With the advancement in technology, marketers today are able to tailor the product as of their customer needs. Based on the data available it has become easier than ever for marketers to recognize their target audience. Costumers also have become accustomed to this marketing behavior and expect the companies to deliver their specific needs. Understanding customer needs in consumer market is a difficult process but very vital for marketers. Markets must be able to identify individuals with common characteristics and segment them from the total market.
CarMax buyers can be segmented as following:
• Student Buyers: Most of the students tend to buy used car for economical reason. These group of buyers are usually young, and buying their first car. The age group ranges from 17-30 years old male and female. They are looking for flashy, fast, sporty cars for a reasonable price. CarMax is perfect option for them as it offers used car at competitive price as ease of their fingertips.
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These groups of people are not buying their first car, so they tend to spend more money and look for a luxury and a safe car. Retried buyer wants comfortable, nicely equipped vehicles at a reasonable price. They will want a vehicle that will last for years and more.
• Single Buyers: These group of buyers might be single students or single working professionals. Single students are most likely to buy an economical car for their needs, while working professional would buy a flashy, fast car as money don’t seem to be an issue for this group.
• International Buyers: These groups of buyers are usually buying their first car. So they tend buy the car from the place recommended by their friends and family. Since CarMax provided full Service car buying experience, buyers who buy car at CarMax tend to go back and bring their families and friends with them. These groups of people are usually looking for an economical and safe
CarMax buyers can be segmented as following:
• Student Buyers: Most of the students tend to buy used car for economical reason. These group of buyers are usually young, and buying their first car. The age group ranges from 17-30 years old male and female. They are looking for flashy, fast, sporty cars for a reasonable price. CarMax is perfect option for them as it offers used car at competitive price as ease of their fingertips.
• …show more content…
These groups of people are not buying their first car, so they tend to spend more money and look for a luxury and a safe car. Retried buyer wants comfortable, nicely equipped vehicles at a reasonable price. They will want a vehicle that will last for years and more.
• Single Buyers: These group of buyers might be single students or single working professionals. Single students are most likely to buy an economical car for their needs, while working professional would buy a flashy, fast car as money don’t seem to be an issue for this group.
• International Buyers: These groups of buyers are usually buying their first car. So they tend buy the car from the place recommended by their friends and family. Since CarMax provided full Service car buying experience, buyers who buy car at CarMax tend to go back and bring their families and friends with them. These groups of people are usually looking for an economical and safe