Title: Analyze the value of potential market segments in a specific industry.
Course: Hospitality, Recreation, and Tourism II (16999-II) > Section: Reviewing Marketing and Sales

Analysis should include

- defining potential market segments (e.g., student and youth travel, military, education, performance, fraternal organizations)
- assessing the market segments, based on demographic data
- ranking demographic elements
- forecasting opportunity based on number of customers and revenue potential
- estimating the market share (i.e., competition).

Process/Skill Questions:

Thinking

- How might demographics influence marketing strategy?
- Why is it important to identify potential market segments within a specific industry?

Communication

- Why is it important to identify the needs of a particular demographic area?
- What might be inferred about a market from a demographic survey?

Leadership

- How can leadership consider other perspectives on the potential of a market?
- Why is it important to encourage cooperation with a potential market population?

Management

- How does management evaluate a potential market segment?
- How can surveys inform community values?