Chapter 8 - Segmenting and Targeting Markets
Cartier is a well-known luxury brand and being considered a "luxury brand" itself, connotes a certain feel of exclusivity, excellent quality, high-level precision and outstanding craftsmanship which makes its target consumers only a small and niche-type of population. Its main target market or target audience belong to the luxury sector of the market who are individuals classified at the top-end spectrum of wealth and social economic status. Usually, its target consumers spend heavily on authentic and famous luxury brands to further enhance their image and position in the society therefore it set a strong calling and demand to remain loyal to the brand. Cartier based on its strategic approach is to connect existing Cartier costumers to the brand and continue to give them unique experiences while also capturing new clients who may be interacting with the brand for the first time. Also, Cartier, for its geographic segmentation, has a fantastic geographical spread. The brand added different shops in Europe, Middle East, The Americas, Japan, and the rest of Asia. The new Sortilege de Cartier collection attempts to capture our personality, motives, and lifestyle which constitute a good psychographic segmentation for the brand.
Cartier is a well-known luxury brand and being considered a "luxury brand" itself, connotes a certain feel of exclusivity, excellent quality, high-level precision and outstanding craftsmanship which makes its target consumers only a small and niche-type of population. Its main target market or target audience belong to the luxury sector of the market who are individuals classified at the top-end spectrum of wealth and social economic status. Usually, its target consumers spend heavily on authentic and famous luxury brands to further enhance their image and position in the society therefore it set a strong calling and demand to remain loyal to the brand. Cartier based on its strategic approach is to connect existing Cartier costumers to the brand and continue to give them unique experiences while also capturing new clients who may be interacting with the brand for the first time. Also, Cartier, for its geographic segmentation, has a fantastic geographical spread. The brand added different shops in Europe, Middle East, The Americas, Japan, and the rest of Asia. The new Sortilege de Cartier collection attempts to capture our personality, motives, and lifestyle which constitute a good psychographic segmentation for the brand.
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