Process of Segmentation

2.2 Segmentation.

The process of segmentation means for us looking at targeting our consumer markets and looking at how we position ourselves to create the exposure that will make people perceive us in the way we want to encourage them to use our services.

Targeting, in the concept of segmentation is the term used to decide which segment or consumer market a company will aim to sell its' products and service to. It is essential to target the right segment to ensure the right product is offered to the right consumer.

Consumer markets that we need to consider to compete in are:

* Geographic - breaking the market up by area i.e. cities, counties etc.

* Demographic - considering ages, genders etc

* Geo-demographic - a combination of the geographic and demographic factors.

* Socio-economic - classes of people, i.e. lower class, middle class etc.

* Psychographic - the lifestyles and personalities of the markets

* Behavioural - buying behaviour, usage of the venue, loyalty etc.

Positioning ourselves is very important and it is this process that will determine how the markets will perceive us. We want to use this to give us the best chance of achieving a competition over our competitors. We need any potential customer to know who we are, what we stand for, and what makes us better than our competitors. This needs to be followed through though. We need to ensure the customer can get exactly what they expect and that we can meet the expectations gained from the claims we make.

Due to the versatility of our business, we need to target segments for both consumer markets, i.e. the customers who will come to our venue for events such as football matches; and also for the commercial markets, i.e. the businesses who purchase advertising space from us to promote their own companies.

We need to analyse each of the services we offer in order to distinguish which segment is best to compete in. A separate report focusing on segmentation of the market would be able to provide a more detailed analysis of this.

The functions suites the Liberty Stadium can offer, boast very versatile usage, for this reason the variables of a segment can be vast.

For all The Liberty Stadium has to offer, a reasonable stable segment for all services would be geographic influences. The majority of customers of The Liberty Stadium would be local to the Swansea area. Investing in local radio advertising and/or local newspapers may be beneficial.

This local, geographical influenced advertising scheme should be especially considered in promoting