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Market Segmentation Essay

328 words - 2 pages

Geographic Segmentation

Given the fact that people living in urban areas demand more of high-tech product as compared to people in suburban area, geographically our product is more desirable in urban area than suburban area. In addition, the income level and population are both higher in urban area.

Demographic Segmentation

We could use multivariate demographic segmentation, which is to combine the age and education variables to segment their market for our product. Our target market ...view middle of the document...

They earn higher income yet with lesser work time. Therefore they have more time for leisure and exercise at a higher price. As a result, this segment of market would be more profitable overall.

Psychographic Segmentation

People’s attitude towards buying our product is affect by their lifestyle. People who enjoy using our product are creative and fashion-follower. They like to try new things and described themselves as technologically sophisticated. On top of that, these people are high-end and tech-savvy, who is often a business user. They have grown up with computers, email, and instant communication. The sheer size of this group, coupled with the reported spending habits of young people, makes this segment a desirable target of our company.

Behavioural Segmentation

The benefit that customers seek from our product is convenient, with unique features for good quality. This is their belief that our product is as such, and they will proceed to try our product. When customers satisfied by our product and have positive opinion of it, they will repeat their purchase on it and become loyalty.

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