BUS350 assignment 1 - Grade: 19/30 PDF

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Kill Kapture case study

Kill Kapture is renowned

Kill Kapture approaches the demographic by grouping together similar characteristics and needs of their target consumers into different categories, according to the similarity manner of response to a particular product which is known as market segmentation. Target market is the end consumer in which the company would like to retail their products to. 1. The approach of grouping similarities of characteristics and needs of consumers, into various categories, according to the homogeneity manner of reaction to a specific product, is known as market segmentation (Walker et al., n.d.). Target Market is the end consumer where the company wants to sells its products and services to. The 4 bases of Segmentation are Demographic, Psychographic, Geographic and Behavioural. According to (Tynan and Drayton, 1987), Demographic Segmentation consists of dividing the market into groups on the basis of demographic variables such as age, sex, socio-economic group, family size, life cycle, income, occupation and education. In the context of age, some products can only be use by people of certain age but not by people who are underage. Kill Kapture aims at 30-40 years old and also veterans of uniformed groups as occupation of the demographic segmentation. Psychographic segmentation on the other hand is able to identify product preferences, but it cannot be easily related/assigned to marketing variables (Walsh et al. 2001). For example, personality or influences can affect the purchase decision. A strong sense of belonging and values of being a veteran is part of their personality and that preserving their values is important. Behavioural Segmentation is based on Consumer’s buying patterns, Product purchase is an acceptable behavioural form by which markets can be segmented. In doing this, light, medium and heavy purchase (or volume) differences are identified and subsequent examination attempts to differentiate user characteristics (Thomas and Pickering 2003). Geographic Segmentation is a rather useful concept in consumer theory. Different parts of the world have different kinds of cultures, characteristics and resources. Therefore, by using geographic segmentation, it allows us to divide the markets based on different country and cultures. For example, people from India loves spices as ingredients but however people from other country may not like it. Based on the case study, the target markets of Kill Kapture are veterans who previously from uniformed. The demographic characteristics of the target market are: 1) They are age from the range of 30 – 40 years old. 2) They have high disposable income 3) Strong Loyalty 4) Influential word of mouth referrals

2. Psychographic Segmentation accept that consumers are different individuals with unique characteristics, perspectives on life and therefore decision making process. It uses lifestyles, personality characteristics and social class to categorize consumers (Baker and Burnham 2001). According to the VAL 2 segments, Kill Kapture falls under the Thinkers segment as mature, satisfied, reflective, and knowledgeable, open minded and value order. As the target market of Kill Kapture are mostly veterans from the uniformed personnel who values order and are matured, knowledgeable person. Similarly, Kill Kapture’s tagline ‘Tough Luxury’ whereby the word tough closely linking to their heritage. Psychographic characteristics, considered reflections of self-concept, are expressed through lifestyle; thus, knowledge of consumers’

lifestyles can help marketers understand consumers’ motives, feelings, and beliefs (Gao et al. 2009). Also, with the combination use of demographic and psychographic characteristics allows Kill Kapture to better define their target market. For example, after using demographic segment to break down the markets that the market are range 30 – 40 years old, Gender and that they are mostly Veterans. After which it can be further break down using psychographic segment whereby out of the aforementioned demographic variables, the target market can have different personality, lifestyles. For example, different people of different gender and age have different lifestyles and attitudes, some may purchase the pathfinder jacket to preserve the strong sense of belonging to their heritage of being a uniformed personnel before while some may have different purpose of having the jacket such as for fashion purposes. These further breakdown can assist Kill Kapture in better defining and understanding of their target market. According to (Peltier, Schibrowsky and Schultz, n.d.), traditionally, marketers have relied on demographic information and perhaps some group-level psychographic data collected via survey research. Self-Orientation is based on how consumers seek and obtain products and services that provide fulfilment and shape their personalities. Self-Concept can be defined as a person’s expectations and descriptions of one self. According to (Pajares and Schunk 2011), Self-Concept is defined in terms of the cognitive appraisal one makes of the expectations, descriptions, and prescriptions that one holds about one's self. The target market of Kill Kapture are status-oriented consumers where they shop for products that demonstrate or portrait the success of the consumer. In Kill Kapture case, all the veterans were once successful uniformed personnel and by wearing the product of Kill Kapture with the tagline of ‘Tough Luxury’ showcased their tough and successful heritage.

3. Target Marketing helps developing effective marketing communication strategies. A target market is individuals sharing similar needs or unique characteristics that a company hopes to serve. These individuals are usually the end users and are most likely to purchase your product. There are three types of targeting strategy: 1) Nichemarket strategy 2) Mass-market strategy 3) Growth-market strategy Niche-market strategy includes at least one segment that are not the largest but have loyal customers that seek specialised advantages from a good or service. Niche markets Strategy are usually distinguished by isolating a section into sub sections and that the key issue in specialty showcasing is specialization (Parrish, Cassill and Oxenham 2006). Mass-market strategy ignores any segment differences and come up with one product or marketing program that interest to the biggest number of purchasers. Also, mass-market can design separate products and marketing program for the different segments. Established firms should, instead, concentrate on what they are good at such as consolidating young markets into big, mass markets. Lastly is the Growth-Market Strategy. Businesses that adopts a growth-market strategy focusing on at least one or more fast-development segments. This strategy favoured littler organizations, assisting them to stay away from face to face encounters with bigger companies. Kill Kapture’s target strategy is more towards Niche-Market Strategy as they not only adopt demographic segmentation with the age group of veterans at the range of 30-40 years old but psychographic segmentation as well by understanding the Veteran’s close link to their heritage in which will make them purchase the product to serve as a showcase that they were veterans of the uniformed personnel.

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