2-1 Blog

In the case study article, what market segments were identified and what segmentation strategies were implemented?

The demographic was one of the strongest marketing segmentations put into their plans. They heavily targeted women in order to further expand their profits and sales. This was due to the fact that most of their sales were from men. Culture and lifestyle were also taken into consideration as even in their ads they show people with a lot of movement and the Under Armor moving with people’s every movements.

What do you believe are four to five key points to remember when implementing segmentation strategies?

1. Objectives: having a clear set objective is important when implementing segmentation strategies. In Under Armor’s case they saw the need for more women in their campaigns and went for it. In their company this was a goal that was achievable and in reach.
2. Development: Putting the plan into forward motion is important as well. Just writing out the plan and hoping it will happen doesn’t work. Instead there has to be forward momentum in the company towards the goal.
3. Understanding your consumers: If a company just says they want more women to buy their products it doesn’t mean it will come true. Rather there has to be extensive research done into the market trends behind women and why they buy.
4. The launch plan: Most importantly there’s executing the launch plan.

Identify a new market segment that you have noticed recently (during your own shopping experience online, in a commercial ad, or in a secondary resource such as a magazine) that you believe would be a great market to explore. How might you create a segmentation strategy to reach this new market segment?

Animals owners! Recently in Barnes and Noble I noticed a lot of pet magazines such as Catster, Dogster, and other animal magazines. I had never noticed this before but they were really cool and targeted towards the owner of animals with tips, products, and ads all based around animals. Ways to create a strategy for this market would be through a lot of research as to what makes animal owners buy things for their animals.

Other Cites:

Insights Team. 4 Critical stages of your new market segmentation plan. Retrieved from https://www.customermonitor.com/blog/the-4-critical-stages-of-your-market-segmentation-plan-checklist

Spacey, John. 18 Examples of a Market Segment. Retrieved from https://simplicable.com/new/market-segment