Market Segmentation Assignment Help

This is solution of  Marketing Assignment Help describes about the various facts of market segmentation and principles.

IntroductionMarket Segmentation Assignment Help

For the marketing of any product, it is important to identify the market segment which the product targets. Market segment is important as it helps in segmenting the target audience and plans the advertising strategy accordingly.  Many brands and products differentiate their customers on the basis of behavioural traits and objectives. The segmentation can be done like money-minded, brand conscious, budget conscious, benefit seekers etc which defined the targeted audience. For this study, I have selected watch brand as I have good understanding of the brand. The brands selected for the study follows a distinctive approach in targeting the audiences.

Market Segmentation

Benefit Seekers

CITIZEN is the affordable brand being preferred by the students and the customers who expects to have beneficial deals.

Targeting: 

  • Demographics
  • Gender: Female
  • Age: 22
  • Occupation: Student
  • Income: Dependent on parent’s income
  • Location: Berkley
  • Class: Upper middle class

Background

  • Name: Allina William
  • Pursuing masters in Information technology
  • Lives in hostel
  • Depends on the pocket money
  • Mostly shops online through websites offering discounts and offers
  • Mostly prefers Citizen in the names of watches.

Identifiers

  • Do not have specific choice of brands
  • Inclined towards the beneficial deals
  • Uses Facebook, LinkedIn, Twitter
  • Socially active

Real quotes

“Earn wisely and spend wisely”

Positioning statement:Beyond accuracy”

Social Status

ROLEX, is been listed in the top most luxurious brands and only afforded by the rich people and living a high status living. This is been considered as a status symbol in the society by these people.

Targeting:

Demographics

  • Gender: Male
  • Age: 24
  • Occupation: Own business
  • Income: Above 1 million
  • Location: Los Angeles
  • Class: Upper class

Background

  • Name: John Adams
  • He own a Information technology company
  • MBA from San Francisco in computers
  • Belongs to a high class rich family
  • He prefers to wear Rolex always either formally or informally.

Identifiers

  • Has a large wardrobe which includes all the brands
  • Passionate about branded watches
  • Mostly make online shopping
  • Prefers brands such as Rolex, Armani, Land rover
  • Enjoy social life a lot
  • Uses Instagram, Twitter, Pinterest

Real quotes

“Brand signifies your way”

Positioning statement:Live for greatness”

BUDGET CONSCIOUS SHOPPERS

TIMEX, is been considered to be an affordable brand and could be availed without any of the extra costs. It has been preferred mostly by the mid class people.

Targeting: 

  • Demographics
  • Gender: Male
  • Age: 25
  • Occupation: office job
  • Income: 70k annually
  • Location: San-Francisco
  • Class: Middle class

Background

  • Name: Peter Wilson
  • Works as an executive in an manufacturing company
  • Bachelors in Commerce
  • Belongs to a middle class family
  • Married and singly man who earns in the family
  • Keeps Timex at the top in the watches

Identifiers

  • Responsible and concern towards the family
  • Thinks twice before spending money
  • Keeps records of every expense and make a note so that to control the unwanted expenditures
  • Access Facebook and Pinterest
  • Brand such as Citizen, Top man,

Real quotes

“Money is valued”

“Value your efforts”

Positioning statement: “Live the moments”

ATTRACTED TO STRONG BRANDS

CALVIN KLEIN is a brand which is popular among ladies with its unique designs and patterns. This segment of people mainly moves with the popularity of brands and their ratings.

Targeting:

Demographics

Gender: Female

Age: 26

Occupation: Fashion designer

Income: 500k annually

Class: Upper class

Background

  • Name: Julie Edinburg
  • Bachelors in Fashion designing
  • Mainly shops online
  • Prefers quality brands
  • Designs unique patterns and move with the trends

Identifiers

  • Has a large wardrobe which includes variety of apparels
  • Fanatical about trendy watches
  • Mostly make online shopping
  • Prefers brands such as Angels Jeanswear, Lee, Tommy Hilfiger, etc.
  • Active socially
  • Uses Instagram, Twitter, Pinterest

Real quotes

“Live with an attitude”

Positioning statement: “Quality is remembered long but the price is forgotten”

TARGET AND POSITIONING FOR MERCEDES C CLASS

Mercedes-Benz C class is a line of compact executive cars produced by Daimler AG. This car has been segmented into the sedan. The current generation W205 C-class is a combination of luxury, safety, and power that required positioning more appropriate manners by identifying the target market.  However Mercedes has big brand value and know for high quality and performance cars that have been made for upper and business class people but the organization has to make a strategy for every vehicle for better sales by influencing the needs and perception of the audience.

Positioning of car:

            Organization has adopted a positioning strategy by considering the needs and expectations of customers. The management could position the C-class as highly reliable and safe automobile at the premium prize and international quality. This kind of advertising will help Mercedes to position the car in the international market including the process of outstanding services. In addition to this, positioning will involve the core mission statement that Mercedes follows for luxury, high performance and passion of speed with effective controlling.  Now, to advertise the facts and features organization could use the multi-level marketing campaign like videos and images of the car on social and print media that will help to engage the people to gain knowledge about the new variant of Mercedes. Moreover, by creating the awareness about the usability and experience of driving the car will help to better position and gain the competitive advantage. The organization would target the young drivers who have passion about the style rather than speed.

Target audience for Mercedes:

Targeting is one important marketing element that has significant impact on the advertising planning of Mercedes. This will help to design the marketing plan according to needs and expectations of target audience. Following are the target audience for Mercedes C-class:

  • Rich people: Mercedes is expensive brand that made cars with superior quality in engine, interior and performance that increase the cost of manufacturing. The major target group for organization will be upper class and business people.
  • Style lovers: The organization has developed the design using the stylish headlights, dashboard, wheels and interior. By promoting this, organization will target the young age people who are looking for style with luxury.

Persona for Mercedes:

Demographic

Age: 25

Gender: Male

Occupation: Entrepreneur

Income: 15 million per year

Social class: Upper

Status: Unmarried

Background:

  • Name: John Carter
  • He is emerging entrepreneur in e-business industry
  • Interested in driving
  • Has 1 BMW
  • Spend time searching of new styles in car designs

Identifiers:

  • Found of stylish cars
  • Always seek for luxury
  • Use high quality things
  • Passionate about the collection of stylish cars 

PERSONA- KELLY MADISON

Demographics:

  • Age: 23
  • Sex: Female
  • Profession: Media & communication
  • Earnings: 65k per year
  • Social Class: Middle Class
  • Status: Has a boy-friend

Background:

  • Name: Kelly Madison
  • Masters in mass communication media
  • Supervisor of fashion editorial in magazine
  • Loves online shopping

Identifiers:

  • Uses social sites frequently
  • Operates Instagram, Whats App, Snap Chat, FB, twitter
  • Likes shopping very much of shoes and clothes
  • She used to show off new and exclusive things to their buddies
  • She uses online shopping on special occasions
  • Used to do gym to maintain her body fit
  • She loves Spa Days to her body and vacations to enjoy
  • She writes her own blog and also remains energetic at 10 fashion blogs

Goals:

  • She wants her own Fashion Magazine
  • Desires to discover the world
  • She will settle down with her beloved
  • Has a passion and focal point for her objectives
  • She wants to expand her position in the job

Challenges:

  • The relationship with her beloved is irritated sometimes
  • She become so confused with lots of awareness about fashion in the case of insufficient amount
  • The addiction of online shopping become problematic
  • She has lots of work in few times
  • It is important to stay in shape and looks awesome
  • She cannot purchase all things

Real Quotes:

“New clothes are essential for maintaining the high standard in the society”

“Clothes and shoes are such things that can never satisfy despite having more”

Common Objective:

She used to influenced her readers with her blogs

She becomes a great research in the fashion field and uses a lot online store for shopping.

Maddox Smith

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