Kheils Marketing Segmentation Essay

783 WordsMay 14, 20144 Pages
Positioning Keihls product line is considered to be positioned as STARS in the BCG matrix (Appendix 1). strategicmanagementinsight.com(2013) describes the BCG matrix as ‘a framework used to evaluate the strategic position of the business brand portfolio and its potential. It classifies business portfolio into four categories based on industry attractiveness (growth rate of that industry) and competitive position (relative market share).’ The product range have a high market share in the fast growing skincare market. The keihls product line is considered strong in comparison to its competitors within the skin care market. Market Analysis and Segmentation According to Kotler(2003) ‘a market segment consists of a large identifiable group within a market, with similar wants, purchasing power, geographical location, buying attitudes, or buying habits’. So for the purpose of this report segmenting the male skincare market within the UK is vital as it allows the marketer to identify which group or groups they believe are the most attractive to the organisation. ‘Moore. K et al(2005). Segmenting the market can also help with meeting customer needs better, retaining customers as well as identifying growth opportunities. Research conducted suggests that men’s skincare is the fasted growing category within the beauty industry worldwide and the men’s skincare market has grown 18% since 2006 and will expand by another 23% by 2015. Spa Finder trends(2013) In addition to this, Marketing week(2013) states male consumers account for 25% of Kiehls sales, with continuous growth of 34% year on year. For these reasons in order to gain understanding of the UK male market in relation to skin care, a segmentation table has been created which illustrates a breakdown of the target market in regards to profile, trends and behaviour.( Appendix 1) The market segmentation table

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