17 Oct customized marketing
Respond to…
The different levels of market segmentation that exist are mass, segment, niche, and customized marketing. Mass marketing is the broadest form of marketing and does not differentiate between consumers. Narrowing down farther as the levels of marketing segmentation narrows, customized marketing treatise each consumer as an individual segment and markets to them as such.
The segment strategies that manufacturers of personal computers should implement to attract the Gen Y and Baby Boomer generations are Mass and Segment marketing. Mass marketing allows companies to appeal to a broader audience; all of whom need a form of a personal computer, whether that be a mobile device, laptop, tablet or desktop computer. As you narrow in further on the segment of marketing used, segment marketing allows manufacturers to market their products to Gen Y and Baby Boomers in a differentiated manner. An example of Apple appealing to the Baby Boomer generation is through their Tech program. This program allows consumers to purchase an Apple product, sign up for lessons to help them use their product, and the confidence that if anything goes wrong that is outside of their control, the Apple Genius Bar is available to them at their convenience. This same example can be applied across generational lines, but is most frequently used, from my experience, by those in the Gen Y and Baby Boomer generations.
Other examples of companies that I believe market well to Gen Y and the Baby Boomers are Facebook, AAA and Costco.
Respond to…
Market segmentation allows a company to acclimatize their products to the specific needs of various target markets. The levels of this market segmentation include mass marketing, segment marketing, niche marketing, and customized marketing (Finch, 2012). In mass marketing, a product such as bottled water can be marketed to every consumer since it is such a universal product across all potential buyers. Segment marketing targets specific groups of likely buyers such as the brand Nike who targets those involved in athletics. In niche marketing, products are more specifically focused on the brand or service it can provide. An example of this is the recent popularity of salons that focus on blow out styles versus traditional haircuts. This caters to a specific group of predominately females who prefer to wear straight and trendy hairstyles. The last level of market segmentation is customized marketing. Customized marketing characterizes the most individualistic method by uniquely focusing on specific buyers. An example of a company geared toward customized marketing is StitchFix.com which advertises as providing hand selected wardrobes based on user fit, size, need, and style.
When marketing personal computers to Generation Y, manufacturers need to understand that this group pays attention to more technological advertising and they will expect computers to be quicker, more personalized, and a brand they can recognize. Marketing computers to baby boomers should avoid texting, slang (abbreviations). This group need transparency about the benefits of the product without having to maneuver around multiple searches for product information. This generation is not prone to select products based on social media. Since they have grown up with no cell phones and vast internet options, they likely prefer in person interactions.
I think most companies providing a universal product do a good job at marketing their products across generations. Car manufacturers do not want to be categorized into one age segment and do well at keeping advertising that can relate to all age groups. An example of this is Subaru which show its vehicles being purchased by young up and coming individuals and keeping the vehicle throughout their life by showing the different stages of life they go through. Cellular companies also fair well at advertising and providing products from the most technological proficient individuals to easy to use, yet smart choices for those individuals that want simplicity yet sophisticated technology.
Finch, J. (2012). Managerial Marketing. Retrieved from https://ashford.content.edu. (Links to an external site.)Links to an external site.
Respond to…
**What are the different levels of market segmentation?
Companies depend on market segmentation because it helps the processes and strategy in which the whole marketplace of a product is divided into smaller sections or subcategories (Finch, 2012).
The different levels of marketing segmentation are Mass marketing, Segment marketing, Niche marketing, and Customized marketing. Mass marketing relates to a bigger audience without any distinction between potential buyers. Segment marketing applies to a particular group of consumers, which has a smaller focus than that of mass marketing. A good example of this is Apple, they have products designed for all types of customers, like cell phones, headphones, computers, and IPad. Niche marketing constricts to a target audience even further than segment marketing. Niche marketing level is also called micromarketing, and in this customer level tailored marketing pursue each prospective customer individually, such as in one-of-a-kind items. A good example of this would is craft beer and skinny alcoholic drinks, and gluten-free products because of food allergies. Market segmentation is also known as concentration marketing and this market normally has fewer direct competition. A great example is the same owner of Old Navy, Navy, Banana Republic and GAP. All three brands have similar/same clothing type, but; they are marketing towards diverse social economical classes. Wholesalers provide custom-made merchandise to fit the shopper specific wants and needs (Finch, 2012). ). Cars models like Ferraris’, Maserati’s’, Bugatti’s’, and Rolls Royce, are tailored for an exclusive elite or very small consumer line. These vehicles are made with specific details, handmade and customized to the purchaser’s needs.
**Synthesize the segmentation strategies that manufacturers of personal computers should implement to attract both the Gen Y and baby boomer generation to increase their purchases of computers.
As a market segment is created between generations, it is imperative to know the likenesses and differences between both generations. Though we tend to believe that baby boomers are not very tech savvy, this is not quite true. The strategy to implement must first understand the product related benefits to both generations, for computers, social media use must be taken into account, graphics software for video, photography, and drawing, and also a gaming. The personality and lifestyle of both Gen Y and Boomers must be considered and researched, and the marketing strategy must consider cost, price and the financial status of both type of customers; not too expensive that buyers won’t be able to afford it or be turned off. The two generations seek deals and discounts, this is why the computer manufactures should offer a rebate or instant discount off the MSRP. “Baby boomers and millennials share a love for coupons, sales, and bargains” (Post, 2015, p. 5). The final stage is selecting a market segmentation, such as going into a niche market that could slimmer down the focus and limit competition, normally we think of price cutting but no so. The need to provide low-cost computer can lure easily across generations (Finch, 2012).
**Are there some examples of companies that have already done a good job of marketing across generations?
An industry that seems to do a good job in marketing across generations is the cosmetic industry. Revlon Company still maintains its tradition of quality. This cosmetic company sells products for skin and hair care for both men and women in the 20 to 50-year-old age group. Men and women both use makeup these days and they have done a great job reaching through the year’s consumers that want to spend not excessively in skin care products Also, Harley-Davidson Company target both generations. This company undertakes a classic marketing approach. American biker’s baby boomers and the older generation continue to ride today, traditional cut bikes and also newer models and designs. This company has partnered with new generation shows such as Sons of Anarchy and the UFC to appeal to more millennial buyers. A
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