Lawn Mower

Consumer behavior is also a factor to be considered, because factors affecting consumer behavior will make clients not to buy, for one reason or another. To get the target market or rather to increase the target market, one has to create and deliver content that attracts and contains customers. As is in the case of our products in John Deere Company, necessary strategies have to be implemented to retain the new target market. Marketing strategies capable of luring people especially the old

Trader Joe’s is an organic grocery food store that is one of the best known organic food chains. By listening to the consumer and adjusting to the changing consumer market, Trader Joe’s had built a brand equity that is continuously growing. Trader Joe’s faces stiff competition from other large organic food chains therefore must stand out and adapt to the consumers’ needs. Marketing strategies are important to communicate to the consumer more effectively and help target the consumer to their product. Trader Joe’s segments its products by psychographic, behavioral and demographic characteristics

Customer profitability was a determinant used for segmenting and targeting, studies were done on customers’ likes, dislikes and types of products they would benefit from and models were developed to determine their propensity to buy.

The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.

Demographic Segmentation fragments the market into categories according to different demographic factors, usually with regards to the wants and needs of multiple consumer groups. The

All segments are critical for the implementation of our company’s strategy because we chose to be broad cost leaders. Cost leaders maintain a presence in all market segments by focusing on low production costs and competitive pricing. With that in mind, one segment is considered to be slightly more important than the others: the low end segment. We will compete in every market segment, but this is one of the most important due to the fact that price is the main consideration of the buying criteria at 53% importance. Our costs will be much lower than our competitors which translates into a lower market price for this product, which is ideal for our customers.

understanding if a certain segment of the market will truly appreciate a product or service to be

How should this market be segmented? Identify the key segmentation variables that are relevant for this market.

“need” of usage, stemming for lifestyle choices. As the barrier to entry is relatively low

Market segmentation allows marketers to understand customers’ needs and identify target markets (Peter & Donnelly, 2011). Bright Light Innovations will be able to evaluate different segments to determine differential advantages in each of those segments. Furthermore, management will be able to determine any of the particular marketing mix for a more successful strategic plan. Market segmentation can be obtained by researching geographic data (zip code, region, etc), demographic data (age, occupation, nationality, etc), psychographic data (social status, personal type, etc), behavioral data (customer behavior), or any other data that can be beneficial to the research (Kawasaki, 2004).

Every day, hundreds of new products are introduced into the market. When launching a new product, companies face many difficult decisions such as choosing the optimal target market. Determining the best target market for a new self-propelled, robotic lawn mower will require proper segmentation, targeting, and positioning. The consumer market should be divided with demographic and geographic segmentation; the entrepreneur should target middle-aged and elderly homeowners in sweltering locations; and the company should apply a “more for the same” positioning strategy.

The segmentation has been done on the basis of buying behavior of the customers. Knowledge of segment buying behavior can help redirect marketing resources for profit gain.

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

– Current market situation: detailed consumer and business market segmentation and analysis of market drivers will be undertaken to identify the most valuable

Market segmentation is based on the assumption that not all consumers are alike and each have different needs for the products and services provided by MTN. Based on this premise, the broader market can then be split into groups of consumers who have similar needs and requirements. The characteristics of the product and services may determine the criteria in which the market may be divided by factors such as geographic location, income, age or gender. In this regard marketing activities and campaigns can be developed and implemented to target specific customer segments.