Using the lifestyles variable, a potential target market would be those who spend more time thinking about beer than work. The lifestyle of those in the target market could be considered happy-go-lucky. Finally, using the geodemographics variable, a good target market is college students. Many college students enjoy drinking and share a similar lifestyle and demographic makeup. They also tend to reside closely in small geographic areas around campuses.
We don’t have any specific target audience but when we organized some adventure trip at that time we focus more on students and youth. POSITIONING: We positioning in to niche market customer who wants to customize services it’s for niche market. The services provided will be premium service because of the fact that the company will be targeting a niche segment of the
Also people who care about their health and their fitness can also be a target market. This is because our product contains low levels of sugar and healthier raw materials as mentioned previously. Each product could be divided into two main categories. The first one is consumer products. Consumer products are items purchased by ultimate consumers.
To this end, these reasons create different social segments of consumer base for luxury brands, in which their lifestyles and behaviour vary significantly. This suggests that consumer experiences, motivations, and perceptions for buying luxury brands also vary across these social segments (Hennigs 2012, p. 1029). This can be referred to as democratization of luxury. Thus, customers in dissimilar social segments search for varied things while purchasing luxury
One of the foremost reasons behind this is that luxury brands are products with premium quality. The unique style of the products offered by these brands allows them to charge premium price to their customers. By purchasing luxury brands, customers are also building their universal status. Customers buy luxury brands for a few reasons, such as to reflect their personal values or to build their social status. According to Bian & Forsythe (2011), the perception of luxury brand is not consistent across different market segments, this is because luxury is a subjective concept and that depends on each consumer’s perception of indulgent value.
This is done for business to be able to acquire profit from all its segments without them concentrating and relying on one business brand. Segmentation is also based on consumer preference, the type of people, culture, age and their behavior towards the kind of service offered. Sprig need to conduct its interview intensively and target the right and best consumer segment for their service (Rezaei., 2015). The first consumer segment is the demographics; this comprises of age to be focused on, social class of the community and geographical residency. The second segmentation category is behavior.
Explain the company’s current entry strategy stating the pros and cons for each entry mode, and discuss whether the company target is ‘affordable in the luxury market’ given your overall recommendations for ES The ES Company’s has very aggressive policy to market their products in the various markets around the world. The current entry strategy of ES , is classified into four modes, they are as follows. • Licensing • Partnerships • 3rd Party Distribution • Flagship Stores The pros and cons of each mode is discussed as follows. • Licensing Pros: • Low to no cost or risk : licensing the rights of the products to the right organization will be of good move as the risk will be less and cost of initial investment will be almost nil as everything is going to look after by the
We have the following target segments that would contribute the growth of our business. Those are: Business executives for doing their company meetings in rich environment Youth and Teenagers Families Couples The people with age group from 15 to 60. MARKET STRATEGY AND IMPLEMENTATION: Our main attractive strategy is to have a revolving restaurant so that people could enjoy the beauty of their surrounding along with the delicious food. We are looking forward to be successful by providing delicious and tasty food with happening environment. We want to build a strong and powerful identity and for that we are planning to do a grand opening.