Consumer Segmentation

1. Introduction “I don’t know the key to success, but the key to failure is trying to please everybody.” (Bill Cosby) The reason is because there are no two people that have exactly same likes and dislikes. Everybody in this world is different. Hence trying to make everyone happy at the same time merely blow the pleaser’s mind off. Taking that quote into consideration, it is not only true to an individual but also to every industry. A business cannot aim to sell their products to the whole market, because every customer has different wants and needs. Only a group of similar consumers that suites the products’ property best should be considered, so the business can use the right marketing strategy. In other words, business should segment their market in order to have clear image about their customers. Thus the business would make high profit by selling right product to right customers.

2. History of Cartier Started in 1847 when Louis-François Cartier took over master-craftsman Adolphe Picard jewelry workshop. Owing to Cartier’s great quality of manufacturing, they were trusted and selected to be many royal family official purveyors, including: King Edward VII of England, King Alfonso XIII of Spain, King Carlos I of Portugal, Tsar Nicholas II of Russia, King Paramindr Maha Chulalongkorn of Siam, King Peter I of Serbia, Duke Philippe of Orleans, King Albert I of Belgium, Duke of Windsor (Prince of Wales, future King Edward VIII at that time), King Fouad I of Egypt and King Zog I of Albania (cartier.co.uk, 2012) The company had always been under control of Cartier family members until 1972. It was taken over by group of investors led by Joseph Kanoui. (cartier.co.uk, 2012) Cartier has been producing many beautiful collections. In present, there are nineteen collections available for customer to choose. Figure 2.1 (cartier.us 2012) Figure 2.1 is illustrating three of Cartier’s famous