Fundamentals of Marketing: Segmentation, Targeting and Positioning

This essay delves into the fundamentals of marketing, specifically focusing on segmentation, targeting, and positioning. It highlights a three-stage business approach involving identifying customer types, selecting the most suitable segments to serve, and implementing segmentation through optimized products and services. The target consumer is defined as males aged 20-40 with a family income above $45,000, emphasizing that color and background are not barriers. The business focuses on male clothing due to less competition compared to female clothing, aiming to meet customer expectations for quality and fashion. The essay also addresses the importance of positioning the business as innovative and cutting-edge, suggesting strategies like establishing retail stores to enhance customer accessibility and neutralize competitors. Price balance is identified as crucial, and the essay concludes by stressing that bringing services closer to consumers is essential for business success in today's market.

Running head: FUNDAMENTALS OF MARKETING; SEGMENTATION
FUNDAMENTALS OF MARKETING; SEGMENTATION
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FUNDAMENTALS OF MARKETING; SEGMENTATION 2
Segmentation, targeting, and positioning put together to make up a three-stage of
business. It involves determining which kinds of customers exist within, after that, a business
person select the ones that are best off trying to serve and lastly, implementing the business’s
segmentation through optimizing the products and services for that segment as well as
communicating that the business owner has made a choice to distinguish herself/himself in that
manner (McDonald & Dunbar, 2013, p. 4).
Segmentation involves finding what types of consumers with various needs exist. In this
case, my consumers or target are males between ages of 20 and 40 with a pooled family income
of more than $45,000. In males’ category, color is not a barrier, and they have diverse
backgrounds. The business is versatile and can fit into any environment since the consumers in
this category are ready to pay a high price to get quality clothing. Since no business satisfies the
needs of all customers, the company is only dealing with male clothing to meet the expectation
of every customer. Apparels business is influenced by demographic trends and pricing as well as
economic situation (Cahill, 2012). Fashion, while significant for personal business, play a partial
responsibility in the general market.
My choice generally depends on various factors. First and foremost, how well the
existing segments served by other manufacturers are a question that determined my target. Since

FUNDAMENTALS OF MARKETING; SEGMENTATION 3
most, I found that the current manufacturers and the segment do well in female clothing while
the male was still untapped. It is a section that has little competition and therefore, it is a good
adventure.
My business tries to keep up with fashion as the male want to retain their sense of youth
who tends to buy little expensive clothes to have a varied wardrobe that cost them too much and
also make them updated with the current fashion trend. My customers are unpredictable, they
tend to buy when they see something they like, and they have no shopping list. In this case, the
business has no peak time and is an irregular period to make higher or lower sales. As much as
male is ready to pay a higher price to get quality clothing, charging them higher amount might
not be a good idea. Price balance, in this case, is essential.
Another important issue, in this case, is the positioning. It determines how well the
business will influence the perception of my customers regarding my products comparative to
probable competitors (Hooley, Piercy & Nicoulaud, 2012, p. 36). In this situation, I have
positioned my business as the most innovative and cutting edge. The business is unique since it
provides new clothing in the market, that no any other competitor has ever produced. Having
considered the weakness of the business, which is mainly in pricing; it is important that the
business will get closer to the consumers by creating several stores within their rich to attract
more customers and to avoid traveling long distance. Bringing services and goods closer to the
consumers is one of the issues that affects many businesses today, building a retail store for
customers is important to any business since it is one of the means reaching them (Hines, 2015).
In this case, the price will remain as without reducing it by some amount. By creating these
stores, it neutralizes the competitors since they haven’t invested in such ideas.

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References
McDonald, M., & Dunbar, I. (2013). Market segmentation: How to do it, how to profit from it.
Chichester: John Wiley & Sons.
Cahill, D. J. (2012). Lifestyle Market Segmentation. Hoboken: Routledge, Taylor and Francis.
Hooley, G. J., Piercy, N. F., & Nicoulaud, B. (2012). Marketing strategy & competitive
positioning. Harlow: Financial Times Prentice Hall.
Hines, T. (2015). Fashion marketing: Contemporary issues. Place of publication not identified:
Routledge.