As a marketing consultant you have been invited to give a talk on the benefits of market segmentation &on the basis upon which consumer markets can be effectively segmented. Today I will be discussing with you, from my point of view as a marketing consultant the importance of Segmentation especially when it comes to such a large market as a consumer market. Their are 4 different segments which can be used on segmenting you market but before choosing which one you have to see a number of questions which will affect the way your company functions best.
These are: Although this has 6 different aspects to it not all affect the market of clothing we are trying to promote. In our case the important ones are; Usage were you have to see were the consumer uses the clothe s purchased those he/she use them as casual clothing sports clothing or smart. Loyalty to brand helps you identify between the consumers which buy a lot being hard loyal and buy nothing but your brand of clothing are they soft core loyal which tend to have two favorite brands including yours. Are they shifting loyal were they change their taste for brand every so often, or you may also have the switches who are not brand loyal at all they change there mind all the time.
The last way in which it can be segmented in behavioral segmentation I believe is the benefits sought out of buying your product and not someone else’s. Did they buy your product because it is a renowned brand name and want to be like others, do they want to look good or is it because they find your prices reasonable. I hope that trough the steps I have given you to show what has to be done before and during your segmentation will help you in any way with your organization. If you would like to ask any questions about any queries you might have on what is the best way go ahead and ask. I hope you have found my advice useful and I wish you the best of luck. Thank you.
What is my market? Who is my target market? Which is the best media to attract them? When these are considered you can start seeing which methods of segmentation apply to you. Is it better to use Demographic, Geodemographic, Psychographic or Behavioral segmentation. Since there are many different market to consider in a consumer market I am going to use one as an example to show the efficiency and importance of segmentation. I am going to use a clothes outlet factory.
My market therefore is a clothes market which has a target market on teenagers and sportsmen due to the fact that they are selling sports clothes and therefore narrowing our target market to youngsters and athletic people. Ok know here you have to decide what segmentation is going to be used. I am going to give you my opinion as a marketing consultant on the way I would go about it. I would choose both Geodemographic and behavioral segmentation. The reasons for this choice taken will be discussed below.
I would choose geodemographic because with this type of segmentation we can find out which cities are geographically more sportive to others and by implementing demographic variables such as sport to find out what kind and how many people like sport, age and gender together to find out what age group is fixated onto your market such as teenagers single and married men and women between the ages of 25-43. This will help make things clearer on who you are trying to look for to attract to your clothes outlet and know what type of media to advertise and promote on. As for the second type of segmentation chosen, Behavioral this can be split up into 6 which are.