Marketing Analysis: Segmentation And Target Market

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Segmentation and Target Market
Market Segmentation, in broad terminology can be defined as a marketing strategy that involves dividing a broad target markets into smaller segments of consumers based on their common needs and priorities. Later, defining and executing strategies to target them.
In May 2013, ITC planned to expand its product portfolio in Personal Care Products’ Business by launching India’s first range of ‘couple deodorants’. A product in this portfolio focuses on psychographic segment of the market and therefore affects the lifestyle of the consumers in target markets. ITC already being one of the market leaders in rural and urban sectors understood the market and decided to focus on another segment of the market that comes under …show more content…

Segment Profitability  The segment where ITC targets is capable of delivering profits of the right value. They marketed effectively and therefore captured 8.7 % market share coming on the second rank in the market. How profitable the segment is can easily be experienced by realizing that IT hubs like Bangalore, Delhi etc. region are already under the coverage of ITC’s Engage. Commenting about the profitability of Engage is farfetched because no other product before this has proven its metal in youth couple segment in India.
4. Current and Potential Competition  Currently Engage is in a close competition with FOgg who engross a market share of 12.6% therefore being on the first rank. Engage is also coming with its own marketing strategy like keeping products in Café coffee day where the footfalls of young couples are in abundance. A possible competition for Engage can be other deodorant sprays’ firms because they can also come up in the market targeting the same segment.
5. Business Capabilities  Engage has the capabilities to be successful in the market because of being under the umbrella of ITC and therefore chances of losing the market are comparatively less. Also, Engage also has an advantage of enormous abundance of resources because of the same

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