Market Segmentation and Branding in the Hotel Industry

Seminar paper from the year 2003 in the subject Tourism, grade: 1,3 (A), University of Applied Sciences Worms (Tourism), course: WS 2003, 25 entries in the bibliography, language: English, abstract: In todays market place managers are constantly seeking to find the best ways to reach and serve their customers. Market segmentation, dividing the market into submarkets, and branding products and services plays a major part in marketing activities.

Globalization is one of words used nowadays to describe the convergence of cultures. Cultures are believed to move closer together as a result of increased travel, better communication methods and enhanced transportation opportunities. Companies try to anticipate this change by offering standardized products to a global audience. Cultural differences are a logical barrier to standardization of the marketing strategies on a global scale. However, even on a national scale, there are many different types of consumers, who need to be treated differently. Market segmentation plays a major part in marketing, as all marketing activties depend on precisely defined and carefully choosen market segments.