Target Market of Holden Monaro
The Holden Monaro is a coupe sports car in the line of HSV, or Holden Sports Vehicles, made by its namesake Australian company. The car comes in a couple different specifications, but the engine is always either a V6 or a V8, making it a powerful and fast vehicle. The original Monaro was created in 1968 with different “species” of car throughout the next three years. The second generation of Holden Monaros was begun in 1971, which changed the body design of the car completely as well as made the V6 engine no longer an option. The 1970’s Monaro was definitely a muscle car, though over the years until 1977 the vehicle became more of a luxury sedan instead of the hard muscle it had begun with. The Monaro was finally reborn in the 2000’s and did very well in the Australian marketplace. There were a couple of reasons for the public interest in this vehicle, and much of it had to do with how the car was positioned in the marketplace. What exactly where the target market segments? Well the most likely market segment would be the demographic segment of men between the age of 30 and all the way up to 65. These men would certainly have to be wealthy, seeing as the base price for a Monaro was roughly $60,000. These men would enjoy driving fast and powerful sports cars and would enjoy the effect that the car had on their reputation and status. Another possible market segment could be younger men, probably tradesmen of some sort, who have a lot of expendable money and who might be adrenaline chasers or “hoons”. These younger men would probably also enjoy driving fast and would revel in the power of a V8 engine. The positioning of the Monaro in the marketplace would have meant that Holden tailor their entire marketing scheme to the market segment that they wanted to sell to. This would mean they would have to make the car look sleek and fast, which is perhaps why you see a lot of red or yellow models because these colours stand out, they are bold. The price had to be
References: Wikipedia, RSSportsCars.com.au, HSV.com.au