Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Marketing Segmentation for a Sports Car
There are a multitude of segmentation strategies available to auto manufacturers who are selling sports cars globally. The basic segmentation approaches include demographic data on potential customers, including their age, income, professions, martial status, gender and previous car buying history. This would be consistent with measurable segmentation strategies. The substantial differentiation strategies often rely on segmentation on pricing alone, which is commonplace in commodity-like industries yet not so prevalent in sports cars. Differentiable segmentation is based more on the perceptions of consumers, influenced by the market positioning and unique value propositions that auto manufacturers create to distance their brands and autos from competitors. The use of benefit-based marketing that seeks to capitalize on the unique values and needs of a given segment of auto purchasers has proven to be effective in increasing sales (Sukhdial, Chakraborty, Steger, 1995). There is also the ability to segment markets based on how potential auto customers assign themselves into groups. This is called psychographics (Youn, Kim, 2008).
In terms of the least important of these segmentation approaches the least important is substantial, as a unique value position and resulting unique market position would be of more value. Creating segmentation strategies based more on the attitudes and values of auto consumers (Sukhdial, Chakraborty, Steger, 1995) has proven to be effective. Unique value propositions that resonate with potential sports car purchasers need to align with their values, preferences and self-concept. The potential customers must see congruence between their own values and needs and the segmentation, market messaging and market positioning of the sport car for any marketing campaign to be effective over the long-term.
References
Sukhdial, Ajay S, Chakraborty, Goutam, Steger, Eric K. (1995). Measuring values can sharpen segmentation in the luxury auto market. Journal of Advertising Research, 35(1), 9. Retrieved October 11, 2008, from ABI/INFORM Global database. (Document ID: 4394190).
Seounmi Youn, Hyuksoo Kim. (2008). Antecedents of Consumer Attitudes toward Cause-Related Marketing. Journal of Advertising Research, 48(1), 123. Retrieved October 10, 2008, from ABI/INFORM Global database. (Document ID: 1468396781).
All legal stipulations in regard to the usage of licensed and branded merchandise would be respected. 8. Sales It is initially expected that the aerobics class would sell subscriptions to 1,500 customers. This high volume of sales would be due to promotional offers which promote the aerobics class at lower retail prices. As the promotions expire however, a small decline in the number of sales is expected. The company is however confident
MARKETING Discuss product service terms current target market demographics U.S. Census Data. 2.Determine product service declining popularity. Be include information social, demographic, ethnic markets; economic technological factors; political legal factors; competitive factors. Product description The market for bottled water in the U.S. has been experiencing a steady decline in growth as a result of huge awareness campaigns that are conducted to curb consumer demand. This is in contrast to other parts of the
Marketing Activities of Monster Energy Market Activities of Monster Energy Monster Energy is an energy drink produced and launched in 2002 by the Monster Beverage Company through an affiliation of another company the Sacks and Schlosberg (Gitman & McDaniel 2007). The beverage was produced after the demand increment of the drink to the customers. Its most target consumers are the university students, truckers and much of the sport fanatics. The company works
Marketing Plan Company description Royal line clothing was founded five years ago by tow Entrepreneurs, Nick Neumann and peter Jefferson. Nick is a holder of an undergraduate degree in marketing and has worked for a long period in the retail clothing industry. Jefferson on the other hand owned an adventure business but ended up selling this business to a person they were partnering with. Jefferson and Nick have been good friends from
It was especially effective when evaluated for the specific demographic segmentation the organization was targeting. Young adult males were particularly inclined to watch the commercial, thanks to the buxom, bikini-clad beauty as the star. In addition, young adult females were more likely to relate to the star of commercial, more so than if they had cast a middle-aged housewife. Although these demographics were more likely to watch the commercial,
Marketing Research on Athletic Shoe- Industry The brand caters a promise of reliability, in effect that one stand behind their product. Branding is not an action we can realize overnight. A successful brand is built over time from the hundreds of little things we do right. . The brand is, at its core, an declaration of a standard performance. It guarantees that the product or service carrying that brand will live