Market Research and Customer Segmentation

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Essay #: 059916
Total text length is 5,206 characters (approximately 3.6 pages).

Excerpts from the Paper

The beginning:
Abstract
This paper shall discuss the methods by which marketers develop customer segmentation groups and how this can be used to appeal to luxury automobile purchasers.
Market Research and Customer Segmentation
Market research is of vital importance for marketers and strategists as they attempt to introduce and sell a product in the consumer marketplace. The research portion of any new product launch acts as a sort of due diligence period. Within this phase, marketers mine data and investigate the competitive landscape in order to gain a clearer understanding of how they might most successfully market and sell a new product or service. The end goal for the marketing and strategy group will be to correctly segment various customer groups...
The end:
.....sional success in order to afford such a nice vehicle. Moreover, with this professional and personal success, the potential car buyer would like to noticeably set him or herself apart from others. A marketer would appeal emotionally to this pride as a means to induce the purchase decision. Since so much of luxury is image, the emotional and social would be the most important dimensions to consider.
References
DJS Market Research Ltd. (n.d.). Definition of market
research. Retrieved from
http://www.marketresearchworld.net/index.php?option=com_content&task=view&id=14&Itemid=38
Sweeney, J. C. & Soutar, G. N. (2001, Summer). Consumer
perceived value: The development of a multiple scale
item. Journal of Retailing, 77(2), 203-220.