Week 14 Segmenting and Targeting Markets

The Market in which we revolve around consist of individuals that have a set of specialized needs and wants to which we cater to. All of our consumers fall into a specific market segment making it easy to provide products that each of our subgroups will desire. Our market segmentation skills allows us to meet the needs of large groups of people by dividing those who would want to spend over $200 dollars on Function 7 lower control arms versus those who would want to spend under $200 dollars on Skunk2, Blox, K Sport or Blackworks. We treat all of our customer equally but segment consumers based on there segmentation variables such as characteristics of an individual or group for example age and spending limit. Its our method of demographic segmentation with every age, gender, and ethic background comes an income and a family life cycle. Family life cycle meaning where you stand in life as far as age, marital status, and whether or not children are present because believe or not these are variable that affect personal spending habits. We don't encourage psychographic segmentation for reasons such as variety in personality, motives, and lifestyle, It would be ludacris to insinuate mind reading capabilities. A lot of our new customer can be broken into two groups being either part of the optimizers or satisficers.  Optimizers are consumer who research numerous suppliers and study all proposals carefully before approaching a specific distributor. Satisficers are those who just appear and purchase merchandise to satisfy product and delivery deadlines. All of our consumers are part of  a vast target market  to which we meet specific needs and wants. We abide by the Undifferentiated targeting strategy because it allows us to visualize the market as one big market with no individual segments and thus uses a single diverse marketing mix that everyone will love. One on One marketing allows us to build long term personal and profitable relationships with each customer. Every week we use a tactic called positioning where we influence a customers overall perception of a brand and/or product by focusing on the specific brand and/or product.