Jb Hifi Marketing Analysis
The primary goal of this report is to provide an analysis of the company JB Hi-Fi. In particular the report highlights the industry trends of the consumer electronics retail market as well as focusing on how JB Hi-Fi’s segmentation, targeting and positioning strategies. Consumer behaviour is also analysed using the buyer decision process as well as other factors such as culture being identified as important to JB Hi-Fi’s strategical approach.
The core of the report contains detailed analysis of the marketing mix, competitive situation analysis and use of the PESTLE. These examined how the company creates value in its current environment as well as …show more content…
One of the most important marketing aspects for companies is identifying consumers in which to target their products towards. A model often used to achieve this is the STP model, segmentation, targeting and positioning. According to Fletcher, 2014, segmentation involves dividing the firm’s customer base into clusters to develop a marketing strategy specifically for these groups (Fletcher, 2014). Segmentation can be based on many characteristics such as demography, behaviour and lifestyle (Armstrong, 2015). JB Hi-Fi segmentation strategies are highlighted by the location of its stores being in urban, highly populated areas (JB Hi-Fi, 2015). This is an example of