Marketing Plan

Jasem Abdulwahab 14451

Ahmed mohammad 13836

Mohammed Abdullah 14153

Marketing for Small Business ( MRKT 401)

Assignment 4 (Market Segmentation).

Task:

· Characterize at least two of the target markets for your project using the segmentation criteria discussed in class (review document entitled Market segmentation and targeting” by Shikhar Sarinand.

· charactestics of segmentation criteria:

Measurable: our objective is to service 10,000 users a month

Accessible: We can reach our segments by using the application and social media platforms to market and advertise our services and register users to our application software.

Substantial: we will insure that we provide the best services to our customer to make them satisfied.

Responsiveness: The customers will response because the Kuwaiti income is high, and the average life cycle for (Clothes, Shoes, Accessories) in Kuwait is between 1-2 years, so we will get a great chance that customers will use our platform to sell unwanted items.

Segment 1 (consumers with high monthly income):

Kuwaiti’s and non-Kuwaiti’s (high monthly income)

Gender: For both males and females.

Age: 18 years old and over.

Income: 1300 KD per month and above.

Value: It will have a value for customers who don’t want their money to go to waste and would rather sell their (clothes, shoes, accessories) rather than store or donate them.

- Brand loyalty: We are focusing on trendy items luxury items that have good re sell value.

Segment 2 (consumers with low monthly income ):

Kuwaiti’s and non-Kuwaiti’s.

Gender: For both males and females.

Income: 500 KD and below

Value: It will have a value for customers who cares about the prices of the items they buy that have no problem buying used clothing or shoes or accessories for lower prices when they couldn’t offered it during retail prices .

· Who is most likely to purchase the product/ service? Use at least three segmentation criteria e.g. demographic, behavioral (by usage rate), psychographic, AIO (Attitudes, Interest and Opinions). (not only demographic).

· Demographics:

· 18 years old and above.

· People with 500 to 1500 KD income.

· Both genders.

· Psychographic:

· People who don’t care about buying used items.

· People who likes luxurious items for low price

· Behavioral:

· Usage rate: Depends on the buyers and sellers rate of re selling or buying

· Benefits: for people who are looking for good service and low prices and resale value for items not used .

· How often do they buy (behavioral segmentation)?

Each month teenagers or adults spend their salary on luxury shopping and tend to use for a few weeks and move on to another item the next month life cycle from 1-2 years, so they store or Dontae or throw away un wanted items.

· What percentage of the public can be classified as nonusers, light users, or heavy users?

we have official report that shows that the population in Kuwait can be categorized as the following:

0- 14 years old 27.2 % (NON USERS)

15 – 64 years old 70.1 %

65 years old and above 2.7 %

· What are their core needs?

· Consumers that are looking for good resale value for the items they no longer use .

· What do they typically buy (what benefits do they buy (Benefit segmentation)? bear in mind that women do not buy cosmetic creams but beauty, social acceptance, etc.)

Luxury, good services, trends and all what is considered the top of the market sets value to people these days to satisfy their wants more than their needs in order to keep social status in the community ( it gives a good luxuries look and reputation to the consumer).

· Where do they buy it?

It is only available in our application.

· How do customers find out (what are the media they read or watch)? about and decide to purchase the product?

· Our Application.

· Social media platforms. (we will focus on Instagram because in Kuwait it has the largest number of viewers between all the platforms)

· TV.

· Radio.

· When and where (retailers? Which ones? Online, social media)?

Our application is the only place customers can buy and resell from and we value our services.