Travel Market - Segmentation Essay Example for Free

Travel Market Segmentation Essay 1. The Travel Market can be segmented into 3 segments: Luxury travellers, Adventurers and Budget travellers. These segments are identified by demographics like age and income, psychological factors like personality, and benefits sought like needs and product features. Luxury travellers are usually older or middle-aged consumers who are already financially prosperous and look for relaxation and rejuvenation from their stressful positions. They can also be retirees. Luxury travellers will be willing to pay more for value, quality and service, and they look for quality relaxation and experience when looking for a place to reside while travelling. Luxury travellers will respond well to Banyan Holding’s Banyan and Laguna resorts and hotel line. Banyan tree hotels and resorts seek to have guests â€Å"pampered with a warm and friendly retreat experience† and are targeted to those â€Å"who place a premium on exclusive and unique localtes, with a penchant for the indulgent, luxurious and exotic† (Marketing in Asia 2nd Ed, p714-715). These high-end customers desire personalized service, ambience, and design, and a self-contained, personal retreat with private and tasteful amenities (Marketing in Asia 2nd Ed, p715). Luxury travellers who go on trips with their family members will prefer Laguna resorts and hotels as it provides a wide range of amenities for children to elderly, like the children’s suite, Laguna shopping centre and Angsana Spas. The Laguna hotels offers a wider range of services for a broader base of targeted audience, hence appealing to luxury travellers who travel with their family. Adv enturers are younger working adults around their twenties to late thirties who are financially independent and willing to spend. These consumers look for exotic places and place high emphasis on outdoor-recreation. They value authenticity and look for opportunities to immerse themselves in the local culture. People who go for adventure travelling would look for places that are less urbanized and richer in culture. Authenticity and thrill will be their main concern hence location and convenience would matter less. Adventurers will respond well to Banyan Tree’s sister brand, Angsana Hotels and resorts. The hotels are designed to be contemporary and which, and marketed with emphasis on outdoors-recreation which will appeal to such travellers. They also have a range of adventurous activities offered, like bungee jumping, white-water rafting and trekking. A great selling point of Angsana hotels is that it is located in unique world heritage site locales which offer adventurers a rustic experience with the added bonus of comfort and luxury. Budget travellers are identified to be in the lower to middle income group and are financially independent but not holding large amounts of disposable income for leisure activities. These travellers are sometimes young parents who hold tight budgets when it comes to travelling as they need to set aside large portions of their income for their children’s education and to support their own parents. They seek for benefits like low prices and promotions and do not always aim for quality or service. These consumers will not be prone to consume Banyan Tree Holding’s products and services as the products offered are generally high-end and too expensive. These consumers will likely to be working hard to support their families and hence unable to go for Angsana or Banyan spa treatments as well due to the lack of time. When travelling, these consumers will go for cheaper hotel options instead as they do not place high emphasis on special product features like adventurous amenities or quality of the services. 2. The attractiveness of the market segments can be assessed by the market size, the expected growth, the competitive position, the cost of reaching the segment and the compatibility with the Banyan Tree’s objectives and resources. In terms of market size, the budget travellers take up the largest percentage of leisure travellers while adventurers take up the least. In United States, the top 1% households own 35.4% of all privately held wealth (Domhoff, 2013). Wealth distribution is similar in the rest of the world; small proportion of people holding majority of the wealth. As such, the adventurers and luxury travellers take up a much smaller market size while budget travellers are aplenty. In terms of expected growth, the luxury travellers are expected to grow the fastest. Baby boomers, who are born between 1946 to 1964, are at their prime of their careers and some may already be retired. As these people age, the financially prosperous bunch of them will be expected to go travelling on retirement trips and they will have the financial capacity to spend on quality services and experiences. The luxury travellers will thus be expected to grow the fastest. The growth of the adventurers and budget travellers will then depend on the state of the economy and birth rate. Developed countries now face declining birth rates and an aging population, which causes both the adventurers and budget travellers to decrease in size or grow at a slower pace. For competitive position, the market for budget travellers will be the most competitive as most options are available. These competing hotels and motels are largely s imilar, providing homogenous amenities and services with price as the main selling point. Hence, it will be difficult to compete against these hotels as lowering price too much will start a price war, which in turn causes damage to all producers. Joining this market will not guarantee a significant market share as there are many firms and the products are mostly homogenous. In the luxury and adventure travelling segments, the hotels are largely different with their own selling points. For example the Maison Souvannaphoum Hotel in Luang Prabang would offer visitors a cultural and scenic experience of the Mekong River and hills of Laos, an experience that will not be found in any other hotels. The luxury hotels offer different scenic views and quality service, hence these hotels compete via product differentiation. There are less firms and hence more competition, but it also means that there will be a chance of getting a large market share should Banyan tree decide to invest in it. In terms of cost, marketing Banyan Tree’s products too all three different segments of consumers will take roughly the same costs. These will include advertising costs on websites, newspapers and tie-ups with travelling agencies. In terms of compatibility, reaching out to the budget travellers will be most costly as brand new budget hotels will have to be built, which requires a large amount of capital. Marketing Banyan Tree Holding’s hotels and services to the budget travellers will also not be effective as the product features of Banyan tree’s products are incompatible with the features these consumers are looking for. Reaching out to luxury travellers and adventurers will be easier as they will already be receptive to the products offered by Banyan Tree. In conclusion, Banyan Tree Holdings should focus on the Luxury Travellers market segment as they have the highest potential growth rate and the products which these consumers are looking for tally with the products Banyan Tree Holdings offer. 3. Companies in the travel industry can carry out product positioning by emphasizing on different aspects of their products and services, like the geographical location, the economic value, lifestyle, services and amenities, and environmental awareness. The geographical location of the company will include the cultural heritage of the host country in which the firm can use as a selling point to foreign visitors. The actual location of the hotel can also be used as a selling point for added convenience if the hotels are located just beside train or bus stations. The economic value refers to marketing the company’s products and services at a certain price which gives a similar level of satisfaction. Hotels can market themselves as budget hotels which are on the lower scale of the price range, or luxury hotels which gives consumers such a great experience and service that the consumers think the high price is worth it. Lifestyle and services can be marketed to consumers if the hotel provides visitors with a distinct, exotic experience or have unique facilities. Companies can also support environmentally friend codes of conduct to promote themselves as clean and green, giving off a positive reputation and image to the public and potential customers. Banyan Tree uses the product position strategy of geographic location, lifestyle and services and environmental awareness. According to Marketing in Asia 2nd Ed p714, each Banyan Tree property is designed to fit into it’s natural surroundings and the natural landscape is preserved as much as possible. This places emphasis on the location of the hotels and resorts, marketing itself to be exclusive and asian. For Angsana Hotels and Resorts, it is located in unique World heritage site locales which provide visitors with a coherent authentic experience of the local destination, serving as a large attraction. Secondly, Banyan tree also markets itself to pamper guests with a warm and friendly retreat experience that showcases Banyan Tree’s signature lend of romance, rejuvenation and exotic sensuality. This adds to lifestyle and experience. Thirdly, Banyan Tree sells itself with an environmentally friendly and conscious theme. Besides being environmentally friendly, Laguna Resorts and Hotels is also committed to providing for the health and educational needs of the children of its employees and local villages. This will attract consumers who care for the deterioration of nature and the welfare of developing countries. Banyan Tree’s products are highly distinctive as they emphasize themselves on being a luxury and premium brand. Banyan Tree previously marketed itself with the slog an of â€Å"Romance of Travel† which also emphasizes on rejuvenation and relaxation. Banyan Tree is consistent in all it’s different product types in the fact that it focuses on pampering the guest and providing the ultimate luxurious experience. To support the theme of luxury, Banyan Tree’s products are highly priced. This is because consumers usually associate higher priced products to be of better quality. Banyan Tree promoted themselves with the â€Å"Romance of Travel† campaign which emphasized on Banyan Tree’s brand of romance, intimacy and rejuvenation. Banyan Tree is also spread to other consumers through articles in many websites by travellers. Positive testimonies stir interest in potential customers, and can reach out to many due to the widespread use of internet today. To tap on the greater use of internet, Banyan Tree also offers direct bookings through popular resort websites for convenience and accessibility. To keep up with this inf ormal advertisement, Banyan Tree maintained it’s well-known quality of service which aided it to have good reviews. Banyan Tree also took part in eco and cultural tourism, and famous projects like the Tsunami Relief Project in 2004, projecting an image of awareness and goodwill for the company.

Two Conceptions of Freedom or Two Appearances of a single Conception? E

In his essay "Two Concepts of Liberty," Isaiah Berlin distinguishes between two conceptions of freedom, namely negative and positive conception of freedom. Basically he defines negative liberty as the absence of coercion. He states: "To coerce a man is to deprive him of freedom" (121). According to him, coercion is the intention to interfere in the freedom of an individual. Thus, absence of coercion is absence of deliberate, intentional coercion. For him, negative liberty requires an immune area, away from the obtrusive action of other people. For the accomplishment of freedom "[s]ome portion of human existence must remain independent of the sphere of social control" (126) However, achievement of negative liberty, creation of the immune area from coercion, is contingent upon the authority to be kept at bay. Therefore, the position of authority, which entails coercive powers, should be controlled in order to make them accountable to the people, whose fre edom, immunity from coercion depends on. Positive liberty, on the other hand, is, not freedom from coercion, but freedom to determine one's own destiny: it is self-determination. In this sense positive liberty is a necessary condition of human being, right to choose, right to determine ones behavior. Berlin maintains that the negative and positive concepts of liberty are "at no great logical distance from each other," but in reality they are profoundly divergent, in fact irreconcilable,...

A Writer’s Worst Writing Experience

When a sales man cannot sell anything, when a basketball player cannot shoot hoops or when a painter cannot paint, the worst experience that any professional can have in the performance of his or her work is the inability to execute the same, which practically defeats the very essence of the profession. In the same token, a writer’s worst experience is the incapacity to write when the writer has nothing to write about. This occurs basically for two reasons: First is when the topic to be written about has no resource and second, when the writer especially creative writers, has no source of inspiration or objective to write about. Writers conduct extensive research for the papers that they prepare. Whether a review of related literature or previous studies conducted on the topic of interest or an interpretation of an empirical observation or a summary of qualitative interview or statistical data, written documents must always have a basis whether from authoritative references or simple scientific observation. This is especially important for written documents that proposes an idea or urges its audience into action such as all forms of academic papers, advertisements or propaganda. In our modern world, the primary approach used in generating ideas is the scientific method of observable investigation and experimentation in generating conclusions. (Payne, G. and Payne, J. , 2004). In philosophy however, two major schools of thought basically delineate Epistemology or the study of human knowledge. Aside from the empirical approach that posits that perception is the prime source of knowledge on which is based the scientific approach, there is rationalism. Rationalism is principally founded on the Platonic philosophy that adhered that the mind or soul is ultimately the human faculty that interacts with the real world of abstract concepts from which is derived tangible particulars i. e. the factual world via the deductive process. (Engel, S. , 2001). This intangible reality is beyond our perception and can be attained through contemplation and reason. Following this idea, writers can also write original topics or ideas by reflection. Whilst in a derogatory sense, writers can actually generate ideas by philosophizing in a vacuum. Pragmatists however added that such philosophical writing must have practical purpose. Descartes’ Skeptical approach used doubting as the process of inquiry that allows a person to obtain relative certainty. The process of contemplation and reflection brings us to the next chief reason for having nothing to write about which is the lack of inspiration. Contemplation and reflection is difficult if not impossible if writers lack inspiration or objective. In the case of Descartes, his objective to prove the logical intuition of one’s existence and certification of one’s consciousness through self experience served as his inspiration. It is not a simple rational inquiry but is focused on discovery of the foundation of knowledge. For creative writers, the source of inspiration can be about anything i. e. a person, object, experience or a simple thought. This results to written forms of art such as poetry, stories or other written expressions of emotions and thoughts. However unlike other forms of art like painting or sculpture, writing as an art must always be geared to communicate ideas/ notions and express emotions. Hardly are there written forms of art that is for pure aesthetics or is created for its own sake. This is because writing is the textual representation of communication in which ideas are at its core. Without idea or message, there is no communication. In writing, this idea is tantamount to the topic. Without the topic, there is no writing. Thus, having no reference, source of such topic or the lack of inspiration to source that topic is the worst experience that a writer can ever have.

The Awareness Of Traumatic Brain Injuries - 1334 Words

Introduction The awareness of Traumatic Brain Injuries (TBI) has increased and the information available is better now than it was in the past. I believe many people are aware of concussions and traumatic brain injuries but not how it can affect their brain. Traumatic Brain injuries are a very complex injury with a broad spectrum of symptoms and disabilities. Many healthcare professionals in the field of brain injury often say, â€Å"If you’ve seen one concussion, you’ve seen one concussion.† Even a mild case of a concussion should not be taken lightly. People do not realize the impact it can have on a person and his/her family, it can be devastating. One of the leading causes of Brain Injuries is concussion as this has been brought to light by†¦show more content†¦Although after a concussion many people do not remember what happened immediately before or after the injury and may act confused. Even a mild concussion should not be taken lightly. Many concussions are not recognized and therefore the person does not seek medical attention. A ‘mild brain injury† can be misleading as the term ‘mild’ is used to describe the severity of the initial physical trauma that caused the injury. As most people would assume, it does not indicate the severity of the consequences of the injury. Many neurosurgeons and other brain injury experts have emphasized that although some concussions can be less serious than others, there is no such thing as a â€Å"minor concussion†. Concussions are very common, an estimated 1.6 to 3.8 million sports and recreation-related concussions occur in the United States each year. â€Å"Concussion is an injury that results from a wide variety of mechanisms and has numerous signs and symptoms that are common to different types of injury† (ncbi). For many it can be difficult and a challenge getting an accurate diagnosis a nd treatment when the injury has caused no loss of consciousness. However, again it is important to stress, there does not need to be a loss of consciousness to receive a brain injury. The main causes and symptoms? A concussion is caused by a bump, blow or jolt to the head that disrupts the normal function of the brain. Signs and symptoms of

The World As The Global Business - 1493 Words

The year is 2015 and as many companies thru-out the years know, one must maintain connectivity with the world as the global business has become more competitive than ever. To help maintain stability and longevity in an environment that constantly changes an organization needs to embrace diversity, this provides a bigger range of ideas, emotions, new perspective and a new direction into the future. These ideas are based on a bigger demographic population in a workplace, a company or a business that represents the same diversity, as society tends to survive the trends of our social economy. According to the Webster’s dictionary â€Å"Diversity† is defined as the state of having people who are different races or who have different cultures in a group or organization (Webster 2015). This is one of the many reasons why America is considered around the world as the land of the free; this analogy is made out of having a rich diverse society. The workforce is not the same today as it was years ago. With each year America’s workforce becomes more diverse and has a culture of acceptance. Diversity in the workplace has become a priority for many HR departments and it’s a key for the success of large corporations in America. As society becomes more diverse many companies have aggressively embraced diversity in the workplace. This shift is contributed by the demand of jobs in America; this trend favors women, those with disabilities, minorities, gays and lesbians. (___) ResearchShow MoreRelatedThe World Becoming A Global Place For Conduct Business1187 Words   |  5 PagesWith the world becoming such a global place to conduct business we have put together this guide to help any of your employees who will be assigned to work in Spain. The following document only serves as a guide, and only provides the basic guidelines to Spain’s business etiquette. 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Shih’s global expansionRead MoreGlobalization and Its Impact on International Business Essay1558 Words   |  7 Pagesinternational business†¦..7 The road ahead for international business†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦9 Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 Reference†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Introduction Every day we hear it on the news, read it in the papers, overhear people talking about it†¦ and in every single instance the word globalization seems to have a different meaning. So, what is globalization? What are its main drivers? Why and how does globalization impact international business? What’s the future of international business? This

Discussing The Legalization Of Prostitution - 1604 Words

Karina Sobreira Final Paper SOC 3561 04/19/2015 Discussing the Legalization of Prostitution To better discuss the legalization of prostitution there’s a need to know its definition. Legalization of prostitution is where prostitution becomes controlled by the government and becomes legal under specific conditions. Legalization may include prostitution-specific controls chosen by the state, which could include licensing, registration, and mandatory regular health checks ups. Prostitution has been legalized in Netherlands, Germany, Iceland, Switzerland, Austria, Denmark, Greece, Turkey, Senegal, Nevada in the USA, and many Australian states (Mossman, 2007). Prostitution has been shaped by economic, demographic, social, and ethical changes†¦show more content†¦Expansion of the sex industry Though it is expected that the expansion of the sex industry would be controlled by legislation, it actually does the opposite. â€Å"Legislation leads to massive expansion† (Sullivan Jeffreys, 2001). 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Film Documentary Babies Essay Example For Students

Film Documentary Babies Essay Some years ago, I saw the documentary movie â€Å"Babies† (Bebes), released in 2010 by French director and producer Thomas Balmes. At that time I thought it is a nice, cute movie about little kids and their everyday life routine, but now I know that is more than that. It is about cultures and differences. It is about realizing that there is not right and wrong when we talk about cultures and about accepting people from other cultures as â€Å"normal† (here, I used normal because in many cases we perceive something that we are used with, that we grew up with as normal). But first, let me introduce you the story of this movie, so that you know what we are talking about. First I must say that in this documentary is only natural sound, no voice over, which for was really interesting. Nobody explains you the events, nobody teaches you something, you just have to look and understand the message. Or the messages. It is a documentary that has an open ending, gives you space to personally relay on the events and learn from them. Personally I watched it twice and I got different messages each time. I think I’ll watch it again over several years. The film follows the story of 4 humans in their first year of life. These little kids are not commonly picked, but they have something in common: they live far from each other, in different parts of the world, in different economical areas and different cultures. Ponijao from Opuwo, Namibia. A little girl that has eight brothers and sisters. Her family is part of Himba tribe and they live in a village. Mari from Tokyo, Japan. She is the single child of two loving parents that live in Shibuya, a crowded, metropolitan area. Bayar from Byanchandmani, Mongolia. He lives with his mother, father and older brother at their farm. Hattie from San Francisco, California lives with her mother and father and she has a â€Å"green† lifestyle. After introducing to you the main characters, you can already visualize how the story will look. But I must say that the movie is delightful and I would not like to know that I spoiled it for you. The reason for giving you details about their lifestyle, family and location is a simple one: to understand the differences between the cultures that they were born in. Now let me give you some in depth details from my experience watching twice this documentary. While watching it for the first time I have to confess that I felt sorry for the kids that â€Å"were not so lucky to live in a city, to have a wealthy family, to have activities since day 10 of life, and so on. I thought that Hattie and Mari have a normal lifestyle while Ponijao and Bayar seemed to me two kids that did not have the same chances. I said that two of them have a normal lifestyle. Normal, judging from my point of view, at that time. And normal because I related these kids to me and my lifestyle and my culture and society and at some points they matched. I saw Ponijao and Bayar through the eyes of the society and culture that I live in. And they seemed to me so far away in time and space. When I watched â€Å"Babies† for the second time I knew something changed. I could see the details. I could see the happiness of every child in this movie no matter where he was living. They all grew older no matter the place, they all played and had fun, they all ate well and gain weight. So I asked myself, why to feel sorry that they don’t have the same culture and the same lifestyle as me? They are so very happy the way they are and I should respect that. This is the lesson that these four babies thought me about culture. We should not judge before we truly understand.