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Targeting
Selection of potential customers to whom a business wishes to sell products or services. The targeting strategy involves segmenting the market, choosing which segments of the market are appropriate, and determining the products that will be offered in each segment.
Market Segmentation
Mass Market Niche Micromarketing The Individual
Micromarketing
Dr. Rosenbloom
Personalization
Segmentation Variables
Demographic Segmentation
Benefits-Sought
Segmentation
Geographic Segmentation
Situation Segmentation
Psychographic
Segmentation
Behavior/Usage
Segmentation
Dr. Rosenbloom
25-40
40-60
GENDER
47%
53%
Male Female
OCCUPATION
Students
Working Prof. 12% 6% 6% 35% Home Maker Self Employed 41% Service
Income
0%
24%
47% <5 Lakhs 5-8 Lakhs 8-12 Lakhs > 12 Lakhs
29%
Total
Other findings
All the respondents are satisfied with iPhone. 80% of the respondents would recommend others to purchase iPhone. 95% of the respondents are heavy internet users. ( Monthly usage in excess of 1 GB)
20
15 10 5 0 Pricing User Interface (iOS) Lack of After Sales Service Lack of Supporting Infrastructure (4G Facilities/ Faster Net Speed, etc.) Dislike towards iPhone Other Total
Retailers Views
Target Audience: High Income Group, Working Class, Age Group: 26-39 Influencing Factors: Product Features, Technology and Brand Positioning. Maximum Sales : New Launch, Festival- Diwali Who buys : a.) Interested only in Apple. b.) High end Products c.) Price not a concern Apple customer, generally sticks to Apple.
Target Segment
Geographic : Urban India Demographic : High Income Group, Youth and Working Class. Behavioral : 1. User Status : Users and Non-users 2. Benefits : All in one Phone 3. Usage rate : Heavy Internet users 4. Occasions : New Launch, Festivals Psychographic : Quality conscious, Status Symbol.
Statistical analysis
From the Data Collected we found that 86% of the consumers feel that I-phone 4 and 4S are overpriced. From the sample of 60 people that we have taken 43 are non I-phone users. Since the sample size is more than 30 we would use z test to test our hypothesis.
n=60, P=43/60= 0.7 p=0.86, q=1-p = 0.14 Ho: There is no significant difference in the proportion of people buying iPhone 4 or 4S. Ha: There is a significant difference in the proportion of people buying iPhone 4 or 4S.
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