Case Analysis Of Selfridges

A target market denotes a section of customers that a business aims at selling its products and services to. Markets can be segmented on basis of geogrphical area, the demographic factors, the psychographic factors, and the behavioral factors of the target population. Demographic market segmentation is determined on factors such as age, sex, occupation, religion, the level of education, and generation it determines the perceived benefits of the product. Based on the demographic features, Harkins Theatres majorly targets parents and children.

Targets market segmentation is primary based on two segments. One being age related and the other being gender related. Both segments allow Target to promote and offer products to a large range of age groups to all genders, increasing their margins for revenue through simply changing color or patterns on apparel to meet the need of all classes. Targets primary shoppers are female from

Nordstrom’s and Topshop’s marketing strategy both target a specific segment of the market. While Nordstrom’s focuses on higher end/quality goods and competitive pricing, Topshop’s offers consumers the runway and street fashion at affordable prices. The companies are examples of niche marketing, which “allows the organization to create more narrowly focused marketing plans for its brands than segment marketing approaches.”(Finch, 2012)

Selfridges is considered one of the top department stores in the UK and a top online destination for shoppers.. Certainly, this is due to the high end fashions, gifts, and household items that they sell at very

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

The assignment reviews industry practices which involve segmentation, targeting and positioning. I will attempt to explain these three consumer behaviors below. The airline industry will use the above mentioned practices in order to enhance and or improve marketing strategies. In order for this to take place and marketing analyst must develop techniques to observe consumer behavior by analyzing segmenting, targeting and positioning for airline industry

Identification of the marketing target: Targeting means selecting those customers who are going to be served by the company are highly potential to the company and also selecting those who aren’t going to be served. Tesco targets a specific segment of population in UK and other countries where the company operates their operation. There are some uncontrollable elements that varies from situation to situation. Those elements are given as follows:

The customers are aware of the brand availabilities in the market. It has long been held that one of the major goals of marketing is to generate and maintain brand awareness.

Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segment to enter. A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.

Most companies today have changed their marketing techniques. Instead of focusing on all potential buyers out in the market, which is called “mass marketing,” they began to implement the use of “target marketing,” which is where companies focus on specific group of consumers that have the highest potential for the company to make a profit. In target marketing, there are four steps that the company must undertake, to design a consumer driven marketing technique. The first two steps involve the company the selecting potential consumers to target on. The first step is called “market segmentation,” and the second step is called “market targeting.” The last two steps involve the company deciding on how to create specific products for their

“Marketing segmentation and targeting are particularly important for finding customers that are the best match for a business’s products and services” (Suttle, 2014, ¶ 2) This statement speaks directly to the ideal scenario every company hopes to find; one where it’s strengths as a product and service provider are best matched with the client and consumer base most in need of these outputs. When reviewing soft drinks giant Coca Cola, we find a company that specializes in diversity; dominating the world’s beverage market with a wide variety of product choices specifically

In viewing the marketing strategic planning as a process of segmenting markets by targeting specific customers and working to assist with positioning. Target understands the current market position by researching the product identity in the customer’s mind. Positioning was based on more than just cost; it surrounded characteristic, fashion, and the direction the fashion is in favor of style. This was the differentiation strategy that was consistently applied since the launch of the chain. To achieve this upscale image, it offered trendy and stylish goods in an environment that was bright and attractive, unlike other discount stores of the time.

According to Blythe (2010), segmentation, targeting and positioning are fundamental to the concept of meeting customer need. This essay will outline and analyse these fundamental tools of marketing in an academic setting, in addition to, assessing how an organisation of my choice applies them in a working environment. Included in this essay, will be an academic discussion of the advantages of market segmentation, targeting and positioning drawing upon views of various scholars. Furthermore, I will provide a profile of my chosen organisation as well as an assessment of their market segmentation, targeting and positioning strategies. The essay will finish with a summary of the main points and will draw conclusions based on the evidence which has been presented.

Many definitions from the experts about brand positioning. Philip Kotler stated that Brand Positioning is the act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s minds (Kotler, 2003, Page 308). Beri (2007, p 469) also mentioned that brand positioning is about how the brand perceived by the target consumer in related to other brands. Based on those ideas, we can determine that brand positioning is about how the brand itself received and placed in the mind of our customers.

Following this perspective, Ballantyne et al (2006), define brand image as the consumers’ perception about the brand. As such, it will guide a future development of a possible bound between consumers and organisations that have its highest expression through consumer loyalty, and the willingness of the consumer in paying a premium price.