Preview

Market Segmentation - Power Bike in Thailand

Powerful Essays
Open Document
Open Document
2024 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Market Segmentation - Power Bike in Thailand
BU 1008

Marketing Fundamental

-Individual Assignment-

(Powerbike in Thailand)

Evelyn

Powerbike in Thailand

Powerbike is a local family enterprise in Thailand. Powerbike opened one-stop retailer bicycle in 2006 at Roi Et, Thailand. Roi Et is a city in north east part of Thailand. Powerbike sell a lot of kind of bike, and also the bike with a specialization function. Powerbike also provide for service and repairing for the bike. Furthermore powerbike is a one-stop retailer within quality and reasonable price.

In the Marketing Segmenting there are four kind of segmentation, they are Behavioral Segmentation, Demographic Segmentation, Psychographic Segmentation, and Geographic Segmentation.

Behavioral Segmentation is the most powerful type of segmentation because it uses actual consumer behaviour or product usage to make distinctions among market segment (Farrell & Hartline, 2005). Demographic Segmentation consists of dividing the market into group based on variable such as age, gender, family size, family life cycle, income, occupation, education, religion, race and nationality (Kotler, Brown, Adam & Armstrong, 2004). Psychographic Segmentation is based on consumer characteristic. Psychographic Segmentation is based on differences in psychological traits (personality attributes and motives), key demographics, and lifestyles (the expression of the two former categories) (Elliot, Rundle-Thiele, & Waller, 2010). Geographic Segmentation are the areas in which buyers reside, such as coastal, inland, urban, rural, tropical and temperature (McColl-Kennedy & Kiel, 2000).

Actually, the main function of the marketing segmentation is to explore more, to set the target market. This segmentation will helpful for the marketer to set their target market, base on the behavioral segmentation, demographic segmentation, psychographic segmentation or base on area, use the geographic segmentation.



References: Bangkok traffic expected to worsen. (2012, january 02). Retrieved from http://www.bangkokpost.com/news/local/273433/bangkok-traffic-expected-to-worsen Elliot, G., Rundle-Thiele, S., & Waller, D. (2010). Marketing. Autralia: John Wiley & Sons. Ferrel, O. C., & Hartline, M. D. (2008). Marketing Strategy (3th ed.). United States of America: Thomson South-Western. Kotler, P., Brown, L., Adam, S., & Armstrong, G. (2004). Marketing. Frenchs Forest NSW: Pearson Education Australia. McColl-Kennedy, J. R., & Kiel, G. C. (2000). Marketing a strategy approach. South Melbourne: Nelson Thomson Learning. Positioning strategy. (2010, august 30). Retrieved from http://www.marketing91.com/positioning-strategies/

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Bud Light Target Market

    • 599 Words
    • 3 Pages

    Perreault, Jr., W. D., & Cannon, J. P., & McCarthy, E. J. (2010). Essentials of marketing: a marketing strategy planning approach (12th ed.). New York, NY: The McGraw-Hill Companies, Inc.…

    • 599 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Ferrell, O. C. & Hartline, M. D. (2008). Marketing Strategy (4th ed.). USA: Cengage Learning.…

    • 1013 Words
    • 4 Pages
    Powerful Essays
  • Better Essays

    Cited: Ferrell, O. C., and Michael D. Hartline. Marketing Strategy. Fifth ed. Mason, OH: Thomson…

    • 3299 Words
    • 14 Pages
    Better Essays
  • Good Essays

    Market Segmentation

    • 660 Words
    • 3 Pages

    A definition of market segmentation is groups of potential buyers that have two things in common, similar needs and a reaction to the marketing strategy. (Kerin, 188) There are four different segments to the market. They are geographic area, demographic focus, psychographic referring to lifestyle and behavioral which refers to where the person makes purchases, what they are looking for, how often they shop, and their reason for purchasing. (Kerin, 193)…

    • 660 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Marketing MIx

    • 2317 Words
    • 10 Pages

    Kerin, R. A., Hartley, S. W., & Rudelius, W. (2011). Marketing (10th ed.). New York, NY: McGraw-Hill Irwin.…

    • 2317 Words
    • 10 Pages
    Powerful Essays
  • Satisfactory Essays

    2. Market Segmentation involves dividing a large market into subgroups of customers with similar needs and requests for goods and services. These subgroups are identified by many demographic situations, depending on what it is that the marketer is segmenting them for. Marketing campaigns can then be developed around the needs and wants of the subgroups. The main and basic reason for market segmentation is to help a company understand what the needs are of its customer base. Often by segregating consumers by specific criteria a company can identify other functions for their products that may or may not have been recognizable before. Identifying these other ideas for use of goods and services may help the company target a larger segmentation in that same demographic classification and thus increase market share among a specific sub market…

    • 300 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Armstrong, G. & Kotler, P. (2005), Marketing: An Introduction, 7th edn, Pearson Education, Inc., Upper Saddle River, New Jersey.…

    • 1889 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Market Segmentation -Hmv

    • 1861 Words
    • 8 Pages

    There are four criteria that have to be satisfied in order for market segmentation to be effective. A market segment should be identifiable, substantial, accessible and stable. Identifiable, at which there should be observable indicators that enable the segment to be defined and quantified. Substantial, meaning that the segment should be of enough size to make the effort involved in segmentation worthwhile. Accessible, that is, it should be probable to target specifically the segment using existing communication and distribution channels. Stable, so that after classification of the segment there should be sufficient time to capitalize on the investment implicated in segmentation. (Baker, 1995)…

    • 1861 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Market segmentation is one of the central pillars of modern marketing and is found at the very core of the marketing process. Some writers suggest that segmentation is the most important activity within modern marketing. This claim is debatable but what is true is that the general principles and processes of market segmentation are absolutely vital to effective marketing strategies for the vast majority of firms operating in today’s highly competitive economy.…

    • 4588 Words
    • 19 Pages
    Powerful Essays
  • Good Essays

    Market Segments

    • 545 Words
    • 3 Pages

    1) Middle/Upper income folks who are willing to pay a bit more for a better user experience. paying 500 more for a computer is not a huge deal if you have a decent income.…

    • 545 Words
    • 3 Pages
    Good Essays
  • Best Essays

    Case Study on Asos

    • 3973 Words
    • 16 Pages

    33. Ranchhod, A., Gurau, C., 2007. Marketing Strategies: A Contemporary Approach, 2nd ed. Financial Times/ Prentice Hall.…

    • 3973 Words
    • 16 Pages
    Best Essays
  • Best Essays

    Doyle, P. & Stern, P. (2006) Marketing Management & Strategy. 4th edition. FT Prentice Hall…

    • 1815 Words
    • 8 Pages
    Best Essays
  • Powerful Essays

    Segmentation start with a list of all the potential customers which then need to be further analysed and broken up in smaller segments (via Geographic, Demographic and other segmentations).…

    • 3595 Words
    • 15 Pages
    Powerful Essays
  • Powerful Essays

    Marketing Strategies

    • 1763 Words
    • 8 Pages

    • The ultimate aim of market segmentation is to increase sales, market share and profits by better understanding and responding to the desires of the different target customers.…

    • 1763 Words
    • 8 Pages
    Powerful Essays
  • Best Essays

    Busines

    • 4240 Words
    • 17 Pages

    Doyle P & Stern P (2006) , Marketing Management and Strategy , 4th edition , Prentice Hall.[Accessed 14 December 2012]…

    • 4240 Words
    • 17 Pages
    Best Essays