What is Segmentation?
Segmentation is dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behaviour and who might require separate products or marketing mixes.
In this blog, we will discuss Segmentation for Wrist Watches.
Market Segmentation for Wrist Watches
To accurately target the potential customers, I have segmented them into five types based on the demographics. They are:
- Forever Classy
- Fitness First
- Smartphone Zombies
This segment is comprised of businessmen, who fall into the age bracket of 40 to 60 years old. These men are entrepreneurs, to whom their social status matters a lot. They believe that they get what they pay for and like spending on reputed brands. This segment fits into the target audience for high-end watch brands like Audemars Piguet, Rolex etc.
User Persona of Micheal Pearson
Fitness First segment is mainly for the fitness enthusiasts, who work out regularly and need constant monitoring of their performances like the number of steps they take, distance traversed and calories burned. This segment is ditching their regular watches for Fit-Bits.
User Persona of Jessica Fabian
This segment is composed of trendy people, for whom fashion is the first priority. These people would use watches as accessories, matching with their attire. For them, the functionality of the watch doesn’t matter as much because their main aim is to look fashionable.
User Persona of Christine Miler
They are people who are always using their cell-phones. They want instant notifications and are active on various Social Media platforms. They are updated with the latest technology and like to be aware of what’s happening around them. They need time-to-time updates of what’s going on, hence tend to check their phones very frequently. They replace their watches with Smart-watches that are compatible with their phones, making tasks like texting, answering calls, checking Social Media notifications, making payments etc. convenient for them.
User Persona of Brian Smith
This segment is made up of people who buy products based on their utility. They are college goers, probably working part-time and just want to get a basic watch serving its purpose, i.e. looking at the time. They would buy simple watches and would go for cheaper options.
User Profile of Chris Smith
Facebook Mock Up Ad
Segment Targeted: FASHIONISTAS
The ad targets the ‘Fashionistas’ segment of the Watch market. I chose a picture that shows a girl wearing a watch with a wooden-textured strap and a sap-green dial, which is almost similar to the colour of her sweater. It is a unique watch, and the concept of wooden straps is in vogue, making the ad appealing to this segment.