Fujifilm Market Segmentation, Essay Example

Fujifilm Marketing Strategy: Fuji film looks to expand its market by getting into the American market and tapping into competitive environment to create its own market niche. Fujifilm’s can employ the market STP process to realize its marketing goals.

The market STP (segmentation, targeting and position) process is a vital component of understanding the market in which a company wishes to launch its product and/or services. The STP process entails 9 crucial and fundamental steps (Crane). These are depicted in the diagram below.

Demographics

The product will aim to attract people of the 19-24 age group.

• Age: attract individuals of the 19-24 age group with different sales pitches
• Gender: attract individuals of both genders using similarly different sales pitches

Psychographics

• The product will aim to attract people with different lifestyles defined by AIOs (activity, interest and opinion):
• The young traveller and nature enthusiast
• Young family’s looking to capture their memories.

Product positioning will be achieved by focusing on the unique traits of innovative Fujifilm products. This will help set apart the commodity as unique and different from what is already offered in the market. The product will marketed based on the user’s ability to generate and capture moments of fun and joy with their friends and family. .

The consumer decision making process for purchasing this good can be classified as routinized response behaviour. This is owing to the fact that the product mostly appeals to the consumer who seeks to create a routine by utilizing the product. This is the main strength of the product, helping the consumer create a routine by providing the essential tools and information for the customer to keep stock of their memorable moments.

Works Cited

Crane, Frederick G. Marketing for Entrepreneurs : Concepts and Applications for New Ventures. Thousand Oaks: SAGE Publications, 2013. Print.

Kotler, Philip. Marketing Management. Upper Saddle River: Prentice Hall, 2014.

Miller, Michael. The ultimate web marketing guide. London: Pearson Educaion, 2011.