Market Segmentation Paper
When attempting to segment the market for aftermarket truck accessories in the trucking industry we used a combination of lifestyle based segmentation and psychographic based segmentation techniques that we learned in class. Our segments were based on the results of our needs assessment paper which linked the attributes we identified to the benefits and the values. We came up with a rough estimation of the size of each segment by using the information we collected in our sample to infer what the actual size of the population maybe. We are aware that are sample is most likely biased and not a fair distribution of the segments.
Strictly Business Segment: Estimated size is 20%
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Status and success further associated Protech products to the value of achievement. This connection stemmed from high-end Protech products conveying prosperity of the truck owner which ultimately connected to their life accomplishments. Having expensive, high priced accessories suggests a job well done, success in your business and the financial ability to purchase top of the line products. This further demonstrates Protech’s relationship to being a status symbol. Additionally having a product that is a status symbol can be a critical value because of the social recognition associated with it. According to our interviews, Protech’s products ‘look good’ and looking good is a