Marketing Management Assignment Example | Topics and Well Written Essays - 2500 words

Marketing Man maturatement - Assignment ExampleClustered securities industry might reveal distinct preference clusters, called natural market segments.Own brand with formulateable and price sensitive consumer who looks for more modern looking footwear but price conscious because short duration of styles, actively targeting people between historic period group of 35 to 45 years.(b). Marketers advocates a need based market cleavage approach. Robert J. Best (2000) proposed seven step shape and these are i. ineluctably-based section ii. Segment identification iii. Segment attractiveness iv. Segment profitability v. segment positioning vi. Segment Acid test vii. Marketing mix strategy. For effective segmentation process, the market segment must be i. Measurable ii. Substantial iii. Accessible iv. Differentiable v. Actionable.Now on the basis of above 5 parameters we would discuss Clarks segmentation process. Clarks market segment could be measurable. As we know that consumer expens e on footwear is increasing by 3.5% producing an additional GBP 166 million. Clarks brand is controlling 10% of consumer expenditure on footwear and over 30% of children shoe market. Targeted market segment of Clarks is comparatively and young affluent generation between age group of 18 to 30. This generation is fashion driven, ready to spend money and realize earning. They are looking for more modern designed, trendy, easy to wear, comfortable and stylish foot wears. This age group has the potential to buy as well as influence the other segments also. So Clarks segments are measurable. This market segment is substantial also. A boastful number of persons belong to this age group. They have similar kind of needs. They want to wear exclusive designs that have brand name also. Clark is known for its quality as well as for its brand name so when Clark has launched the specific products, which fulfilled the needs of, the new market segment, people tend to buy those products. This segm ent has been good accessible and Clark has reached to them effectively through advertising with catchy slogan via modern communication media i.e. through T.V and terrestrial and satellite channels. This young people between age 18 to 30 are easily distinguishable through their attitudes. The second segment, which Clark is targeting, is between age group of 35 to 45 who are fashion orient but more prices sensitive as well as also make decision while buying shoes for their children. So they are decision-makers also. They have the purchasing power and they are looking for style as well as comfort. These segments have different needs and requirements than any other segment. So no two segments could be mixed up. Finally Clark has formulated an effective integrated flexi communication strategy to attract its newly targeted segment, which is predominantly fashion orient. This fashion oriented affluent segment of younger people creates a major market potential in terms of buying practice s and tendency to do expanses on fashion oriented objects like footwear. So if we evaluate keeping in mind the different segments of Clark we could easily find that Clarks segmentation process is good but needs