Mercedes Benz: Marketing Strategy: Mercedes-Benz

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

By using Marketing strategy, organizations concentrate their resources on the greatest opportunities to increase sales and maintain a competitive advantage in its market (Wickipedia, pg1).Market segmentation is the process companies use to divide their market into groups of buyers and establish marketing tailored to individual groups. Market targeting is the process of actually choosing the market which poses the greatest profitability. Positioning involves product placement and helps marketers highlight their product over a competitor. The

What Is Market Segmentation? Market segmentation is a way of dividing the market into groups of consumers/customers which share similar features

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.

Target groups are divided into different groups base on the location and what is more abundant (“males or females”) that will give the highest profit to the company. Market segmentation is dividing the market in different groups for everyone but in different segment based on every individual’s needs. An example of a business that uses all of these techniques is Walmart that provide different products and satisfies the needs of individuals by dividing the store by segments base on peoples needs and also having their online

Market segmentation: The process of dividing a market into distinct groups of buyers who might require separate production or marketing mixes (Wells, Burnett, & Moriarty, 2006).

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

Mercedes-Benz operates on the differentiation strategy. Luxury, prestige and technological innovations drive the company 's production from the high quality small cars and e-bikes of the smart brand, to the premium automobiles of the global corporation.

What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).

Mercedes is a power that's always on demand ; a unique performance , excellence in rides , comfy design , economical fuel consumption & also safety

When the name Mercedes-Benz is mentioned, it needs no explanation to talk about a well company as it, but most people have no idea about this automobile legacy and its product’s line. In fact, Mercedes Benz is always associated with the world class brand of cars, buses, coaches and tracks known for their luxurious nature. Mercedes Benz is not a company in itself; Gottlieb Daimler and Wilhelm May Bach call its parent company Daimler AG, which was founded, in 1890.

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.

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first

For example, the company's Mercedes-Benz cars segment holds a 5% share of the Western European market, 1.9% share of the US market, 1.4% of the Chinese market, and 0.9% in Japanese market. Similarly, Daimler Trucks hold 37.5% market share in Germany, 22.3% share of the Western European market, 25.2% share of the Brazilian Market, and 20.8% share of the Japanese market. Mercedes-Benz Vans holds 18% of the Western European market and 28.1% of the German market. Additionally, Daimler Buses has a market share of 27% in Western Europe, 50% market share in Germany, and 43.1% market share in Brazil. Strong brand recognition allows Daimler to charge premium prices than its competitors and thus register relatively higher margins. In addition, robust market share across different geographies gives Daimler a competitive advantage over its peers and helps it to maintain a niche in the market place. Extensive production and sales network Daimler has a diversified geographic presence with production facilities in 18 countries worldwide. Daimler operates a total of 66 production locations worldwide. The company owns 29 locations in Europe, 17 locations in the North American Free Trade Agreement (NAFTA) region, six locations in Latin America (excluding Mexico) region, three locations in Africa, and eight locations in Asia. The company is actively involved in manufacturing cars,