There are certain criteria’s for market segmentation like it must be wide enough to acquire high profit margins, should be measurable, needs to stable, enables reaching out to potential customers, internally homogeneous, externally heterogeneous, responds efficiently to market stimulus, supports while framing decisions related to marketing mix, defines target market and provides data for formulating positioning statement (Simerson, 2011). The consumer markets can be segmented on basis of geographic segmentation, behavioral segmentation, and psychographic segmentation, segmentation by benefits, cultural segmentation and multi-variable account segmentation. Geographic segmentation is related to dividing entire market on basis of nations, regions, states, cities, neighborhoods, countries and postal codes. Demographic segmentation is executed with the support of variables like gender, occupation, education level and age. Behavioral segmentation is used to divide consumers according to attitude, response, usage rate, knowledge, readiness stage, loyalty status, etc. Psychographic segmentation is also at times called lifestyle. This is basically measured through opinions, activities and interests of customers. In European market, market segmentation of A&F brand should be done on basis of demographic and psychographic segmentation (Wintzer, 2007) The combination of these two segmentation measures would enable the company to target appropriate consumer market. A&F brand is focused towards highlighting current fashionable items like clothes and accessories. The market segment for the brand is individuals belonging to age group of 10 years to 22 years old. As per the brand, customer lifestyle needs to be that of upper middle income group or high level income segment. These customers are brand conscious and are easily adaptable to changing fashion trends in the market place. It is essential for all companies to firstly analyze problems prevailing in target segment and develop solutions to address them.Target market problems can be of varied nature and it is difficult to standardize products for this market segment. The target market for A&F brand is teenagers inclined towards fashionable clothing and accessories. It can be stated that those individuals are targeted who prefers to visit stores which offers best ambience along with wide range of fashion collection.The suitable
Alba, J.W. and Hutchinson, J.W., 2008. Dimensions of consumer expertise. Journal of Consumer Research, 24(3), pp. 411-454.
Batey, M., 2012. Brand meaning. USA: Psychology Press.
Bruner, G.C., 2007. Music, mood, and marketing. Journal of Marketing, 64(8), pp. 94-104.
Cheverton, P., 2005. Key marketing skills: strategies, tools and techniques for marketing success. Great Britain: Kogan Page Publishers.
Churchill, G., 2009. A paradigm for developing better measures of marketing constructs. Journal of Marketing Research, 25(4), pp. 98-116.
Fill, C., 2013. Marketing communications: brands, experiences and participation, 6th edition. Harlow: Pearson Education.
Fill, C., Hughes, G. and Francesco, S., 2013. Advertising, strategy, creativity and media. USA: Pearson.
Henry, A., 2011. Understanding strategic management. New York: Oxford University Press.
Lasserre, P., 2012. Global strategic management. Singapore: Palgrave Macmillan.
Simerson, B.K., 2011. Strategic planning: a practical guide to strategy formulation and execution. USA: ABC-CLIO.
Wintzer, E., 2007. Global competition and strategic management. Germany: GRIN Verlag.
Please type your essay title, choose your document type, enter your email and we send you essay samples