Consumer Analysis
CONSUMER ANALYSIS
SEGMENTATION, TARGETING AND POSITIONING
The term segmentation was first introduced into marketing literature by Alderson (1937). In 1950s, Smith conceptualized and provided a definition of segmentation as we know it today. Market segmentation may be defined as subdividing a heterogeneous market into more homogeneous subgroups based on some common customer characteristics, such as age, location, time of purchase or purchase frequency. Segmentation strategy has been expanded into several forms, such as niche, multi-segment and across-the-board targeting strategies (Alderson, 1957; Kotler, 1980; McCarthy, 1978).
SEGMENTATION
DEMOGRAPHICS
Table : Demographic Segmentation of Lacoste1
Age: 18-44.
Gender: More male (57%*) than female (43%*) buy from Lacoste.
Income: Above 12.5 lakh per annum. The people with incomes from 6 to 10 lakh (21.6%*) and 10 to 15 lakh (21.6%*) are keener to buy Lacoste.
Occupation: Business (51.4%*), Corporate and Service (16.2%*)
Social Class: Upper Middle Class, Upper class, SEC Class A
Generation: Generation X, Generation Y
Lacoste targets people from the age of 18-44 since its a brand that targets the youth as well as older people. It produces clothes within a wide range with basic silhouettes but different colors and prints which can be for the youth. Since Lacoste started out as a menswear brand, a majority of their target group is male. However, of late their global strategy has shifted to focus more on women as well. This happened because they noticed that more and more women across the world are buying Lacoste. Within India, people who fall in upper middle class and upper class are the ones who buy Lacoste. This is apparent from the salary of the target group for Lacoste. The lifestyle that Lacoste is suited for is found more amongst Business class and people in corporate sector.
PSYCHOGRAPHICS
Needs and Motivation: On the hierarchy of needs, the customer who purchases Lacoste would ideally be on the
SEGMENTATION, TARGETING AND POSITIONING
The term segmentation was first introduced into marketing literature by Alderson (1937). In 1950s, Smith conceptualized and provided a definition of segmentation as we know it today. Market segmentation may be defined as subdividing a heterogeneous market into more homogeneous subgroups based on some common customer characteristics, such as age, location, time of purchase or purchase frequency. Segmentation strategy has been expanded into several forms, such as niche, multi-segment and across-the-board targeting strategies (Alderson, 1957; Kotler, 1980; McCarthy, 1978).
SEGMENTATION
DEMOGRAPHICS
Table : Demographic Segmentation of Lacoste1
Age: 18-44.
Gender: More male (57%*) than female (43%*) buy from Lacoste.
Income: Above 12.5 lakh per annum. The people with incomes from 6 to 10 lakh (21.6%*) and 10 to 15 lakh (21.6%*) are keener to buy Lacoste.
Occupation: Business (51.4%*), Corporate and Service (16.2%*)
Social Class: Upper Middle Class, Upper class, SEC Class A
Generation: Generation X, Generation Y
Lacoste targets people from the age of 18-44 since its a brand that targets the youth as well as older people. It produces clothes within a wide range with basic silhouettes but different colors and prints which can be for the youth. Since Lacoste started out as a menswear brand, a majority of their target group is male. However, of late their global strategy has shifted to focus more on women as well. This happened because they noticed that more and more women across the world are buying Lacoste. Within India, people who fall in upper middle class and upper class are the ones who buy Lacoste. This is apparent from the salary of the target group for Lacoste. The lifestyle that Lacoste is suited for is found more amongst Business class and people in corporate sector.
PSYCHOGRAPHICS
Needs and Motivation: On the hierarchy of needs, the customer who purchases Lacoste would ideally be on the