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FRIGIDAIRE FRONT LOADING WASHING MACHINE MARKET POSITIONING
The market for Frigidaire's front-loading washing machine should be divided into single segments which can then identify groups of consumers who share commonalities that have the potential to drive demand for the new product. Each segment of the market will have similar needs in quality and performance; they have a semi-uniform response to the marketing mix. The target of Frigidaire's marketing campaign will rely on the hierarchy of each segment's priorities. Typically, a market is segmented to include demographics combined with other behavioral attributes as previously demonstrated in the VALS survey. The information obtained in data collection from these market segments is crucial because the behaviors behinds these groups combined with the presentation of the product are the driving forced behind sales. One technique frequently used is a perceptual map that discerns which features are important to consumers, often called determinant attributes (Business).
The case study of the Frigidaire Corporation illustrates that valuable data has been collected; therefore, if applied correctly, the company has the potential to position the new front-loading washing machine in the correct market segment(s). According to Exhibit 5 in the case study, the following populations have above concern for conservation of resources: Elite urban singles between the ages of 25 and 34 and couples between the ages of 35 and 54 both of value space savings; Sophisticated townhouse White and Asian couples who are 55 years old or older have above average ecological concerns; Upscale suburban Asian and White families between the ages of 35 and 54 have determinant attributes of performance ...
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...ered, especially in the cities previously mentioned. The Frigidaire Corporation must also be mindful that the majority of Frigidaire customers are families. In conclusion, the
primary marketing campaign must target families and position the new product well within that realm. They must additionally target the aforementioned cities, calling primary attention to the attributes of fashion and performance with a secondary emphasis on ecological conservation.
REFERENCES
Business Bureau-UK, Business Information Resources. (2002, January 7). Market Segmentation.
Retrieved January 28, 2006, from http://www.businessbureau- uk.co.uk/salesmarketing/segmentation.htm.
Palan, Kay M. & Dannels, Timothy T. (1997). Frigidaire Company: Launching the Front-
Loading Washing Machine. North American Case Research Associates.
The simulation game together with the class material provide with useful insight on how to define and select a target market. They both provide the bases for segmenting consumer markets. As state in the ...
This paper is a continuation of the previous SWOT analysis of the Home Depot wherein an audience was selected for the marketing plan. The segmented audience chosen consists of women ages 35 to 45 that are members of generation X with similar interests in home and gardening do-it-yourself projects. A description of an ideal customer is provided as well as the benefits if chosen to market to that specific audience. Using the segmented audience, an overall goal of increasing Home Depot customer relations was set and objectives were identified to gain a positive brand image in the eyes of this targeted group. Strategies were then selected based on target audiences
Delivering the requested number of products successfully matching different market segments, consumers, and their expectations in terms of price, age, reliability and ideal positioning on market perceptual map (graph above).
The marketing strategies are probable to implement the differentiated strategy in advertising with the aim to deliver a wide range of benefits to different segments. These segments are considered to be further divided on the basis of use while placing the possible tourists based on the ways through which they utilise the product. These segment groups are to be classified in different classes such as business tourists, cultural tourists, and environmental tourists. It is considerably an important feature to consider while targeting and segmenting tourists because it differentiates the activities of tourists as per the selected destination. It is obvious that Quebec City is not expected to be dependent on the specific tourism operation for generating
3. Company: FFD of GCP has the most customer centric management team and hence they had consistently delivered on the promise of convenient, good tasting food (Italian frozen dinner’s sector) at a reasonable price. GCP has two brands:
The case study gives some hints on Primark’s segmentation and targeting criteria, and the following graph analyses those based the assumption that segments are mainly defined by basic on personal characteristics (demographical, socio-economical, geographical, personality or lifestyle based) and "product-related
All of these factors are important to monitor as this will directly affect the decision making process. Bike size and price range will help to determine the size of the market as far as existing competitors and estimate the base price in each market segment. Product dimension sensitivity and preference indicates the expectation of the products from our consumer’s viewpoint. It is important to interpret the market segment reports and to analyze how the segments are influenced by advertisement such as televisions, magazines and internet. It is important to invest money in advertisement media to attract consumer in each market segment without over spending or under spending. The media viewing habits help to determine the best way to reach the customer for each segment.
Analysis of an Advertising Campaign We are swarmed by advertising. Companies constantly battle to compete for the sale of their product. Adverts appear in every form of media including radio; television; Internet; billboards; newspaper; flyers and magazines. The advertiser wants us to buy their product above their competitors. The basic aim of advertising is to convince the target audience that their product is the best in the field and superior to the other products of similarity.
Terrell, E. (n.d.). Market Segmentation. (Business Reference Services, Library of Congress). Retrieved April 6, 2014, from http://www.loc.gov/rr/business/marketing/
One of the primary goals of a market analysis is to determine how attractive a market is for potential entrance. Currently, more consumers want not only branded fashion but also branded homeware in order to express their identity (Posner, 2013)
Conclusion Companies are better able to market their products to consumers if they have a good Understanding of the consumers and the basic purchase decision process. By understanding the consumer and the type of purchasing behavior associated with different products, marketers are more likely to create a marketing campaign that positively impacts the consumer’s purchasing decision.
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
This is based on the fact, that the small market volume does not enable brands a dynamic development of its positioning. At the opposite extreme, there are markets, which are constantly subjected to change in customers’ needs and preferences. The increasing heterogeneity of this kind of markets represents a challenging aspect for a positioning and requires high individualization (cf. Feddersen 2013, p. 54).
According to Shimp (2007), there are five important factors which determine the purpose of advertisement in terms of marketers’ communication with consumers. He listed these five factors as follows: “(1) informing, (2) influencing, (3) reminding and increasing salience, (4) adding value, and (5) assisting other company efforts.” (p.246). To clarify that, the first most important aspect is informing people which means company needs to enhance the awareness of the consumer about their products by mentioning its advantages and features. Advertising also affect the products in two ways. Firstly, by basic demand, which build consumer desires for old products of the company and secondly, refers to a new brand of the company. In addition, effective advertising can retain consumer’s mind fresh about the image of a brand which develops the trace of the memory where consumers have to choose between two or more products. Moreover, it may change the product quality, create new, well-designed and elegant product and change consumers view towards the product. Lastly, by effective advertising program, company may save money and time as s...
Nevertheless, one of the most important constants among all of us, regardless of our differences, is that, above all, we are buyers. We use or consume on a regular basis food, clothing, shelter, transportation, education, equipment, vacations, necessities, luxuries, services, and even ideas. As consumers, we play an essential role in the health of the economy; local, national and international. The purchase decision we make affect the requirement for basic raw materials, for transportation, for production, for banking; they affect the employment of employees and the growth of resources, the successfulness of some industries and the failure of others. In order to be successful in any business and specifically in today’s dynamic and rapidly evolving marketplace, marketers need to know everything they can about consumers; what they are want, what they are think, how they are work, how they are spend their leisure time. They have to find out the personal and group influences that affect consumer decisions and how these decisions are made. In these days of ever-widening media choices, they need to not only identify their target audiences, but they have to know where and how to reach