Segmentation and Target Market Paper
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- Date Submitted: 08/10/2015 07:25 PM
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Segmentation and Target Market Paper
Introduction
Samsung as a company uses mainly lifestyle and demographic variables in segmenting their market. The company should, however, lay more emphasis on the changing lifestyles of the young generation and cater for their ever-changing needs. In order to regain market share, the company can segment the market into rural and urban people. The agricultural targets will help increase the market share. The city should comprise mainly the people aged 15-30. This ought to be their main segment in order to compete favorably with brands in the same market segment. This target group of people focuses mainly on music, leisure and has the flair for hip gadgets on the market. Samsung is targeting the customer market by dividing it into different segments and offering each segment different product based on their common characteristics.
Characteristics
The shopper market for Samsung items has been separated utilizing four plans of division variables i.e. geographic, demographic, psychographic and behavioral.
Psychographic Segmentation
• Lifestyle- Samsung is also classifying customers into different levels based on different lifestyle of the people i.e. culture oriented, sports oriented, outdoor oriented
• Personality- Customers are differentiated on the varying level of personality such as compulsive ambitious.
Demographic Segmentation
• Age-age factor is not involved in Samsung segmentation, but its most users are adults’ enthusiastic people
• Family size-Samsung Products are offered for all family sizes
• Gender- The home theater system for all genders are beneficial.
• Income-Samsung Products are offered with varying features to different peoples based on their income level i.e. low (up to $ 1500) lower middle ($.1500-3000) middle ($3000-5000) upper middle ($ 5000-7000) and high (above$ 7000). (Samsung, 2014)
Geographic Segmentation
• Region-Samsung has divided the Asian market into different geographical regions...
Introduction
Samsung as a company uses mainly lifestyle and demographic variables in segmenting their market. The company should, however, lay more emphasis on the changing lifestyles of the young generation and cater for their ever-changing needs. In order to regain market share, the company can segment the market into rural and urban people. The agricultural targets will help increase the market share. The city should comprise mainly the people aged 15-30. This ought to be their main segment in order to compete favorably with brands in the same market segment. This target group of people focuses mainly on music, leisure and has the flair for hip gadgets on the market. Samsung is targeting the customer market by dividing it into different segments and offering each segment different product based on their common characteristics.
Characteristics
The shopper market for Samsung items has been separated utilizing four plans of division variables i.e. geographic, demographic, psychographic and behavioral.
Psychographic Segmentation
• Lifestyle- Samsung is also classifying customers into different levels based on different lifestyle of the people i.e. culture oriented, sports oriented, outdoor oriented
• Personality- Customers are differentiated on the varying level of personality such as compulsive ambitious.
Demographic Segmentation
• Age-age factor is not involved in Samsung segmentation, but its most users are adults’ enthusiastic people
• Family size-Samsung Products are offered for all family sizes
• Gender- The home theater system for all genders are beneficial.
• Income-Samsung Products are offered with varying features to different peoples based on their income level i.e. low (up to $ 1500) lower middle ($.1500-3000) middle ($3000-5000) upper middle ($ 5000-7000) and high (above$ 7000). (Samsung, 2014)
Geographic Segmentation
• Region-Samsung has divided the Asian market into different geographical regions...