Marketing Segmentation

Core benefits : Core benefit is the major benefit or satisfaction that customers are looking from a good or service one buys. This benefit can be happen from person to person. The Cassowaries watch that we produced provides convenience as well usefulness. The watch aims to improve in style and increases the functions of normal analog watch. In 21st century, the watch exist not only to Just to know about the time, but it can be a part of accessory for people to wear it and be more stylish and fashionable.Moreover, with this multipurpose product, it will enhance your fashion sense and reflection. Actual Product : Actual product is the physical parts of the product like benefits and features that affects to customers who purchase our product. In this level, there are four strategies which involve branding, adding features, organizations and benefits. Also that combines to deliver a product with specified benefits to our customers. The Cassowaries watch already has gone through for the t esting before it actually launch.The functions and designs are further modified to give more satisfaction and fulfill the expectations for customers. The actual benefit that added to our product is a WI-if function. This WI-FL function will allow our customers to use WI-FL through their smart phones. Basically, the watch has same facility as router. It requires customers to log in to our Cassowaries watches website to register, to make a simple contract between customers and our company which allows them to able to use Wi-FL by paying a usage fee per month.Also, we came out with this system that those who register with premium members, they will be able to have luxury to get a free usage of a WI-FL for a week. Definitely the premium registration is more costly, but we are sure that the customers will satisfy with this contract and they will not regret to use our product. Last but not least, we make our watch to be more useful and multi-function. Our watch can be turned into a neckla ce. The chain of the watch can be removed from the face of the watch and the new chain for the necklace which given upon purchase, an be re- clipped in the watch.So it can be a necklace as well. The chain is made of jewels for watch, light material and few Jewels for necklace chain as to prevent the tiring in neck due to a heavy weight of chain. It will make the customers more fashionable as well as stylish. Augmented Product : Augmented product is a commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value such as after sales service.After purchase, we measure the wrist size and adjust the length f chain in the spot for our customers as well as neck size. And so, they are able to wear it right after they purchase. We have total 3 years warranty and guidance booklet will be given for customers who are not clear of using it. There is a website for them to check about our products and Q and A sessions with cu stomer service. Conclusion : Promoting a new product will never be an easy work as the competition is tough and most of customers have high expectations in modern society.It will not be that successful to Just have colorful appearance. What we need is to target correct group of people in right time at the correct place and to focus more on satisfying their needs and wants. However, we will not be able to get a competitive advantage by Just satisfying them over our competitors. Looking forward and predict the needs and wants is the epitome method to gain competitive advantage from our competitors. Http://www. Neurotransmitter. Com/lesson-store/lesson-three-levels-of-a-product. HTML Marketing Segmentation S NO. | NAME OF PRODUCT| MARKET SEGMENTATION| 1. | Gillette Mach 3(New Gillette MACH3 Sensitive is an advanced razor designed for men who want a closer, comfortable shave with less irritation3 – even on the most sensitive areas of the face. )| a) Demographic: 1) Gender: Male 2) Age: 16 and above 3) Income: 25,000 and aboveb) Geographic: Urban areasc) Social Class: Middle class to Elite Class| 2. | Fair and Lovely(Fairness that changes your destiny. )| a) Demographic: 1) Gender: Female 2) Age: 15 and above 3) Income: 20,000 and aboveb) Geographic: Urban areasc) Social Class: Middle class| 3. Faber Castell Colors(Faber-Castell has a time honored commitment to tradition, quality, and innovation for all of its brands. )| a) Demographic: 1) Gender: Unisex 2) Age: 3 years and above 3) Income: 25,000 and above 4) Occupation consume: Studentsb) Geographic: Urban areasc) Social Class: Elite class| 4. | Honda CG 125(Honda Motorcycles is defined by Quality, Performance, Speed, Economy Pe trol and Re-sale Value. All these have managed to successfully bag your trust on the New Honda CG125. | a) Demographic: 1) Gender: Male 2) Age: 18 and above 3) Income: 50,000 and above 4) Occupation: Work with frequent ridingb) Geographic: Urban and Rural areasc) Social Class: Middle (Urban) Elite (Rural)| 5. | Colgate Toothpaste(Strengthens teeth with active fluoride. Fights cavities and leaves your mouth with a fresh feeling. )| a) Demographic: 1) Gender: Unisex 2) Age: 3 years and above 3) Income: 25,000 and aboveb) Geographic: Urban and Ruralc) Social Class: Middle to Elite class| Marketing segmentation a. The process of dividing the total market in to several heterogeneous groups. b. The process of bringing several small, unreachable segments into a definable market segment. c. An attempt to reach all consumers with a single marketing mix. d. Practiced by both profit-oriented and not-for-profit organizations Market segmentation is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. That is, they are likely to have similar feelings and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way, and promoted in a certain way. Broadly, markets can be divided according to a number of general criteria, such as by industry or public versus private sector. Small segments are often termed niche markets or specialty markets. However, all segments fall into either consumer or industrial markets. Although it has similar objectives and it overlaps with consumer markets in many ways, the process of Industrial market segmentation is quite different. The process of segmentation is distinct from targeting (choosing which segments to address) and positioning (designing an appropriate marketing mix for each segment). The overall intent is to identify groups of similar customers and potential customers; to prioritise the groups to address; to understand their behaviour; and to respond with appropriate marketing strategies that satisfy the different preferences of each chosen segment. Revenues are thus improved. Improved segmentation can lead to significantly improved marketing effectiveness. With the right segmentation, the right lists can be purchased, advertising results can be improved and customer satisfaction can be increased. Â   Marketing Segmentation Core benefits : Core benefit is the major benefit or satisfaction that customers are looking from a good or service one buys. This benefit can be happen from person to person. The Cassowaries watch that we produced provides convenience as well usefulness. The watch aims to improve in style and increases the functions of normal analog watch. In 21st century, the watch exist not only to Just to know about the time, but it can be a part of accessory for people to wear it and be more stylish and fashionable.Moreover, with this multipurpose product, it will enhance your fashion sense and reflection. Actual Product : Actual product is the physical parts of the product like benefits and features that affects to customers who purchase our product. In this level, there are four strategies which involve branding, adding features, organizations and benefits. Also that combines to deliver a product with specified benefits to our customers. The Cassowaries watch already has gone through for the t esting before it actually launch.The functions and designs are further modified to give more satisfaction and fulfill the expectations for customers. The actual benefit that added to our product is a WI-if function. This WI-FL function will allow our customers to use WI-FL through their smart phones. Basically, the watch has same facility as router. It requires customers to log in to our Cassowaries watches website to register, to make a simple contract between customers and our company which allows them to able to use Wi-FL by paying a usage fee per month.Also, we came out with this system that those who register with premium members, they will be able to have luxury to get a free usage of a WI-FL for a week. Definitely the premium registration is more costly, but we are sure that the customers will satisfy with this contract and they will not regret to use our product. Last but not least, we make our watch to be more useful and multi-function. Our watch can be turned into a neckla ce. The chain of the watch can be removed from the face of the watch and the new chain for the necklace which given upon purchase, an be re- clipped in the watch.So it can be a necklace as well. The chain is made of jewels for watch, light material and few Jewels for necklace chain as to prevent the tiring in neck due to a heavy weight of chain. It will make the customers more fashionable as well as stylish. Augmented Product : Augmented product is a commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value such as after sales service.After purchase, we measure the wrist size and adjust the length f chain in the spot for our customers as well as neck size. And so, they are able to wear it right after they purchase. We have total 3 years warranty and guidance booklet will be given for customers who are not clear of using it. There is a website for them to check about our products and Q and A sessions with cu stomer service. Conclusion : Promoting a new product will never be an easy work as the competition is tough and most of customers have high expectations in modern society.It will not be that successful to Just have colorful appearance. What we need is to target correct group of people in right time at the correct place and to focus more on satisfying their needs and wants. However, we will not be able to get a competitive advantage by Just satisfying them over our competitors. Looking forward and predict the needs and wants is the epitome method to gain competitive advantage from our competitors. Http://www. Neurotransmitter. Com/lesson-store/lesson-three-levels-of-a-product. HTML