Examining World Market Segmentation Brand -Myassignmenthelp.Com

Question: Discuss About The Examining World Market Segmentation Brand? Answer: Introduction Timbre Group has several offerings as live music venues at several locations, food and beer delivery, music education, music and artists agency and also organizes festivals(Sharma 2013). The group runs some of the most successful bars and concept based eateries in the country. The group has been hinting at a social change within the hospitality business market. Markets analysis of China as per Euromonitor reveals that food industry will become more dynamic with faster growth as compared to current value. Rising disposable income amongst Chinese consumers with premiumisation factors reveals is bound to drive sales in the food industry. Consumers in China exposed to greater levels of stress with fast lifestyle are more eager to go to listen to music, artistry performances or consumer food. As demand from food and live music increases segmentation present within the market is expected to further support rising demands into a virtuous circle. Shanghai is a developed city within China offering a host of business opportunity along with rising tourists spots(Hassan 2012). It is known to attract foreign regular tourists as well as business purpose visitors throughout the year that further helps splurge demand for food and other products offered by Timbre. Customer Profile and Demand Analysis Markets in China have been booming in recent times with capability of its product penetrating world markets. Shanghais GDP has been increasing by 7.0% every year with Rmb 2,366.1 billion reaching in 2014 alone. It shares a proportion of 3.7% of the GDP from the entire country. Shanghai has been topping the chart in fixed asset investments, export and import values, total retail sales related to consumable goods and utilizing foreign investments. The citys consumption pattern has been driving growth in neighboring areas as well. Shanghais domestic consumption pattern has changed greatly in the recent years with immense influx of foreigners in the country. Consumers with increasing disposable incomes are inclined to purchase good and quality food as well as music that comes at good offering. Chinese consumers have been growing tendencies towards Westernized lifestyles with inclination Chinese companies. Moreover, robust population of China, especially in Shanghai makes it more promising for businesses as Timbre to flourish in the region. Product offerings of Timbre are comparable to current changing lifestyle and behaviour of the young generation within the city. Demand patterns of young generation including office goers greatly match to the services that are offered by the Company, hence there is a great scope of success for the business. Geographic Segmentation Shanghai is a vast city that has been divided into northern, southern, western and eastern parts. Profiles of commercial districts within the city includes Nanjing West Road, Nanjing East Road, Sichuan North Road, Xujiahui, Zhonghuan (Zhenbei), Huaihai Middle Road, Xiao Lujiazui - Zhangyang Road, Yuyuan Tourist Mart,Wujiaochang, International Tourism and Resorts Zone, Zhongshan Park, Hongqiao Business District, and New Hongqiao Tianshan. Daning and Zhenyu. Amongst all these commercial localities Nanjing Ear Road is regarded as Chinas No. 1 Shopping Street. Most of the popular international brands as well as well-known hoteliers are based across these localities. These places have integrated consumer area that caters to diversified consumer needs of entertainment, business, fashion, shopping, dining and other experiences. Shanghai area is bound to offer the business with immense potential for growth and expansion related to the business. Demographic Segmentation Shanghai has a robust population of 24.26 million as per 2014 which was depicted to increase by 36% from 2005 when it was at 17.78 million. Amongst the population share 41% accounted for Shanghais permanent population with the rest being population which was primarily out-of-province. Though during recent times, there has been a dip in Shanghais population across its 17 districts, but it has been noted that most of the population went on to suburb(worldpopulationreview.com Retrieved on 17th March 2018). Population consisted of male being 52% share of the total, rest being female. The best part of the demographics in Shanghai is that majority consist of young age population, with less than 10% population being aged 65 years or more. Education level of permanent population in Shanghai were only 22% university level, 21% having senior school education with rest being junior or primary school education levels. Population within Shanghai comprises of residents, workers, entrepreneurs, business travellers and tourists from overseas location. With high levels of variety within consumer occupation, habits an income levels consumption needs also vary. High amounts of disposable income amongst city residents and increasing number of young population makes price not the main consideration for consumption rather enjoyment and development. Narrowing trend amongst eastern Chinese population and westernized culture has been seen to be narrowing which makes mainstream consumers attracted to varied food, entertainment and music. Psychographic Segmentation Timbre had been responsible for changing behavioral patterns amongst consumers, as earlier they used to have traditional Mandarin-English live music changing to live jazz-blues music. Their focus is to keep innovating and surprising their customers on their service and product offerings, which helps them to attract consumers(Times Retrieved on 17th March 2018). Detailed segmentation of Shanghais consumer profile reveals diversified types of consumers with increasing purchasing power. Individual demand from high-end consumers are greatly enhancing which makes service quality and brand names being integral part of service disposition. Shanghai has been offering a destination for international brands and choices from where a consumer can select from. Therefore, quality oriented brands have high likeliness and possibility to establish their businesses there. References Hassan, S. S., Craft, S. "Examining world market segmentation and brand positioning strategies. ." Journal of Consumer marketing, 2012: 344-356. HKTDC. "Shanghai: Profile of a Consumer Market." https://china-trade-research.hktdc.com/business-news/article/China-Consumer-Market/Shanghai-Profile-of-a-Consumer-Market/ccm/en/1/1X000000/1X0A3FYT.htm, Retrieved on 17th March 2017. Sharma, A., Lambert, D. M. "Segmentation of markets based on customer service. ." International Journal of Physical Distribution Logistics Management., 2013. Times, The Straits. "The Life Interview with Timbre Group's Edward Chia: Changing Singaporeans, one tray at a time." https://www.straitstimes.com/lifestyle/entertainment/the-life-interview-with-timbre-groups-edward-chia-changing-singaporeans-one, Retrieved on 17th March 2018. worldpopulationreview.com. "World Population Review." https://worldpopulationreview.com/world-cities/shanghai-population/, Retrieved on 17th March 2018.