Market Segmentation, Target Market, and Position
University of Phoenix
Kyra M. Johnson
October 15, 2014
Dr. Harry Caldwell
Market Segmentation, Target Market, and Positioning
“For over 90 years, the Jaguar organization is known for pushing boundaries of what is possible, inspired by founder, Sir William Lyons. Sir William Lyons insists that every car the company produces combines performance and beauty like no other. Sir William Lyons’ uncompromising vision set new benchmarks that we still live by today,” (Jaguar Land Rover North America, 2014). Jaguar’s Market Segmentation
According to "Business Dictionary.com" (2014), “market segmentation consists of defining and subdividing a large market into identifiable segments possessing similar needs, wants, or demand characteristics. The objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.” The four factors that affect market segmentation consist of behavioral, demographic, psychographic, and geographical differences. The Jaguar organization’s market segmentation consists of all four categories of the marketing mix. Jaguar’s Target Market
The "Entrepreneur" (2014) website states that a target market is basically a group of consumers that will purchase an organizations product or service. The Jaguar organization sells high-end luxury automobiles ranging in price from $30,000 and up. Despite the organizations focal target market which consists of a wealthy class of consumers; Jaguar does manufacturer afford vehicles as well for example the S-Type services consumers that fall in the middle- to-upper class financial status. Jaguar’s Geographic Segmentation
According to Kotler & Keller (2012), geographic segmentation consists of dividing target market into geographic locations. Geographic locations can consist of countries, regions, states, cities as well as neighborhoods. Jaguar is an international brand and possesses location globally as well as locally. The organization stretches as far as the Ukraine. The luxury dealer possesses retail locations all over the United States, (Jaguar Land Rover North America, 2014). Despite the organizations presence in the states, most of the company’s retail locations are inner city near other luxury car retailers. Jaguar’s Demographic Segmentation
According to Kotler & Keller (2012), demographic segmentation consists of one’s age, social class, income, race, gender as well as education. The Jaguar consumer base consists of high level incomes of the common working class, social class elevations, older genders, and the higher educated class. Despite the organizations strategy of producing an affordable version of Jaguar; many consumers still dream of owning a luxury vehicle of this type. The exception to the rule consists of entertainers as well as self-made millionaires, (Jaguar Land Rover North America, 2014). Jaguar’s Psychographic Segmentation
According to Kotler & Keller (2012), psychographic segmentation consists of one’s beliefs, attitude, lifestyle as well as consumer’s values. The Jaguar organization capitalizes in the psychographic market segmentation. The organization produces luxury vehicles that cater to one’s ego, lifestyle perception as well as one’s belief that driving such a vehicle provides one with power and position. Many people consider one that drives a Jaguar as a person of position and power as well living the lifestyle of the rich and famous.
Jaguar’s Behavioral Segmentation
The behavioral segmentation includes different strategies. The organization targets a consumer base of the particular behavior patterns which include consumer’s that drive high-end luxury vehicles and do not mind spending the money, top-executives of organizations, people that believe cars make the person, and people that possess money with high spending habits such as actors, singers, business gurus as well as top...
References: Business Dictionary.com. (2014). Retrieved from
http://www.businessdictionary.com/definition/market-segmentation.html, on October 18,
Entrepreneur. (2014). Retrieved from http://www.entrepreneur.com/encyclopedia/target-market,
on October 18, 2014.
Jaguar Land Rover North America. (2014). Jaguar. Retrieved from
http://www.jaguarusa.com/news-and-events/index.html, on October 18, 2014.
Kiley, D. (2005). Bloomberg Businessweek. Retrieved from
/2005/11/jaguar_tries_gorgeous_as_new_positioning.html, on October 18, 2014.
Kotler, P., & Keller, K. L. (2012). Marketing Management (14th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. L Brands.
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