Segmentation, Targeting & Positioning Strategy for Google Glass - Example

Segmentation, Targeting & Positioning Strategy for Google Glass Business Plan Executive Summary Google Glass has looked to position it product differently and is looking to aim at a niche market. Google Glass which is a product different from those available in the market has integrated technology in such a manner that it helps to simplifies live. The organization looks to target people who are lovers of gadgets, students and the working executives who look for similar products. The increasing customer base increases the chances of the product being accepted within the people. The marketing strategy have been developed where the organization looks to highlight the different features of the product and based on it looks to attract people. This will thereby help to create a niche market and will ensure that the overall strategy adopted by Google Glass increases the chances of being successful and increases the market reach. Table of Contents 1. 1. Introduction The success of a business is largely dependent on the manner the organization is able to develop and market it product or services. This requires that the organization develops proper strategy pertaining to targeting, positioning and segmenting. This ensures that the business will be able to place it product or services correctly and based on it will be able to use the different resources to satisfy the customers. With the advent of new product and services every day the importance of segmentation, targeting and positioning has rapidly multiplied as it determines the long term success of the product and helps to identify whether the product will be successful or not. 1.1. Aim The report looks to achieve the following aim To develop the segmentation for Google glass so that the organization is able to understand the segment of the society which the product will be aimed at and will thereby help to develop strategy accordingly To develop a targeting strategy for Google glass so that the organization is able to find out whether the targeted market will be a niche market or consumer class or any other class which will thereby help to develop the marketing strategy so that maximum number of customers can be satisfied To develop a positioning strategy for Google glass so that the organization is able to find out the manner in which the product will be positioned in comparison to the competitor and will thereby help to develop marketing strategy according to it 1.2. Scope The scope of the paper looks to find out the manner in which the segmentation, targeting and positioning strategy for Google Glass will be determined and will have a role in understanding the manner in which consumer behavior gets altered. This is further limited to the fact that the segmentation, targeting and positioning strategy for Google Glass is carried out based on the present market conditions which might change and might provide a different result in the future. 2. Background of the Product Google Glass is a new development by Google which is different from the ordinary glasses available in the market. The glass has been developed in such a manner that it helps to simplifies daily lives and has a half inch display which allows the user to carry out different functions by looking at the right side of the glass. The glass has a camera, microphone, GPS locator, and a bone induction amplifier which helps the user to hear the small sounds without being connected to the ear (Ritson, 2013). Google Glass is a unique device which has been technologically driven and operates using voice control. This thereby allows the user to use it even during walking, travelling or engaging in other activities. This device looks to simplify some of the daily work and has its advantage as it looks to improve the overall style of glasses and provides an important style through which the user is able to gain different advantages. 3. Literature Review The success of a product is largely dependent on the manner the organization is able to develop its segmentation, targeting and positioning strategy as it helps the marketers to understand the manner in which the marketing strategy has to be developed (Berkman & Gilson, 2001). A research carried out substantiated the point as he stated that segmentation, targeting and positioning strategy looks to be based on different factors like psychographic segmentation; geographic segmentation; benefit segmentation; behaviour segmentation which thereby ensures that the organization is able to understand the different environmental factors and the influence it has which will thereby determine the manner in which the success of a business will be examined (Bateman & Snell, 2004). This was further strengthened who stated that criterion segmentation is another important form of segmentation which is ignored as it helps to differentiate between the lookers and the takers (Chrisan, 2001). This form of segmentation helps to determine the number of customer or the different targeted customer which will purchase the product and is different from the lookers. This was contrasted by another study which stated that segmentation arises based on demographic; behavioral; psychographic factors and considering other factors means that it makes to create differences between the customer mass and looks towards selecting the target market instead of segmenting the market (Chrisan, 2001). Similarly ensuring that the right market is targeted helps to multiply the chances of the product being successful or not (Chew, Cheng & Petrovic-Lazarevic, 2006). This has been supported by a research which states that there is no point in marketing the product if the correct target market hasn’t been identified for that product or services (Clemons, 2008). This has been supported that using the five characteristics namely attainable; measurable; large enough; defendable; sustainable helps to find out the correct targeted market and increases the overall strategy through which the business is able to develop a standard which will help to target the correct market (Clemons, 2008). This study has been backed by another study which says that different factors like market size, growth, competition and similar other factors should be analyzed so that overall effectiveness is gained and the correct targeted market is aimed (Firoziyan, Hasangoli & Stiri, 2009). This will help to develop the required parameters based on which the correct target market will be aimed at and will help to generate the required fundamentals which will ensure the long term success of an organization. A different study which has been developed in the same direction shows that proper strategy formulation after understanding the target market and positioning helps the marketers to be using the resources in such a manner that maximum productivity can be ensured (Awni, 2008). This thereby helps to ensure that the resources are used in the most productive manner and provides the required direction through which the overall efficiency of the business can be enhanced. This helps to develop the correct distribution and marketing channel which provides better penetration and increases the opportunity to be able to reach the correct segment (Hawkins, Best & Coney, 2006). The advent of technology and the increase penetration in the market which provides customers with market information has resulted in bringing a complete change in which the market fundamentals work (Brassington and Pettitt, 2001). This has thereby increased the degree of pressure and manner in which the organization looks to sell their products. This has a negative impact on the overall business strategy and determines the future direction based on which the business will look to develop its strategy (Alvarez & Casielles, 2005). Thus, the different research conducted in the direction of segmentation, targeting and positioning strategy is aimed at improving the manner in which operations take place and looks towards determining the different role that the marketers have to take so that they are able to ensure the best possible use of the resources. This will help to develop correct strategies and will develop the required fundamental through which the business is able to target the correct audience and develop the required structure to achieve the bigger goals. 4. Segmentation, Targeting and Positioning Strategy This section will look to examine the segmentation, targeting and positioning strategy which has been adopted by Google Glass so that it will help in determining the marketing strategy and will provide the complete framework based on which the organization will work (Ismailpour & Ghafarieashtiyani, 2002). This will thereby help in the generation of the required impetus which will be aimed towards better use of resources and will help in the achievement of the objectives. 4.1. Segmentation Google Glass based on the product offering has looked towards segmenting its product for those classes of customers who are different and belong to the niche category. Since the product looks to offer great features which is aimed at technology integration it looks to attract customers who are technology savvy and look to purchase new gadgets which will help to simplify their lives. In addition to it the segmentation is made on different factors which are as Geographical: On the basis of geography Google Glass has looked to segment the targeted customers to be one of developing and developed countries. The prime reason to choose an economy which is developed or growing is that the disposable income for those people is high and will provide an opportunity through which they will be able to cater to a bigger market. This will also increase the rate of penetration and increase the chances of getting the prospective customers (Coughlan, Stern & Adl Ansary, 2006). Demographical: On the basis of demography Google Glass has looked towards ascertaining the manner in which the market has been segmented. On the basis of demography Google Glass has looked to target people between the age of 14 years to 35 years which includes all type of people including students, working executives and people fond of gadgets (Coughlan, Stern & Adl Ansary, 2006). Behavioural: Based on the behavioural characteristics Google Glass looks towards attracting people who are fond of gadgets and are in such of new gadgets which will help to simplify their lives. Based on the behavioural traits Google Glass looks towards attracting people towards by product by highlighting the manner in which the user will be able to use the different gadgets for their benefit and development (Coughlan, Stern & Adl Ansary, 2006). Psychographical: Based on the psychographical traits Google Glass looks to attract the younger people who look for new gadgets which will help to improve their life style. This is aided by the fact that the pshchographical traits also makes the organization aim people based on values and interest and look to attract people who have a preference of purchasing new products which will bring the required transformation and will help to increase the penetration among the customers (Coughlan, Stern & Adl Ansary, 2006) Thus, the segmentation strategy throws light on the different aspect which the organization is looking to work on so that they are able to attract maximum possible customers. 5. Ranking Order Google Glass has looked towards ranking the different segmentation factors based on different importance and looks to thereby identify the most important factor. The ranking of the different factors is as Factor Rank Geographical 4 Demographical 1 Behavioural 3 Psychographical 2 The different ranking to the different factors has been done by Google Glass on the manner they expect the product to attract different segment of the society. All the factors are equally important in determining the manner in which the decisions will be impacted but emphasis is laid on demographic because the product characteristics are such that it will help to eye the correct target market 6. Target Market One Google Glass has looked to attract students and gadgets lover and is the main primary target for the organization. Since, the product Google Glass provides features like a camera, microphone, GPS locator, and a bone induction amplifier which helps the user to hear the small sounds without being connected will attract the gadgets lover. The increase in the sale of smart phones and other trendier products which are technologically advanced has provided the right direction as aiming customers who look to purchase product which are trendier and technology advanced will reduce the chances of failure (Cateora, Mary & Graham, 2009) Google Glass further while looking to select the primary market to be students and gadgets lover has looked to attract people between the age of 14 to 25. This will be the primary market as the manner which is growing at a rapid pace and the manner in which people are looking to substitute new and trendier products and gadgets for other products irrespective of the price will be able to attract a large section of the society. 7. Target Market Two Google Glass apart from the primary targeted customers who are students and gadget lover has looked to attract working executives who look for products which will simplify their daily business. This provides a great opportunity for Google Glass as the product has been designed in such a manner that it will help to attract the working executives. For example, the technology to talk to people without using the handset and directly passing on the message will act as a big boon as it will help to carry the normal operations at the same time communicate with people (Cateora, Mary & Graham, 2009). The primary targeted customer base is slowly strengthening as people who are young and working look to purchase gadgets which will help them to simplify their lives. Those people look for gadgets and products which will help to ensure that they are able to carry out the daily activities easily has increased the need and requirement of such a product. 8. Marketing Strategy for Target Market One Google Glass has looked towards identifying the marketing strategy for their primary targeted customers who are students and gadgets lovers. The company before launching the product has looked to develop a strategy through which they are looking to ask for captions and reasons from people why they would purchase the gadget. The customer who is able to provide the strongest reason will be provided a gadget. Thus, Google Glass on the first instance looks to attract people especially their primary customers towards products by asking them about it (Czinkota & Ronkainen, 2004). Google Glass then looks to promote the product through which they will be able to look towards developing strategy through which they are able to sell their products. This will focus on emphasising the features of the product so that based on it the organization is able to develop strategy through which the organization will be able to make customers purchase the product. This will thereby ensure that the overall process will strengthen the process of attracting customers (Czinkota & Ronkainen, 2004). 9. Marketing Strategy for Target Market Two Google Glass to target the primary case has look to develop its marketing strategy through which they focus on highlighting the actual feature that the product has. This has looked to develop a strategy through which the organization has looked to develop a strategy where highlighting the features and making the customer purchase the product so that they are able to develop strategies through which the overall effectiveness can be achieved (Czinkota & Ronkainen, 2004). Further, the marketing strategy for the secondary market should be such that it look to ensure that overall effectiveness can be gained and the manner in which the business is yielding efficiency can be used to attract customers. This will help to penetrate the market and provide an opportunity through which business efficiency gains (Czinkota & Ronkainen, 2004). 10. Positioning Google Glass has looked to position it product differently from other products which are available in the market. Since, the product provided by Google Glass is such where the product is different from others in the market the positioning strategy for Google Glass is different. Still, while comparing the product with other products like smart phones and gadgets the positioning is slightly different and is aimed at attracting people in the higher bracket who have a higher disposable income. 10.1 Positioning Statement Google Glass has developed a positioning statement for its product which says that the product looks to offer a differentiating factor in comparison to other players in the market and looks to attract customers based on different features and qualities which will help to simplify the manner of carrying out different activities. The positioning statement has been developed based on the product offering and the manner in which it will help to attract the different section of the society. 10.2 Perceptual Map Google Glass has looked towards developing the following perceptual map based on the positioning statement which has been developed by the organization. The perceptual map is as The perceptual map highlights that Google Glass has looked towards working on a differentiation strategy and have differentiated their products from the competitors in the market. Further, the perceptual map looks to strengthen the fact that the product is different and is aimed at the upper section of the society due to the distinctive feature and the pricing that the product looks to have. 11. Recommendations Google Glass has looked to position it product differently and is looking to aim at a niche market. Google Glass which is a product different from those available in the market has integrated technology in such a manner that it helps to simplifies live. The organization looks to target people who are lovers of gadgets, students and the working executives who look for similar products. The increasing customer base increases the chances of the product being accepted within the people. The marketing strategy have been developed where the organization looks to highlight the different features of the product and based on it looks to attract people. This will thereby help to create a niche market and will ensure that the overall strategy adopted by Google Glass increases the chances of being successful and increases the market reach. 12. Conclusion The report thereby presents the segmenting, targeting and positioning strategy for Google Glass and the manner in which the marketing strategy has been developed so that the organization is able to ensure best use of resources. This has thereby ensured that the overall working style ensures that the organization is able to achieve its objectives and ensure maximum chances of accomplishing the goals. 13. Refereces Awni, R. 2008. Strategic position indicating. Translated by SeyedAmir Poya seyfzadeh, Management Selected Monthly, 78, 70. Alvarez, B. & Casielles, R. 2005. Consumer evaluations of sales promotion: the effect on brand choice, European Journal of Marketing, 39 (1/2), 54-70. Berkman, H. & Gilson, C. 2001. Consumer Behavior Concepts and Strategies, Kent, Boston Brassington, J. and Pettitt, M. 2001. Principles of Marketing, 2nd Edition, Prentice Hall Bateman, T. & Snell, S. 2004. Management: The New Competitive Landscape. 6th Edition, McGraw Hill, New York Chrisan, P. 2001. Marketing: A Behavioral Analysis, McGraw – Hill. New York Czinkota, M.R. & Ronkainen, I. A. 2004. International Marketing, 7th edn. South-WesternPublishing:Australia. Cateora, P.R. & Mary, C. G. & Graham, J.L. 2009. International Marketing, 14th edn. Irwin: McGraw-Hill. Chew, M.M.M., Cheng, J.S.L. & S. Petrovic-Lazarevic, 2006. Managers’ Role in Implementing Organizational Change, Journal of Global Business and Technology, 2 (1), 13-34 Coughlan, A., Stern, W. & Adl Ansary, E. 2006. Marketing Channels, 7e, ISBN 9780131913462 ISBN 10:0131913468 , Pearson Education Clemons, EK. 2008, ‘How information changes consumer behaviour and how consumer behaviour determines corporate strategy’, Journal of management information systems, Fall, 25 (2), 13 - 40. Academic Search Complete (AN 34879420). Firoziyan, M., Hasangoli, T. & Stiri, M. 2009. Investigation of the effectiveness of the services on different processes affecting consumer decision. Commercial Management Magazine, 1 (3), 125-146. Hawkins, D., Best, R. & Coney, K. 2006. Consumer behavior, compilation of the marketing strategy, Translated by Ahmad Roosta & Atiyeh Botahi, Sargol publication, Tehran. Ismailpour, H. & Ghafarieashtiyani, P. 2002. Marketing, 3rd edition, Auniversity of Tasmania, Australia Ritson, M. 2013. Google Glass Clever Marketing Vision. Retrieved on April 25, 2013 from http://www.marketingweek.co.uk/opinion/google-glasss-clever-marketing-vision/4006110.article Read More