Peugeot Marketing Strategy

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Peugeot is one of the most well-known French automobile manufacturer companies, founded in 1810 by Armand Peugeot. With many successful sales worldwide, approximately 2.973.000 vehicle sales during 2015 and remarkable rewards, Peugeot can be considered as one of the leading companies in the European and global automotive industry. As noted in the ‘’New Cars Industry Profile: France’’, the companies’ revenue for 2016 was $72.563 million (p.24). All companies, regardless of the industry they belong to; in order to thrive they have to successfully conduct customer segmentation. In other words, they need to divide their potential customers into groups that share common characteristics, needs, etc. More specifically, the consumers can be either …show more content…

In other words, it is essential for corporations to divide and differentiate their customers into smaller groups according to their purchase criteria, common features, needs, desires, etc., so as to ensure that they will be competitive and profitable by building products and providing services that sell and satisfy their potential consumers. As Henry Claycamp states in his book ‘’A Theory of Market Segmentation’’, one of the most considerable and crucial developments in marketing is the fact that nowadays, companies give special importance to market segmentation strategies (p.388). Additionally, by conducting successful customer segmentation, a company may gain multiple benefits. First of all, companies have more probabilities to ensure future growths and be able to launch new products. Furthermore, by segmenting their customers they will gain a competitive market advantage and will be able to raise their market share and consequently earn more profits, fact which will also be translated by raising the percentage of loyal customers (Foundation of Marketing, …show more content…

According to the ‘’Four types of market segmentation’’, which are presented by the British Library, when companies want to sell their products to their B2C customers, they always follow the behavioral, psychographic and profile segmentation. As for the behavioral segmentation, companies are really interested in understanding the factors and motives why people purchase products. For instance, one of the most common forms of behavioral segmentation is when consumers buy on different occasions (Christmas, Easter, birthdays, etc.). Moreover, as stated in the article, the «Psychographic market segmentation is another form of demographic breakdown that enables businesses to understand a potential customer’s habits, hobbies, spending habits and core values». Last but not least, companies always segment their customers according to their profile (location, sex, age, religion, etc.). Furthermore, as stated in the article ‘’How to Segment a B2B Target Audience’’ written by Elizabeth Mott, concerning the B2B potential customers of a company who have a more complex decision-making unit and are long-term buyers, the businesses bear in mind the organizational criteria; the industry sector, the size of the company, its geographical location, the choice criteria (price, product performance, service oriented) and the kind of purchasing, either centralized or

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