, Daily & Sunday Nick at Nite, Family Ties
Chicago Tribune, Daily Soul Train Music Awards
Vanity Fair BET, Rap City
Elle Grammy Awards
GQ Malcolm in the Middle
35. Why segmentation
• Segmentation and target marketing are
central to our marketing strategy
– Different customer groups require the correct
marketing mix to suit their individual needs
– NTAs operate on a limited budget which has
to serve all major markets and therefore
targeting ensures an effective allocation of
resources in areas with a high potential for
conversion
36. Product
• The effectiveness of planning the
marketing mix depends as much on the
ability to select the right target markets as
on devising a product which will generate
high levels of satisfaction.
• Tourist have to believe that the product
offers high value.
• There should be continuous monitoring of
product via exit surveys
37. Product
• The BTA consistently monitors the
competition to ensure that our
services are amenities being
offered are consistent with market
norms and encourage the local
suppliers to enhance their
products to reflect this.
• Research will also develop
strategies to lift the quality of
products and services being
offered on island and raising the
national standards.
– ZAGAT
– AAA
• Monitor the quality of all the
components of the product and
provide feedback to suppliers
falling below the standards.
• Duty free sector
• Cleanliness drive
38. Brand Image
• In order to effectively
sell and promote a
country we need to
understand the
consumers perception
of the destination and
determine what points of
differentiation set the
island apart from the
competition
• Conducting brand audits
starting with the
perceptions of current
customers
• Barbados for example
trades on Friendliness,
safety and security
• The island that works.
39. Price
• Extremely challenging for a destination
marketing organization as they do not
control any inventory
• We cannot tell a supplier to sell his
product at any specific price even if its
priced above where it should be.
40. What do we do with Price
• Develop structured or informal relationships with travel trade
partners who have a ready supply of data available
• They supply relevant market intelligence regarding the pace of
bookings and what is being offered in the market i.e value for money
• Conduct scans of the market as well as economic conditions to
determine what national efforts need to be undertaken and what
would constitute a compelling offer.
• Several of these initiatives have been instituted within recent years
within the region. However, there is a function for researchers to
determine the success rate as well as the ROI. The use of E/D
cards as well as Exit surveys extremely important in these
evaluations
• In order to determine this we have to determine the correct timing
for the offer i.e the booking cycles of the consumer.
• In determining the offer we calculate the return on investment to
ensure its feasibility and benefits to the country.
41. Advertising &
Promotion
• Consistently conduct research to
monitor our advertising and PR
efforts in all markets
• Consistently ‘word of mouth’ ranks
very high as a PR vehicle for
Barbados. Suggesting the need to
ensure that the product is correct.
• In recent years, use of the internet
has been very important trend for
Barbados.
• Traditional media have been
diminishing in effectiveness
• Have therefore reoriented our
communications efforts to reflect the
changing environment
42. Testing of Concepts
• Before launching any
campaign it is tested
either through focus
groups or more recently
we have embraced the
new technologies to
test our concepts to
ensure that the
message is most
effectively
communicated
43. Distribution
USA
BOOKING CHANNELS
TRAVEL AGENCY HOTEL RESERV. TOUR OPER.
WEBSITE WEBSITE WEBSITE
2% 7% 6%
HOTEL RESERV.
14%
ONLINE AGENCY
35%
TRAVEL AGENCY TOUR OPERATOR
30% 6%
• Again simple questions on the exit survey can provide
useful insights into the distribution channels
44. Website Customer tracking
• Enhanced Tracking - The Internet offers an unparalleled ability
to track and monitor customers. Each time a visitor accesses
our website they provide us with extensive information
including how they arrived at the website (e.g., via a search
engine) and what they did when on the website (e.g., what
products were investigated).
• This information is being used in the redevelopment of our new
site and to provide information on interest of the consumer so
that the relevant content is added to the website
• Research Tools – A large number of Internet services have
added options for conducting research. These include the
ubiquitous search engines, tools for conducting online
surveys, and access to large databases containing previous
research studies (i.e., secondary research).
45. Forecasting
• Tourism is a highly perishable commodity. A
room or airline seat not sold today cannot be
sold tomorrow
• This highlights the need for accurate forecasting
as it has implications for jobs and the general
health of the economy as tourism is the main
engine of growth for many islands within the
region
• Countries can be proactive in devising strategies
in the event of fall off in business.
• The data from the E/D cards is useful as well as
information from travel partners
46. Forecasting
• The BTA reported this to the government for
planning purposes.
• This has resulted in a US$15 million fund being
established to aid properties and attractions in
distress due to the economic fallout
• This will minimize job losses and to try to
prevent any major downturn in the economy
from the tourism sector as it is heavily tied to the
other sectors of the economy
47. Rationale for Events
• In order to maximize the marketing spend it is
felt that events with significant television
coverage can provide a destination with
advertising and promotional opportunities which
we could not have otherwise afforded.
• The combined effect of a number of these
events in the right segments can raise the
destination profile.
• Finally, the additional visitation for the events
can boost the immediate needs of the industry.
48. Evaluation of Proposal
• The evaluation of all proposals should be
conducted based on the information
sources available
• This should be done with a ROI on these
events in mind.
– Must provide a minimum return of 20:1 to be a
viable option
– Coverage of the event must be significant
band in line with the image and profile of
Barbados.
50. ICC World Cup
• Delivered in numbers for the island
surpassing the ROI required
• Significant coverage but in areas where
the number of tourist not significant to
barbados
51. Other Events
• At this time not viable as the profile of
clients not necessarily Barbados clients
52. Conclusion
• Destination marketing and planning for the
Barbados Tourism Authority involves interaction
with various publics from the both from the
supply side and the demand side and protecting
their interest.
• It is imperative that the relevant information to
make sound decisions is available and that
actions are taken in the most cost effective way
to the benefit of Barbados as a whole.