Red Bull has identified the best target market for its product at behavioral segmentation. Red Bull was set up by Mr… Dietrich Mathematics and Mr… Cholera Heavily in Austria since….
Target Market, Segmentation
Apple conducts all sorts of research to determine and identify their specific target markets to assist them in their marketing strategies to promote their wide range of products. To help them in this process, they need to analyses and break down the different markets into segmentation categories. The four main bases, which segment a consumer market, are known as Geographic, Demographic, Cryptographic and Behavioral segmentation.
Geographic Segmentation is based on variables such as region, city size, density and climate.
Demographic Segmentation is based on variables such as age, sex, family size, family life cycle, income, occupation, education, religion and nationality.
Cryptographic Segmentation is based on variables such as socioeconomic status, values, attitudes and lifestyle groupings; and personality.
Behavioral Segmentation is based on variables such as occasions, benefits sought, user status, usage rate, loyalty status, readiness stage and attitude towards product.
It is vital In the case of the PAD 2, Apple primarily used Cryptographic Segmentation to identify its target market. Apple takes in to consideration the socioeconomic status, lifestyle and personality variables of its consumers. As apple has already built itself a respectable reputation from its previous release PAD, this is an advantage as, there is already a sense of anticipation for the PAD 2 release and the new improvements and features that it will have in comparison to the original PAD.
Analyzing and interpreting consumer’s socioeconomic status characteristics is fundamental when it comes to identifying Apple’s target marketing strategies. They accordingly priced and promoted the PAD 2 based on Income, Education level and Occupations of their consumers. Apple offers their consumers a variety of different oodles of PAD 2 with all different prices to suit their lifestyle and needs starting from $algal to $algal. They also offer students ‘Apple Education Pricing which is an education saving for any of their products purchased.
As technology, consumer interests and lifestyles are constantly changing, Apple has successfully accommodated to their shifting consumer tastes and hunger for new improved technology. PAD 2 features a faster processor, gyroscope, two cameras on the front and back and is one third thinner than the original PAD. Unlike all its other competitors, Apple released PAD 2 approximately only a year and two months after leasing its initial PAD. This was an advantage as their competitors were now faced with catching up to the newly released technology.
Apple has related the PAD 2 to correspond to the personality of the consumer by associating the availability of a wide range of applications allowing the user to listen to music, play games, read their emails, surf the internet, watch movies, video call other Apple PAD users, read books, capture and view photos, view maps and the Apple – Target Market, Segmentation By amend Overall Apple has successfully completed their research and identified their target arrests prior to releasing PAD 2 and therefore having such a great result in sales, future and current brand loyalty, and growth rate in non-current users wanting to purchase their products. There are many characteristics that influence consumer behaviors.
The two main characteristics are known as Internal Characteristics, which are psychological and personal influences, and External Influences, which are Social, and Cultural influenced. In relation to the consumer behavior of PAD 2 customers in Australia, they primarily fall in to the psychological, personal and social influenced categories. As Apple uses Cryptographic Segmentation to identify its target market it is based on socioeconomic status, values, attitudes, lifestyle groupings and personality variables. Apple already has a great name and reputation about its products, and even by word of mouth of current users to non-current users, is of great influence, as non-current users feel the urge to want to experience this amazing new technology for themselves. Read about iPhone segmentation
Personal influences would be the need of purchasing an PAD 2 to accommodate to their current occupation, education, age and life cycle stage needs. In today’s modern society, not many people use desktops as they used to. The idea of technology been advanced, compact and portable is what attracts this category of consumers. Social influences also play an important role in the PAD 2 consumer behavior patterns. If there is some one in a family who owns an PAD 2, they will eventually introduce it into the rest of their family, social and membership groups. This is of great influence to the non-current users as they are introduced to the PAD 2 from someone that they know well and if they like what they see and hear about the product, they will obviously then purchase one for themselves.