Market Segments That You Have Identified, As Well As The Consumer Profile Essay

• Explain demographics, Geographic’s, psychographics and why companies use these methods to segment the market effectively

Orange Kingdom is a clothing retail store owned by Between, Inc. It is differentiated from its family brands such as Between and Old Marine, as it gives an upscale image compared to the other two brands, and targets young professional population aged mid twenties to mid thirties both men and women. It provides mid-scale work-to-play casual and business apparel, accessories, and shoes through about 500 stores including factory stores in the United States. It is also gaining market share in Asia, South America, and Europe as well. In this marketing proposal, I would like to discuss three service options to retain and acquire customers.

10. Conducting a Market Opportunity Analysis (MOA) is the first step in developing a marketing strategy.

Complete a market segmentation of no more than 1,400 words for your buyers. Be sure to include the following:

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

Identify consumer priorities, needs and preferences. In what ways do they impact the marketing mix.

To do this look at the factors which make the marketing of services different form the marketing of products. Give examples of the different mix elements used when marketing services or products to organisations such as government organisations, resellers, industrial firms and non-profit organisations.

Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other

It specifies the person who are the main source of income or via whom the business is growing and becoming successful. It means the customers who are likely to buy the product. One should consider numerous steps while considering the target market for the products. It can be divided into following categories:

Market segmentation is the division of a market into different groups of customers with distinctly similar needs and products or service requirements (Croft, 1994). Its major purpose is to pull scarce resources and ensure that the elements of the marketing mix, price, distribution trends, products and promotion are premeditated to satisfy the particular needs of the different customer groups. City Grill’s main approaches to market segmentation, could include using the breakdown method where they can view the market as to consist of consumers who are in essence the same, having similar tastes, and so forth. Their duty could only be to identify groups which share particular differences. Alternatively they

Finally, the product which gives the greater benefit to the consumer must gather both three characteristics: Functional benefits, psychological benefits, high involvement features.

Our target market is primarily men and women. Their education level consists of a bachelor's degree or higher, with an age ranging from 21-34. Their income is ranging from $20,000 - $45,000. These consumers are image seekers, meaning they are people who want to be known as a status symbol. They have basic wine knowledge and are open to new innovations. They enjoy specialized packaging because they want to feel the confidence that accommodates the luxury lifestyle. It is in their nature to check online lists and research scores of competing wines. The personality of our customers is eccentric, extroverted, open to innovation, and outgoing. These customers look for a wine that is cheap, high quality, luxuriously designed and has a consistent

| For your organization’s product identify two different market segments in consumer market and suggest a full marketing mix.

A scoping of the proposed market research that describes timelines for conducting the research, human, financial and physical resources required, whether the market research can be conducted by internal staff or if external assistance is also required, possible methodologies, sample size, etc.

It is important to research the specific segments in order to market the product correctly to each segment.