Market Segmentation Essay
The decision to use the age- oriented strategy to segment the market may not be effective because people become parents at different ages. Promotions and advertising directed toward twenty-something parents may not appeal to older couples with children. Step 2: Analyze each segment Step two of the market segmentation process is to analyze each segment. After identifying potential market segments, it is important to research and analyze the consumers that comprise each segment. You must determine the similarities that connect the members of each segment, and identify the differences that separate en segment from another.
During the analyzing step, you should outline the buying habits, product usage rates, attitudes, and lifestyle choices that represent a typical customer In each segment. Demographic and geographic information will provide a clear customer profile to help you determine the market segment best suited for your product or service. Step 3: Evaluate market opportunities The third step of the process Is to evaluate your market opportunities. The customer profiles you create help you Identify the market segments that offer the sufficient unifies you need to achieve company goals and objectives. Hen evaluating each segment, you should consider your ability to reach the targeted consumer, the number
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HULL targets different types of customers with different set of bath products. For Striving customers it offers–> Lifebuoy and Breeze, For Aspiring it offers > Hammy and basic Lug variants and For Affluent customers–>Pears, Dove and superior range of Lug. TIC has different targeting strategies for each of its brands. They are based on 6 mantras. For Example : Strategy for Fame did Wills ; Segmentation: It tends to target at the young, urban, aspiration women. Its core target group is the upper and mid-segment urban consumers. Group synergy:
Besides, being retailed at departmental stores, it is also present at Wills Lifestyle stores, & TIC hotels Communication strategy: Mostly in the language of the young urban woman professionals-?English. Its aspiration in nature Brand extensions: It has been cleverly leveraged in the shampoos, shower gels, soap and conditioner categories Brand ambassadors: Sophisticated, young, having arrived & beautiful Dippier Podunk is used to further the brand recall Packing: Premium packaging to compete with the likes of Dove. Designed with help from American packaging experts.