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Segmentation and Targeting - Essay Example
Pages 4 (1004 words)
Segmentation and targeting Name Institutional affiliation Date Segmentation and targeting Introduction Marketing comprises of three phases that determine the customers’ reaction towards a product introduced in a new or mature market. In the undifferentiated strategy, every buyer is treated in the same manner making organizations less concentrated on making precise efforts to satisfy particular market groups…
Specific marketing cases Ford Escort is a car brand that was revitalized in 1982, adding Ford’s blue oval insignia for the first time in history alongside a newer frame. The brand was aimed at the sports car market, with a two-seater hatch for lower rooflines (University of southern California, 2010). These body features proved unsuccessful in the sports market and once again, the Ford escort was remodeled for the youth market. The escort brand introduced in the early nineties was a much lower-slung and casual car than either the sedan or wagon. The brand reinstated the Escort GT, as the company was more focused on providing an affordable product for the youths. The Lexus target market ranges for people around the age of forty, with a strong household salary. The luxury market back in 1989 had Lexus brands sell around 25,000 cars in hope of achieving a target of 65,000 cars. With the main rivals of Lexus being brands such as Mercedes Benz, the target market of majority of its brands is well-off customers (Anurit, Newman, And Chansarkar, 2006, p. 15). The choice of target market made by Ford while manufacturing the escort brand revolves around the model of product life sequence. ...
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