Market Segmentation and Targeting Strategies: A Case Study of MM LaFleur's Professional Women's Clothing Market
Overview
This case study examines MM LaFleur, a US-based professional women's clothing company, analyzing how the firm utilizes market segmentation and targeting strategies to achieve business growth. The paper discusses product levels (core benefits, augmented product, expected product) and identifies the company's specific market positioning focused on professional women who seek convenient office wear.
What this case study covers
- Introduction to MM LaFleur and its market position in professional women's clothing
- Question 1: Product levels analysis including core benefits, augmented product, and expected product
- Question 2: Market segmentation and identification of target market segments
Preview
MM LaFleur: Market Segmentation and Targeting
Name of Student
Institutional Affiliation
Course
Professor
Date
MM LaFleur (Professional Women Clothing Wear)
After a business develops a product, selling to potential consumers requires various activities. Marketing, as part of business activities, entails all those activities aiming promoting the product to consumers. Marketing incorporates other specialized campaigns such as personal selling, advertising campaigns, and specialized promotion for particular products. Specialized products require more defined and specific marketing campaigns to increase sales, consequently boost profits. MM LaFleur is a clothing company based in United States (US), New York, and was founded in 2013 (Robson & Mills, 2020). As a clothing firm, MM LaFleur concentrates on producing office wear for professional women. Before deciding to focus on professional women who disliked shopping, MM LaFleur experienced many challenges in serving the target group. Despite the challenges, MM LaFleur experienced exponential growth for several years. MM LaFleur's product offering, market segment, and marketing strategies contributed significantly to its growth.
Question 1
Kotler changed the perception of marketing by defining what marketing is rather than what marketers do. Kotler's notion of marketing is by explaining it as a social process that entails entails groups and individuals obtaining what they want or need by creating and exchanging a product and value with others. According to Kotler, Pfoertsch, and Sponholz (2021), there are levels of a product in the marketing field, including core benefits, augmented product and expected product. MM LaFleur capitalized on these product levels, which contributed to its growth since its inception.