In the case study article, what market segments were identified and what segmentation strategies were implemented?
Under Armour is a sports equipment company founded by Kevin Plank in 1996. The company targeted mainly men because not as many women were playing sports during that time period. The article explains how the company has changed and that they are shifting its focus more on targetting women. They are wanting to target and appeal to women who believes in mental and physical strength. In March of 2013 Under Armour launched a campaign, “I Will What I want” that was created to celebrate people who spend a lot of time working out at home or in a gym. The campaign was very successful and led to Plank asking “Where do we go from here”?
What do you believe are four to five key points to remember when implementing segmentation strategies?
I think the most important thing is to have done thorough research and understand your analysis. It is important that you have a clear understanding of your plan to get your targeted consumer to purchase your products. It is imperative that your company considers their customer behavioral characteristics, demographics, geographic, and psychograhic in order to fully understand your consumer.
Identify a new market segment that you have noticed recently (during your own shopping experience online, in a commercial ad, or in a secondary resource such as a magazine) that you believe would be a great market to explore. How might you create a segmentation strategy to reach this new market segment?
The first new marketing segment that I’ve been seeing everywhere is crubside pickup. I believe this would be a great market to explore because people are always looking for something quick and easy. Many companies have already introduced curbside pick up during 2020 and have kept it going and personaly I don’t see it ending. I know that offering curbside pick up helps many people like handicap or elderly consumers it also is another way to earn revenue!
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