Potential Segmentation
The behavioral, demographic and psychographic approach are the best to this marketing plan. terms of behavioral approach, the loyalty of the customers is based on making the product appealing to the potential buyers by raising interest. People are becoming conscious about health hence find ways to maintain body fitness. Awareness of the trends such as benefits of cycling is a factor to place under considerations classified as either aware or not aware of the products.
Demographically, in terms of gender, men are more concerned with their body fitness that they purchase bikes more than female counterparts. Moreover, age is an important factor as the youthful population has the energy to cycle compared to the aging population. Moreover, there are middle and upper classes of time as they are more concerned about exercise as a way of keeping their bodies standard. Don't use plagiarised sources.Get your custom essay just from $11/page
Psychographically, lifestyle is a critical consideration as people living luxurious lives sees cycling as the only method for exercise. Also, the enjoyment in people when going out is a consideration as people who like staying indoors are more likely to purchase the bikes as a way of keeping them engaged
The Peloton bike targets consumers with busy work schedules who have challenges leaving work in time to attend cycling classes. The bike and program are designed to provide interesting, addictive, and efficient technology for this target audience at consumer-friendly prices. Clients committed to their fitness are presented with an opportunity to obtain an instant indoor exercise bike from Peloton.
Criteria for Evaluation of Segments
(prompt: Once the potential segments are derived, discuss what criteria for evaluating the segment attractiveness have been used to select the final/chosen segment(s). Clearly substantiate the criteria that you have chosen and use available statistics on market size, market growth etc)
1/ Busy work-life customers
2/ Interested in cycling
3/ Committed to fitness
Targeting Strategies
(prompt: How will you target the chosen segment(s) and what targeting strategy will be used and why?)
1/ Busy work-life customers
2/ Interested in cycling
3/ Committed to fitness