Market Segmentation Paper

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  • Topic: Truck, Truck driver, Trucking industry in the United States
  • Pages : 8 (2294 words )
  • Download(s) : 633
  • Published : October 28, 2008
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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 business owners this is an extremely important attribute because their trucks represent their businesses. We found a strong connection between having expensive accessories and success, which is critical, because owners want to be seen as successful.

Another key attribute was Protech’s ability to consistently produce high-end products. High-end products were also strongly connected to standing out and success. This particular attribute was magnified by offering consumers the ability to customize all of their trucks using Protech products, thus allowing them to transform their average truck into a unique and high-end truck. One interviewee briefly pointed out the welds of Protech products, describing them as superior to other weld seen in the market. Superior welds are linked to superior products, which implies superior work trucks and ultimately suggests this person has a superior business.

Because Protech has established excellent brand recognition within the trucking industry, having upscale accessories on your truck shows others that you have been successful and have the means to purchase elite products. Customization with expensive, high-end, quality products allows these consumers to stand out from others. Knowledgeable drivers recognize these attributes and connect them to you and your business. These solid connections lead their potential customers to believe that your business is successful. When Protech customers stand out by having individualized trucks among other truckers, it gives them a sense of belonging and a reputation, which is an extremely powerful value.

Quality was an attribute that came up repeatedly in all of the interviews. Quality stood out as a higher value attribute which was linked to higher-level benefits like being a status symbol, exceptionally attractive, and even necessary. After analyzing our interviews it became blatantly obvious that quality goes further than the materials and product design. We found it to be...
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