Week 3 Segmentation Target Market PaperMCCAIN
Segmentation and Target Market for Kate Spade
Kimberly McCain
MKT 571/Marketing
May 18, 2015
Dr. M. Dee Guillory
Market segmentation divides the market into smaller clusters to promote products and services differently for each and are specific to the target market. It divides larger markets into smaller markets such as gender or age with shared characteristics. Target marketing directs the marketing activities toward a group of consumers. Kate Spade’s market segmentation uses many factors that include four categories:
Geographic segmentation that divides consumers based on region, climate, domestic, international, urban, rural, and suburban.
Demographic segment includes age, gender, ethnicity, social class, occupation, family status, education, and income.
Psychographic segmentation includes values, beliefs, attitudes, and lifestyle to group the market.
Behavior segmentation uses variables that include price, loyalty, behavioral patterns.
In 1993, Kate Brosnahan and her husband Andy Spade launched Kate Spade initially specializing in women’s handbags. The company matured establishing a recognizable brand and in 2007, the company was acquired by Liz Claiborne and increased the company’s brand globally. Kate Spade’s market segment is identifiable, accessible, substantial, unique, and durable and results in segments that are similar within the segment and different between segments. Initially, the Kate Spade brand launched accessories only and open their first store in SoHo, New York. The company expanded their line by including handbags, clothing, jewelry, shoes, stationery, glasses, fragrance and home décor and the brand was easily recognizable with their core values of classic shapes and graphic elements. Competitors include Coach, Michael Kors, Marc Jacobs, and Tory Burch.
Geographic
The geographic segmentation include region, size, population, and climate. Kate Space’s geographic segmentation is North America and four operating segments
Kimberly McCain
MKT 571/Marketing
May 18, 2015
Dr. M. Dee Guillory
Market segmentation divides the market into smaller clusters to promote products and services differently for each and are specific to the target market. It divides larger markets into smaller markets such as gender or age with shared characteristics. Target marketing directs the marketing activities toward a group of consumers. Kate Spade’s market segmentation uses many factors that include four categories:
Geographic segmentation that divides consumers based on region, climate, domestic, international, urban, rural, and suburban.
Demographic segment includes age, gender, ethnicity, social class, occupation, family status, education, and income.
Psychographic segmentation includes values, beliefs, attitudes, and lifestyle to group the market.
Behavior segmentation uses variables that include price, loyalty, behavioral patterns.
In 1993, Kate Brosnahan and her husband Andy Spade launched Kate Spade initially specializing in women’s handbags. The company matured establishing a recognizable brand and in 2007, the company was acquired by Liz Claiborne and increased the company’s brand globally. Kate Spade’s market segment is identifiable, accessible, substantial, unique, and durable and results in segments that are similar within the segment and different between segments. Initially, the Kate Spade brand launched accessories only and open their first store in SoHo, New York. The company expanded their line by including handbags, clothing, jewelry, shoes, stationery, glasses, fragrance and home décor and the brand was easily recognizable with their core values of classic shapes and graphic elements. Competitors include Coach, Michael Kors, Marc Jacobs, and Tory Burch.
Geographic
The geographic segmentation include region, size, population, and climate. Kate Space’s geographic segmentation is North America and four operating segments