How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Mohammad Ali Your Own Question

Mohammad Ali
Mohammad Ali, Accounts & Financial Advisor
Category: Finance
Satisfied Customers: 370
Experience:  Qualified Cost & Management Accountant, with 2 years experience in Financial & Audit Services
15717079
Type Your Finance Question Here...
Mohammad Ali is online now
A new question is answered every 9 seconds

Identify the segmentation criteria that will impact your target

Customer Question

Identify the segmentation criteria that will impact your target market selection. The selected organization for this assignment is Tesla Motors, a California based manufacturer, producing electrical/gasoline vehicles exceptionally designed, with high performance and efficiency.

Whom ever is prompt with a response I will definitly ACCEPT
Submitted: 5 years ago.
Category: Finance
Expert:  Mohammad Ali replied 5 years ago.

 

As Tesla motors produce innovative and highly efficient cars, the normal market segmentation techniques will not be of much use since they always trigger the market of conventional, generic products. The aim is not to please everyone by engaging in a mass marketing campaign; rather we have to use the target marketing strategy if we want to have an impact in the market. This would involve:

  • Differentiating the attributes of the target customers from the mass and uniquely measuring them
  • Making sure our customer segments are reachable through communication
  • Ensuring our customer segment is large enough to justify the resources being used to target them
  • To provide the segment with products that satisfies its needs.

But for all that to happen, we have to IDENTIFY the segment first, and for this purpose, we shall use two main types of techniques:

  • Psychographic segmentation,
  • Behaviorist segmentation

The two methods are explained below:

1. Psychographic segmentation

This method groups customers according to their lifestyles. Activities, Interests and Opinions (AIO) surveys will be used to measure lifestyle. Some variables that may be measured and their examples are:

Variable

Example

Activities

Are customers happy with their daily commuting in existing cars, or do they think they deserve something better?

Interests

How interested are customers in a product that literally minimizes their traveling cost to "pennies"?

Opinions

What is customer opinion on the introduction of clean, GREEN cars?

Values

Do customers want a "clean and green" future or do they value "Bigger is better" as part of their status symbol?

Attitudes

Does a customer really care about economy, efficiency and effectiveness or they just "simply don't care"?

2. Behaviorist segmentation

This method is based on actual customer behavior towards the product. Some variables that may be measured and their examples are:

Variable

Example

Benefits sought

Customers may be enticed by the extremely low operating cost of the cars, for example the $0.30 per mile cost for Tesla Cars

Usage rate

Customers may notice the cars do as good as a conventional car, doing up to 300 miles for a single recharge!

User status

First time users have to be informed of the amazing acceleration of the car (0-60mph in under 4 seconds) to generate interest

Readiness to buy

Customers have to be targeted who wish to have acceleration just like sports cars, coupled with low operating cost and environmentally friendly driving.

 

 

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    2073
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
< Last | Next >
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    2073
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    1890
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    1755
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg JKCPA's Avatar

    JKCPA

    CPA

    Satisfied Customers:

    838
    Bachelors degree and CPA with Accounting experience.
  • http://ww2.justanswer.com/uploads/starside8/2010-2-16_55433_DSCN1175.JPG Eric's Avatar

    Eric

    Financial Manager

    Satisfied Customers:

    558
    Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg R. Klein, EA's Avatar

    R. Klein, EA

    Accountant

    Satisfied Customers:

    397
    Intuit Ask a Tax Expert. QuickBooks Certified Pro Advisor (all editions)
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    324
    NASD Licensed Rep, 1997-2001, Business Attorney
 
 
 

Related Finance Questions

Chat Now With A Financial Professional
Mohammad Ali
Mohammad Ali
89 Satisfied Customers
Qualified Cost & Management Accountant, with 2 years experience in Financial & Audit Services