* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Assignment 2: Topic 3 – Market segmentation, targeting and
Pricing strategies wikipedia , lookup
Food marketing wikipedia , lookup
Marketing communications wikipedia , lookup
Digital marketing wikipedia , lookup
Service parts pricing wikipedia , lookup
Dumping (pricing policy) wikipedia , lookup
Viral marketing wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Marketing research wikipedia , lookup
Targeted advertising wikipedia , lookup
Perfect competition wikipedia , lookup
Darknet market wikipedia , lookup
Direct marketing wikipedia , lookup
Grey market wikipedia , lookup
First-mover advantage wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Youth marketing wikipedia , lookup
Marketing plan wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Street marketing wikipedia , lookup
Market penetration wikipedia , lookup
Marketing channel wikipedia , lookup
Multicultural marketing wikipedia , lookup
Green marketing wikipedia , lookup
Sensory branding wikipedia , lookup
Neuromarketing wikipedia , lookup
Product planning wikipedia , lookup
Global marketing wikipedia , lookup
Market analysis wikipedia , lookup
Advertising campaign wikipedia , lookup
Target audience wikipedia , lookup
Marketing strategy wikipedia , lookup
Target market wikipedia , lookup
Rebecca Watson Rock, student number – X00119723 21/10/2014 Introduction to Advertising Assignment 2: Topic 3 – Market segmentation, targeting and positioning A market segment is a group of people that share one or more characteristics. Each market segment is unique and marketing managers decide on various criteria to create their target market(s). They may approach each segment differently after fully understanding the needs, lifestyles, demographics and personality of the target. (Business dictionary) The four primary segmentation bases for consumer markets are; 1. 2. 3. 4. Geographic Demographic Behavioural Psychographic Section A TV advert - http://youtu.be/_nXEDZ4Ru2I The TV advert that I have chosen to discuss is the ‘Guinness- In Pursuit of More’ ad (click into the above Hyperlink to watch this advert). In my opinion I think this advert was targeting the Geographic segment and the Demographic segment. Geographic segmentation involves a business dividing its market based on the location of the consumer. ‘You can divide your market by geographical areas, such as by city, county, state, region, country, or international region’ (Education portal). It’s clear that Guinness have targeted geographic segmentation. In this Guinness advert it’s all about being a part of something, for example being Irish. The advert is set in Dublin City and it celebrates starting from a local Dublin ale brewery to shipping porters and stouts as far as Kuala Lumpur. In the ad it says “Guinness has always been about beer and people” (Guinness, 2014). Demographic segmentation involves dividing “the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality” (Riley, Market Segmentation - Demographics, 2012). Guinness used gender segmentation in this ad by mainly targeting the male population. They have fifteen male actors within this advert and only one women, this showed a clear divide in the gender target audience. The advert focused on how the beer was made, showing farming and technology, which could be considered as manly activities. The advert also focused on Family as it made a big deal about Guinness going through Irish generations, “Were proud to Rebecca Watson Rock, student number – X00119723 21/10/2014 say that many of us have entered these gates in the footsteps of our parents and our grandparents” (Guinness, 2014). Print advert- ‘Behavioral segmentation divides a population based on their behavior, the way the population respond to, use or know of a product’ (Marketing91). This type of segmentation is perfect for products which are niche in nature and are aimed towards the wants and demands of customers (Marketing91). Behavioral segments can group consumers in terms of; Occasions, Usage, Loyalty and Benefits Sought (Riley, Market Segmentation- Behavioural segmentation, 2012). In the above ‘No 7’ advert, which was in ‘Fabulous’ magazine, the targeted segment is ‘benefits sought’. This approach segments consumers on the basis of specific benefits they are seeking from the product, such as convenience, or value (Segmentation Study Guide). This No7 advert says “Clinically proven to be even more effective at reducing the appearance of lines and wrinkles”. This is a clear statement explaining the benefits of the product. Rebecca Watson Rock, student number – X00119723 21/10/2014 Outdoor advert- The outdoor ad that I have chosen to discuss is the billboard ad that Abercrombie & Fitch have put up in front of the old Habitat Building on College Green in Dublin City. In my opinion this ad is targeting the Demographic segmentation and Psychographic segmentation. Demographic segmentation involves dividing “the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality” (Riley, Market Segmentation - Demographics, 2012). Abercrombie & Fitch targeted this segment by mainly appealing to females by having a four storey billboard of a shirt-less man on display. Psychographic segmentation divides consumers based on lifestyle, attitudes, beliefs, values, personality, buying motives, or extent of product usage (all Business).’It considers a number of potential influences on buying behavior, including the attitudes expectations and activities of consumers’ (Riley, Psychographic Segmentation, 2012). Personally I believe that Abercrombie & Fitch targeted this market segment with this outdoor advert. The attractive male model in the advert appeals to the consumer by attracting them towards him. Abercrombie & Fitch showed the perfect image of a male and this attracts people who want to look like that or live that kind of lifestyle, it’s almost as if it could be achieved by purchasing their clothing. Rebecca Watson Rock, student number – X00119723 21/10/2014 Part B The ad that I am going to discuss within this section is the Guinness TV advert. From studying target marketing strategies I have learned that there are three general strategies; Undifferentiated, Differentiated and Concentrated. In this advert Guinness used concentrated marketing as their target marketing strategy. Concentrated marketing occurs when a business concentrates its marketing effort on one segment of the market. The firm will develop a product that caters for the needs of that particular group. Concentrated marketing can have lower costs than the other two options. It can be a good option for small or new businesses. The disadvantage is that it reduces the number of customers that the firm is targeting. It also means that the firm needs to be sure that they have selected the correct segment of the market. (Learn Marketing) The TV advert ‘Guinness- In Pursuit of More’ is directly aimed at the male gender (Irish men in particular). The ad is all about how Guinness had been around for generations and how many Irish men have walked through St. James’s Gates into the Guinness factory. The advert constantly says “we” throughout the whole ad which refers to Irish men. We can also see men working in the factory producing the beer and Irish farmers collecting the barley. It’s clear that Guinness isn’t as concentrated on women as they are men. Part C Positioning can be defined by ‘how you differentiate your product or service from that of your competitors and then determine which market niche to fill’ (entrepreneur). In the latest Guinness advert that I discussed in part b we can see that Guinness have used a strategy of emotive storytelling to position their product. This ad brings the viewers inside St James’s Gate, giving us a raw view of the world behind the craft. Guinness use famous Irish actor Killian Murphy to tell the story of the heritage of the brand “We’ve travelled to nearly every corner of the earth, commissioned our own fleet of ships and even built our own railway. Because we believed in the beer we brewed and we wanted everyone to taste it” (Guinness, 2014). The advert discusses the craft of Guinness, our Irish ancestry, the relationship that Guinness has built between beer and people and with Irish farmers. Personally I found this positioning strategy to be extremely effective as it’s very easy for an Irish person to relate to (considering it’s all about the Irish culture). I also think that the way in which Guinness constantly reminded us that it has been around for 250 years was a very good positioning strategy because it showed how different they are from newer brands. Rebecca Watson Rock, student number – X00119723 21/10/2014 Bibliography all Business. (n.d.). Buisness Glossary - psychographic segmentation. Retrieved October 20th, 2014, from All Business.com: http://www.allbusiness.com/glossaries/psychographicsegmentation/4963782-1.html Business dictionary. (n.d.). market segmentation. Retrieved October 19th, 2014, from businessdictionary.com: http://www.businessdictionary.com/definition/marketsegmentation.html Education portal. (n.d.). What is Geographic segmentaion in marketing? Definitions, Advantages & Examples. Retrieved October 19th, 2014, from education-portal.com: http://education-portal.com/academy/lesson/what-is-geographic-segmentation-inmarketing-definition-advantages-examples.html entrepreneur. (n.d.). Positioning Definition. Retrieved October 21st, 2014, from www.entrepreneur.com: http://www.entrepreneur.com/encyclopedia/positioning Guinness. (2014, September 15th). Guinness - In Pursuit of More. Retrieved October 19th, 2014, from youtube: http://youtu.be/_nXEDZ4Ru2I Learn Marketing. (n.d.). Market Targeting Options. Retrieved October 20th, 2014, from Learn Marketing.net: http://www.learnmarketing.net/targeting.htm Marketing91. (n.d.). Behavioural Segmentation. Retrieved October 21st , 2014, from Marketing91.com: http://www.marketing91.com/behavioral-segmentation/ Riley, J. (2012, September Sunday 23rd). Market Segmentation - Demographics. Retrieved October Sunday 19th, 2014, from Tutor2u: http://www.tutor2u.net/business/marketing/segmentation_bases_demographic.asp Riley, J. (2012, September 2012). Market Segmentation- Behavioural segmentation. Retrieved October 21st, 2014, from http://www.tutor2u.net/business/marketing/segmentation_bases_behavioural.asp Riley, J. (2012, September 23rd). Psychographic Segmentation. Retrieved October 20th, 2014, from tutor2u: http://tutor2u.net/business/marketing/segmentationpsychographic.html Segmentation Study Guide. (n.d.). Choice of Consumer Segmentation Bases. Retrieved October 21st, 2014, from Market Segmentation Study Guide.com: http://www.segmentationstudyguide.com/segmentation-bases/choice-of-segmentationbases/