Identifying Market Segments
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How does the Honda Corporation define and identify its market segments? What positioning strategy does the Honda Corporation use with those segments?
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The expert determines how Honda Corporation defines the identifies its market segments. The positioning strategy Honda Corporation uses for segments are determined.
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Honda Corporation Market Segments and Positioning strategy:
The Honda Corporations market segments are mainly determined by the various products that the company produces. The company has four product segments which are automotive, motorcycle, financial services and power products. In its automotive product segment, the company has segmented its market segment into Accord, CRV, civic and city vehicles in such a way that Accord and CRV is for the Elite class, Honda Civic is meant for the upper middle class and Honda City is for the middle class (Honda Annual Report 2010; Honda Form 10-K, 2010). Its target market in automotive segment is basically the upper class groups, upper middle class and middle class aged between 25-45 years. For instance the Civic 2.0S targets ...
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