Running head: Women on the Go1“Women on the Go”Marketing Plan: Part IIScarlet M. BlandColumbia Southern University
Women on the Go2IntroductionUnderstanding segmentation, the target market, our competitors, the industry, and conducting a SWOT analysis of our business is of the utmost importance. Taking these steps are necessary in the startup of our new company; and are paramount to the success of our business. As you read this essay you will understand why skipping any or all these steps are not an option. You will realize and comprehend how each of these tools, when used correctly, will be an asset to us as we begin the process of building our brand. In this day and age starting a new business is extremely difficult and we will need to utilize every advantage we possibly can in order for “Women on the Go” to be a success. Utilizing these tools will not make it easy but they can minimize the numerous road bumps that we will undoubtedly encounter. Segmentation and Target Market AnalysisMarket segmentation is how we will divide the market. We will target consumers that have a need for our service and a means to pay for it. Women on the Go is a business that offers high end clothing and accessories we need to make sure that we target women who have the needand desire for what we can offer. It is important that we segment our market correctly in order totarget the right consumers. Our company doesn’t have an extensive marketing budget so we need to ensure that we are barking up the right tree. There are four different criteria that are useful in segmenting the market. Geographic segmentation focuses on consumer location such as, cities and states etc. Demographic segmentation focuses age, gender, income, occupation andsocial class. Psychographic segmentation is basically what consumer’s value. And last but certainly not least is behavioral segmentation this segment looks at a person’s behavior patterns i.e. what are they buying and when, (Kotler & Keller, 2016). Applying each one of these segments to Women on the Go will help us identify our target market.
Women on the Go3Geographic segmentation is important to us because we are focusing on upscale high end merchandise. Consumers in states and cities that are more rural than bigger cities like New York or Atlanta do not have a need for our services or products, as they will not be dressing in a highlyprofessional manner in order to go to work. Geographically we will focus our efforts on big cities that have numerous professional women, which have very little time to shop.The demographic segmentation is crucial for us considering the nature of our business. Gender is obviously female, income is definitely on the high end of the scale, and age can vary since there are some women in the professional circle that are younger than the norm but I feel that we focus our marketing on women between the ages of 30-60. Many women in this age group have already graduated college and secured a position in the professional world where they can afford to spend the type of money our products will cost.