Marketing Environment
Simon Isrif, 438344, DIM1VC
23-11-2016
Week 2.2 Segmenting markets
(Wikipedia, n.d.)
Describe the market segment(s) your product aims for. What segmentation targeting strategy does the manufacturer follow? Which market segmentation criteria are used? Also describe the positioning strategy used for the product.
Sennheiser has a very wide target audience, from broadcast and audio industry professionals and studio or sound engineers, to regular customers with different price range focusses, age and motives (Wickedweb, n.d.). It is a difficult task for Sennheiser to satisfy this diverse and wide target group and therefore a clear segmentation targeting strategy has to be used. Because of this wide target group, using the Single variable segmentation would be very inefficient, it would take too much time and resources to use one variable at a time to research all the consumers. The Multivariable segmentation technique would be a better fit for Sennheiser, using multiple variables like occupation (for example DJ’s or other audio industry professionals), age and income for segmentation would make it easier to find larger target groups and make the segmentation process more efficiently. Sennheiser has its own fully operating Consumer Division that focusses on staying ahead and researching of upcoming trends and consumer preferences (Sennheiser, n.d.). The positioning strategy used for Sennheiser headphones depends on the target group, the product has to be positioned in the mind of all the consumers of the various target groups and so the marketing strategy differs greatly. The right positioning and strategy for professional users, which can be achieved by for example promotions and advertisements, would be the focus on quality and durability, while for regular user the focus on fun, price and differentiation might be more important.
Describe the basic conditions for effective
segmentation and evaluate whether these conditions are met for the segments you
described before.
The basic conditions for effective segmentation are:
·
Homogeneity
of segments, which means that people in the segment group should have
relatively the same needs for a product or service,
·
Heterogeneity
between segments, which means that people in different segments should have
different needs.
·
Accessibility,
which means that the product or service should be easy to reach due to the
developed marketing mix.
·
Stability,
which means that the segments will be around long enough for any action to be
taken.
·
Buying
power, which means the segments should be profitable enough to compensate for
the developed and maintained marketing mix (Blackboard, n.d.).
Most of the basic conditions for
effective segmentation are met for the segments described before. Homogeneity
of segments, because of the same aim for quality products of the professional
users of Sennheiser headphones for example. Accessibility, due to difference in
positioning achieved my promotions and advertisements. Stability, and therefore
also buying power due to large size and quantity of target groups.
References
Blackboard. (n.d.). Marketing Env2 Wk2 Ch7 Market
Segmentation. Retrieved from
https://leren.saxion.nl/webapps/blackboard/execute/content/file?cmd=view&content_id=_1477773_1&course_id=_30261_1&framesetWrapped=true
Sennheiser. (n.d.). SENNHEISER AT A GLANCE. Retrieved from
http://en-uk.sennheiser.com/about-sennheiser-at-a-glance
Wickedweb. (n.d.). Sennheiser. Retrieved from
http://www.wickedweb.co.uk/casestudies/sennheiser/
Wikipedia. (n.d.). Typical bases used to segment markets.
Retrieved from https://en.wikipedia.org/wiki/Market_segmentation#/media/File:Market-segmentation.jpg
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