- In the case study article, what market segments were identified and what segmentation strategies were implemented? Under Armour is known for the success in athletic men’s apparel. In 2013 the brand expanded to shorts, shoes and hats. Under Armour remained very competitive with Nike and Adidas in the men’s athletic market. In 2016 they had the opportunity to market women’s athletic apparel for UVA. Their marketing and advertising focused on showcasing technical apparel as innovative and modern. In 2014, they launched a campaign “I Will What I Want” in am attempt to target women in the market segment. The campaign was a huge success, generating over $15 million. This was the biggest campaign they have ever launched. The campaign was meant to target women through motivation and inspiration.
- What do you believe are four to five key points to remember when implementing segmentation strategies? 1. Analyze what channels are used by target audience and utilize them to maximize target exposure. 2. Understand and capitalize the characteristics that make the product stand out from other competitors. 3. Analyze industry competitors and their strategies. 4. Have full understanding of who the target demographic is to include behaviors, interest and trends.
- Identify a new market segment that you have noticed recently (during your own shopping experience online, in a commercial ad, or in a secondary resource such as a magazine) that you believe would be a great market to explore. How might you create a segmentation strategy to reach this new market segment? A market segment I have noticed is all of the different ads that pop up throughout social media sites such as Facebook, Instagram and Twitter. There are many different companies that use the apps to help promote new products or help promote local businesses based on what you have searched for in the past as well as the location you’re in. A segmentation strategy I would use is the consumers search history, which is essentially what Facebook does. They take what you have searched for and put in a few options based on your location, what you’re looking for, etc. Based on whatever product is being searched for, determining the main age group for this would help to aim towards that group for the business to gain more customers. Then, it would add more of a ‘push’, if you will for the local business and get the consumers to visit the suggested business in the future.
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MKT -345 Consumer Behavior 