Sneaker Segmentation Case Study
The segmentation will be based on the company objective to obtain profitable sales by providing a specialized product – the “Active1” – in the sneaker industry. Also, the company objective considers the SWOT analysis that determines our firm’s current situation in the market. The strength of the company lies in our expertise knowledge from creating an unprecedented sneaker. For that reason, it can match the opportunity of reaching a new segment of the sneaker market that has no direct competition. However, the primary weakness of the firm stems from its lack of variety in its product line because our firm only caters to a specific age demographic. Moreover, an interior weakness that may be exposed to an exterior threat is the idea of major
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These males are to have a net income of at least 60 thousand dollars a year. Furthermore, race, education level, and marital status are not relevant factors for our segment group. The geographic components of our segment group consist of males who are living in Canada. The psychographic aspects include males with personalities that embrace self-concept and that are health-and-fitness-conscious. Benefit segmentation is applied to individuals in our segment. VeteranCore is using a concentrated niche market targeting strategy to target older males specifically (Grewal et al., 2015, p.186). In terms of positioning, VeteranCore is applying a differentiation strategy as we are providing basketball sneakers for a segment and target group that no another competitor in the sneaker industry has targeted (Grewal et al.,2015, p.192). VeteranCore will assure to the older demographic that they will be equipped with a sneaker that is positioned with methods such as value, product attributes, and benefits (Grewal et al., 2015, p.190). Moreover, the positioning or the “Active 1” is to represent the revival of passion for becoming active by playing basketball, our firm can accomplish this by creating value to the customer, by providing a premium product for a premium price, and that is the price will be set the average market price of $140 and will be stated at
These males are to have a net income of at least 60 thousand dollars a year. Furthermore, race, education level, and marital status are not relevant factors for our segment group. The geographic components of our segment group consist of males who are living in Canada. The psychographic aspects include males with personalities that embrace self-concept and that are health-and-fitness-conscious. Benefit segmentation is applied to individuals in our segment. VeteranCore is using a concentrated niche market targeting strategy to target older males specifically (Grewal et al., 2015, p.186). In terms of positioning, VeteranCore is applying a differentiation strategy as we are providing basketball sneakers for a segment and target group that no another competitor in the sneaker industry has targeted (Grewal et al.,2015, p.192). VeteranCore will assure to the older demographic that they will be equipped with a sneaker that is positioned with methods such as value, product attributes, and benefits (Grewal et al., 2015, p.190). Moreover, the positioning or the “Active 1” is to represent the revival of passion for becoming active by playing basketball, our firm can accomplish this by creating value to the customer, by providing a premium product for a premium price, and that is the price will be set the average market price of $140 and will be stated at