Assignment question 2
Question 1 4
Question 2 7
Total product concept 7
In Malaysia: 8
Quality of product 9
Delivery and warranty services 13
Question 3 14
Situational Factors 14
Choose ONE (1) of the following items (presented in bulleted points) and answer ALL the THREE questions below:
* A popular brand of cosmetic product
* An international car brand
* A popular branded clothing line
1. Base on the product of your choice, discuss and describe the following:
* Market segmentation
* Target market
* Product positioning
2. For your ...view middle of the document...
The company's products were initially specifically designed for professional make-up artists, but are now sold to consumers worldwide.
Long before their company history, MAC cosmetics founders directed their product line towards professionals in the beauty and fashion industry that had to rely on heavy cosmetics, cake makeup and stage makeup to create the visual effects needed to withstand bright lighting during photo shoots. Who better to rise up to this demand than a fashion photographer? With a glamorous image and a celebrity endorsed product line, MAC cosmetics took the beauty industry by storm. Finally the novice makeup artist could create special effects without the use of stage makeup. The average city gal could create an urban look that was wearable from nine to five with evening cocktails after hours, and brides finally had a cosmetic line they could rely on to capture beautiful wedding photos.
M.A.C cosmetics honor the beauty in all people with color, shade and finish that’s right for everyone. The company’s credo: All ages, All races, All sexes reflect the unique appreciation of individuality. The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.
MAC cosmetics product was designed by professional makeup artists and remains dedicated to them. With formulas created to work onstage, the runway and in photo studios. MAC is invariability the choice of professional around the world. Mass marketing is homogenous demand, standardized product and similar in buyer response. Market segmentation is heterogeneous demand, differentiated product and differences in buyer response. MAC product has its own market segmentation. Why segmentation is necessary for an organization? Consumer needs differs in each product. The differentiation helps products to compete. Segmentation helps identify media. The strategy of segmentation allow producers to avoid head on competition in the marketplace by differentiating their offerings not only the basis of price but also through styling, packaging, promoting appeal, method of distribution and superior service.
M.A.C. Cosmetics have a potential market for the buyers offering affordable prices for all ages, sexes, races, gender and socio-economic groups. Their target market or target audience is the market segment which their product is marketed to globally. M.A.C.’s market targeting is the process in which the intended actual markets are defined, analyzed and evaluated just before the final decision to enter is made. M.A.C. targets its market, which is their strategic approach to creating a marketing mix for a specific, targeted market segment and set of buyers. Therefore, it leads to the company’s success. The beauty of M.A.C.’s target marketing is that it makes their...