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Identifying Segmentation Strategies
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Abstract This report mainly focuses on the AHBAI website, promoting their Proud Lady hair care and beauty products and merchandise. Their main focus is on the large Black Community within the US, but they are also starting to go abroad as well. They provide job opportunities, scholarships and training within the desired industry and are a thriving association in representation of Black-owned manufacturing companies. Their segmentation variables reflect on how they selected their target market and also how they had decided to communicate to their product and service to their target audience. Introduction Marketing is much more involved than just the business of selling and advertising of products and services. Of course it is the main aspect of marketing, but it does branch out to many different areas of processing before a product or service are ready to be presented to the consumers. There has to be a need or want for a product or service before it is established and then it is to be designed in order to satisfy the audience. However, the total market consists of a large population therefore there must be further research to be carried out, as a means to select the potential market and this is where segmentation occurs. Once all the characteristics have been identified through segmentation, a target market is achieved where those consumers with similar needs in relation to the product or service, are grouped. The next step in this process is the communication medium of which the marketer would choose that would be effective in getting the message of the product or service, across to the target audience. A growing communication medium includes the Internet where it is easily accessible to the market. This report identifies a company’s website and how effective it is reaching its target market. Beginning from the determination of their segmentation objectives to their target market, and identifying their communication objectives. The company that will be in focus for this particular report is the American Health and Beauty Aids Institute (AHBAI), the trade company in association with The Proud Lady beauty products. AHBAI is an internationally renowned trade association representing the world’s leading Black-owned companies that manufacture ethnic hair care and beauty related products featuring the Proud Lady Symbol. Segmentation All products and services rely on the use of market segmentation for appropriate advertising purposes and it can be seen as a vital management tool. Schiffman defines market segmentation as the process of dividing a market into distinct subsets of consumers with common needs and characteristics and selecting one or more segments to target with a distinct marketing mix (2001, pg. 54). Hawkins view of segmentation involves in the development of specific marketing programs targeted at consumer groups with unique needs and/or purchasing processes (1994, pg. 9). Since companies vary between what they can offer to their markets, segmentation has been proven to be efficient and effective in regards to selecting and serving their segment of the market, in which they can provide the best service within that segment. Market segmentation also allows marketers of consumer goods and services identify the needs of the market and can usually provide the marketer with the opportunity to expand their target market or enter a new market to satisfy more effectively the specific needs or wants of particular consumers (Schiffman, Bednall, Cowley, O’Cass, Watson, Kanuk 2001, pg. 55). It shows that this is an effective practice rather than aiming at all potential customers and taking other competition head on, companies secure themselves by targeting a section of that market and specialising in features that appeal to their consumers (Poulos, M.
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