Market Segmentation and Product Positioning 2
1.1. Introduction 2
1.2. Product the company will offer 2
1.2.1. Motorcycle industry an overview 2
1.2.2.Motorcycle industry in US an overview 3
1.3.Marketing Objectives of the Motorcycle Company: 4
1.4.Primary Characteristics of the Motorcycle 4
1.5.Branding Strategy 5
1.6.Product Positioning: 6
1.6.1.Short-run Strategy: 6
1.6.2.Longer-Run Strategies 6
1.7. Conclusion: Market Fit with Organizational Strategy. 6
Market Segmentation and Product Positioning
Market segmentation is the division of a market into different groups of customers with distinctly similar needs and product/service requirements. Or to put it another way, market segmentation is the division of a mass market into identifiable and distinct groups or segments, each of which have common characteristics and needs and display similar responses to marketing actions (Paul Baines, 2011).
The ultimate use of the segmentation is to ensure that the right mix takes place in a selected market based on price, distribution, products and promotion.
Kotler (1991) defines segmentation as “the act of dividing a market into distinct groups of buyers who might requiere separate products and/or marketing mixes” (p.263). Market segmentation is a vital element in market strategy development as it enables marketers to target their offerings to meet the diveristy of customer needs most efficiently.
1.2. Product the company will offer
This paper focuses on the use of market segmentation in the area of product positioning in US market for a New Product. For the assignment purpose the new product shall be “Motor Cycle”.
1.2.1. Motorcycle industry an overview
Before stepping into the US market let us know what’s happening in the global scenario for the Motorcycles. Global motorcycles, scooters and mopeds (Jose, 2010)
References: Bobbie. (2011, March 10). The U.S. Motorcycle Market:Motorcycle Industry Research and Statistics [Internet. Retrieved April 16, 2011, from the-u-s-motorcycle-market: http://knol.google.com/k/bobbie7/the-u-s-motorcycle-market/21yokwucnoqmb/6 Harley, B. (2011, January 26). 2011 Progressive New York IMS Review. Retrieved April 16, 2011, from Motorcycle-Article: http://www.motorcycle-usa.com/305/9057/Motorcycle-Article/2011-Progressive-New-York-IMS-Review.aspx Jose, S. (2010, October). Releases. Retrieved April 16, 2011, from prweb: http://www.prweb.com/releases/motorcycles_scooters/mopeds_two_wheelers/prweb4695274.htm Kotler, P. (1991). Analysis, Planning and Control. In P. Kotler, Marketing Management (7th ed., p. 263). NJ: Prentice Hall. Madson, B. (2011, January 20). Motorcycle-Article. Retrieved 4 16, 2011, from Motorcycleuse: http://www.motorcycle-usa.com