Further, the USP is that Bremont watches have created their international Watch segmentation essay example and tie ups with other renowned brands, Martin Baker, Jaguar and Norton are some of the greatest brands which are associated with Bremont watches and indicates towards the level of luxury status of the cited brand.
Psychographic Segmentation Closely aligned with psychological research is a valuable marketing tool that can help identify future market segments that are likely to be responsive to specific marketing messages.
The industry standards have been followed by the company which also corroborates towards the highest level of competitiveness. To estimate the size of the target market, the marketer can use the secondary demographic data which would definitely be provided by the Australian Bureau of Statistics ABSor undertake a probability survey themselves, which can then be a guide in reflection of the total market.
Students who want to have a career in health and beauty and are fresh out of high school, seem to be a target segment for AHBAI however they do not outline the ages that they are observing, but they do take other variables into consideration like academic achievement, school activities and extracurricular activities.
Other upper income consumers, however, continue to buy fine, expensive watches for suitable occasions. Stability There has to be some sort of relative stability amongst the consumers in terms of needs, and demographic and psychological factors, which are more than likely to grow and expand over time.
Its new low-price watch, the Timex, had obvious appeal for the first segment, and it catered to the second segment as well.
Introduction to Marketing in Business. Further, the positioning and segmentation had also done in an appropriate manner. Finally behavior segmentation, divides buyers into segments based on their knowledge, attitudes, uses or responses concerning a specific product Kotler,p. The marketer is then able to create specific messages for each target group, keeping in mind the budget available to present these messages to the audience.
An intra- and inter-organisational perspective on industrial segmentation: The class of people and their economic stability, per capita income and status also become part of segmentation with relevance to any region or area.
There can be many variables that can affect this segmentation by location, which therefore does not allow the same marketing strategies that can apply to one location, to a totally different location like for example, climatic and regional differences.
In order to increase the unique features of the product and to outrun the competitors the company have Watch segmentation essay example into tie ups not only with other companies, but also they have their association with celebrities as well Vieceli And Valos, Major watch companies know that they must plan product line, pricing, advertising, and distribution within the framework of the three basic value segments of this market.
Even this is involved in a process, beginning from identifying the communication objectives, then selecting the appropriate audience for the message and the appropriate media through which to reach them, and then design the message so that it is appropriate to the medium and the audience Schiffman et alpg.
They have set mindset which allows them to focus on a particular range of customers -Marsden, The people who fall in the middle age group are mostly targeting people for the company. All custom papers are written from scratch by professional academic writers.
The material which company used is something which enables them to get the support and appreciation of industry experts and authority bodies. In case of increasing the sales ratio with respect to the proper segmentation the campaigning of Bremont watches is quite attractive.
Positioning The company has positioned itself in well organized and proper manner. It is something which is positive for the company and is generating a high level of business for them Donnelly and Harrison, However, the total market consists of a large population therefore there must be further research to be carried out, as a means to select the potential market and this is where segmentation occurs.
But still the competitors required to be managed at very large scale. These characteristics include age, gender, marital status, income, occupation and education, which can provide the basis for this particular segmentation.
Marketers are also able to expand that same target market or enter a new market in response to their consumers needs and wants. Marketers tend to avoid those segments that are highly unpredictable, which are sometimes observed through the teenagers as they are a sizeable and easily identifiable market segment because they are eager to buy, eager to spend and easy to reach, however their attention span are quite limited.
Further other social media websites also register the presence of Bremont watches and it also allowed them to position themselves in an appropriate manner. Associating with apex brands in the automobile industry like Jaguar is one kind of positioning status, which facilitates to increase the profitability and generating more business Schaefer, There are various other innovative approaches which also increase the competitive advantage of the mentioned business entity Sharp, It can definitely create tough competition.
Their main focus is on the large Black Community within the US, but they are also starting to go abroad as well. Identifiable Marketers must be able to identify and measure the relevant characteristics to divide a market into separate segments on the basis of a common need that is relevant to the product or service.
Ahead innovation is something which is essential element to become the luxury brands.Aug 14, · This variable refers to the more intrinsic qualities of a consumer. Consumer segmentation is usually based on specific psychological variables, for example, their needs and motivations, personality, perceptions, learning, level of involvement and attitudes.
Psychological segmentation pretty much outlines the desires of an individual. Mattel Inc. Segmentation. Mattel is a global toy company that has been around since They are the company that introduced Barbie and Hot Wheels to the world as well as many others toys.
Mattel has license agreements with Walt Disney and Nickelodeon. We will write a custom essay sample on Mattel Inc. Segmentation specifically for you. Dissertation and Essay Samples:Marketing and company overview essay on Bremont Watches The partnership with Jaguar provides the new height of success of to watch manufacturers and enable them to increase their competitive advantage.
The design of watches is also attractive which creates their distinctive identity as compare to its. Successful segmentation requires the following: segments have to consist of members that are similar to each other; segments have to be distinctively different from each other; segments have to be computable and sizeable; segments have to be reachable and actionable; target segment has to be big enough to be financially valuable.
Marketing Segmentation: United Health Care An integral part of a business’s market strategy is market segmentation. Market Segmentation is that process of breaking down a large market into smaller groups of consumers so that they can market more efficiently.
Concept Of Market Segmentation Marketing Essay. The marketing theory demonstrate that to develop a successful marketing strategy correctly, service marketers must develop segmentation strategies based on the attributes and behaviour patterns of target customers.
These attributes would be related to the use of the service.Download