Market Segmentation Paper
Consumer Behavior
Segmentation paper
When attempting to segment the market for aftermarket truck accessories in the trucking industry we used a combination of lifestyle based segmentation and psychographic based segmentation techniques that we learned in class. Our segments were based on the results of our needs assessment paper which linked the attributes we identified to the benefits and the values. We came up with a rough estimation of the size of each segment by using the information we collected in our sample to infer what the actual size of the population maybe. We are aware that are sample is most likely biased and not a fair distribution of the segments.
Strictly Business Segment: Estimated size is 20%
These are truck owners who use their trucks as advertisement for their businesses. Their trucks stand out with unique features that speak volumes about the way they do business. According to Tom Lows, one of the interviewees, when he sees guy driving down the road in a nice work truck, fully loaded with the aftermarket accessories, it makes him think that person is experienced, good at what they do, and can afford nice things. Not only does it represent success and look professional, but it also gives the impression that they care about their equipment. Toms says if they care about their equipment they will care about their freight or their business. And if they care about their business they will care about their customers.
After analyzing the market to determine consumer needs we identified several key relationships pertinent to this segment. One attribute of Protech products was the high price or expense associated with Protech’s high priced truck accessories. This attribute communicates quality and is connected to the psychosocial benefit of standing out in the minds of consumers. Numerous interviewees said they would purchase high-end accessories because of how they look on trucks when they are driving down the road. For
Segmentation paper
When attempting to segment the market for aftermarket truck accessories in the trucking industry we used a combination of lifestyle based segmentation and psychographic based segmentation techniques that we learned in class. Our segments were based on the results of our needs assessment paper which linked the attributes we identified to the benefits and the values. We came up with a rough estimation of the size of each segment by using the information we collected in our sample to infer what the actual size of the population maybe. We are aware that are sample is most likely biased and not a fair distribution of the segments.
Strictly Business Segment: Estimated size is 20%
These are truck owners who use their trucks as advertisement for their businesses. Their trucks stand out with unique features that speak volumes about the way they do business. According to Tom Lows, one of the interviewees, when he sees guy driving down the road in a nice work truck, fully loaded with the aftermarket accessories, it makes him think that person is experienced, good at what they do, and can afford nice things. Not only does it represent success and look professional, but it also gives the impression that they care about their equipment. Toms says if they care about their equipment they will care about their freight or their business. And if they care about their business they will care about their customers.
After analyzing the market to determine consumer needs we identified several key relationships pertinent to this segment. One attribute of Protech products was the high price or expense associated with Protech’s high priced truck accessories. This attribute communicates quality and is connected to the psychosocial benefit of standing out in the minds of consumers. Numerous interviewees said they would purchase high-end accessories because of how they look on trucks when they are driving down the road. For