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Week #7 Learning Activty #1 - Essay Example

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I believe that, for target market analysis, it will help to know more about Kingfishers’ customers through psychographic segmentation and benefit segmentation analysis. Psychographic segmentation understands the personality, motives, and lifestyle of existing and target new…
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Week #7 Learning Activty #1
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Week 7 Learning Activities Stoney’s Kingfishers I believe that, for target market analysis, it will help to know more about Kingfishers’ s through psychographic segmentation and benefit segmentation analysis. Psychographic segmentation understands the personality, motives, and lifestyle of existing and target new customers (Lamb et al. 270). What are the motives for trying a competitor and going there more afterwards? Is the competitor’s novelty the only advantage it has and loyal customers will soon go back to Kingfisher, or is it something more? If the competitor offers something different, does it automatically mean that customers will like it if Kingfishers copies the competitor, or is the company better off leveraging its strengths? These are only some of the questions that can delve further into the inner emotions of customers that affect their decision-making process, so that Kingfishers can be more competitive. Psychographic segmentation will help examine underlying factors that motivate people to go to Kingfishers or to the competition. Aside from psychographic segmentation analysis, assessing benefit segmentation variables can also be helpful. The exact benefits of choosing Kingfishers over other competitors can improve SWOT analysis that will contribute to potential changes in the marketing mix. These changes can strengthen Kingfisher’s competitive advantages.
Fighter Warehouse
When Padgett talked about communication and high-performance work system for employees, I thought about the intersection between marketing communications and how the employees are trained for it. The company has several marketing channels, where people buy and/or learn more about products, so it is important that employees are skilled in addressing communications needs that must be catered for every channel. For instance, since Fighter Warehouse caters to MMA fighters, public relations communications is essential in affecting the “publics” who affect fighters’ purchasing decisions, including their audiences, managers, and fight promoters (Dahlen et al. 390). It will be helpful to analyze these publics and how they are currently contributing to the company’s brand image and how they can further be integrated into the brand narrative, so that Fighter Warehouse can have a stronger brand narrative to its “publics,” especially its customers. At the same time, employees must be analyzed if they have the knowledge, skills, and attitudes (KSAs) to serve these publics in different channels. Knowing their KSAs’ deficiencies and strengths will improve Fighter Warehouse’s marketing strategies and tactics.
Works Cited
Dahlen, Micael, Lange, Fredrik, and Terry Smith. Marketing Communications: A Brand Narrative Approach. United Kingdom: John Wiley & Sons, 2012. Print.
Lamb, Charles, Hair, Joe, and Carl McDaniel. Essentials of Marketing. 7th ed. Ohio-Southwestern-Cengage, 2012. Print. Read More
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