SEGMENTATION AND POSITIONING CONCEPTS

Reflect on the automobile industry in your country of residence.

A.Decide on a segmentation approach for the automobile industry in your country of residence, identifying at least four different target market segments of that approach. Justify (from a marketing perspective) why your segmentation approach is an appropriate one, using the criteria in Figure 6.2

. Similar Enough Within the Group . Different Enough Between the Groups Large Enough . Measurable Market . Reachable Figure 6.2 Criteria for Effective Segmentation ApproachesFigure 6.7 Framework for Creating Rich Segment Profiles. Who are they? What are their demographic characteristics? What are their psychographic characteristics? What are their geodemographic characteristics? How price sensitive are they ? What do they want and why? segment? what are the benefits, features, attributes, or characteristics sought by consumers in this What do they need and want? What motivates the purchase and consumption decision? When do they buy and use it? What triggers the purchase decision? What is the context in which they buy the product? How often do they buy the product? What time of day, part of the week, or month, or year is it purchased? What time of day, part of the week, or month, or year is it used or consumed? Where do they buy and use it? What stores or other distribution channels do they use? Where are they when they use the product? How do they buy and use it? How do they decide what to buy? (decision-making process used) What or who influences the purchase decision? What media do they use/access in making the decision? Is it a thinking (cognitive) or feeling (emotional) decision? Is it a high-involvement (important or risky) decision or a low involvement (not important or risky) decision? How do they use or consume the product? . How much of it do they use? Segment Size What is the market potential? . What is the expected growth rate of the segment