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Segmentation, Targeting & Positioning - Case Study Example

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The criteria analyzed for choosing market segments includes who buys the images produced by the artist, what they need, and how often they purchase the artwork. The…
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Segmentation, Targeting & Positioning
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Download file to see previous pages Other criteria that will be considered is the frequency and sustainability of each market: while the need for ornamental art might be erratic, a long-term advertising campaign would provide a much more stable demand and is therefore a more profitable market.
Related products can be grouped initially into “commercial” and “non-commercial.” Commercial products are mostly composed of advertising and similar artwork, which can be further broken up into long-term advertising campaigns, singular advertisements, and miscellaneous items. Non-commercial products would include decorative artwork and illustrated content. Products are defined mostly by the need for the products that are produced by the aforementioned artist. Purchasing habits, as dictated by influences such as socio-economic status, demographics, location, and other psychologically-influenced factors will also be taken into account.
The commercial art would mostly be targeted at business and advertising agencies. As the artist in question has a degree, he is therefore more likely to be hired by an advertising agency or business for long-term campaigns. This makes long-term campaigns the most profitable market, as individual art for businesses can be sporadic. Also, singular advertisements are not so dependent on the stipulation that the artist has a degree, making it a less-profitable, though still primary, market.
Ornamental and content-based artwork will be a secondary market. Ornamental artwork and content-based artwork can be sold to individuals. The price range required in order to make decorative artwork profitable as a primary limits the market to wealthier individuals, but as a secondary market, there is opportunity for smaller works to be offered to culturally-aware individuals throughout the upper- and middle-class. Also, there is significant competition in this field, which makes it a less profitable market. Content-based artwork, which includes web-based art ...Download file to see next pagesRead More
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