Marketing Strategies: Adult Pleasure Toys and Lingerie
This report discusses the presence of a company that produces adult toys and lingerie. There are several parts to this analysis. First, the report examines the market segment and defines the target customer according to several types of segmentation. For a complete understanding of the targeted market, the report chose psychographic segmentation, demographic segmentation, behavioral segmentation and benefits sought segmentation.
The choice for these methods was a result of the type of product. The conclusion is that the targeted consumer is likely 20 to 45 and is driven by different motivations. In young age, the idea of experimentation is the primary motive, in the upper part of the age segment (30s and 40s) it is likely the need to experiment in the couple.
In terms of differentiation strategies, the report concludes that it is more difficult to differentiate based on the nature of the product, which is less customized, but that the company should focus on other parts of the marketing mix, including pricing strategies. It should also focus on the way the product is delivered. Here, the nature of the product implies discretion, so an online distribution system could be helpful.
Another large part of the report discusses environmental factors that could impact the business. Legal, technological, social and economic issues are discussed. The overall conclusion is that the business is more sensitive to economic issues than other products and the technology offers an opportunity in improving customer experience. As seen previously, this could also become a competitive advantage for the company.
Market segment and target customer
Marketing theory recommends several different methods that can be used to segment consumer markets. This report will focus on three particular ones, more relevant given the background of the business and the type of products it sells: psychographic segmentation, demographic segmentation, behavioral and benefits sought. As a side note to behavioral segmentation, this report will also discuss the market in terms of segmentation by occasions.
According to Fripp (2012), behavioral segmentation looks at the relationship that the client has with a certain product or service. This will likely label the user as a heavy or light user, as a loyal or occasional user etc. A particular aspect of behavioral segmentation is segmentation by occasion. This is particularly relevant, because erotic toys and lingerie are a part example of a product that is purchased primarily around certain holidays, notably St. Valentine's Day.
Taking into account some of the other variables relevant to behavioral segment, one can point out that erotic products are not necessarily the type of products that develop a following. They are more the type of product that someone tries from time to time in order to bring an additional element of novelty into one's sexual life. As a consequence, the company does not need to develop a following.
Lingerie, on the other hand, does develop a following, whether it is or not erotic lingerie. Women grow attached to a particular type of lingerie, and they use this even in conversation with their peers to promote a certain social status. This is not necessarily true only for recognized brands such as Victoria's Secret, but for European ones as well.
Segmentation by benefits is based, according to Reid (2009), on the needs of the customer and on what he perceives will bring him added value when using the product. In the case of the products that this company is commercializing, the customer is seeking to maximize his or her pleasure during a sexual act with his or her partner. This in turn can increase self-esteem, among other benefits. The lingerie part of the business could operate in a similar way, women wearing lingerie not only for the sexual act, but to feel beautiful, to feel good about them.
Demographic segmentation looks at things such as age group, sex or ethnicity. This report believes that the products address the 20 to 45 age group. The company should target females in this age category for the lingerie products and both males and females for the adult toys and other erotic products. The company could focus on married couples although, given the age segment that has been decided as a targeted market, this is not a necessity. The segment should also target individuals with medium and higher income: the products are not expensive per se, but targeted this category of consumers could ensure recurrent purchases over time, helping to build clientele.
When looking at psychographic segmentation, the most important elements to consider are lifestyle and personality....
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