It is based on a fictitious channel, called The Fashion Channel. Background The Fashion Channel is a network that has traditionally experienced full market share of fashion television. With the addition of competitive programming and increasing advertiser interest in targeting specific demographics, The Fashion Channel has to either undergo changes in its marketing strategy, or risk losing their advantage in the market they pioneered. Recommendation My recommendation has four parts.
Millennials, Generation X and baby boomers, for instance, or fans of thrillers, paranormal romance and horror. Then you target the different segments with different ad campaigns. This takes more work than a one-size-fits-all advertising blitz, but it's more effective.
Identify the Segments There are an infinite number of ways to divide up a given group — the population of your city, say — because people have so many different interests, demographic markers and activities. Effective market research segments the audience in ways that will help you target consumers: The segments must be large enough to be worth targeting.
There must be easy, predictable ways to reach them. They must respond to marketing. The segment must be stable, not a one-shot thing.
There are three primary methods of segmenting the market. Segmentation by description — age, gender, income, family size — is relatively simple, as it's easy to identify people in different segments.
Behavioral segmentation breaks the market down by the reasons people spend money, such as security, brand loyalty or a desire to impress.
These segments are harder to identify, but targeting them can be more effective. Benefit segmentation looks at the benefits people think they can from particular products, but this can be very hard to identify.
Many marketers combine all three approaches. Other breakdowns focus on time targeting sales to holidays or special eventsgeography where do customers live? Tip You'll have to pay to get good segmentation research, so focus on information you can use. Segmenting the market by food preference is helpful if you're selling vegan cookies or delivering pizza, but it's unlikely to benefit you if you're selling nonfood items.
Whom to Target After you have the segmentation data, you have to decide which segments to target.
It's better to be more specific than less. It's easier to target, say, "pregnant single mothers attending college" than "pregnant women. Of course you can target multiple segments: Added Costs Targeting specific market segments can increase your profits. Customers who feel your product or service is tailored to them and their needs respond better than they do to a generic ad.
However, targeting comes with added costs, on top of paying for the market research. If you target more than one market segment, you'll need to pay for multiple ad campaigns, one designed for each segment. If you brand the product in different ways for different markets or vendors, that'll add to your costs too.
Before committing to a segmentation plan, figure out just how much targeting you can afford to do. Are Segments Worth Targeting? Some market segments aren't a good investment. If you find only 50 or 60 people are in one segment, designing a targeted ad campaign just for that group may cost more than it's worth.
Compare the potential response and the potential profit to the cost before deciding. There are other reasons for not targeting particular segments.
If the only way to reach Segment X is through national TV advertising, they might be out of your price range. If Segment Y is reachable but can't afford your product, cross them off the list too.
Segmentation and targeting are worthwhile only when it benefits your bottom line.Segmentation lets companies boost profitability by tailoring their supply chain strategy to each customer and product in their portfolio.
Here . SPOTLIGHT SESSION Segmentation and Contour Detection Monday, June 27th, AM - AM. These papers will also be presented at the following poster session. 17 Interactive Segmentation on RGBD Images via Cue Selection.. Jie Feng, Brian Price, Scott Cohen, Shih-Fu Chang.
Case Analysis Of “The Fashion Channel” Introduction and Problem Definition The Fashion Channel case illustrates the development of market segmentation options in implementing marketing strategies in a changing competitive environment, and demonstrates how quantitative analysis may be used to support a strategic marketing decision.
Jun 30, · Behavioral segmentation breaks the market down by the reasons people spend money, such as security, brand loyalty or a desire to impress. These segments are harder to .
Chanel's geographic segmentation is expansive with a large market in Asia and Europe. Chanel has over stores world wide, mainly in metropolitan cities such as, New York, Miami, Paris, Moscow, etc.
The Panalpina Group is one of the world's leading providers of supply chain solutions. The company combines its core products of Air Freight, Ocean Freight, and Logistics to deliver globally integrated, tailor-made end-to-end solutions for eleven core industries. Drawing on in-depth industry know-how and customized IT systems, Panalpina .