Market Segmentation
Segmentation and Target Market Paper Student’s Name:
Institution:
Segmentation and Target Market Paper
This paper explores the segmentation, target market and product positioning of a company. The company of choice is BMW and its medium-size car BMW 3 series offered to a broad consumer market. When undertaking market segmentation, BMW does research on the geographic, demographic, behavioral, socioeconomic, as well as beneficial attributes of the society so as to help the company target the market in more effective manner. The demographics of consumers with potential to purchase a BMW product are often men and women aged between 30-50 years. Behaviorally, these demographics of people usually would have formed a successful image in the mind prior to purchasing a car. Geographically, Europe and North America represent the strong markets for BMW Company, with more than 65% of sales due to the industrialization and thus residents are financially positioned to purchase their car models.
Market Segmentation of BMW
Geographical Segmentation
Geographic segmentation entails categorizing the market into varied geographical units i.e. nation, state, city, region, county, or neighborhood. Ordinary, selling cars is more important than where the company sells its cars. The geographical segmentation depends on the legislative limitations that vary from country to country (Kelly & McGowen, 2011). Aspects pertaining to such factors as living density or city sized become more significant for a company to reach the widest customer shift as possible. Thus geographical segmentation is an important marketing strategy for BMW as a global automaker.
The main markets for BMW and their BMW 3 series are the United States and Europe. Generally, BMW’s retail stores are often located in upper classes’ geographic regions. The strategy of the company is to inform customers that they are a luxury car manufacturer and that their brand and quality qualify to be there. These are market
Institution:
Segmentation and Target Market Paper
This paper explores the segmentation, target market and product positioning of a company. The company of choice is BMW and its medium-size car BMW 3 series offered to a broad consumer market. When undertaking market segmentation, BMW does research on the geographic, demographic, behavioral, socioeconomic, as well as beneficial attributes of the society so as to help the company target the market in more effective manner. The demographics of consumers with potential to purchase a BMW product are often men and women aged between 30-50 years. Behaviorally, these demographics of people usually would have formed a successful image in the mind prior to purchasing a car. Geographically, Europe and North America represent the strong markets for BMW Company, with more than 65% of sales due to the industrialization and thus residents are financially positioned to purchase their car models.
Market Segmentation of BMW
Geographical Segmentation
Geographic segmentation entails categorizing the market into varied geographical units i.e. nation, state, city, region, county, or neighborhood. Ordinary, selling cars is more important than where the company sells its cars. The geographical segmentation depends on the legislative limitations that vary from country to country (Kelly & McGowen, 2011). Aspects pertaining to such factors as living density or city sized become more significant for a company to reach the widest customer shift as possible. Thus geographical segmentation is an important marketing strategy for BMW as a global automaker.
The main markets for BMW and their BMW 3 series are the United States and Europe. Generally, BMW’s retail stores are often located in upper classes’ geographic regions. The strategy of the company is to inform customers that they are a luxury car manufacturer and that their brand and quality qualify to be there. These are market