marketing plan
Target Market and Segmentation
The core of market segmentation is satisfying the customer’s needs and wants. However, that is hard to achieve because all buyers have different perspectives and needs as well as customer’s needs and preferences easily change in terms of various industries which offer similar goods and services. Imperial Leather Soap aims at effective segmentation in order to make profits by analysing four types of segmentation which need to be identified (Alan & Tracy, 2002). These types include Geographic, Demographic, Psychographic and Behavioural segmentation.
Geographic
Inner city
Outer suburbs
Demographic
Female 20-45 year old
Student, office worker and housewives
Middle class
Average income
Educated
Urban, Brisbane
Health conscious
Gym
Family
Psychographic
Social class (Middle class)
Lifestyle (self-expression)
Follow trends
Behaviour
Brand-loyalty
Heavy volume users
Table 3: Target Segmentation.
Positioning
Original soap and gentle care soap will be repositioned based on different market demand. According to the ‘product’ section, since the price for original soap remains the same while advanced characters such as more favours will be added, this will need to a repositioning of original soap.
Imperial Leather Soap will be positioned as a high quality, luxury product. It has one hundred years of industry experience. This has presented that the company a relatively sound reputation and customer base compared with other competitors. Therefore, it has the financial ability to invest in product development, innovation and technology to create a range of premium product lines.
Imperial Leather Soap offers incentives such as discounts to retailers to promote and encourage customers to purchase more soap. Also, as a competitive strategy display that retailers will place Imperial Leather Soap into a noticeable space that will catch customer’s attention easily as well as stand out vividly against other
The core of market segmentation is satisfying the customer’s needs and wants. However, that is hard to achieve because all buyers have different perspectives and needs as well as customer’s needs and preferences easily change in terms of various industries which offer similar goods and services. Imperial Leather Soap aims at effective segmentation in order to make profits by analysing four types of segmentation which need to be identified (Alan & Tracy, 2002). These types include Geographic, Demographic, Psychographic and Behavioural segmentation.
Geographic
Inner city
Outer suburbs
Demographic
Female 20-45 year old
Student, office worker and housewives
Middle class
Average income
Educated
Urban, Brisbane
Health conscious
Gym
Family
Psychographic
Social class (Middle class)
Lifestyle (self-expression)
Follow trends
Behaviour
Brand-loyalty
Heavy volume users
Table 3: Target Segmentation.
Positioning
Original soap and gentle care soap will be repositioned based on different market demand. According to the ‘product’ section, since the price for original soap remains the same while advanced characters such as more favours will be added, this will need to a repositioning of original soap.
Imperial Leather Soap will be positioned as a high quality, luxury product. It has one hundred years of industry experience. This has presented that the company a relatively sound reputation and customer base compared with other competitors. Therefore, it has the financial ability to invest in product development, innovation and technology to create a range of premium product lines.
Imperial Leather Soap offers incentives such as discounts to retailers to promote and encourage customers to purchase more soap. Also, as a competitive strategy display that retailers will place Imperial Leather Soap into a noticeable space that will catch customer’s attention easily as well as stand out vividly against other