Segmentation of Mercedes

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  • Topic: Mercedes-Benz, Mercedes-AMG, Mercedes-Benz A-Class
  • Pages : 9 (2988 words )
  • Download(s) : 1045
  • Published : November 21, 2012
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Table of Contents
1.0 Situation Analysis/Current Marketing Mix…………………………...………………….3 1.1 Current Product........................................................................................................3 1.2 Current Pricing…………………………………………...………………………….4 1.3 Current Distribution…………………………………………………………………4 1.4 Current Promotion…………………………………………………………………..5 2.0 Segmentation Theory…………………………………………………...………………….6 2.1 Defining and Explaining Segmentation……...……………………..…………..........6 2.2 Explaining Three Benefits of Mercedes-Benz Brand from using Segmentation ……7 3.0 Target Market Identification……………………………………………………………...7 3.1 Geographic Segmentation…………………………………………………………...7 3.2 Demographic Segmentation………………………………………...……………….8 3.3 Psychographic Segmentation………………………………..………………………8 3.4 Behavioral Segmentation……………………………………...………………….....9 4.0 Bibliography…………….….…………………...……..………………………………..20 Surname 3

1.0 Situation Analysis/Current Marketing Mix
1.1 Current Product
Being a highly reputable brand globally, Mercedes-Benz has successfully penetrated in Singapore market. Presently, Mercedes-Benz C class has swiftly penetrated in the Singaporean luxury car market due to the prestige associated with the brand. Being a consumer product, Mercedes Class C has been characterized by high performance that accurately meets personal needs for active individuals through the superior brand name. Over the years, Mercedes Benz brand name has won global recognition, contributing to its popularity in Singaporean market. The various sub-models of Mercedes Benz Class C including C230, C240, C320 and C350 among others offer consumers with various luxurious services, besides mere travelling. It is important to note that, the ability of a core product to offer credible and other beneficial characteristics besides the core product utility enhances its propensity to acquire popularity among consumers1. In this regard, Mercedes Class C has been considered as of high quality level, having sophisticated features to enhance driving experiences, stylish in nature and having strong brand name.

In Singapore luxury car market, it has been reported that 70% of customers enquiring about car are much interested in Mercedes Benz Class C. This is an indication that, much of their time is spent looking on the stylish nature of the product2. It has been observed that, most of these consumers looking for Mercedes Benz Class C don’t easily opt for other brands until they get it some other times when it is available. This is evidenced by the selling slogan of the product “Drive and Seek,” which aims at assuring the consumers ultimate performance of the product. More so, the prestigious nature of Mercedes Class C can be considered as a unique feature that has contributed to its popularity in Singapore. It has been observed that, Mercedes Benz Class C is multi-purpose, since it is still used in sports as well as for private outdoor traveling. It is vital to note that, the ability of a product to offer consumers with additional benefits besides the basic uses contributes to its popularity among consumers. By having more additional benefits than its 1 Richard, Semenik and Gary, Bamossy, Principles of Marketing: A Global Perspective (New York: Prentice Hall, 2005), 68.

2 Beng, Chua. Life is not Complete without Shopping: Consumption Culture in Singapore, (Singapore: Singapore University Press, 2003), 72.
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core competitors like BMW, Mercedes Benz Class C has penetrated well in Singaporean markets.
1.2 Current Pricing
The luxury car market in Singapore is an oligopoly competitive market, since there are few luxury car brands in the market. Being a superior brand in the market, Mercedes-Benz C-Class has efficiently penetrated in the Singapore market. This has been observed in the way this brand highly demanded, despite its high prices. Particularly, Mercedes Benz Class C pricing strategy is valuebased, considering the way consumers of this product have not...
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