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Market Segmentation and Price Sensitivity
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Flashcards
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Budget Travelers
High price sensitivity, limited disposable income, prioritize basic accommodation and services.
Business Travelers
Moderate price sensitivity, company-funded travel, prioritize convenience and efficiency.
Luxury Travelers
Low price sensitivity, high disposable income, seek exclusive experiences and premium services.
Adventure Travelers
Varied price sensitivity, look for unique experiences, may prioritize certain aspects over cost.
Family Travelers
Moderate to high price sensitivity, seek value for money, preferences driven by needs of all family members.
Eco-conscious Travelers
Moderate price sensitivity, willing to pay a premium for sustainable options, value eco-friendly practices.
Senior Travelers
Varied price sensitivity, value comfort and accessibility, often travel off-peak.
Millennial Travelers
Moderate price sensitivity, high value on experiences and social sharing, may splurge on unique activities.
Group Travelers
High price sensitivity, travel in larger numbers, look for group discounts and shared accommodations.
Solo Travelers
Varied price sensitivity, prioritize personal interests and flexibility, often look for budget-friendly options.
Cultural Travelers
Moderate to high price sensitivity, engage in travel to experience different cultures, may opt for educational tours.
Health and Wellness Travelers
Low to moderate price sensitivity, prioritize health and wellness services, may seek luxury wellness retreats.
Honeymooners
Moderate to low price sensitivity, look for romantic and exclusive experiences, often willing to splurge on once-in-a-lifetime trips.
Discount Deal Seekers
Very high price sensitivity, seek the best deals and discounts, prioritize cost savings over service quality.
Festival and Event Travelers
Moderate price sensitivity, travel specifically for events or festivals, may book well in advance or last minute.
Digital Nomads
Moderate price sensitivity, value good internet and workspaces, often stay for extended periods in destinations.
Educational Travelers
Moderate to high price sensitivity, often students or academic professionals, travel for educational purposes.
Sports Travelers
Varied price sensitivity, travel revolves around sporting events, may prioritize convenience over cost.
Religious Pilgrims
High to moderate price sensitivity, travel for religious purposes, may join travel groups organized by religious institutions.
Cruise Travelers
Moderate price sensitivity, seek all-inclusive travel experiences, vary from budget to luxury offerings.
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