Market Segmentation of Leather Jackets for Marks & Spencer

Desklib provides past papers and solved assignments. This report analyzes Marks & Spencer's market segmentation for leather jackets.

Marketing
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Table of Contents
Information of Product....................................................................................................................3
Primary market segmentation..........................................................................................................4
Secondary market segmentation......................................................................................................4
Tertiary market segmentation..........................................................................................................5
Segment as a Primary Target Market..............................................................................................7
References........................................................................................................................................8
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Information of Product
The product chosen for this assignment is the leather jacket which is manufactured by Marks &
Spencer. This leather jacket is specifically for the females and is qualities clothe which is formal
in style. These leather jackets are designed as per the specifications of the industry experts and
these are trendily employing the advanced machinery as well as the quality raw leather having a
great and smart look. The features of the jacket include the comfortable fitting, elegant patterns,
great stitching as well as the appealing colors. These leather jackets are specifically for the
working females which are included in the primary targets of such product.
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Primary market segmentation
Mark and Spencer is largest retailer organisation that offers high-quality products to customers in
different corners of the world. Marketing management of this organisation targets office people
as primary market segmentation to increase the level of profit and sale margin. This company is
currently launching a new range of leather jackets for female customers. The organisation has
plans to launch the leather jacket range in London, the UK for attaining desired outcomes. In the
primary market segmentation Mark and Spencer target premium class and upper middle-class
customers because the cost of the jacket is higher (Adelino, et. al., 2012). The current geographic
segmentation for the Mark and Spencer is to concentrate on London, United Kingdom. For
selling a large number of leather jacket this organisation target people between the age group of
18-35 working women only as they can easily convince with the leather formal jacket for office
purpose. Mark and Spencer target office people who need the formal jacket for attending
conference, meeting, and seminars. They can easily afford this premium cost of the jacket to
fulfill their needs, wants and purpose. This company provide 1-year warranty for the leather
jacket and also take feedback from customers through emails and by telephonic conversation
(Weinstein and Cahill, 2014). The main purpose to select age group 18-35 people as primary
market segmentation because almost all people of this age group are working and have a good
job. They need a formal leather jacket for a different purpose so they can easily get attracted and
convinced. Mark and Spencer offer high-quality products at the high cost this age group
customer can easily afford this high premium cost of the leather jacket.
Secondary market segmentation
This organisation target students and youth in the secondary market segmentation because they
also get attracted towards the formal leather jackets. Youth people and students need to attend
the various interviews, college fest, and conferences for which they love to wear formal jackets.
Mark and Spencer conduct market research to identify current market trends, needs and wants of
female customers before launching new leather jacket range in the UK market. Price of this
leather jacket is so high that can be afforded by people who wants to look classy and stylish. This
jacket gives luxury looks that can easily attract youth and student towards it. This organisation
faces various challenges to achieve set benchmark and target in certain time. Mark and Spencer
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take youth and students as secondary market segmentation because all of them are not eligible to
afford such a high cost of the premium leather jacket (Weinstein, 2013). To attract a huge
number of students and youth it is highly important for this organisation to develop great
marketing as well as promotional methods for this product. To enhance sales margin and profit
manager of mark and Spencer give high focus on the quality of the products. The main target of
this organization is a female student who can easily get attracted towards the leather jacket.
Female students are highly interested in leather jackets because of this reason Mark and Spencer
select them as secondary market segmentation. They require such kind of premium jackets to
attend college fest and seminars. The organisation thinks that it is the best secondary target
segment to sell the high range of jackets and to achieve the desired set of the target.
Tertiary market segmentation
It is important for the Mark and Spencer to develop marketing as well as a promotional campaign
for a new leather jacket that would develop a great position of the organisation in the minds of
target market segmentation customers. In this market segmentation, all other people are coming
who wants to purchase such kind of jackets for the different purpose. It is highly important for
the organisation to cover all the market segmentation to sell a large number of the jacket. This
will aid to achieve set goals and objectives of the organisation. Rest of the people from all whole
population comes under tertiary market segmentation. It is necessary for the marketing manager
of mark and Spencer to develop attractive and great marketing of leather jacket to attract the
huge number of customers from different corners of the country of all age group (Loveridge and
Mok, 2012). For achieving high profitability and sale of leather jacket Mark and Spencer give
focus on the all population to convince them to purchase this product. This organisation set high
cost of this female leather jacket teat can be afforded by high class and upper-middle-class
people. To attract a huge number of customers it is essential. For the company to cover all the
required and important description of the leather jacket in the marketing and promotional
process. This will aid to cover a larger section of customers in the whole market. Mark and
Spencer offer high-quality products and services at a premium cost that is affordable by average
income people. In this market segmentation mark and Spencer cover all the population. It is the
major duty of the market manager of the company to conduct market research before doing
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market segmentation to achieve high growth and success in a tough competitive business
environment.
Segment as a Primary Target Market
The segment as a primary target market for the leather jacket offered by Marks & Spencer is the
female working women having the age group of 18 to 35 years. These women will be highly
interested in such jackets as these are the formal jackets having good stuff and the quality prices
which they can afford easily. There will be the requirement of such formal leather jackets for the
working women as it can make them look like a professional as well as can suit their style also.
The age group selected for such primary target market 18 to 35 which will be the buying
audience for such jackets. The apparel sale is highly represented by the segmentation of the
women of this age group due to their interest as well as buying behavior related to the apparels
(Ernst and Dolnicar, 2018).
The women will be the professionals who will be primarily targeted as they will require such
jackets and formal apparels in order to attend the conferences, seminars as well as the meetings.
As they are working, they can also afford the premium prices of such quality leather jackets and
can recommend to their other acquaintances also. The women of these age groups are generally
interested in the shopping and maintaining their lifestyle at the workplace so this will be
considered as the best option for Marks & Spencer to choose at their primary market
segmentation.
The primary market segmentation is considered as the segment within the market place where
the business believes that it will give the best chances to sell its products. The market segment
chosen for the primary target market for this leather jacket is likely to give the best opportunities
for increasing the sales of Marks & Spencer (Jia, et. al., 2017).
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References
 Adelino, M., Schoar, A. and Severino, F., 2012. Credit supply and house prices: evidence
from mortgage market segmentation (No. w17832). National Bureau of Economic
Research.
 Ernst, D. and Dolnicar, S., 2018. How to avoid random market segmentation
solutions. Journal of Travel Research, 57(1), pp.69-82.
 Jia, C., Wang, Y. and Xiong, W., 2017. Market segmentation and differential reactions of
local and foreign investors to analyst recommendations. The Review of Financial
Studies, 30(9), pp.2972-3008.
 Loveridge, R. and Mok, A.L., 2012. Theories of labour market segmentation: a critique.
Springer Science & Business Media.
 Weinstein, A. and Cahill, D.J., 2014. Lifestyle market segmentation. Routledge.
 Weinstein, A., 2013. Handbook of market segmentation: Strategic targeting for business
and technology firms. Routledge.
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