TRESemmé sells products very well. The idea that influences these people or organizations are its product categories, since it owns different types of products in different categories, the market is more likely to buy the products because there are different varieties to choose from.
Within a market, a market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. Another process that TRESemmé's goes through is a market segmentation, which is the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups. All of these definitions make up a market.
Market segmentation helps marketers define customer requirements more effectively. TRESemme will be able to effectively sell products with the right market segmentation, markets can easily find what they exactly want and need. Let us look at Tresemme Hair Fall Defense, lets say a customer wanted to buy a smaller bottle of this product. The market segmentation should be able to help this customer because the shampoo will come in different shapes and sizes overall. To have a successful segmentation, brands must have these 4 important things: Sustainability (a segment must be large enough to warrant developing and maintaining a special marketing mix), identifiability & measurability (segments must be identifiable and their size measurable), accessibility (the firm must be able to reach members of targeted segments with customized marketing mixes), and responsiveness (markets can be segmented using any criteria that seem logical).
There are 5 basic segmentations that marketers follow. Geographic Segmentation: dividing markets by region of a country or world, market size, market density, or climate; TRESemmé follows this segmentation because they have their products all around the world for marketers to grab their attention and make more profits out of them.
Demographic Segmentation: Segmenting market on the basis of age, gender, income, ethnic background, and family life cycle; TRESemmé's products aim for marketers who were born in the Y generation because they tend to buy their products more other than the X generation and baby boomers. They also make their products cheaper than other brand names that sell similar products.
Psychographic Segmentation: Deals with personality, motives, lifestyles, and geodemographics; this is when TRESemmé gathers information about people and this determines how they should sell their products and what products should they sell.
Benefit Segmentation is the process of grouping customers into market segments according to the benefits they seek from the product; TRESemmé will examine what their customers require of the product and develop communication strategy accordingly.
Usage-Rate Segmentation divides a market by the amount of product bought or consumed; TRESemmé keeps track on which one of their products are having the most sales.
TRESemmé's business market consists of 4 broad segments: producers, resellers, government, and institutions.
TRESemmé's company characteristics is reasonable since they are available across all retail stores in India and many buyers prefer to purchase from local suppliers.
TRESemmé's buying processes segments customers and prospective costumers on the basis of how they buy. This allows them to become better sellers for their markets.
After segmentation, the next task is to choose one or more target markets. TRESemmé deals with one specific target market because this way they can attract customers with a single marketing mix.
TRESemmé's way of targeting is the concentrated targeting method. They select a specific consumer segment for targeting its marketing efforts. TRESemmé needs to know where they should position their products so that they create a place in the consumer's mind.
No comments:
Post a Comment