industry segmentation power bicycle in asia essay
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Powerbike is known as a local relatives enterprise in Thailand. Powerbike opened one-stop retailer bicycle in 2006 by Roi Ain, Thailand. Return Et is a city in north east part of Asia. Powerbike offer a lot of kind of bike, and also the bicycle with a specialty area function. Powerbike also provide pertaining to service and repairing pertaining to the bike. Furthermore powerbike is a one-stop retailer inside quality and reasonable price.
In the Advertising Segmenting there are four kind of segmentation, they can be Behavioral Segmentation, Demographic Segmentation, Psychographic Segmentation, and Geographic Segmentation.
Behavioral Segmentation is the most effective type of segmentation because it uses actual consumer behaviour or perhaps product use to make distinctions among marketplace segment (Farrell & Hartline, 2005). Demographic Segmentation contains dividing the marketplace into group based on varying such as age group, gender, relatives size, relatives life cycle, income, career, education, religion, race and nationality (Kotler, Brown, Adam & Armstrong, 2004). Psychographic Segmentation will be based upon consumer characteristic. Psychographic Segmentation is based on differences in psychological qualities (personality attributes and motives), key demographics, and lifestyles (the appearance of the two former categories) (Elliot, Rundle-Thiele, & Waller, 2010).
Geographic Segmentation are the areas in which buyers reside, including coastal, away from the coast, urban, non-urban, tropical and temperature (McColl-Kennedy & Kiel, 2000).
Basically, the main function of the promoting segmentation is always to explore more, to set the prospective market. This kind of segmentation is going to helpful for the marketer to put their marketplace, base for the behavioral segmentation, demographic segmentation, psychographic segmentation or foundation on location, use the geographic segmentation.
Q1. Based on Powerbike, Roi Ou —provide a detailed description of 2 market segment profiles using their current buyer market. (use specific demographics; psychographics & behavioral variables). Why are both of these segments distinct?
Demographic segmentation is segmentation base in variable of people, such as age, family member, existence cycle, cash flow, occupation, education, religion, contest and also nationality. Base on the demographic segmentation, this segmentation can make the particular of the target audience. For example in the average old, kid within a family uses kid bike, when the child growing up, become a teen, the adolescent will change the bike to the best size. If the teenager turns into an adult, the adult changes the bicycle again, and will use an adult bike. Furthermore in income, someone who had low cash flow, mediocre income and large income could have different thinking. Levels of profits will make persons think inside the different ways and affect the approach they make decisions also. People with high profits will buy a bike inside good quality and in addition choose the bicycle within field of expertise faction. Even so people with in low income will get a bike bottom on what they needs.
Psychographics segmentation is known as a segmentation bottom on customer characteristic. Psychographics segmentation makes us be familiar with way client act and think (McColl-Kennedy & Kiel, 2000). Through this psychographics segmentation, teenager by high class family for example , the teenager will certainly spend more income to purchase anything. When they purchase a bike, they may choose cycle with particular function such as, bicycle motocross (BMX) this kind of bike can do dirt and grime jumps, huge batch bike, or maybe a bike with high speed.
Behavioral segmentation is one of the most powerful even more then the other of segmentation. Behavioral segmentation is bottom on people attitudes and behavior. For example there is a well-known of a bike, with a good quality and also fair price, a rather difference in price, people might not think about it, as a result of people already known about the brand and also the quality. Therefore, people will believe with this brand and buy it.
Every segment features different effect to set the precise target market. In such a case, powerbike work with two different segmentations to set their target audience. First powerbike use demographic segmentation as well as the second, powerbike use psychographics segmentation. Demographic segmentation is to set all their target market foundation on their age group, family member, life cycle, salary, occupation, education, religion, contest and also nationality. In other side, powerbike employ psychographic segmentation to set the characteristic of powerbake consumer characteristic. Everybody, in all grow older can use bike. Furthermore individuals have their own reason to use bike. There many people use motorcycle as their transportation tools, presently there some people employ bike his or her hobby in order to do some sport activity. For example university student and housewife they use bike intended for support their activity as well as use bicycle for different reason and main also.
1st, base about demographic segmentation, a student and a housewife is going to think, obtain and employ bike several reason and in addition different function of the cycle. University student will use bike his or her transportation instrument, and also inside their ages, they need a fashionable bicycle. Thus the majority of them will go to get bicycle motocross (BMX) motorcycles. Since they believe this type of bike is fashionable and not negative at the rate also. With this kind of cycle they can carry out dirt gets, street operating and also in a few area you will discover BMX ranching. However , for a housewife, she could not order BMX bike because it trendy. She will think to use motorcycle in the different ways. For example , when ever she go to the market, and she acquire many things such as, vegetable, beef, and other points. She will desire a bike with the basket in front of the bike to put all of their things, so it is likely to make her easier to bring all their things and even more simple. Furthermore in a housewife ages, they will think more about the product quality and worth of the bike not like a university student.
Second, base about psychographic segmentation, in a pupil and housewife lifestyle will be so very different. Student, whom likes to do ranching, will purchase a motorcycle with a high speed of bike. They are going to purchase street bike, often known as racing motorcycle, because it is the fastest and in addition lightest motorcycle category. In other hand, stay at home mom will get a bike foundation on the top quality, price and also the function. The housewife is going to choose bike that will help her a lot. For instance , women certain bike. Ladies specific bicycle are usually when you have ladies saddles, smaller body sizes and alternative colours, and are designed to make women feel convenient.
Base within the certain segmentation, powerbike can set their particular target market and make the specific of the product also. Market segmentation help powerbike to put the customer need base about age, member of the family, life routine, income, career, education, religion, race and in addition nationality. One example is in student ages, they need a bike even more fashionable. As a result they will select BMX. Yet , housewife will think inside the different ways. As a result, housewife is going to purchase cycle with the certain design and helpful for her to do activity. Base in physiographic segmentation, both scholar and stay at home mom will have a different lifestyle. As a result they will order different type of motorcycle also. Scholar who like to ranching inside the road will certainly purchase street bike, and housewife will choose ladies specific motorcycle, because it will fit all of them and also cozy for stay at home mom.
Q2. What type of target strategy has Powerbike adopted? Warrant your answer.
In the focus on Marketing Strategies there are five fundamental strategies for target audience selection. First is single segment focusing on, this concentrating on strategy is all about give experts in a particular product category, for example Starbucks, Porsche, and Ray-Ban. Second is selective targeting which includes multiple capacities in many distinct product groups use picky targeting effectively, for example Procter & Wager (P&G). Third mass marketplace targeting this kind of targeting consists of the development of multiple marketing program to serve every costumer portion simultaneously, for example coca-cola. Your fourth is item specialization these types of strategies for experience in a merchandise category may be across various market segments. The last the first is market field of expertise this type experience in one market allows to provide customized program (Farrell & Hartline, 2005).
Furthermore, powerbike is used single segment targeting. Seeing that powerbike item one type of product but has a specialization from the product. Powerbike, product a motorcycle and the specialization is a large number of kind of the kind of the bicycle such as, huge batch bike is designed for any terrain, road motorcycle the quickest bike, women’s specific bicycles this type is likely to make women much more comfortable when ride the motorcycle, children’s motorcycles for children, hybrid bikes this sort take style features coming from road and mountain bike, and bike motocross (BMX) can use pertaining to dirt advances, street using and also BMX raching. Nevertheless , adopted an individual segment focusing on, powerbike can fully understand what their buyer need and want. In the other hand, powerbike also can end up being focus inside their target market bottom on the powerbike specialization product.
In the target audience strategies there are five simple strategy, single segment concentrating on, selective targeting, mass marketplace, product specialization, and industry specialization. Pertaining to powerbike, powerbike adopted one segment concentrating on, because powerbike product an example of a the motorcycle, but the cycle has the specialization, mountain bicycle, road bike, women’s particular bikes, kids bikes, hybrid bikes, and bicycle motocross (BMX). Via adopted an individual segment concentrating on, powerbike can fully understand what the customer need and desire.
Q3. Develop an appropriate placement strategy for Powerbike? Justify
Inside the positioning strategy there are several approaches in positioning. There are using product characteristics or perhaps customer rewards as a positioning strategy, essentially focuses on the product or buyer benefit. Charges as a placing strategy, bottom on selling price and top quality. Positioning approach based on work with or app, this type of placing use represents a second or perhaps third location. Positioning strategy based on item process, should be to associate the merchandise with its users or a category of users. Positioning strategy based on item class, need to make sure crucial positioning decisions. Positioning strategy based on ethnical symbols, created cultural signs to distinguish their brands from that of competitors. Placing strategy based upon competitors, sort of positioning tactics, and a great implicit or explicit frame of reference is a number of competitors sort of positioning approaches, an implicit or precise frame of reference is one or more opponents (marketing91, 2010).
For powerbike, powerbike will use positioning strategy base on use or perhaps application. “Director-general Soithip Trisuddhi said there were more than six, 840, 1000 motor vehicles registered in the Bangkok area as of October recently, up six. 2 percent on the 6th, 444, 1000 in 2010. Normally, 1, 225 new automobiles were authorized in Bangkok every day this past year, increasing by 991 completely, while the total length of the town road network remained precisely the same at some, 149 kilometers (“Bangkok traffic expected, ” 2012). Foundation on it, Bangkok is one of the towns with the excessive private automobiles. Thus, which makes Bangkok and so very packed and also features traffic jam at all times.
When powerbike open the second one-stop retailer in Bangkok, this is can help Bangkok in reduce the traffic jam and also fewer pollution. Furthermore this is will be a good challenge for powerbike, because Bangkok is the capital and the major city in Thailand. Therefore, with that powerbike can growing their retailer and also can enhance their sales. In the positioning approach there are seven approaches. They can be product characteristics or client benefits as a positioning technique, pricing like a positioning strategy, positioning approach based on item process, positioning strategy based on product category, positioning strategy based on cultural symbols, placing strategy depending on competitors, setting strategy depending on use or application. In powerbike circumstance, powerbike uses positioning strategy base about use or perhaps application.