Research Paper on "Market Segmentation and Product Positioning: A Sporting"

Research Paper 4 pages (1207 words) Sources: 4

[EXCERPT] . . . .

Market Segmentation and Product Positioning:

A sporting goods and apparel shop for equestrians

Pursuing sporting activities has become more expensive than ever before. The economy is contracting, yet the prices of coaches, gear, and the cost of living is going up. Many people find themselves forced to choose between the pursuits they love and paying for basic necessities. One of the most expensive sports is horseback riding. The proposed sporting goods store would offer a full-service riding and horse care store, with a special service of designing custom saddles and boots. However, it would also offer a consignment shop for horse show clothing, boots, and other tack, as a way of attracting budget shoppers. Also, some horse enthusiasts prefer second-hand boots and saddles as they are already 'broken in.' The proposed enterprise would thus cater to two distinct demographic segments within the riding market.

Identify the marketing segment for the product and explain why this segment was selected

The economic marketing segment for the proposed store is extremely wide within this narrow demographic, encompassing both high-end and low-end horse enthusiasts. Higher-end shoppers could patronize the custom-made section of the store, while lower-end consumers could avail themselves of the second-hand items. However, because riding and keeping horses are so expensive, there would be considerable cross-over between the two areas. Very few people are wealthy enough not to want some sort of a 'deal' on boots, saddles, and apparel. However, they would also be able to purchase new items if they desired. Also, some lower-end consumers might wish to buy one luxury item, like a custom saddle, given that such items last for many, many years.

The store would target higher-end consumers with its service of customized saddle and boot manufacturing. For very competitive equestrians, finding the perfect gear that works with their body and the body of the horse is essential. They are willing to pay premium prices due to the fact that they have already invested so much in a show horse, they want nothing to go wrong with their equipment. Yet as well as horse owners and competitors, the store would also attract ordinary equestrians shopping for boots, saddles, breeches, and other items necessary to pursue their hobby and thus have a broader outreach than a very narrow economic segment within this hobby.

Discuss the target market and why these customers will be targeted

The target market for this store will be multifaceted. The primary target will be equestrians seeking show gear in the form of customized saddles or high-end second-hand saddles. However, along with the 'luxury' image of the brand, there will also be an attraction for less affluent equestrians to buy second-hand saddles of slightly lesser quality or new, non-customized saddles. Although in some sporting categories there needs to be careful delineation between luxury and bargain merchandise, in the case of equestrian items, this is less dramatic. All consumers must have a certain income level to participate in the sport, although there is a range between casual riders and serious, professional riders. Said one rider: "horseback riding is an expensive sport, and if either she or her husband were to lose their job, she said, the horses would be the first thing to go" (Powers 2009).

Because of the nature of the sport, a rider also cannot go too 'cheap' given that flimsy boots, saddles, and helmets will not pass required safety standards. On the other hand, because of the expense of the sport and the nature of the product (leather saddles) as well as a lack of 'faddishness' regarding traditional styles and cuts, second-hand merchandise as well as customized… READ MORE

How to Reference "Market Segmentation and Product Positioning: A Sporting" Research Paper in a Bibliography

Related Research Papers:

Marketing Places and Spaces Essay

This consistency does have its detriments. The serious tone and images might be worrisome for families looking to entertain hyperkinetic children, despite the occasional use of an explanation point and… read more

Essay 5 pages (1846 words) Sources: 2 Topic: Advertising / Marketing / Sales

---

Segmenting the Market Target Marketing Products and Prices Essay

Segmenting the Market, Target Marketing, Products and Prices

The practice of marketing segmentation is extremely useful for all organizations as it helps them identify the target market, or the audience… read more

Essay 2 pages (643 words) Sources: 2 Style: MLA Topic: Advertising / Marketing / Sales

---

Product and Target Market Description Promotion Strategy Book Report

Product and Target Market Description

Promotion Strategy

Pricing Strategy

Marketing Mix adjustment strategies

In this report, we present a detailed integrated marketing communication report for Volkswagen CC. It covers the… read more

Book Report 10 pages (2875 words) Sources: 15 Topic: Advertising / Marketing / Sales

---

Sports Marketing Nike's Marketing Strategy Thesis

Nike's Marketing Strategy

Nike, the world's largest athletic wear company, has developed a sophisticated marketing strategy that supports its vision of inspiring athletes. At the core of their strategy is… read more

Thesis 5 pages (1643 words) Sources: 12 Style: APA Topic: Advertising / Marketing / Sales

---

Market Segmentation in Delivering Market Strategy for Sony Electronic Products for B2C Thesis

Sony Corporation is a global leader in the consumer electronics industry. With more than a half century of experience, the company is often on the leading edge of technological developments,… read more

Thesis 20 pages (5507 words) Sources: 8 Topic: Advertising / Marketing / Sales

---

View 100+ more related papers  >>