Critical Aspects Of MICE Tourism

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The term MICE in literal terms is an acronym for Meetings, Incentives, Conferences/Conventions and Exhibitions. MICE tourism combines business with pleasure. It’s a niche segment of tourism dedicated to planning, booking and conducting conferences, meetings, seminars and other events. Dwyer and Forsyth, 1996 described MICE as “The meetings, Incentives, Conventions and Exhibition (MICE) sector consist of activities including conventions, trade shows, seminars, events, exhibitions and incentive travel.” MICE is a congregation of different groups like corporate event planners, hotels with the facilities to conduct conferences, food and beverage managers, tour operators, tourism boards and tourism & trade associations. Figure 3.1.1 MICE Tourism…show more content…
The most ideal locations in an event are the entry and exit points, on the way to or near to food court. 3.1.2 Market Segmentation In a nutshell market segmentation is the process of segregating customers and potential customers, in a market into different groups or segments. Market segmentation came into existence with the thought that one size doesn’t fit all. A heterogeneous market is divided and viewed as several homogeneous markets. It is an essential aspect of marketing in industrialised countries. Goods are no longer produced or sold without considering customer needs and the heterogeneity of those needs. a) Nature and Purpose of Market Segmentation Purpose of Market Segmentation The main purpose of market segmentation is to allow a market or the marketing program to focus on the prospects. The focus of marketing strategy and force on the subdivision or market segments to gain competitive advantage within the segment. It is not possible to sell everything to everyone in today’s competitive world. Each customer has different needs, wants, tastes, preferences and purchasing power. For example, Kellogs have different type of cereals for kids and adults. For kids they have Kellogs chocos and for adults they have Kellogs wheat flake…show more content…
It involves identifying the sub markets on which the company intends to enhance its grip. The sub market or the underlying market can be identified by three aspects namely the function, consumers and technologies. It is based on the general characteristics and provides identification of the commodity market. • Product segmentation: also known as micro-segmentation. It takes into consideration the diversity of the needs of the consumers due to difference in their needs and preferences. • Competitive segmentation: market niches not occupied by the competitors. This type of segmentation basically meets the needs of the consumers from market parts where the manufactures neglect the needs and preferences. Such market segments are called market window. Nature of Market Segmentation Market segmentation is the first step in three steps of STP. STP is the acronym for Segmentation, Targeting and Positioning. Market segmentation in brief is division of total market into market segments or target segments based on consumer preferences and needs. Market segmentation helps the marketers to market their products and services to the appropriate segment based on the segmentation. It helps the companies to produce products and services that matched the customer
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