Entrepreneurial opportunity recognition through a market segmentation of a selected Filipino youth market

College

Ramon V. Del Rosario College of Business

Department/Unit

Business Management

Document Type

Article

Source Title

Journal of International Business Research

Volume

11

Issue

3

First Page

135

Last Page

143

Publication Date

2012

Abstract

Youth travel is of special interest because a considerable number of Filipinos belong to the youth population. By focusing on the youth market, tourism enterprises can maximize considerable business opportunities. This study, using several known motivations and activity preferences of travellers, identified major push motives of young students.

Factor analysis of responses from 117 students revealed four push motives, namely, nature and wellness, education, meeting people and relaxation and unique experience. Young students have been found to travel from the hustle and bustle of city life and contemplate nature, learn, rest, interact with other people and acquire a different kind of experience.

Cluster analysis of responses from 95 students resulted to two market segments, the "enthusiasts" and the "moderates". The "enthusiasts" score higher in the motivations and activity preferences used in the study. The two groups can also be distinguished in terms of age, gender and monthly family income.

The young Filipino traveller is at least "midcentric" using Plog's typology. Product development efforts can be carried out using the findings of the study

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Disciplines

Tourism and Travel

Keywords

Tourism—Philippines; Young consumers—Philippines; Youth—Travel; Entrepreneurship; Market segmentation

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