Segmentation / Target Market Profile
Segmentation is the process of dividing a market into distinct group of buyer who may require separate products. Segmentation Analysis is the process of examining various submarkets and selecting those most appropriate for a company.In order to analyze our market segmentation appropriately, first of all, we need to identify the bases for segmenting the market. As to our hotel, the basic bases include geographic segmentation, demographic segmentation, and psychographic segmentation. Our geographic segmentation is divided into business market, tourist market and wedding market. Demographic Segmentation includes guest’s age, gender, income etc Psychographic Segmentation includes social class, personality, lifestyle, etc. we divided target market of Claron hotel into 2 major groups. First is Business Corporate Group which is expected to use Claron Hotel’s service during weekdays. The second group is wedding couples who are looking for the best place and excellent service for their wedding day. According to statistics of Tourism Queensland the total business visitors in Brisbane CBD will be 8,25000 this includes 1,82,750 business visitors and 3,29,905 convention/corporate visitors. If we are focus in this target market they going to be represent an excellent profit for us. Queensland take the State's, natural and cultural attributes for granted. The fact is that, despite not having well recognized tourism attractions such as beach or theme parks etc... ; and not having a large city population base, the State is performing well in tourism and business aspect. Queensland’s average 8% share of Australian tourism. According to Brisbane Convention & Exhibition Centre’s data, there are multiple Exhibitions, Live shows and Conventions coming up. This will help the growth of the tourism and business market. The package provided by The Claron Hotel is definitely very attractive to the tourism and business market. But for establishing a 5 star hotel, located in the CBD, business corporate people are out main target for weekdays and Weddings and events on the weekends For targeting any market we have to analysis the target local, national or international business. For example for business we have some groups like
➢ Business Market.
Business travelers represent a large portion of lodging demand in many market areas. They include people traveling on business representing commercial, industrial and governmental organizations. Peak business demand is usually experienced Monday through Thursday nights.
Sub-Class of business Market
• Association Meetings
• Corporate Meetings etc.
• CONVENTIONS: conventions are usually the annual meeting of an association and include general sessions, committee meetings, and special interest sessions. A trade show is often an important part of an annual convention.
• ASSOCIATION MEETINGS: Association sponsors many kind of meetings, including regional, special interest, educational and board meetings.
• CORPORATE MEETINGS: A corporate meeting is a command performance for employee of a company. The corporation’s major concern is that the meeting be productive and accomplish the company’s objective.
• SMERF GROUP: SMERF stands for social, military, educational, religious, and fraternal organization . This group of specialty markets has a common price-sensitive thread.
• FIT: According to statistic bearue this year and coming year the number of Free Independent Travelers in Brisbane will be approximately 1,65,327.
➢ WEDDING: Due to our good location, wedding market is also another profitable market for us. It brings extra profit for us mainly on weekends and holidays. As we know Brisbane is not a tourist place. People often comes here for business purposes. They plan to marry at some special occasions so...
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