Question

Chosen Brand: Mercedes - Benz

We are going to develop autonomous cars (self-driving cars) , target healthy elderly people, age 60 years old.

In this assignment, your group is going to take the brand to the next level by developing the brand further through some strategies.

Please describe target market segment of mentioned new products in Behavioral segmentation, Demographic Segmentation, Psychographic segmentation and Geographic segmentation.

Appropriate use of secondary data to support arguments.

Answer 1

Market segmentation is the process of dividing a broad consumer or business market, normally including present and future customers, into sub-divisions of consumers based on some type of shared characteristics.

BEHAVIORAL SEGMENTATION

segmentation Target customers

criteria

Degree of loyality	Hard core Soft core switchers
benefit sought	1-Status 2-Perception of being eco friendly 3-Long-term cost effectivenss
personality	Determined and ambitious
User status	Non users Potential users First time users

DEMOGRAPHIC SEGMENTATION

CRITERIA CUSTOMERS

AGE	60 or 60+
GENDER	MALE OR FEMALE
LIFE CYCLE STAGE	FULL NEST 1,2,3
OCCUPATION	SENIOR MANAGERS, RETIRED EMPLOYEES, PROFESSORS

PSYCHOGRAPHIC SEGMENTATION

SOCIAL CLASS	MIDDLE CLASS AND UPPER CLASS	MIDDLE CLASS AND UPPER CLASS
LIFE STYLE	ASPIRER,SUCCEEDER,EXPLORER,REFORMER	ASPIRER, SUCCEEDER, EXPLORER, REFORMER

GEOGRAPHICAL SEGMENTATION

DENSITY

URBAN AND RURAL