4.1 Segmentation and Targeting strategy
The segmentation of a market is basically divided the market into similar segments or parts. There are different basis of segmentation these basis are based on different characteristics. The bases of segmentation are listed below:
Demographics: Age, household income, sex and etc are included in this.
Psychographics: Personality, lifestyles, attitudes and etc are included in this.
Geography: The location of the people is included in this group (Kotler, 2008).
The segmentation strategy that would be adopted by this brand would be based on demographics and psychographics. The demographical segmentation would be based on age and house hold income. Similarly, the psychographic segmentation is based on the attitudes of the people that those who are concerned about health issues are targeted.
4.2 Target Market
The target is based upon different segments of the market and it’s a chunk of individuals from a larger population. After the target market is selected an organization can develop its marketing strategy on that (Kerin & Hartley, 2008). The target market that is selected by RPG Corporation for its brand Relaxoplex contains adults that are aged about 40 and who belong to upper middle or upper class. The savings of these individuals are more than $2,000 and they are more concerned about health related issues.
Positioning is considered as an important element for organizations and it is widely used in the marketing strategy or organizations. The core concept of positioning is that what does the customers feels about a certain brand and what image does he posses about a certain brand (Trout & Ries, 2000).
“Relaxoplex is a massager for people who are 40 and above and it is massager that is meant for the relaxation of foot and calves, it’s the only massager that has no side effects like other massagers”
The two core differences of the products are discussed below and the positioning map is discussed in the appendix.
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