Segmentation - SMC Millennium
Not what you're looking for?
What is segmentation? Identify the segmentation criteria that will impact your target market selection. Identify your target market.
a. Segmentation Criteria
b. Target Market Selection
The above info needs to be at least a 400 word description. Our product is a Hybrid SUV, we named the Millennium. The overview is below, to give you information on our company and product.
SMC Overview
Simple Motor Car (SMC) Company is in business to produce automobiles that cater to consumers that want economical, reliable, and fuel efficient transportation. To achieve this end, SMC produces automobiles using the latest in hybrid engine technology and lightweight materials, while eliminating power consuming accessories. This methodology enables SMC Company to build automobiles that achieve twice the energy efficiency of our closest competitor without sacrificing safety and style. SMC Company is committed to providing smart, safe transportation that is friendly to the environment and your wallet.
SMC Company is headquartered in Gary, Indiana with additional manufacturing plants in Cleveland, Ohio and Galveston, Texas. We recently open up our first two international manufacturing plants in Dasseldorf, Germany and Melbourne, Australia. SMC Company has partnerships with parts suppliers and design firms in many different countries making us a truly global company. Our partnership with automobile design companies such as Porsche, Ferrari, and Daimler-Benz assures us of cutting edge automobile designs. Our partnerships with firms including Toyota and Honda provide us with the latest in hybrid engine technology. By leveraging these partnerships, SMC has been able to capture a niche market of consumers without directly competing with our partners. This has resulted in a profitable and long lasting relationship for all.
The SMC Millennium
SMC's new SUV will be named the Millennium.
Purchase this Solution
Solution Summary
The market segmentation for a hybrid SUV is provided in this 671 word solution, including three bases for customer segmentation.
Solution Preview
The company's SUV is primarily designed for those who are conscious of the running cost on fuel and need a vehicle that is very economical in terms of fuel efficiency and running costs.
There are generally three bases for customer segmentation:
1) Customer based segmentation: This segmentation is primarily done on the basis of various characteristics such as geographical location of people, demographic characteristics, Psychographic variables such as personality and life style differences, attitude towards risk taking, etc. Buyer readiness is another variable which is used in such types of segmentation.
As far as geographical location is concerned, the company has to identify via market surveys whether people in rural areas are more cost conscious about fuel savings or people in urban areas are. This can be done by asking questions in the survey such as average miles traveled per day for work, average spending on fuel per month, percentage of earnings spent on travelling, etc. This will ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Operations Management
This quiz tests a student's knowledge about Operations Management
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Motivation
This tests some key elements of major motivation theories.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.