GE Middle East Company deals with a variety of business activities in electrical products. One focuses on the industrial and consumer market, demographic profile, psychographic factors, and consumers' behaviors in defining the company segments. Based on the aspects mentioned, the segments available are industrial and consumer market, one considered on light, medium and heavy-duty consumers in segmentation. The demographic profiling factor is concerned with the profiling of customers according to government compilation, for example, through income capabilities, education and occupation of consumers ( Mullins et al., 2013) . Through the analysis, the segments that one outlined are users' status and spending habits. Psychographic segmentation is associated with personal behaviors, for example, power structure and attitude towards risk. The main segments for GE Middle East Company are urban and rural consumers. Behavioral segmentation is associated with dividing customers according to their buying behavior, such as willingness to buy a product. In GE Middle East, high spending consumers are segmented under behavioral segmentation.
The typical decision-making the GE Middle East Company makes is associated with selecting suppliers for each segment should be concerned with multiple segmentation strategy perspectives. The firm should consider the marketing mix for different segments. Notably, in selecting suppliers for different consumer segments, the firm should consider product, price, promotion and place. Notably, the supplier's decision for light consumers should be informed by selective demand, lower cost, and price-incentive promotion associated with the market segment. The decision on suppliers who will engage in medium consumer business will be characterized by selective demand in product mix, their ability to offer low-cost services and their ability to use advertising strategies such as advertising ( Venter et al., 2015) . Heavy-duties consumers' suppliers should be selected based on their ability to engage in selective demand and convince them to purchase products at high prices and good in using sales promotion techniques. On user status, the firm should select the supplier to work in a diversified market, engage in competitive pricing strategies, and be knowledgeable in buyer-based promotion strategy. The urban suppliers should be selected based on their ability to use market niche strategy in product mix, engage in competitive pricing strategy, and engage in personal selling. Concerning spending habit consumer segments, the company should consider suppliers that can offer diversification of the products in the market, understand pricing using competitive ideologies and can apply selective advertising in their advertisement.
Delegate your assignment to our experts and they will do the rest.
Market Segment | Marketing Strategy to reach a market segment | Product Mix Strategy | Pricing Strategy | Channel Strategy | Promotion Strategy |
---|---|---|---|---|---|
Light consumers | Focus strategy | Selective demand | Lower | Leader channel | Price incentive promotion |
Medium consumers | Mass marketing | Selective demand in new markets | competitive | Leader channel | Advertisement |
Heavy-duty consumers | Mass marketing strategy | Selective demand | High prices | Leader channel | Sales promotion |
User Status | Mass marketing | Diversification of markets | competitive | Follower channel | Buyer-based promotion strategy |
Urban | Focus marketing | Market niche strategy | Competitive | Follower channel | Personal selling |
High Purchasers | Mass marketing | differentiation | Competitive price | Follower channel | Specialty advertisement |
Rural | Focus strategy | Market niche strategy | Lower prices | Follower channel | Publicity |
spending habits | Mass marketing | Diversification of markets | Competitive price | Leader channel | Selective advertising |
Q2 Essay
Target Market | Product Features | Style | Brand | Package | Augmented Product |
---|---|---|---|---|---|
Heavy-duty consumers | Intensive distribution | Selective demand | GE Middle East labels | Buyer-based pricing | Installations |
The product mix involves creating awareness of a particular product and making decisions that allow for an individual product's branding. GE Middle East Company deals with electricity products used by different consumers; however, the consumption level is different. By utilizing a product-mix perspective, one will be supplying high-duty consumers such as industries in different parts of the world. The organization will utilize the buyer-pricing technique in their package ( Venter, Wright & Dibb, 2015) . The price model allows the company to target various customers within the same segment in the market. The appropriate price is developed according to the utility of GE products and its features to the customer. Branding the GE products using labels helps in the upscaling of the company's products. To allow for better sales and acceptance by an organization that uses high-duty electrical products, the firm should use private-labels branding due to its price-sensitive feature among the customers. Branding enables the industry to create demand and increase the intensity of the product line ( Mullins et al., 2013) . The stretching of the segment can be further improved through augmented product features. The utilization of the augmented product in the company will further improve the sales in the segment. The organization engaging in installing its products for the client is a great way of increasing its target consumers. Augmentation facilitates distinguishing of GE Middle East products from those of their consumers. As a result, it creates value more than what the competitors offer in a similar production line.
Q3 Essay
Segmentation is a crucial way through which target market behavior can be analyzed. One of the relationships between segmentation and the target market's buying behavior is the creation of awareness. Through the selected suppliers, prices and promotional techniques, the target market's buying behavior is bound to increase since customers will understand they are inclusive in GE Middle East trading activities. Another relationship that exists is acquiring benefits from the company ( Venter, Wright & Dibb, 2015) . The target consumer will benefit from services and products due to solutions and features that characterize each segment. The segments are based on important benefits such as prices and marketing strategies that favor different customers, thus improving their product usage. Lastly, the user status is an important aspect of the target market's buying behavior. Notably, various users will improve their usage of the company's products. For example, heavy-duty companies will use the products of the organization more regularly.
References
Mullins, J. W., Walker, O. C., Boyd, H. W., & Larréché, J. C. (2013). Marketing management: A strategic decision-making approach . New York: McGraw-Hill.
Venter, P., Wright, A., & Dibb, S. (2015). Performing market segmentation: a performative perspective. Journal of Marketing Management , 31 (1-2), 62-83. https://doi.org/10.1080/0267257X.2014.980437