Market Segmentation - Power Bike in Thailand

Only available on StudyMode
  • Topic: Marketing, Target market, Psychographic
  • Pages : 7 (2024 words )
  • Download(s) : 227
  • Published : May 14, 2013
Open Document
Text Preview
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.

Q1. Based on Powerbike , Roi Et —provide a detailed description of 2 market segment profiles from their current consumer market. (use specific demographics; psychographics & behavioral variables). Why are these two segments different?

Demographic segmentation is segmentation base on variable of people, such as age, family member, life cycle, income, occupation, education, religion, race and also nationality. Base on the demographic segmentation, this segmentation can make the specific of the target market. For example in the average of age, kid in a family will use kid bike, when the kid growing up, become a teenager, the teenager will change the bike to the suitable size. When the teenager becomes an adult, the adult will change the bike again, and will use an adult bike. Furthermore in income, someone who had low income, mediocre income and high income will have different thinking. Levels of income will make people think in the different ways and affect the way they make decisions also. People with high income will purchase a bike within good quality and also choose the bike within specialization faction. However people with in low income will purchase a bike base on what they needs.

Psychographics segmentation is a segmentation base on consumer characteristic. Psychographics segmentation makes us understand the way consumer act and think (McColl-Kennedy & Kiel, 2000). In this psychographics segmentation, teenager from high class family for example, the teenager will spend more money to purchase something. When they buy a bike, they will choose bike with specific function such as, bicycle motocross (BMX) this bike can do dirt jumps, mountain bike, or a bike with high speed.

Behavioral segmentation is one of the most powerful more then the other of segmentation. Behavioral segmentation is base on people attitudes and behavior. For example there is a famous brand of a bike, with a good quality and also reasonable price, a slightly...
tracking img