Market Segmentation

Directions: Based on course material covered thus far, you must devise and submit market segmentation technique for your fictitious RET business. Remember that although this exercise is based on your fictitious RET business idea, the techniques used for segmentation of the market for your business must be conceivable. Your text will aid you greatly in this assignment. Be sure to use your text as a guide in properly segmenting your target market and location for your RET.

Please submit as a Word.docx in Arial 12 font 100% NO PLAGIARISM or AI

Fictitious RET Business Idea:

"Locked into Family Fun Adventure Center"

Idea: My proposed RET business would be a Family Fun Adventure Center that will be designed to give families a place where they can participate in activities together. The main goal would be to create an environment where families are not just purchasing admission to an attraction, but are creating an experience for the entire family. The Family Fun Adventure Center would offer a variety of products and services to include: Virtual Reality rides, miniature golf, and bowling. There will also be private areas for birthday parties. The most important benefits would be the quality time that families will get to spend together. Another benefit would be convenience. When my family and I visited Disney World we all agreed that the Virtual Reality Rides were at the top of our "favorites" list. Unfortunately, not many people are able to afford Disney for their families and it is a great distance for most people to travel, so the convenience and experience will be a great benefit. My dream location would be in Gulf Shores, Alabama due to the area already attracting tourist due to the beaches. I would want to be located on a major roadway that is easily accessible.

Textbook to reference:

Pfister, Robert E., Tierney, Patrick T. (2009). Recreation, Event, and Tourism Businesses: Start-up and Sustainable Operations.