2. Garmin Forerunner 610
3. Marketing Objectives
4. Target Market
5. Psychographic Segmentation / Behavioral Segmentation
6. Positioning the Product
7. Differentiation Approach
8. Marketing Strategy
9. SWOT Analysis …show more content…
As the Forerunner 610 has a feature which can measure their heart rate, they’ll find it as a good tool to keep for monitoring purpose. We believe Garmin Forerunner 610 is a very useful product in the coming yr for many as Sg have been strongly promoting Marathons & Triathlon. People tend to look more into this kind of product to keep tracks & records of their personal performance.
Psychographic segmentation is to target a certain group in a population according to their activities, interest & opinions. Below are the 3 main factors that help to divide a population based on the Psychographic Segmentation:-
Lifestyle = Garmin need analyze the lifestyle, habits or interest of the consumer in Sg as different people have different lifestyle & the consumer behavior may change as they’ll go through a different stage of life. E.g.: Group Y is more concern about the new technologies & Group X are more concern about the user friendly technologies.
Social Class = Garmin need to define which consumers fall in which social classes as this is very important because of the consumers buying power & their spending habits. E.g.: Garmin believe that majority of the age of 25 to 35 buy products based on the perceived fashions & doesn’t care about the prices as they’re affordable.
Personality = Garmin produce the brands that matches the personality of the consumers. The