The Target Market Collage as One That Reflects Beyonce's Identity and Expressions - Case Study Example

Segmentation Theory The concept of market segmentation is able to create a specific understanding of how businesses can approach different situations. When looking at this particular theory, there are several concepts that apply to the market that is created. Market segmentation is defined as a group of people or demographics that are looking at different businesses, products and services. This concept began in the 1940s when larger industries needed to find ways to attract different consumers to products and services in a wider area and through national and international corporations. Doing this led to a different way to turn imperfect competition into one that was based around moving outside of the competition. The more that different individuals could become a target the more likely they would be able to respond to the products and services in a positive manner (Wedel, 2000). The concept of market segmentation is used for several reasons within the market. The foundation of this is to create a strategy within a corporation and outside of a business for the right responses. When a business has an undifferentiated market, which doesn’t focus on the characteristics of demographics and individuals, then it may not be able to reach them as well. When a market is segmented, it is able to create a different approach which targets individuals that are in need of a product or service. More importantly, the segment is able to move outside of other competitors who have similar products or services. As this is done, there is the ability to create a different approach to the business and to the needs of specific individuals (Dickson, Ginter, 1987). The concept of multidimensional segmentation can be combined with the main aims that are used within different companies. When looking at different levels of purchase behavior and the way that potential customers respond to a specific concept, there is the ability to create different products or services that relate to the individuals needs. Doing this is able to create a specific understanding of what is occurring in the market as well as what the behaviors are of those that are a part of the market (Blattberg, Sen, 1974). Target Market Identification The target market that will be used is in relation to the singer, Beyonce. Beyonce is a renowned R&B artist from the US and has won several Grammys through her music, acting and modeling. Beyonce began her career through the R&B band, Destiny’s Child, which gained prestige throughout America. She then broke into a solo artist that was able to create a different approach to the style she sang in. Her main sound is produced for the black and soul community and incorporates styles such as pop, funk, hip hop and soul. These styles are able to reach not only to the black community but are also known to present a different style of music to both the younger generations that are interested in this particular sound, as well as to individuals between 21 and 35 (Saldana, 2007). Geographical Traits The target market to be defined for Beyonce will be in Perth City, Australia. This is one of the largest cities in the western hemisphere of Australia and is known as a central point for culture and for society. The area is defined as one of the most central areas for entertainment because of the growth and design that is has. The central area has a business district which is known to carry several alternatives for performances as well as for the business in the area. The growth and development of the central business district is continuing to flourish with new bridges, such as The Link, that are a part of the boom. These projects are leading to more individuals coming for international entertainment. More importantly, Perth City has a coastline and several areas where individuals go for leisure and outside entertainment (Australian Bureau, 2009). Demographic Traits The demographics in Perth City, Australia consist of a diversity of individuals because of the size of the city. There are currently 1.6 million people living in the region with expected growth because of the business and entertainment opportunities in the region. The region is also known for a wide diversity of individuals. There are 28.6% English speakers, 25.6% of Australian ethnicity, and 2.9% Chinese in the region. Most in the area come from other regions with the city carrying one of the most popular areas for immigration, specifically from Eastern Europe. Africans are also known to carry a large immigration rate that is a part of the population. The age range consists of 29.7% between the ages of 15 – 30 with 51.2% living in families and households (Australian Bureau of Statistics, 2007). The fan base that Beyonce carries begins with youth at the age of 15 and moves toward the range of 30 – 35 year old young adults. Beyonce is also known to attract a larger crowd of men because of the focus of her music and the soul and funk that is often associated with the music that she focuses on. The modeling and movies that Beyonce has started in combines with this fan base and appeals to those that are looking at the African – American experience that Beyonce carries in her different roles. The definition through her music is one that is based on soul music and the black experience that is currently being experienced in society (Fitzpatrick, 2003). Psychographic Traits The psychographic traits of those that are in Perth City, Australia are linked to the concepts of city life and entertainment. Most in the area are interested in different types of entertainment as well as newer ways of living, specifically through entertainment. This specific trait is linked directly to the immigration that is in the area as well as what is a part of the segmentation of the different areas. Because of the migration, many go into Perth with an openness toward being a culture seeker and looking into different types of experiences outside of their home. The younger generations, which are interested in soul music, look at this particular concept with a sense of culture and appeal toward looking at the black experience as a part of culture (Huong, 1998). The psychographic trait relates to the lifestyle that is also a part of Perth City and the target market of Australia. The lifestyle is based on young individuals that are looking for identity and expression and will turn toward entertainment to define a set of diversity and what is going on. The socioeconomic status of most is based on a basic working job and median income. The lifestyle then includes some entertainment that holds to their personality. The leisure activities include entertainment outside of work, such as the night life. The VALS type that is associated with their personality is linked to the concept of finding identity and understanding different approaches to diversity. The interests and opinions of those that are in the region also include a curiosity for diversity and an understanding of human experience in a different manner (Magie, Young, 2010). Behavioral Traits The behavioral traits that are associated with Perth City, as well as with the fan base of Beyonce are also related to the demographics that are a part of the area. There is a large emphasis on culture and the arts as well as how it defines identity among those that are interested in Beyonce’s music. The concept that is pertinent in the community is one that is designed with a rich culture that has the ancient artifacts and expressions of the Aborigenese as well as a contemporary and modern approach to the arts. The target market of Beyonce reflects this with expressions that are defined by a contemporary lifestyle and identity. The behavior includes the expressions of freedom, entertainment that is used outside of business and the ability to enjoy the specific expressions of the city (World Travel Guide, 2010). Rationale of the Target Market Collage The target market collage is one that reflects the identity and expressions of Beyonce as well as the response from the target market when identifying culture and community. The target market first defines Perth City, specifically with the entertainment center that is seen and is expanding throughout the city. There are also two portraits of Beyonce and her portrayal of art. It can be seen through these pictures that Beyonce is reflecting the concept of the African – American identity as well as the identity of youth that is a part of her specific music. Other concepts of this are related to finding identity, specifically with the youth culture. Since most youth are interested in the concept of identity, the appeal to Beyonce is in finding this particular part of the market. The collage also shows the concepts of diversity that are a part of Perth City, with a specific focus on those that are interested in the African – American experience that Beyonce portrays. Focusing on these aspects of Beyonce and her target market is then able to create a different understanding of the expressions that are a part of society. References Australian Bureau of Meteorology. (2009). Annual Climate Summary for Perth: Near Average Rainfall With Warmer Days for Perth in 2008. Bureau of Meteorology. Australian Bureau of Statistics. (2007). Perth Statistical Division. Census Quick Stats. Blattberg, Robert, Subrata Sen. (1974). Market Segmentation Using Models of Multidimensional Purchasing Behavior. The Journal of Marketing (38), (4). Dickson, Peter, James Ginter. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. The Journal of Marketing (51), (2). Fitzpatrick, Rob. (2003). Beyonce: Dangerously in Love. NME. Retrieved from: http://www.nme.com/reviews/beyonce/7130. Huong, Nguyen, Robert Waryszak, Brian King. (1998). Migrants and Their Overseas Travels: A Psychographic Segmentation of Australia’s Vietnamese Community. Asia Pacific Journal of Tourism Research (3), (1). Magie, AA, DD Young. (2010). Consumer Behavior within the Teen Segment. Advances in Marketing (10), (2). Saldana, Hector. (2007). American Idol Singers Get Ready for Performance. San Antonio Express News. Widel, Michael, Wagner Kamakura. (2000). Market Segmentation: Conceptual and Methodological Foundations. Kluwer Academic Publishers: Massachusetts. World Travel Guide. (2010). Perth Culture. Retrieved from: http://www.worldtravelguide.net/city/95/culture/Australia-and-South-Pacific/Perth.html. Collage Youth Culture Finding identity New Entertainment Contemporary and Pop Expressions Ages 15 – 35 Diversity Read More