Explain how and why groups of customers are targeted for selected products What is segmentation? Market segmentation is the division of a market into sub groups with similar characteristics. A business can then target these groups and develop products and services for each of them. There are several ways in which consumers can be split up into. These is geographically which includes location‚ demographically which includes gender‚ social class‚ age‚ income‚ ethnicity or religion‚ psycho graphically
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Problem: Aqualisa has invested 5.8 million to develop a breakthrough product‚ the Quartz shower that positions itself superiorly in terms of quality‚ technology‚ design and ease of installation. Since it is not selling well‚ Aqualisa is now looking for a marketing strategy to generate sales momentum for Aqualisa Quartz. Possible alternatives: Targeting the correct market is crucial to solve the problem. With this in mind‚ there are 4 alternative marketing strategies. The first option is to target
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For a company or business to effectively respond to different customers needs and wants in order to increase sales‚ they make use of market segmentation. Market segmentation as defined by Kerin‚ author of Marketing‚ 10e; involves grouping potential customers who have common needs and will respond similarly to a marketing action. In further elaboration to define segmentation‚ if there is a demographic group of customers who are all on diets and are watching their weight (common needs/desires) and
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segmentation‚ targeting‚ positioning‚ differentiation and branding For many organizations today to be successful they must know what consumers needs are‚ so as to satisfy them successfully and profitably to avoid wastages of resources. For these organizations to be successful they have to undertake segmentation‚ so as to know their target market and also to know the available competitors in the market producing the same goods. As a matter of fact‚ for Colgate to be successful they must segment
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Case Study Aqualisa Quartz: Simply a Better Shower Quartz Value Proposition – Plumbers What Plumbers wanted • Ease of installation • Quality product with minimal breakdowns • Service free (minimal service requirement) Product Benefits • Flexible location of the controller unit requires minimal remodeling of the bathroom making shower installation simple‚ cutting the installation time to half a day Value Proposition Quick and easy installation requiring only basic skills (more installations
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consideration the problem of Aqualisa Quartz shower line and found out how to solve it‚ how to make an enormous problem to become an opportunity instead. This company made a great job with it’s research and creation of product that takes advantage on it’s competitors by giving everything to needs of the customers. But the problem is there is no connection between plumbers and customers. Also sales are affected by bad experience of customers with previous products. So‚ customers don’t really trust to this
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‘Aqualisa Quartz: Simply a Better Shower’ Protagonist in the case: Harry Rawlinson‚ Managing Director of Aqualisa Case Situation: Aqualisa Quartz‚ a significantly innovative product developed by Aqualisa‚ in terms of both cost and quality‚ has been facing challenges in the UK shower market since its much hyped launch four months ago. To generate sales momentum‚ Rawlinson was rethinking his overall marketing strategy for Quartz in order to capture the market with the breakthrough product.
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HBS CASE: AQUALISA QUARTZ – SIMPLY A BETTER SHOWER 1. Aqualisa spent three years and €5.8 million developing the Quartz. Was the product worth the investment? Is Quartz a niche product or a mainstream product? What is the Quartz value proposition to plumbers? To consumers? Answer: In my personal opion‚ it was worth for the Aqualisa to spend three years and €5.8 million developing the Quartz because of the tremendous potential market demands. For 60% of families had shower with lot of mechanical
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Major decision issues in the case 1. Aqualisa has to decide its channel strategy (which channel to choose from trade shops‚ showrooms‚ DIY sheds‚ or plumbers to increase sales)‚ product promotion strategy (how to promote new product)‚ and product positioning strategy (how to position products in a segment). 2. Most of the plumbers are conservative and historically hesitant to any electronic devices in showers. So how should Aqualisa convince and make these plumbers accept Quartz showers?
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SEGMENTATION (Harish pg3) The process of defining and subdividing a large homogenous market in to clearly identifiable segments having similar needs‚ wants or demand characteristics .Its objective is to design a marketing mix that precisely matches the expectation of customers in the targeted markets. Bases for segmentation Geographic segmentation -: Geographic segmentation calls for division of market in to different geographical units such as nations‚ states‚ regions
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