What Are the Different Methods You Would Advise the Adam Art Gallery to Use in Segmenting Its Market?
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What are the different methods you would advise the Adam Art Gallery to use in segmenting its market? Although all segmentation methods are useful, each has its unique advantages and disadvantages. For example, the geographical segmentation and demographical segmentation are easy, but these two methods cannot determine their customers’ needs. Therefore, in this case, I will recommend a combination of segmentation methods that is called Geodemographic segmentation. This method would be the best one that combines the advantages of demographical segmentation and geographic segmentation. This market segmentation method can easily classify local consumers by demographic, geographic and lifestyle characteristics. The reasons why I believe the method is the most suitable for the Adam Art Gallery are: firstly, the Adam Art Gallery’s marketing budget is limitation. Secondly, this gallery want to attract more local students, staff and the community to visit it. The second method that I will recommend to the AAG is called Behavioral segmentation. This method should identify loyal customers and their characteristics. Then the AAG can retain its loyal customers.What are the advantages and disadvantages of making use of an existing industry specific segmentation study such as that provided by Oxigenmedia?On the one hand, there are several advantages of making us of an existing industry specific segmentation study. Firstly, companies can be easily to get the information about their core customers without paying any efforts such as energy or money. Secondly, the data will be accurate, precise and reliable, because the data is provided by professional institutes or agencies such as Oxigenmedia. Companies can use it without any risk.
On the other hand, the disadvantage of using data provided by professional institutes is that companies may make wrong decisions. For example, the data provided by Oxigenmedia is who the customers are, but this data does not help companies to determine their customer’s needs and companies is facing a variable marketing. Therefore, companies may formulate a wrong marketing strategy based on the data. Based on the information provided in the case and your own marketing insight, devise three or four market segments that you think would be applicable to the Adam Art Gallery. Which would you recommend it target? Consider the variety of targeting strategies.the AAG’s customers and potential customers can be classified into three segments:People interested in other related areas, such as media studies, film and the environment.University students and staffLocal communityI recommend that AAG target on group B: university students and staff, because AAG can easily know who they are and where they are from and their needs. Then AAG can make a proper marketing strategy with very less effort based on that information to obtain a huge profit.