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G2000's Market Segment

In: Business and Management

Submitted By jessepytsang
Words 604
Pages 3
MKT001
Principles of Marketing
TsangPakYuen Jesse 8464836 (First term 2012-2013)

Individual Assignment
Company: G2000 1The G2000 group was established in1980 by Michael Tien and first introduced in 1985 and positioned as a specialty clothing chain distributing both fashionable men's and ladies' career wear. In 1986, the Group established a second chain, U2, (or LAB in some countries) which was recognized as a leading retailer for superior value men's and ladies' casual wear. UWoman, the third chain run by the Group, is a women swear line born from the concept for a brand with a more design-driven image. In 2007, the three specialty chains are consolidated into one lifestyle retail chain called G2000 which offers the existing product lines under different labels, namely G2000, G2000 Pink and G2000 blù. At the same time, the Group introduced G2 BLACK LABEL, the new line offering premium modern city wear. 2Marketing segmentation. Marketing segmentation refers to the process of dividing a market into smaller consumer groups with distinct needs, characteristics and .consumption patterns. In G2000, they used Demographic segmentation by age which focused on middle class consumers. 3Target market. Target marketing refers to the process of evaluating the attractiveness of each market segment, and selecting the most promising one(s) to enter. In G2000, its target market is mainly focused on middle class level that needed to where formal suits and mature clothing to work. Besides, they also provide a casual wear line for people to purchase as to widen the company’s target market to strengthen its competitiveness. 4Positioning. Positioning refers to the process of creating an image for a company’s product, and then projecting this image in its target consumers’ minds. In G2000, they use Service differentiation to be the positioning, they provide free…...

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