Segmentation And Positioning Analysis Of A New Product

779 words - 3 pages

IntroductionA gas grill from Honda, a well-respected car company, will have special appeal to the young professional market.DescriptionA generic gas grill manufacturer will partner with Honda Motors to design a gas grill with the Honda logo. The styling and features will capture the essence of a modern Honda vehicle.Features:*Automotive-quality paint on body and frame*Rounded frame made from cast metal (no square steel tube)*Robust tank support*Good wheels with metal rims and rubber tires*Control panel - digital or dashboard dial style*"Turbo-Sear" button will fire an impressive flame at food*Igniter with massive, visible arc*Accurate thermometer, timer and fuel gauge*Heavyweight, smooth operating controlsTarget MarketDemographic ProfileAge: 25 - 45The target market will be young adults to early-middle age.Generation: Generation X - Young BoomerGender: MaleMen are the primary buyers of gas grills (Meyers, 2002).Family Size: 1 - 4Since the target market is young, they will tend to be single or with new families.Family Life Cycle: Single to married with young childrenIncome: $40,000 - $100,000Young professionals will have the income that can be spent on luxury items such as this.Social Class: Middle - Upper MiddleEducation: Completed collegeOccupation: ProfessionalPsychographic Profile*Lifestyle: High-Tech OrientedThe target market will have high-tech oriented lifestyles. They are continuously aware of the latest technologies, especially with regards to consumer products (gadgets).After a lifetime of slick advertising, they are extremely brand conscious, and sophisticated in product evaluation (Kotler, p.266). They are aware of a wide range of brand reputations.*Values: StriversStrivers are focused on material and professional goals (Miller, 1998). Even though the low range of the targeted income cannot really afford this, there is a significant "show-off" factor among this personality type. When a new technology is presented, there is a desire to "have the latest thing."Honda automobiles have a brand personality (Kotler, p.267) that corresponds to the desired personal characteristics of the target market. Hondas are seen as high-tech and efficient and are generally considered an intelligent choice for an automobile.Behavioral Segmentation*Occasions: Special OccasionSince a gas grill lasts several years, it is a special occasion purchase.*Benefits: Quality, PrestigeThe Honda Gas Grill is targeted towards purchasers seeking a higher level of quality than is perceived from a standard gas grill. Owning high-tech, brand-name products is a status symbol for the target group*User Status: Regular UsersThe target market will have already owned a...

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