Evaluate each of the two segments for viability by completing the following for each segment.

Evaluate each of the two segments for viability by completing the following for each segment.
September 16, 2020 Comments Off on Evaluate each of the two segments for viability by completing the following for each segment. Assignment Help assignment-help assignment-help

Product: Dyson Vacuum
Segments: Age rate from 30 to 45, Women use (house Wife), High income, Pets owners. Family with Kids.
1) Evaluate each of the two segments for viability by completing the following for each segment.
a) Name the segment (Name should align with a profile of the typical segment member).
i) Pet Owners, Family with Kids
b) Heterogeneous: Explain how the segment is meaningfully different from other segments
i) Pets have a different type of waste and dust compared to that of kids’ families. The lifestyle in each of the segments is also different.
c) Measurable/Substantial: Provide evidence with secondary research of the approximate size of each segment.
i) As per US numbers:
(1) Pets owners: 67% of the households have pets which is about 85 Million.
(2) Family with Kids:33.4 Million households have kids, (below age of 18)
d) Actionable/Responsive: Name at least one aspect of the marketing mix that will be unique to this segment and explain why it is important to members of this segment.
i) Promotion, one of 4Ps. Matter here:
(1) Pets owners like to associate with products which help them manage their pets better. Promoting in pet shops might be of use.
(2) Family with Kids have a different style of spending and aily life routine. So promotion near school year and church events.
(3) Allergy and asthma: kids with asthma struggle from house dust and dirt.
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2) Evaluate each of the segments for attractiveness by completing the following for each segment:
a) Financial considerations
i) Segment size – Number of customers in each segment:
(1) Pets: 85 Million, 33.4 Million (sitation)
(2) Family with Kids: 33.4 Million households have kids (sitation)
ii) Growth rate – Percentage growth of the segment.
(1) Pets: yielded 4.9 % growth, (sitation)
(2) Families: (sitation)
iii) Proportion of overall market –
iv) Percentage of the overall market (Current and Future Proportions)

b) Structural Attractiveness (Competitors and Distribution)
i) Competitors
(1) How many competitors are there for this segment? List two or three competitors, and their segmentations for the vacuum (Shark Ninja, Hoover). In addition, how they distribute.
(2) How dominant are the competitors for this segment? Are competitors consitrating on those segments.
(3) What is their market share and likely growth rate? (sitation)
(4) What degree of competitive rivalry exists for this segment? If there is a segment they didn’t consider. And what is their feedback.
(5) Are there significant indirect competitors for this segment? If there is third party competitor you may list them.
ii) Distribution
(1) What is the ease in gaining sufficient distribution? Amazon, Best Buy, Dirct sales from Dyson websit. (sitation)
(2) Can existing distribution channels be used? If there is an additional distribution what is it and how it could be implemented.
(3) Do new distribution relationships need to be formed? It depends on how well exisiting distribution is going. And availability of product should be discussed.
c) Strategic Direction fit with the firm
i) Does the segment fit with the strategic direction of the firm? How the segment fits marketing.