Identify the marketing segment for the product and explain why this segment was selected.
The marketing segment best suited to the Silly Bandz product at this time is the
The sub-components implemented within this product marketing
segment include: gender, age, and income (Iacobucci, 2010).
The consumer base includes both
genders, toddlers through teens, and all income brackets due to Silly Bandz economical pricing.
Additional segments such as geographic or behavioral can be employed in the future once more
data are available on consumer preferences.
The sub-components implemented within this product marketing segment comprise
gender, age, and income.
Gender is widely used in consumer marketing.
clothing, magazines, toiletries, and cosmetics.
Both genders are included in this segment
because the product is enjoyed by male and females.
Consumer needs and wants change with
BCP Imports can design, package, and promote products differently to meet various age
An example of age segmentation is the marketing of toothpaste (contrast
children’s and adult’s toothpaste).
Finally, income is used by companies target affluent
consumers with luxury goods and convenience services. By contrast, many companies focus on
consumers with relatively low incomes.
Silly Bandz are affordable for all, therefore all income
levels, are included in this assessment.
Discuss the target market and why these customers will be targeted.
The target market is children aged 3 to 17 years and young adults aged 18 to 22 years.
Additionally, the target market includes teachers, coaches, et cetera.
Teachers can hand out Silly
Bandz as prizes for jobs well done instead of the old-fashioned gold star.
Coaches and sports
teams can give Silly Bandz for those who want to identify with a particular sport or team.
These consumers were targeted for numerous reasons.
First, Silly Bandz are
currently a major fad among children (Bhargave, 2010).
As any parent, aunt, uncle, or