Marketing and Customer
Megan Sedlacek
Marketing
Unit 4 Assignment
1. As a marketing consultant for a chain of hair salons, you have been asked to evaluate the kids’ market as a potential segment for the chain to target. Evaluate the kids’ segment against the four criteria for successful market segmentation. * Substantiality: Is the kids’ group large enough to warrant developing and maintaining a special marketing mix? I think so. However, there is a challenge finding the right size or balance. If the kids’ group is too large in one region, there is a risk of diluting effectiveness, and if the group becomes too small, the company will lose the benefits of economies of scale. There are often very large customers that provide a large portion of a suppliers business. These single customers are sometimes distinctive enough to justify constituting a segment on their own. This variable should be relevant to a substantial group of customers, such as parents who have children. * Identifiability and measurability: Is the kids’ market large enough to be identifiable and measurable? Yes, with the population booming, however it’s almost impossible to get accurate strategic data on a number of customers. The best idea would be to use more persuasive methods while gaining clientele that compensates for the gap of accurate data measurement. * Accessibility: Is there a way to market and reach members of other targeted segments? There are several variables to consider when marketing to both a largely populated area with competition and low population areas that may not have as much competition. You may be able to reach the attention of kids’ and parents by marketing low cost haircuts and other services that they may be looking for. In a kids’ group, the only service you are probably going to supply is haircuts, so to combine a haircut sale with something that a parent might be looking for at a low cost, you are probably going to gain their
Marketing
Unit 4 Assignment
1. As a marketing consultant for a chain of hair salons, you have been asked to evaluate the kids’ market as a potential segment for the chain to target. Evaluate the kids’ segment against the four criteria for successful market segmentation. * Substantiality: Is the kids’ group large enough to warrant developing and maintaining a special marketing mix? I think so. However, there is a challenge finding the right size or balance. If the kids’ group is too large in one region, there is a risk of diluting effectiveness, and if the group becomes too small, the company will lose the benefits of economies of scale. There are often very large customers that provide a large portion of a suppliers business. These single customers are sometimes distinctive enough to justify constituting a segment on their own. This variable should be relevant to a substantial group of customers, such as parents who have children. * Identifiability and measurability: Is the kids’ market large enough to be identifiable and measurable? Yes, with the population booming, however it’s almost impossible to get accurate strategic data on a number of customers. The best idea would be to use more persuasive methods while gaining clientele that compensates for the gap of accurate data measurement. * Accessibility: Is there a way to market and reach members of other targeted segments? There are several variables to consider when marketing to both a largely populated area with competition and low population areas that may not have as much competition. You may be able to reach the attention of kids’ and parents by marketing low cost haircuts and other services that they may be looking for. In a kids’ group, the only service you are probably going to supply is haircuts, so to combine a haircut sale with something that a parent might be looking for at a low cost, you are probably going to gain their