Marketing essay on: New Zealand marketing on Montague’s new range of bicycles

1. Introduction:

In order to market the Montague’s new range of bicycles in New Zealand fair marketing of the company as well as the product is required. So as to market the bicycles in New Zealand proper segmentation of the market should be done. Profile of the target customers should be developed which would help the company in order to market the bicycles.Perceptual mapping should be used in order to develop a competitive positioning strategy for the newly developed company i.e. Montague in New Zealand.

2. Segmentation & Target Market profile

2.1 Background:

New Zealand is an island country in the south west of Pacific Ocean. It consists of various small islands as well as various mountains, hilly areas, trekking regions. The country has varied topography & consists of various districts. In order to launch the new range of bicycles by Montague, New Zealand would be the appropriate place. In order to do so, segmentation of the market, profile of the target customers should be known which is discussed further in this report (Ries & Trout, 1981).

2.2 SegmentationIn order to market the bicycles in the New Zealand, proper segmentation of the market should be done to have a fair idea regarding the target audience to be catered to.

Segmentation would help in dividing the heterogeneous market of New Zealand into smaller segments.

The segmentation of the market would be done on the following bases:

°         Geographic Variable

°         Demographics Variable

°         Psychographic Variable

°         Behavioral Variable

The market of New Zealand could be divided on the basis of certain geographical variables such as the population density of the city, size of the area, etc. The population in New Zealand is dense; hence in such a populated region folding bicycles would be one of the best solutions to commute (Ries & Trout, 1981).New Zealand is surrounded by various types of hills, trekking regions, racing areas therefore people fond of racing, trekking could use this type of bicycle which is handy to carry.

Segmenting the market on the basis of demographic variables would help Montague in order to stress on a particular target group. The new range of folding bicycles could be used by people ranging from different age groups. People belonging to all income groups would be able to buy the folding bicycle. The price charged for one bicycle would range upon the model of the bicycle chosen (Ries & Trout, 1981).

Segmenting the market on the basis of the psychographic variables would also help to focus on a specified target market. The psychographic variables which would help the company in order to target a group of people would be interest, personality, attitudes, activities, etc.

The new range of bicycles which would be launched by Montague in New Zealand refers to a range of trendy bicycles which would be liked & appreciated by all the individuals.

The kind of market segmentation approach which should be followed by Montague in order to promote its product in the New Zealand market refers to market aggregation.

Market aggregation is also known as mass marketing & refers to marketing the bicycle to a large population which would lead in heavy exposure of the brand and product (Avantiplus, 2010).

Such type of market segmentation approach would help in the reduction of the marketing cost while promoting the bicycle.

But, the major disadvantage of this type of market segmentation approach is that it gives an opportunity to the competitors to start up the businesses & market a similar type of a bicycle.

 2.3 Profile of Target ConsumerThe major target customer for this type of business would be the university students. Since, the number of undergraduates in the New Zealand market is increasing by 25%, therefore major focus would be on them (Ries & Trout, 1981).

Due to lack of the parking areas in the university area, the range of new bicycles would be one of the inexpensive modes of transportation.

The other major target consumer for the new range of bicycles to be promoted by Montague in New Zealand would aim at the various cyclists. The cyclist would be willing to buy the new range of multiple gears, good brakes bicycle which would help them to succeed in the race (Ries & Trout, 1981).

Generally, the profile of the target customers would range from high middle income class to the elite class. Depending upon the income class, the target customer would buy a bicycle from the range of cycles being promoted by Montague (Avantiplus, 2010).

3. Perceptual Map & Positioning

In order to attract more number of customers towards it, Montague should practice proper perceptual maps in order to design a competitive positioning.The various dimensions of the positioning map should be clearly identified & justified. While formulating the perceptual map Montague should take into consideration the two main dimensions i.e. Quality & Price being charged for a particular bicycle. By designing a perceptual map, Montague would be able to have a vague idea regarding in which segment to launch the new range of bicycles (Avantiplus, 2010).

A brief description regarding the competitive landscape should be done by Montague in order to have an overview regarding the competition prevailing in the bicycle market in New Zealand.

Montague should also take into consideration the other well known bicycle brands prevalent in the market. The first step while formulating the competitive landscape refers to:

°         Identify the competitors: There are various bicycle retailers in the New Zealand market. Some of the leading names are Adventure Brands, Scotty Browns, New Zealand brands, Rating bicycle brands, Avanti plus. These are the leading retailers in New Zealand.

°         Understanding the market: After identifying the competitors, Montague should understand the competition prevailing in the New Zealand market which would help them to succeed.

°         Pointing out the strengths & weakness of the competitors: Another major requirement while performing the competitive landscape refers to look into the strengths & weakness of the competitors.

4. ConclusionThus, this report takes into consideration a marketing brief which might be used by Montague in order to launch a new range of bicycles in New Zealand. This report describes a range of potential target market, segmentation of the market & the profile of the target customers (Avantiplus, 2010).

Use of perceptual map would help Montague in order to design a competitive positioning strategy. Description of the competitive landscape should be done clearly regarding the other bicycle retailers in New Zealand. This would help Montague in order to define a positioning statement.

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