Market Segmentation - Power Bike in Thailand

6. What are the different ways to segment a consumer market? Does it make sense to use more than one segmentation variable? Why or why not?

our business. As the president and the CEO of Bikes Bikes Bikes, I am proud to present to you the

| According to the text, market segmentation is defined as identifying groups of consumers based on their common needs.Answer

Overall the paper well explained the context of the e-bike system. The author truly delivered the paper with good ethos, pathos, and logos. Started by informing the reader who they are, they built up a credibility. Their pathos comes when they used so many techniques such as compare and contrast, narration, and process. The logos were being delivered on their scientific method where they use testable questions and empiricism technique. The simplicity makes the writing looks concise, but at the same time it is easier for the reader to understand the article. Moreover, they also do the deep research on each variables that they need in this writing, because based on the data, the researchers have been doing the survey throughout the years and

International market segmentation is the dividing of market into segments, this allow marketers to effectively determine whether business can thrive in a particular area. Segmentation is based on four factor namely geographical, psychographic, demographic and lastly behavioral segmentation. Geographical segmentation refers to grouping markets geographically such as nations, states or cities. Psychographic segmentation is the dividing of buyers into groups based on lifestyle or social class/status. Demographic segmentation uses factors like age, gender, occupation and etc to separate markets into groups. Last but not least, behavioral segmentation, this kind of segmentation divides buyer into groups by their knowledge about particular

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

Additionally to the Market segmentation, many retailers and businesses use the segmentation as a marketing strategy and a factor when determining such as the location of a store, or the products that are going to be sold. Some of the strategic methods that are well known and utilized by many businesses are the Geographic, Demographic, Psychographic, and the Behavioral segmentation. I will focus more on the Geographic segmentation which creates data from the consumer's zip codes, neighborhood population and household income, and much more. Overall every retailer's focus is to have a successful business, and when doing that you must know who you are targeting and undergo research about those consumers who will be purchasing your products. This

Psychographic segmentation is consits of assumptions for example is customer purchases reflect the lifestyle or represent him or her characteristics. According to this information Volkswagen reachs to all groups through their products as Polo, Beetle, Passat, Passat CC, Toureg, Scirocco etc.

As a first-rate bicycle corporation we strive to ensure a generation of high quality bikes. We utilize our high quality, durability within our products, and relatively low price to garner satisfaction from all of our customers. Our stress-free environment enables our unique employees to eagerly apply their expertise and aid our customers in every way possible. By satisfying our retailers with generous investments we envision MDBK bikes to be in every household across the globe. We aim not only to expand and, subsequently, secure job occupations to satisfy trade unions, but to also gain vast recognition as one of the most preeminent bicycle companies in the world.

Consumers are not limited to a single market, many of them will be purchasing multiple bikes, but all of them have specific preferences. Successful company will meet customer’s needs and maximize sales by growing the potential market size as well as taking sales from competitors.

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.

To fill their psychological needs of freedom and individualism, as well as their sense of adventure, women are purchasing customized motorcycles by the thousands. Harley Davidson has certainly recognized the women motorcyclist market as a great growth opportunity for

You partner with a major Indian small car manufacturer such as Tata or Bajaj to take its people’s car frame and mechanics and convert it to electrical power ($5,000 at retail), make it super safe and add commuting delights ($1,500 at retail), give it super

Segmentation is a tool; purpose is to choose target market.Segmentation comes prior to target market Many different tasks are involved other than segmentation when choosing target market Look at each segment on its own as an individual marketing opportunity. Potential worth of each segment To examine whether the whole market should be chosen or only few segments To find segments which are less satisfied in market from competitor brand.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.