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Market Segment Analysis (Individual) - Essay Example

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An organization would not be successful in the marketplace if it fails to identify the group of customers who possess the potential to purchase the…
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Market Segment Analysis (Individual)
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Download file to see previous pages Porsche is a German automobile brand founded by Ferdinand Porsche in 1931. The organization’s headquarter is in Stuttgart, Germany. However, it is equally popular in all parts of the world for its futuristic car designs and superior performance on-track (Porsche Automobile Holding, 2014).
Porsche is popular all around the world and has established a statue of luxury sporting car. The major reason behind massive demand for Porsche is its car designs, luxury, comfort and prestige attached with those who are driving a Porsche. Customers of Porsche do not belong only to the elite class, but it is equally popular among sports car lovers of all age. Porsche major segmentation strategy is explained as following:
This segment of Porsche Automobile generates around 27% of the company’s revenue. The consumers of Porsche belonging to this segment prefer a car with superior performance on the track, which motivates them to work even harder to achieve the best and allows complete control on the transmission and drive. Top Guns are also self-obsessed, and they want to show-off so that people can notice them which support the assertion that these customers are status conscious. Top Guns are proud of their success and tell their success stories to everyone so that they can be appreciated (Huffman, Rayess, Habib, & Mitchell, 2012).
These are the customers who are passionate about owning the world’s best sports car and are intrinsically motivated towards experiencing new adventures in their lives. For this reason, they select a car which thrills them with its speed and power. Bon Vivant segment is currently generating 17% of Porsche’s total revenues and is considered as being a lucrative segment in the near future. These customers mostly live in urban areas and have the tendency to influence attitudes and behaviors of people in their surrounding (Richardson, 2004).
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