2-1 Blog: Under Armour: Where Do We Go From Here? The market segments that were identified were the Men’s line of sporting clothing, and the women’s line of sporting clothing. The segmentation strategy that was implemented was the focus on the women’s apparel called “I will what I want” campaign. The campaign used social media to gather the attention of women that aspire to do more, and to be the best, no matter the odds. The campaign was a success, and led for the company to expand in other segments to achieve the same results. I believe that there are many key points to remember when implementing segmentation strategies. I can think of five examples such as: 1. You need to know your target customer. To properly create segments of business that require different focus, one needs to know the type of customer that is shopping there. Segmentation directs focus to the right customer with specific needs. 2. Understand that each segment will differ in the approach that is needed to close the sale. Each segment may differ in how they sell the same product. Even the retail price may be different in each segment of business. 3. Dividing business into segmented strategies highlights opportunities for growth. It caters to the specific wants and needs to a targeted customer that may not have the same tastes or wants that other customers may have that shop in other segments. You would not go to a dance studio, and expect to be able to sell them a propeller to a boat. 4. Another point to remember when implementing segmentation strategies is to approach each segment differently, but with the same outcome in mind. 5. Segments may differ based on the demographics, and also geographic locations of the consumers. Some things that sell very well in the city, may not do so well in the country. A new market segment where I think that there is a calling for, is more apparel that would target the high intensity thrill seekers that move in one day from mountain biking, zip lining, parachuting, and so on. A line of clothing that could handle the pressures of a high impact environment would be very attractive to enthusiasts. I would call this segment the “adrenaline line”, with a strong focus on the young, outdoor, thrill seeking consumer that only wants one type of clothing to fit many different needs. I have seen an increase in businesses opening that specialize in all of these activities, and have stores on premise that can serve as outlets for the customers to purchase the product directly. References: https://cb.hbsp.harvard.edu/cbmp/product/UV7147-PDF-ENG

I am an analytical consumer. I like to research what I am looking to purchase to make sure that I am getting the best value. After all, one never wants to settle for less! I usually look at the price first, then dig in a little further to see what the benefits are of the specific product that I am interested in. I found that if I made an impulse purchase without any research that I may have paid too much for it, and it may not be the best quality compared to other items. I tend to use the internet to influence my buying decision by doing extensive research. I will look at the company’s website to review the product, then at other sites like eBay that may offer it as well to see what the price, and reviews are. I tend to look to find what the most popular product reviews are saying about the product, and if they are similar results to one another. I also will ask friends, or family that have made similar purchases, for what they felt about it. This is usually if it is a larger purchase, like a computer, or car. I compare the price, and the reviews, which ultimately lead me to making my purchasing decision. Marketing research is very important for any company to fully understand their target consumers. Marketing research helps to pinpoint the best approach to market a specific product to the consumer for which it was intended. I am sure that a company’s marketing research had an effect on me, and I did not even realize it. For example, I just bought my youngest daughter a cell phone for Christmas. At the ATT store they offered a free I-pad mini with the purchase of a new cell phone, and two accessories such as a case, and a screen protector. I am sure that the marketing research, and marketing design for the company showed that a special like this lead to an increase of sales that was enough to offset the cost of the I-pad mini. My wife and I love our new I-pad mini. Marketing research and design certainly helps to influence a buying decision. I have experienced post purchase behavior in the past. I thought about making a specific purchase, but after I did so, I had a feeling that I made the wrong decision. I usually stick with my original decision, but I have changed my mind in the past. That does not happen very often at all.