Market segmentation is defined as a form of separating a market of potential consumers into segments, or groups, depending on several divergent characteristics. Established segments comprise of customers who need to react in accordance withthe applied strategies of marketing and who have similar traits. For instance, interests, needs and locations. Market segmentation assists the marketers to personalize the marketing campaigns — the enterprise’s aim segmented groups, instead of targeting each potential customer personally. The market segmentation assists marketers in saving money, time efficiency, and other resources, rather than targeting customers on a personal level. The aspect of grouping similar clients together with enables marketers to target cost-effective audiences. Market segmentation also mitigates the risk of an unsuccessful campaign. As the marketer divides the market depending on main characteristics and personalizes their marketing strategies depending on that particular information (Kitunen at el, 2019), there is a high likelihood of success than if they were done through the general marketing campaign and attempt to make it actualize it across all marketing segments. The marketers may also utilize segmentation to make their target audinces more attractive. For instance, if the segmentation reveals that individual consumers are more likely to purchase a product than others, the marketer opts to distribute their resources and attention.
There exists four different types of market segmentation which are mainly used. They includegeographical, demographic, psychographic and behavioral segmentation. The increase of customer population and preferences as well as the availability of the competitive options, marketing segmentation has become crucial in the marketing plan. Demographic segmentation splits a population intomany divisions based on specific variables. Demographic segmentation has its variables such as gender, age, family size, religion, income, occupation, nationality, and race. People in the same age, life cycle stages, income, and gender, are likely to have the same interest. Therefore, it can be used for market segmentation. Behavioral segmentation splits based on the patterns of usage, behavior and decision making. The psychographic segmentation usually utilizes other people’s lifestyles, interests, opinions and their activities to make up a market segment (Chen &Gassner, 2012). The geographic segmentation splits based on their location. The consumers always have different needs based on their location.
Total Product Concept Model
Whole product concept means the package of services given by a service or product. Customers usually benefit psychologically and health wise through the use of the product. They also save time by using online shopping to purchase the product and also through after-sales services offered by the manufacturer. Customers use the whole product concept to distinguish and evaluate the products; benefits between many different brands. This makes customers to choose a suitable product that provides value for the capital spent. Because of these reasons, the organization uses total products concept to make their products different from their competitors as well as creating a special position in the market for them (Hänninen&Kauranen, 2006).
The total model is analyzed using four different levels which include the basic core, which is the package of the functionality benefits. The fundamental core entails all accrued benefits that the organization promises to offer. The accessory ring has added value benefits which haven’t been received yet nor paid for. These are the benefits which are given to customers as added value services separate from the assured main services. The enterprises depend on these benefits to create a competitive edge over their cpmpetitors by differentiating their products. Psychology ring is created by benefits resulting from client’s feeling connected with using the product. It entails all the thoughts and emotions of a client concerning the using or ownership of the product (Warren, Rhodes& Carter, 2001). This usually differs from client to client. Therefore it might be complicated to get it as there analysis of customer’s minds to get information. Time saved when service or products are purchased, which can be harmful or useful. This is concerned with the time used when buying and using the product. These kinds of benefits can be a crucial factor for consumers who are highly engaged in life.
Successful Immigrants and Status Matter’s Groups Needs and Wants
The successful immigrants contain young people, and they are literate in terms of technology. Their lifestyle is much oriented on the technology advancements, and they have buying power. The young people and mid families are in one market segmentation of the use of wireless headphones. The group is also consolidating on the same geographical location. The group have a steady source of income and have everyday behavioral activities in terms of their wireless headphones usage. Hence they have the same decision making pattern. The group requires entertaining products, technology products, and wireless headphones to listen to music and video in their social lives (Reisinger, 2016). The group requires facilities that maintain silent due to their academics and connection to social life through wireless headphones. The group is conversant with most of the technology products because of their literacy levels.
Status matter’s group is well educated and digital-oriented; they are in one geographical region. This group use the wireless headphone with their smartphones to shop and to get alerts about the new fashion cloths available in the market. The group has the same status of high earning and career-oriented group. This group has the same interests and also they have the product buying power. The group has the same behavioral characteristics which means they have similar wireless phone usage, behavior and decision making pattern. The group has the same lifestyle of people, interests, activities as well as opinions of the products they buy. The group requires a way to digitally connect and means of communication to their families and the digital market. The group also require unique products that are identified to their status and this calls for wireless headphones instead of wired headphones.
Both successful immigrants and status matter’s of the groups have young professionals who have high income and are willing to spend on buying products. The group has young people who would like to monitor the market of fashion products; hence they are likely to adopt wireless phone. The groups have people who are proactive in social sites, reading and reviews. The wireless headphones demand usually rise because the group has smartphones that have features that can be connected with wireless headphones. The digital wireless headphones have both noise canceling and sound quality (Research&Markets, 2019). The wireless headphones come with integrated volume, call, and playback controls. They have dedicated smart assistant button, which is used to cycle via the model’s variable noise canceling function and can let in less or more ambient sound. The ear cups usually spin flat to ease storage, and wireless headphones come with a carrying case.
Wiressless Headphones Attributes
The wireless headphones are not cheap; nevertheless, they have great budget options. Their price is worth it because they will provide fantastic noise canceling ability and high sound quality features. The wireless headphone will provide artificial intelligence to incorporate digital assistance, music playback and calls. The wireless headphones will provide water resistant features.The wireless headphones will enhance novel charging function as well as charging case that has a built-in battery that can recharge the earphones twice. The wireless headphones will save users from the curbersome problem of wired headphones. These attributes will have customer psychological satisfactions, provides satisfactory services , and benefits accrued to the money spent to buy the product. The product is available in the online market to save time spent in buying the product.
The successful immigrant group groups have significant disposable incomes which significantly propel the sales of wireless headphones in the market. Most organizations accept the use of wireless headphones in the offices, and this has increased the demand for the product. The group is characterized by demands and technology competition innovations, which have made the wireless headphones technologies to put more emphasis on wireless connectivity, good noise canceling functionality as well as sound quality. The wireless headphones are feature-oriented products with ease of use. The status matter’s group have many electronic entertaining products that might be in use of Wi-Fi that might facilitate the demand for wireless headphones (PR Newswire, 2019). Wireless headphones have innovative features that attract consumers. They are excellent user-friendly and extensively used for public safety, travelers and commuter. The wireless phone has secured the willingness to buy through adding value by additional services and use features such as Google assistance. The wireless headphone innovation through fitness attracts most of the young people in this group.
The Wireless Headphones Demand in the Successful Immigrants and Status Matter’s Group.
The successful immigrant’s group will buy wireless headphones because of their lifestyle in technology advancement. They are also literate as well as the use of Smartphone that has wireless headphones extended features. The same geographic factors of the group may influence it to buy wireless headphones. The group entails teenagers and middle age people who have interest in music, and this will result to demand wireless headphones that provide quality sounds. The status matter’s group is professions oriented and have the financial stability that enables them to buy smartphones and other electronic devices that may require wireless headphones to listen to music. The Google assistance of wireless headphones can attract the group since they are digitally connected. The professional group usually like quite an environment, and this attracts the need for wireless headphones that are not cumbersome to carry and have excellent services satisfaction. This group likes to be associated with class products to maintain the social class and well as a feeling of satisfaction through the use of the technological features provided by the wireless headphones technologies. The market segmentation helps to sell the wireless headphones since it is easy to establish the market and able to deal with the customers than individual level. The wireless headphones have services that satisfy the groups’ needs as well as compatibility with most the exciting electronic products the groups possess.
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PR Newswire. (2019, February 21). The global earphones and headphones market is projected to reach values of more than $36 billion by 2024. PR Newswire US. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bwh&AN=201902211711PR.N EWS.USPR.SP61106&site=ehost-live
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