Marketing Assignment - Apple
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1.0 Segmentation Theory
Conrady & Buck (2008) defined market segmentation as the process of dividing the markets into submarkets within which consumer behavior proves to be more homogenous than among those submarkets. For this reason, specific characteristics for current possible consumers will be exploited. Segmentation can help in order to increase the effectiveness and efficiency of marketing. This is because it can help in order to identify the target group with the corresponding product. It is important to consider that the better the products to be offered are customized to the demands of the potential customers, the higher their involvement will be.
Currently, one of the most used approaches in segmentation is multidimensional. It is a system and method that is used in order to segment the data of the customers which symbolizes a plurality of the customers. Multidimensional approach uses some principles and theories of psychology which focuses on notion that there is no hierarchy of wants, so that a single purchase may satisfy many wants or desires, more or less, at the same time. As a result, this approach enables the marketers to focus on more in-depth aspects or factors which affect the satisfaction and buying behaviors of the possible or target customers.
2.0 Target Market Identification
The following is the explicit profile of one primary target markets of Apple:
2.1 Geographical Traits
This market is commonly located in the central region of Australia with population of 1000. This enables them to enjoy spacious, well built, modern or traditional heritage housing. On the other hand, some of them choose to live outside the busy urban centers in rural areas within communicating distance of the cities.
2.2 Demographic Traits
This market is consists of people ages 24 to 35, both male and female. They are all young adult. They’re income are from their jobs or works which ranges from A$68,500 to A$130,000. They are commonly professionals from different fields including education, medical, but most of them are primarily from the Information Technology field.
2.3 Psychographic Traits
This market is consists of people who are willing to pay a bit more for a better use experience of their electronic products. They also love experimenting technologies and are dependent to technologies, particularly the Internet. They are the people who love to be always connected with the world. They also love taking and storing photos, at the same time, they are music enthusiasts. Above all, they are very interested or professionals in media and design. These people are achievers (VALS type) – who are successful and work-oriented people who like, to and generally do, feel in control of their lives. They value consensus, predictability and stability over risk, intimacy and self-discovery. In addition, they are deeply committed to work and family.
2.4 Behavioral Traits
These people are very loyal. They commonly focus not just on the quality of the products, including the features and capabilities, but also focus on the design and the brand image of the product. Because of their loyalty and their income, they commonly avail of new products introduce by Apple.
3.0 Discussion/Rationale of the Target Market Collage
The collage shows the different characteristics and behaviors of the primary market of Apple. This market belongs to the middle and upper market who are working in the professional field in Australia.
First, the collage was shown with background image. This signifies the love of this market towards design, particularly focusing on web and graphic designing. The background image also signifies how these people are very free and alive.
These people are from professional field, but they are commonly from IT field, where in they are familiar with the recent developments of technologies. They are living spacious and comfortable houses in city and some in the urban areas. The most important thing to consider is the fact that they have some extra money which they can spend in buying electronic products that are of high quality but of high price. This is because; they have positions in companies which offer them good pay and income. On the other hand, these people also love to be connected; they express their feelings by connecting to different social networking. With this, these people love technology, and they love being connected to the Internet. It can be said that these people, due to their dependent to technology will not live without it. Furthermore, they also love exploring things by using technologies. In addition, they also love listening to music, because, it is another way of releasing tensions and stresses at work.
These people also enjoy their works – they love working and what they got from it. As a result, they are very precise with their action, planning it first thoroughly. This is the reason why these people love technologies at high price.
Outside work, they are independent and outgoing, which give them more confidence and satisfaction. Lastly, they are very family-oriented.
Conrady, R and Buck, M 2008. Trends and Issues in Global. Springer.
Encyclopedia of Nation. Australia – Poverty and Wealth. http://www.nationsencyclopedia.com/ (accessed April 14, 2010).
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Kurtz, D, MacKenzie, H F and Snow, K 2009. Contemporary Marketing. Cengage Learning.
Wedel, M and Kamakura, W A 2000. Market Segmentation: Conceptual and Methodological Foundations. Springer.
 Kurtz, D, MacKenzie, H F and Snow, K 2009. Contemporary Marketing. Cengage Learning.
 Wedel, M and Kamakura, W A 2000. Market Segmentation: Conceptual and Methodological Foundations. Springer.
 Foxall, G R, Goldsmith, R E & Brown, S 1998. Consumer Psychology for Marketing. Cengage Learning EMEA.
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 Kotler, P, Roberto, N and Lee, N 2002. Social Marketing: Improving the Quality of Life. SAGE,133