Assignment task: Add two academic sources and brief description how it is applied to the below answer:
A large, Boston-based consulting agency frequently conducts segmentation studies for its clients. The following are segmentation data to assist their advice to two different clients. Each is a Venn diagram describing some demographic and psychographic findings. Figure A depicts the proportion of a recent sample of shoppers at a national grocer who indicated interest in a new gourmet Lean Cuisine product. Figure B depicts the proportion of owners of a game console (obtained from registration cards of the base system) who indicated interest in a new game.
1. Review the Segmentation Data; illustrated below. If you worked at this consulting agency, which segments would you suggest each client target, and why?
Based off the segmentation data, I would suggest the following for each of the client target and why below;
Segmentation Data A: Lean Cuisine Product
Upper-Middle Households with 2+ kids may be likely high due to the want for convenient, nutritious meals that serve to family health. Why should we target, upper-middle households with 2+ kids represent a sizeable marketplace length that and have additional funds available for use.
Single Women is high due to their lifestyle possibilities for convenient and healthy meal options. Why should we target, single women often appear for exceptional meal solutions that can be quick and coordinate with a healthy lifestyle.
College Students are within reasonable limits and maybe more. College students are looking for convenient, affordable meal solutions. Why should we target, college students are constantly looking for affordable low cost, and the latest food options.
Segmentation Data B: New Game for Game Console
Males from 13 to 21 years old is very high due to the engagement with video games. Why should we target, the most desired demographic group with an extreme possibility of purchasing and playing new games.
Males from 22 to 35 years old is very high due to continuous gaming interest and the likelihood to have additional funds available to use. Why should we target, they normally have a choice for gaming and are looking for advanced and playing for leisure or relaxation.
Females 13 to 35 years old is increasing due to the more females interact with gaming. Why should we target, to represent a developing and various gaming demographic.
2. Please review the Chapter 5 PowerPoint presentation. If you were to make a perceptual map for the product category of watches, what two "key" attributes should you include to illustrate both the similarities and differences among the brands? Make sure to include a minimum of 4 brand name watches in your chart and your analysis.
Perceptual map for watch product category two key attributes would be luxury versus affordability and traditional versus modern. Luxury versus affordability helps differentiate brands based on financial positioning. Traditional versus modern emphasizes the fashion and innovation factors of brands.
|
Brand
|
Rolex
|
Casio
|
Omega
|
Timex
|
|
Luxury
|
High
|
Low
|
High
|
Low
|
|
Affordability
|
Low
|
High
|
Low
|
High
|
|
Traditional
|
High
|
Low
|
Low
|
High
|
|
Modern
|
Low
|
High
|
High
|
Low
|
Analysis:
Rolex - Positioned inside the excessive luxury and traditional segment, attractive to consumers that are in search of well known and traditional fashion.
Casio - Known for affordability and modern design, focused on practical, and financially aware consumers.
Omega - Mixed between high luxury and modern-day design, attracts consumers curiosity about popularity and present-day technology.
Timex - Provides conventional layout at a lower cost which appeal to the consumers that are looking for cost with a classic look.
3. Find a company that is struggling. Why do you think it is struggling? Where is it in the positioning matrix? Could the company be more successful if it changed any of its Ps (e.g., to head to the low/ low/ low/ low or high/ high/ high/ high cells)? Why?
Family Dollar - Retail, operates a chain of more than 6,800 general merchandise retail discount stores in 44 states. Providing primarily consumers with a selection of priced merchandise in neighborhood stores.
The company I believe is struggling for a couple of reason, competitive pressure and market saturation. Competitive pressure, Family Dollar faces tough opposition from large stores and e-commerce structures. Market saturation, with low cost and low agreeable positioning leading to limited growth capacity.
Positioning Matrix
Product/Service Quality = Low
Pricing = Low
I believe if the company would adjust product/service quality and price it would make a difference. Changing to low prices and moderate quality this may increase product satisfactory to draw in many consumers while maintaining competitive prices. Also, providing a widen product range will introduce higher-nice items to attract cost awareness consumers but quality-conscious consumers. Why should these changes be made to improve sustainable growth and maintain a better market fit.