Market Segmentation the Breakers Essay

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Market Segmentation

The Breakers is a destination resort, which has specific implications for its customer segmentation. About 45% of its business is in leisure travel, with 55% in group traffic. One segment cited in the interview was the customer who is looking for the iconic destination resort, especially older ones that convey a certain luxury and class because they are so well-established. Another customer segment is the jet-setter. In the interview, it was noted that some customers might view their options globally, such that they could fly to Palm Springs or Hawaii or Dubai or wherever is warm and has a nice property. Both of these customer bases are at the high end of the market.

In terms of business segments, which the management describes as groups, there are several different segments. There is a lot of meeting business since they have facilities that can accommodate up to 1000 people. This, combined with the setting, property and seasonality, draws in a lot of meetings -- there are few places in the continental U.S. better-suited for meetings especially during the winter season. There are around 600 groups per year. There are two main segments in the business market. The first is the corporate market, where the emphasis is on meetings, and the second is on associations. In both cases, it is the same combination of facilities and location that serves as the main draw for the property.

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There are several types of competitors. The Breakers competes locally, nationally and globally in the luxury destination resort market. For example, there are other properties in South Florida, some of the high end hotels in Miami Beach for example. Ritz Carlton and other beachfront properties in Florida, and also cited are boutique properties in Miami. So But for the most part The Breakers is fairly strongly tied to its location in Palm Beach.

TOPIC: Essay on Market Segmentation the Breakers Is Assignment

Globally, Dubai, Hawaii and the Caribbean are all cited as being competitors. A visitor to the Breakers might be equally likely to opt for one of these other destinations, especially ones that share the same high season in winter as South Florida does. There are also national competitors, other properties of the same size, scope and cachet. Some compete during winter, such as properties in Arizona or Nevada, while others compete at other times of the year. The Greenbrier (WV), the Homestead (VA) and the Broadmoor (CO) are all cited. If you are looking overseas -- Dubai was mentioned so maybe something like the Burj al-Arab is a good competitor as one of the places there that attracts the global high-end leisure and corporate client.

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One ad for the Breakers that I have found is a promotion for "Engage '12," which is billed as a "luxury wedding business summit," so an industry show for people in the luxury wedding business. This is a YouTube video: https://www.youtube.com/watch?v=METBN2Hij8g

It is just one of two videos that… [END OF PREVIEW] . . . READ MORE

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