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454685-Marketing Management.
454685-Marketing Management.
454685
Semester: II
Segmentation S
Targeting T
Positioning P
Using segmentation techniques, divide the market into distinct groups of
customers (segments). Determine which customer segment (group) to
target with your marketing efforts. Create a product positioning and
marketing mix that will appeal to the target market.
Segmentation:
Demographic- Demographic data helps in determining the size of target
market. Market can be segmented on the basis of its demographics such
as age groups such as youth (18-25), matured (25-45) and elderly (45
and above). Gender also plays an important role in market. Segmentation
can also be done on the basis of income, social class( upper, middle,
lower), gender and occupation as it shows the individual’s purchasing
capacity. Harley Davidson has divided its audience into segments on the
basis of age group as it has analysed that the youth and matured people
are more enthusiast about bikes than elderly people thus it provides the
accessories and clothing according to their style, on the basis of gender
that males are more interested in motorcycles and a few females too, on
the basis of income that the middle to higher upper class people buy its
products more and prefer the premium services and quality too. It
additionally organises events and adventures as to retain its customers by
simply developing an emotional connect with its products.
PSYCHOGRAPHIC: – Psychographic segmentation can be done on the
basis of activities, interests, personality and life style. If a consumer has
interest in long drives and cruising then he will look for some specific
requirements in his motorcycle such as fuel economy, good suspension,
comfortable seating. Personality and behaviour traits of a consumer also
affect their purchasing decision to a great extent. Harley is chosen over
others because people love to ride and buy premium motorcycles. The
distinct & innovative design has helped the company in making Harley
motorcycles popular across the world.
BEHAVIORAL: – Another way of segmenting the market is on the basis
of how the consumers actually use the product and what all benefits do
they seek from the products. For two wheelers, the end use of the
product can be multifold. Some consumers just see it as a mode of
transportation. But for some users such as youngsters, having Harley
motorbike can be a status symbol. Consumers want different benefits
from their two wheeler vehicle such as quality, fuel economy, after sales
service and looks.
Geographic segmentation- It means calls for dividing the market into
different geographical units such as nations, states, regions, counties,
cities, or neighbourhoods. For example- Blockbuster, which has databases
to track the video preferences of its 85 million members and buys
additional demographic data about each store’s local area. As a result of
this segmentation, it stocks its San Francisco stores with more gay-
oriented videos, reflecting the city’s large gay population, while it stocks
Chicago stores with more family-oriented videos. The key markets for
Harley are the USA as it amounts to 71% of company’s total automotive
revenues, while Europe is the second largest market for Harley and ither
countries such as Japan, India etc.
QUESTION 2.
INTRODUCTION:
Example:- Pottery Barn Kids tugs at the heartstrings with a cute kid in a
well-designed room. This could be your kid. This could be his room. Forty
percent is a significant discount for an expensive item, and “select
dressers” builds mystery. Which ones? Maybe there’s one that I’ll really
love? One thing I’d have changed would be to have only one CTA. If they
clicked “Shop Now,” you could easily have a CTA to find a store on the
other side.
Promotional strategies that could be used for the company Toms Shoes in
India would be promotional tools.
VARIOUS WAYS:
1.Advertising 2.Personal selling.
This is a non-personal promotion of products
and services. Marketers use it as a vital tool for This is a one-to-one communication
increasing brand awareness. between a sales representative and a
Advertisers show promotions to masses of potential customer. Direct selling influences
people using email, webpages, banner ads, people to decide to buy certain products or
television, radio, etc. services.
Various ways: It is one of the most effective ways of
Tom Mycoskie Could advertise his promoting your brand because the sales rep
company by giving advertisements on can tailor the promotion precisely to those
television, posters in newspaper, emails who are most likely to make a purchase.
to their customers, hoardings and On the other hand, this is the most
billboards on the crowded areas of the expensive form of sales because companies
road, cookie based advertisement on the need to pay for one person’s time.
web pages, in store advertising, print Various ways:
advertisement in magazines, product Toms Mycoskie Should appoint
placements in entertainment media salesperson who could meet the
YouTube video, in between advertisement needs and wants of the consumer and
on various OTT platfroms, hoardings in support them with the Shoes they
various malls and sport or footwear shops wish to buy. Salesperson can you
etc. suggest the customer and provide
Firm can invite Mr. Sunil Chhetri or great him with the options of the shoes
influencers of sports such as M S Dhoni, available with the company.
who can represent as an image ideal for This salesperson could meet the
consumers. objections and concerns of the
customers. They can also send google
forms via the e-mail platform which
would help them accumulate data on
an individual basis and help them
cater to the needs of the customers.
Finally, the salesperson must follow
up with the shoes provided to the
customer.
5.Public Relations
Public relations is defined as “the management
function which evaluates public attitudes,
identifies the policies and procedures of an
individual or organisation with the public
interest, and executes a program of action to
earn public understanding and acceptance.”
Various ways:
Toms Company can organize fundraising
campaigns and community activities
telling the customers that every pair of
shoes that Tom sells, it gives a pair of
shoes to a needy child somewhere in the
world so that would make a profit while at
the same time helping the needy of the
world.
He could encourage customers to buy
more shoes so that poor children can also
have shoes and they don’t have to walk
barefoot.
STRATERGIES:
Life without TOMS SHOES campaign
Toms shoes are most comfortable and most long lasting shoes. Every pair
of shoes that Tom sells, it gives a pair of shoes to a needy child
somewhere in the world so that would make a profit while at the same
time helping the needy of the world and making sure that social welfare is
done.
Challenge: Tapping into one of the world’s biggest and most competitive
markets – India!
Execution: They need to be witty and wise in order to strike the cord
with the Indian audience. They took a desi route and create something
extraordinary. They release a few short videos featuring footballer, Sunil
Chhetri from India and M S Dhoni a recognized face among the
youngsters and the youth in India, Throughout the campaign, they subtly
highlighted the advantages of Toms Shoes over traditional TV watching
with their wide choice of shows and films to choose from.