Sunday, December 12, 2010
Segmenting and Targeting Markets
Market segmentation is the selection of groups of people who will be most receptive to a product. The most frequent methods of segmenting include demographic variables such as age, sex, race, income, occupation, education, and household status. Nike's segmenting market typically target's athletes, both women and male generally from the ages 15 to 35. Nike's targeting market is active people who enjoy high quality sporting goods, especially footwear. To do so Nike focuses on creating premium consumer experiences on product innovation, brand leadership and elevated retail presence. Nike is targeting further geographic expansion and farther marketing penetration in all regions. Though disciplined operating management, the company still continues to target long range mid teen earnings per share growth.