List and discuss the major bases for segmenting consumer markets.

Expert Solution

Although there are many ways to segment a market, all are not equally effective. To be useful, market segments must have the following characteristics:

• Measurability: the degree to which the segments' size and purchasing power can be measured

• Accessibility: the degree to which segments can be accessed and served

• Substantiality: the degree to which segments are large or profitable enough to serve as markets

• Actionability: the degree to which effective programs can be designed for attracting and serving segments

Assign your students different hospitality operations. Ask them to identify the main customer segments for each operation. How were they able to come up with these segments? Encourage them to analyze whether the segments they came up with have the characteristics of effective segmentation listed above.

Junaid answered 10 months ago

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