ipl-logo

Close Shave Case Study

1523 Words7 Pages

Question 1.
Below is a report on the the importance of market segmentation, targeting and positioning for a branded product that is A close Shave aimed at the consumer.
Market Segmentation, Targeting and positioning are tools to align with the right product for they play an important role to get to the right customer. They allow the marketer to deliver a product within the target audience needs and wants (Pickton and Broderick, 2005: 373). It is a necessity to establish the needs and values of the target customers within each segment, in order for companies to promote their products, brands or services appropriately.
Segmentation: Dividing the market or customers into groups basing on similar characteristics. Example: demographically, behavior, …show more content…

B&G Shoprite may consider segmenting the market for A Close Shave as shown below:
Demographics segmentation; with this a market is identified basing on shared demographic or personality qualities. With this A close Shave can specifically be introduced to specific demographic parameters such as age, marital status, income, occupation and education. Different parameters behave differently.
Age: The consumer’s needs and wants change with age. Therefore some companies use age and life-cycle segmentation, where age and the life-cycle determine the marketing approach. Furthermore the age and life-cycle segmentation are associated with behavioural characteristics and buying patterns.
Marital Status: single people have a tendency of purchasing new items due to the fact that they have no other economic obligations. This is opposed to married people, who have a large economic obligation and thereby they prioritize their economy differently.
Income segmentation divides the market into different income groups. It is used in automobiles, clothing, cosmetics, financial services and travel. Many companies within the mentioned categories seek to target the high-income customers. Others seek to target the customers with a lower income in order to gain consumer loyalty and lessen the competitive …show more content…

Consumers expect basic products with no bells and whistles from a company using a cost leader strategy. Instead, consumers just expect the products to meet their needs and nothing more or less. The company will offer improved quality of products in the industry at an affordable price with high branding, which ultimately helps to position the product in the buyers ' mind as the best quality shaving

Show More
Related

  • Case Analysis Of Clocky

    1808 Words  | 8 Pages

    Assessment of STP Options Both behavioral segmentation and age segmentation are strategies that can effectively divide consumers into two major markets

    Read More

  • Est1 Task 4

    816 Words  | 4 Pages

    The segmentation process allows Company X to understand the changing needs of each demographic. Emerging opportunities can be easily identified in potential markets. To address retail customers within different industries accordingly Company X must develop an effective demographic segmentation strategy. The customer segments of Company X will be a diversified group. The groups are broken down into two main categories which are individuals and businesses.

    Read More

  • United Airlines Market Segmentation

    1027 Words  | 5 Pages

    It is the process of splitting the customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same,

    Read More

  • Costco Target Market Analysis

    812 Words  | 4 Pages

    Market Segmentation: To be of value market segments must be measurable, substantial, accessible, differentiable, and actionable (Kotler & Keller, 2012). Segmentation of demographics for Costco is vast as the current product offerings include all genders, ethnicities, incomes. age groups, and social classes. When considering demographics, it is important to consider the average or typical characteristics of the target market. As mentioned earlier the target market or focus for this company is supplying the small- to medium-sized business and targets the middle- to high-end consumer with its private label brand Kirkland Signature.

    Read More

  • Honda Market Segmentation

    797 Words  | 4 Pages

    Common definition market, which means economic that’s approach customers in terms of people to find a goods or services they want, while segmentation is processes dividing specific part into many parts of some things. Market segmentation is mean an organization target its product, services, or ideas only to specific groups of consumers rather than to everybody, even if it means that other consumers who don’t belong to this target market aren’t attracted to it, for example is ASIMO might be suitable for housewife to do household works. Honda company has been targeted three major part of market segmentation that is include demographic, behavioral, and psychographic segmentation. Demographic segmentation is based on age, income, family size and socio- economic status, etc.

    Read More

  • Pricing Strategy And The Pricing Strategy: Dyson

    1009 Words  | 5 Pages

    To remain profitable and provide value, Dyson should align its pricing objectives and initial pricing strategy with the firm’s mission and target consumers. Innovation—one of the firm’s core values—is costly. In addition, consumers often believe

    Read More

  • Value Proposition Of Fitbit

    1808 Words  | 8 Pages

    Purpose and process of market segmentation The purpose of segmentation is to allow the marketer to be better able to reach the consumer needs and wants which increases the positive responses for the brand. Segmentation is important during the promotion process, this is where the team decided who what and where as well as, age gender and things like buying patterns. Because of this, marketing g segmentation comes before targeting. By dividing the audience, it makes it easier to target exactly who and where to send the devices or what to do with their next model.

    Read More

  • BMW: Marketing Strategy And Segmentation Of BMW

    1649 Words  | 7 Pages

    For example, a person achieves with a goal of making the world a better place can go for a hybrid instead of petrol or diesel versions. Behavioural segmentation Lastly, another segmentation is Behavioural. Behavioural segmentation divides buyers into groups based on their information, manner or loyalty.

    Read More

  • Market Segmentation Of Apple

    1346 Words  | 6 Pages

    a. The product and production orientation of marketing asserted that a company should first develop product and then they should scan the market for sale opportunities. Now days in the modern world the market have changes. The process orientation of marketing requires a company to first to analyse the market, understand customer requirement and then develop products. In todays world, the modern marketing is based on the reverse process, in which the first the customer needs and demands are identified. The subsequent market program of the firm depends on how the market identifies the potential customer, profiles them, target them and positions his offering in the minds of customer.

    Read More

  • Marks And Spencer Market Segmentation Strategies

    1384 Words  | 6 Pages

    BE201 TMA Draft Karim Mahmoud Ghweil Question 1: A. Market segmentation is the process strategy of dividing a product or service for the general or specific groups based on their preferences, style, perceptions, needs, and interests. As Marks & Spencer already segmented its customers in some ways. It used demographic segmentation in which it targeted people with the age of 30 and above and also with relatively good or high income. But why M&S used market segmentation in the first place and how is it beneficial?

    Read More

  • Marketing Segmentation Of Mercedes Benz

    916 Words  | 4 Pages

    Market are segmented in order to make it easier for businesses to target these segments according to the features and habits they exhibit. These segments must be definable, specific, profitable, and is has room to grow. The following outlines the segmentation for the market of Mercedes Benz broken down into demographic, behavioral and psychographic segmentation. Demographic Segmentation: Markets can be segmented by geography where the business would market its offering towards individuals living in a certain area.

    Read More

  • BMW: Demographic And Market Segmentation Of BMW

    1612 Words  | 7 Pages

    Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is "Fraud am Fahren.” In addition to cars and motorcycle, BMW also operates an aircraft engine under the brand name which is known as Rolls Royce.

    Read More

  • Market Segmentation Of Carrefour

    1304 Words  | 6 Pages

    Carrefour had to segment their customers because they had different needs, behaviors, and preferences; therefore, it was difficult for the company to meet every consumer’s personal characteristics (Wedel and Kamakura 2012, p. 6). Carrefour also had to segment their customers because they needed to come up with a marketing mix that will help the firm meet the needs its customers in their target market. Market segmentation refers to the division of a market into segments that are identifiable and similar. These segments refer to a group of people or organizations that have one or more features in common, which prompts to have same product tastes and needs. According to Wedel and Kamakura (2012, p. 6-7), market segmentation is important because it helps the organization to use their resources efficiently and make better strategic decisions.

    Read More

  • Mcdonald's Market Segmentation

    1402 Words  | 6 Pages

    According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.

    Read More

  • Market Segmentation Of Unilever

    761 Words  | 4 Pages

    The process of market segmentation involves the division of a market into groups of smaller size whose needs, behaviour and characteristics are distinct from each other. These smaller groups or 'segments ' may require separate marketing strategies. There are four major market segmentation variables namely behavioural, psychographic, geographic and

    Read More

More about Close Shave Case Study

Open Document