Marketing Segmentation for a Sports Car
There are a multitude of segmentation strategies available to auto manufacturers who are selling sports cars globally. The basic segmentation approaches include demographic data on potential customers, including their age, income, professions, martial status, gender and previous car buying history. This would be consistent with measurable segmentation strategies. The substantial differentiation strategies often rely on segmentation on pricing alone, which is commonplace in commodity-like industries yet not so prevalent in sports cars. Differentiable segmentation is based more on the perceptions of consumers, influenced by the market positioning and unique value propositions that auto manufacturers create to distance their brands and autos from competitors. The use of benefit-based marketing that seeks to capitalize on the unique values and needs of a given segment of auto purchasers has proven to be effective in increasing sales (Sukhdial, Chakraborty, Steger, 1995). There is also the ability to segment markets based on how potential auto customers assign themselves into groups. This is called psychographics (Youn, Kim, 2008).
In terms of the least important of these segmentation approaches the least important is substantial, as a unique value position and resulting unique market position would be of more value. Creating segmentation strategies based more on the attitudes and values of auto consumers (Sukhdial, Chakraborty, Steger, 1995) has proven to be effective. Unique value propositions that resonate with potential sports car purchasers need to align with their values, preferences and self-concept. The potential customers must see congruence between their own values and needs and the segmentation, market messaging and market positioning of the sport car for any marketing campaign to be effective over the long-term.
References
Sukhdial, Ajay S, Chakraborty, Goutam, Steger, Eric K. (1995). Measuring values can sharpen segmentation in the luxury auto market. Journal of Advertising Research, 35(1), 9. Retrieved October 11, 2008, from ABI/INFORM Global database. (Document ID: 4394190).
Seounmi Youn, Hyuksoo Kim. (2008). Antecedents of Consumer Attitudes toward Cause-Related Marketing. Journal of Advertising Research, 48(1), 123. Retrieved October 10, 2008, from ABI/INFORM Global database. (Document ID: 1468396781).
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