1.0 Description of the Company The Body Shop International PLC (The Body Shop,TBS), founded by Anita Roddick in UK and opens her very first shop in Brighton in 1976 . TBS is a multinational company which mainly producing natural inspired ethically skin and body care product solely made by 100% organic and against animal testing. TBS headquartered in London, UK. The company offers its products under various categories such as cosmetics and beauty, bath and body, hair and gifts, products for men to home fragrance. It has more than 2700 outlets in 66 countries, selling more than 1200 products which those ingredients get from all over the world through fair trade . TBS is the first international cosmetics products recognized by …show more content…
Besides, Missha and TFS deal to enhance the product level, both have many flavors of products can be choose and they strongly emphasize on their naturally. The product of TBS offers the same benefits that Missha and TFS had. Difference between that is TBS create the values makes consumers be humanity and create harmonious world through their organic, cruelty-free products. 2.3 Consumers Market segmentation use to divide a large market into small markets that can develop company’s product and service to a specific group of consumer, including geographical, demographical, psychographical and behavioral. Then, have to go through market targeting and market positioning which are consists of a set of buyer who share common needs that the company decides to serve and a place that product occupies in consumer’s mind relative to competing products. Geographical, TBS has more than 2700 outlets stores in 66 city, state and countries. Demographical, TBS had segmented their product to young female generation between 18 to 25 ages, but now TBS has developed the products for men. TBS has set their products at mid-range price. In European, Asia and US market, 90% of consumers are demanding to medium-low priced products. For India it was targeting only
| According to the text, market segmentation is defined as identifying groups of consumers based on their common needs.Answer
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.
What Is Market Segmentation? Market segmentation is a way of dividing the market into groups of consumers/customers which share similar features
Home Depot 's target market is individual homeowners/small contractors. Even though the traditional ideology is that cost leadership and product differentiation business strategies are mutually exclusive, Home Depot was successful at using a combination strategy. First, Home Depot optimized the cost leadership strategy by offering low and competitive prices to its customers by emphasizing higher sales volumes with lower margins, while instituting a high inventory turnover. Home Depot successfully offered a warehouse product strategy to the individual consumer for the first time. Previously, this type of price discounting was only available to professional contractors who earned product price
Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications
Market segmentation is specific sections of the market that an organisation is aiming at. In order for an organisation to engage its market segmentation the organisation has to match its products to the customers wants and needs to appeal to the customer to buy the good or service. Market segmentation allows an organisation to have a competitive edge and it is a key factor for the organisation profitability and survival. Company use target marketing which is when a business aims all of its marketing effort to a certain group of customers which is affective as these are the group that spends the most. There are many ways to segment the market to create that certain group such as demographics, psychographic, geographically and lifestyle. Demographics is consists of dividing the market into groups based on variables such as age, income, occupation, religion, race and nationality. Psychographic segmentation is based on social class and lifestyle. Lifestyle is based on knowledge, attitude, their uses and segmentation. Geographic segmentation is the segmentation which divides the market but location, regions, countries and cities. Asos as an organisation is aimed at people of the ages of 15-34 year olds who are very fashion forward and who enjoy the culture of online shopping. In geographical segments Asos has created their website differently for 9
Market segmentation strategy involves dividing the market into different groups and how a market is segmented is based on certain variables. A Company must identify the parts of the market it can serve best in order to reach their specific target market as well as to achieve the maximum profitability. According to Prof. Dr. Christian Schuhart, several criteria used for different market segmentation include: demographical, socio-economical, psychographic and observable behavior segmentation.
Since the conceptualization of The Body Shop, their products have been centered on skin, hair, and body care, which are made from natural and exotic ingredients, that will also address social and environmental issues. They have unveiled a number of ground-breaking products that are in line with the brand's position, all the while enhancing their customer's well-being and increasing their self-esteem, without falling into the stereotypical images that The Body Shop has also been campaigning against.
“You’re not the kind of franchise applicant we usually get,” said Harry Robertson, company lawyer for the Body Shop Canada, as he opened his meeting with potential franchisee Richard Paul. “I suppose we’ll find out whether that’s an advantage or disadvantage,” replied Mr. Paul. Mr. Robertson’s comment had taken Mr. Paul by surprise, and though he was pleased with his response, the comment had produced a sinking feeling in the pit of his stomach.
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
MISSHA cut down this expenditure by one-fourth. They used plastic materials for packaging and got rid of paper box and product sheet. Instead, they developed a nice design for brand logo. They tried to avoid building a cheap brand image.
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
Market segmentation is a strategy that involves breaking down a business’s current target market into smaller subsets in order to establish a more defined set of market categories. It is important to first look at the tools available to assist with segmenting the market prior to beginning your segmentation. These tools include the following:
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
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).