Segmentation, Targeting and Positioning: Interpreting The Prominent Terms of Marketing

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Segmentation, Targeting and Positioning
Consumer response to a product or service is the ultimate dealmaker or deal breaker. How the consumers respond to the marketing strategy will determine if the strategy and the product will succeed (Solomon, 2004, chap.1). Market Segmentation: iPod

Market segmentation is the process that identifies groups of consumers who share similar interests in one or more ways and then devises marketing strategies that appeal to one or more groups. For example, during football season, many beer commercials target that particular segment of the population based on research done finding a correlation between football fans and beer drinking. "Super Bowl weekend is in fact one of the biggest beer selling holidays of the year for supermarkets." Astonishingly, however, ACNielsen numbers rank Super Sunday as only the seventh most beer-soaked holiday, following the Fourth of July, Memorial Day, Labor Day, Christmas, Thanksgiving, and Easter. Together those seven occasions account for 43 percent of annual beer sales in the U.S. (Cioletti, 2000). The iPod is a brand of portable media players designed and marketed by Apple Inc.and launched in 2001. As of 2008 the product offerings include the hard drive based iPod Classic. The touch screen iPod Touch and the video capable iPod Nano as well as the screen less iPod shuffle. Apples iTunes is the software that the aforementioned devices utilize to receive music (Wikipedia, 2008). Apple iPod chose to segment their target market differently than most companies. Instead of relying heavily on demographics, Apple Inc, choose to focuses on the psychographic aspect and segment their market using lifestyle and personality information. So, who is part the existing target for the iPod? Travelers, businessmen, school teachers, doctors, moms, dads, kids, teenagers, tweenies, vacationers, doctors, sanitation workers, rockers, hip- hoppers, generation X-ers, baby boomers, Hispanics, African Americans,...
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