Smith (1956) introduces the concept of market segmentation as a strategy. He states (p. 6) that “Market segmentation [...] consists of viewing a heterogeneous market (one characterized by divergent demand) as a number of smaller homogeneous markets”. When segmenting a market, groups of individuals are developed which are similar with respect to some personal characteristic. The particular personal characteristic with respect to which similarity is explored is the segmentation criterion or segmentation base. Segmentation criteria / bases can be socio-demographics (for instance, old versus young tourists), behavioral variables (skiers versus sightseers) or psychographic variables (tourists motivated