Question

In: Economics

Please complete 5 market segments (Adventurer, Entertainer, Foodie as examples). Please create new market segments then...

Please complete 5 market segments (Adventurer, Entertainer, Foodie as examples).

Please create new market segments then briefly justify targeting each segment.

Please complete a minimum of 5 segments. To create each segment your group must imagine or anticipate a number of characteristics (wealthy, educated, cultured, family status, married with children etc. as examples).

You will be marketing the city of Toronto to the segments you create.

Solutions

Expert Solution

Solition:

In order to market the city of Toronto we need to understand what is it that is marketable and then create segments of customers who would be probably interested in visiting Toronto. We can then create segments and their characteristics. It will be easier to market the city to them.

Characteristics of Toronto which are marketable - Greenery and parks, homely city , multiple cuisines which are available at wee hours , Sports and games , film sites , art and cultural destination, weekend getaways nearby, peaceful and serene place, safe place for tourists, shopping destination.

Now that we know the marketable features we segregate the type of travellers who would be interested in coming to Toronto.

I am not aware of the names used in class but using the above description will suggest 5 types of segments and explain them. using the same guidelines you can create more segments in case you find them interesting and different.

1. Someone who would like a place to relax and enjoy, away from the hustle of the city worklife, safe and also has weekend getaways would be the Distressed customer

2. Someone who is interested in unravelling art and cultural sites and likes to visit cultural places could be the Xenophile

3. A person who would like a safe and peaceful getaway with family and like to visit places with options of sports, greenery, parks and good food could be the Family-centered customer

4. A person who likes to visit places where films or serials are made could be a Filmy customer , someone who is a serial and movie freak.

5. A person who is a sports freak and a foodie could be the Enthusiast

Lets explain the characteristics of each of the segment

Customer segment Characteristic Reason to visit / way to market Toronto
Distressed customer

Middle and upper middle class

Married with kids

Corporate employee, middle manager working in a stressful environment

Stress reduction

Relaxing holiday

Greenery and parks for relaxation and engaging children

Movies and sports for engaging family

Xenophile

Artist or Cultural student

Art collector

Member of museums \ art galleries

Could be married with children

Wealthy

Culture explorer or Researcher

Educated - some maybe with PhD

highly cultured

visit cultural sites and scenic beauty of the city

Historical sites

Family-centered

Married with or without children

Upper or middle class family

Corporate employee or entrepreneur

Educated

Food lover

Weekend traveller

Well cultured

Weekend getaways

Greenery and parks

Sports and other entertainment options

Multicuisine restaurants

Cultural sites to teach history and culture to children

Filmy customer

Middle or lower class

Active Social media User and influencer

Entertainment industry follower

Mostly unmarried and without children

May or may not be cultured

Sites where movies and series are filmed

Cultural sites

Greenery and parks

Enthusiast

mostly unmarried or someone who travels frequently with friends

Middle or upper class

Educated

Sports fanatic

Multicuisine lover who frequents restaurants and likes to try new food and dishes

Games and sports events

Multicuisine restaurant

******************************************Thank You***********************************************


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