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BHO1171 Target Market Analysis & Market Segmentation

Question Preview:

Discuss: Target Market and segmentation strategy for Electric Car 1. Segmentation based on Geography 2. Segmentation based on Demography 3. Segmentation based on Psychographic 4. Segmentation based on Behavioral...

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Question Preview:

Discuss: Target Market and segmentation strategy for Electric Car 1. Segmentation based on Geography 2. Segmentation based on Demography 3. Segmentation based on Psychographic 4. Segmentation based on Behavioral

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Introduction

Electric cars and vehicles are structured for the ease for the customers in order to make their life easy. On its support we need to check all the details which is favorable for the customers and is the need which is generally noticed and gathered from the customers. Electric cars is the next future of vehicle and automobiles. All the customers are more oriented towards gathering the maximum number of ease and to live a luxurious life. Carmakers have always taken all the aspects into consideration while launching a new model (Hodson N and Newman J, 2009). It is for the best needs of the customers and needs to ensure that all the requirements are met. We need to be assured about the aspects and hence have to be cautious about all the major drawbacks which can be posed, so it is important to understand the need of the customers and understand the market strategy and target market. Consumers are more inclined towards the deal which is proved to be cost effective for them. It is hence for the consideration where all the aspects are taken into consideration when taking new model into consideration. It is hence important to understand how effective it is to deliver the product in a market segment which is more oriented for such automated products. 

Main Body

Globalization has led to advancement in the technology and basic utility of the people living there. We have noticed advancement in the lifestyle of the people and have also seen that while each and every aspect needs to be taken care of vehicle becomes one of the most prioritized option (Larsen. N, 2010). In this scenario when all the issues were addressed we have to take note of every scenario which is essential for the market which is being targeted. We need 

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