Segmentation and Target Market Paper Essay

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Market segmentation is described as “the technique of defining and subdividing a large homogenous, industry into clearly identifiable sections having similar needs, desires, or require characteristics.

It’s objective is to design a marketing mix that precisely has the exact expectation in the customers inside the targeted segment” (Business Book, 2010). This week’s task asked the student to select a business and look at that organization’s characteristics intended for market segmentation. Included is usually the placing statement regarding the company’s brand. As described above, market segmentation allows organizations to categorize the customer into little groups based upon different qualities. These qualities are behavioral, demographical, psychographic, and physical segmentation or perhaps differences.

Every consumers are not really created equal. People are different in lots of ways but simply by classifying comparable desires or perhaps wants of shoppers a marketplace is created. Market segmentation allows organizations to better understand the buyer and enables the consumer to get better knowledgeable or informed regarding a particular organization’s goods (Mangement Research Guide, 2013). Mary Kay Cosmetics Set up in 1963 with just five thousand dollars, Mary Kay Ash and her kid, Richard, Mary Kay Makeup was formed.

Founded on the Jane Kay’s faith based beliefs and belief that women’s lives needed to be fabulous, this company grew to become one of today’s top Lot of money 500 firms. “Fortune mag recognized the company as one of The 95 Best Corporations to Improve in America and also named Martha Kay Incorporation. one of the best corporations for women” and “with more than 2 . 5 , 000, 000 independent natural beauty consultants in more than 35 markets around the world, the company continue to be one of the greatest successes in business” (Mary Kay Inc., Unknown). Mary Kay’s direct selling to its consultants and to buyers has allowed Martha Kay to turn into a major competitive force in the cosmetics sector.

Mary Kay focuses on skincare for the whole body system, make up, fragrances, and sunshine care. Demographically, Mary Kay focuses on women ages 25-55 years old and teenagers old 14 and above. This organization also provides items for men. Geographically, Mary Kay is available in the us, Canada and 30+ different countries throughout the world.

Online revenue make this organization successful whilst allowing the customer to shop easy. “Because Jane Kay techniques direct selling, building a dedicated consumer basic is a essential factor in identifying financial success” (UK Documents, 2013). Since all on the net sales happen to be directed back to the local sales team, this allows intended for consultants to generate his or her customer base easily, building a win-win scenario for all get-togethers. Mary Kay’s psychographic segmentation does not particularly gear by itself to any particular social course, lifestyle, or personality. The organization does concentrate on allowing girls to try products inside the comfort of one’s house.

The primary concentrate of the Mary Kay is that girls have confidence that her pores and skin is looking and feeling good inside and out, that leads the women to feel comfortable in their personal and specialist lives. Often women will certainly book Martha Kay makeovers for holidays such as graduations or marriages. Since Martha Kay provides a complete repayment on their top quality products, ladies have the confidence in the products readily available.

Typically, a normal in-home school will incorporate six women. The theory in back of this is that “two ladies will be unaware of the product and probably will not really purchase item, two girls will be educated and ready to get a few items, and finally two women will certainly buy whatever products they will want” (Summerer, 2014). Martha Kay’s marketing mix enables the independent consultant to advise every single customer of his or her skin type and what product will best suit that consumer’s requires. The company’s direct sales likewise allows for the customer to receive door-to-door delivery and customized support. “One from the goals of Mary Kay attempts to achieve when costs their products is to fill their makeup bags without emptying their wallets” (UK Works, 2013).

Jane Kay accesses advertising by simply word of mouth and relationships created by the advisor and the customer bases. Also through community service programs and advertising, allows for a lot more inexpensive marketing versus typical advertising methods such as advertisements and print ads. Placement Statement Jane Kay provides stayed faithful to its company’s statement in “enriching women’s lives” through supporting ladies who needed self confidence and providing opportunities to get enriching lives through monetary opportunities to build their own businesses.

The organization will certainly continue this kind of philosophy down the road. Future progress is possible by focusing on men’s skin care needs and having a stronger man consumer bottom. Mary Kay’s direct offering approach allows for the organization to hold costs little by not hosting selling locations and provides the consultants’ incentives that allow growth in the local location.

A few clashes do happen from the current advertising technique of Martha Kay. While discussed above, the company must look for various other avenues pertaining to sales somewhat repeat business. Expanding the customer base to include more guy customers is one way to assist through this process.

The marketing and advertising departments of Mary Kay must be aware and centering on how to increase their revenue base. Being a successful makeup company, Jane Kay provides reasonably priced skin care and makeup products to females all over the world. The normal consumer can be described as women between the age of twenty-five to 5 decades old. When Mary Kay does not focus on any particular demographic or perhaps income status, women may purchase this manufacturer product line.

Expansion possibilities should give attention to creating much larger male skin care and other products.

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