What is the definition of Target Market in the hotel industry?
Adopting a laser-focused loom to selling hotel rooms can be important in attaining incomparable tenancy levels, and therefore terrific proceeds year-on- year. Marketing towards a precise audience, rather trying to sell to everybody (and being, as we say in the Hotel Industry, ‘all over the map’!) can help extremely when it comes to make the most of income.
Generally the market can be divided into four diverse groups, and they are geographic (targeting exact consumer groups according to their geographic locations), demographic (include gender, life-cycle stage, age, income, social class, and lifestyle), psychographic ( inspects how a person thinks, feels and behaves, using personality, lifestyle and values as segmenting variables) and profit leaning (benefits customers aim to get using products and/or services presented by the hotel. Hotels that know their Target Market can arrange both offline and online marketing crusade tailored specially towards that audience, after carrying out in-depth research and then acting upon the findings.
Deciding which exact demographic and sociographic target market to aim at within the mixture of customer groups is best achieved through research and conformity of estimation. And it can even be a good thought for hotels, perhaps lacking expertise, to sometimes pay a fee to a self-governing consultancy that can brag skill in Target Marketing towards a variety of customer groups. This could verify to be money very well spent!