choice of attraction is the Singapore Flyer (FIG.1). Endorsed by the Singapore Tourism Board (STB) and opened on 25th April 2008‚ the Flyer stands at 165m in height and was built at a cost of S$240 million. It is ranked #19 out of 276 attractions in Singapore on TripAdvisor and is one of the attractions that make up the “See Singapore Pass”. A General Assessment of the Singapore Flyer With reference to Butler’s Tourism Area Cycle of Evolution theory (1980)‚ the Flyer is likely to be at the development
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Segmentation of market Using demographic and behavioral segmentation Singapore flyer can segment its market. Using demographic segmentation‚ we have targeted the age group and the income group factor. Firstly‚ for the age group‚ Singapore flyer should segment the market into four different age groups. They are the children‚ youths‚ adults and elderly. We have chosen to target the youths and adults (age 13 to 45)‚ mainly because they are the ones who are willing to spend their money for entertainment
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Singapore Flyer No. 1 2 3 4 5 6 Description Introduction Problems in scope‚ time‚ cost‚ quality Project Priority Matrix Recommendations & Project life Cycle Conclusion References Total words: 1575 word Page no. 2 3 4 5 6 7 Mission : A Moving Experience At Every Turn (Singaporeflyer.com‚ 2015) 3 Directors: Paul Francis Hodgson (British citizen)‚ David Paulus Schuiiwerve (Dutchman)‚ OngHahl Boon Li Patsy (Singapore) (Asianewsnet.net‚ 2015) 1 revolution: approximate 3032mins
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milk is also known as Ready-to-eat cereal. Within Singapore itself‚ breakfast cereal are generally seen as a nutritious form breakfast that appeals more to the younger generation and children who are seemingly more receptive to these western breakfast.(Breakfast Cereal- Singapore‚1)Datamonitor states that by definition the breakfast cereal market consists of hot breakfast and ready-to-eat (RTE) cereals. In Singapore alone‚ the breakfast cereal market in 2008 is generated a retail value of $38 million
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Market segmentation Market consists of large number of actual and potential customers. The process of splitting the market into different groups or segments based on the needs‚ characteristics or buyer behavior is called as Segmentation (Kotler‚ Brown‚ Adam‚ and Armstrong‚ 2007). Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. SIA focuses on business travelers and the price sensitive leisure travelers. The business paradigm of SIA has clearly
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6 Market Segmentation and Positioning Positioning is not what you do to a product; it is what you do to the mind of a prospect. Ries and Trout (1972) Learning outcomes After reading this chapter‚ you will be able to: ✔ Describe the principles of market segmentation and the STP process. ✔ Explain the characteristics and differences between market segmentation and product differentiation. ✔ Explain how market segmentation can be undertaken in both consumer and business-to-business
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ASSIGNMENT 1) Market segmentation Market segmentation is simply a modern marketing strategy in which the market for your customers are divided in various several groups and segments based on some major key factors such as demographic‚ geographic‚ psychological and behavioural factors. By dividing the market‚ the sellers that that try to deliver good value to their customers will be able to have better understanding of their target audience and thereby make their marketing more effective. Market segmentation
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reach different markets or to promote your products to different locations or people one has to use a method called market segmentation. "Market segmentation describes the division of a market into homogenous groups which will respond differently to promotions‚ communications‚ advertising and other marketing mix variable" (Cumming). Market segmentation is extremely important for companies around the world. If a company doesn’t research the area in which they are going to market or they put a product
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Market Segmentation Strategy‚ Competitive Advantage‚ and Public Policy Market Segmentation Strategy‚ Competitive Advantage‚ and Public Policy: Grounding Segmentation Strategy in Resource-Advantage Theory Shelby D. Hunt & Dennis B. Arnett Abstract Market segmentation is one of the most widely accepted concepts in marketing. Its fundamental thesis is that‚ to achieve competitive advantage and‚ thereby‚ superior financial performance‚ firms should (1) identify segments of demand‚ (2) target specific
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Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs‚ and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them. Market segments allow companies to create product differentiation strategies to target them. Criteria for segmenting An ideal market segment meets all of the following criteria: * It is possible to measure
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