Market Segmentation Strategy for a Luxury Cars Dealer – A Case Study by Infiniti Research
Market Segmentation Strategy: What is it all about?
Conducting an in-depth review of your target market and the audience is the first step to successfully launch your products/services. A market segmentation strategy is what empowers businesses to divide the target market into subgroups. A market segmentation strategy helps you to align your business goals and customer base along a combination of demographic, geographic, psychographic, or behavioral lines. By doing so, organizations can build targeted marketing campaigns to drive customer loyalty.
Types of Market Segmentation
Different types of market segmentation methods are used to segment the market into distinct groups. However, new segmentation methods are being used to generate better results by classifying the market into various groups. Here are a few techniques using which organizations can segment their markets to enhance their competitiveness and profitability:
- Distribution segmentation
- Geographic segmentation
- Media segmentation
- Price segmentation
- Demographic segmentation
- Lifestyle segmentation
The client is a world-renown luxury cars dealer in India. The client has been in the luxury cars business for over 25 years and possesses an inventory of exotic and luxury cars with the capability to deliver them worldwide.
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