M.M. Lafleur: Market Segmentation and Targeting
M.M. LAFLEUR: MARKET SEGMENTATION AND TARGETING
REQUIRED FORMAT: This case study will require you to answer 4 questions regarding the M.M Lafleur case study. Please use complete sentences, in a paragraph format, to answer all of the case study questions.
Your completed case study should be 2-3 pages in length, double spaced, in a standard accepted font (Calibri, Arial, Times New Roman, etc.). All questions should be numbered.
After reading the case study, please answer the following:
1.Define M.M. Lafleur’s product offering across all three levels of a product (Hint: think core, expected, and augmented product). At what product level do you think M.M Lafleur provides the most value to the customer? Why?
2.How does M.M. Lafleur segment the market? (Hint: Consider more than just demographic factors!)
3.Which of the four market targeting strategies is M.M. Lafleur using to target their customers?
4.What strategies should M.M. Lafleur pursue to grow the company?
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Market Segmentation and Targeting
1. Define M.M. Lafleur’s product offering across all three levels of a product (Hint: think core, expected, and augmented product). At what product level do you think M.M Lafleur provides the most value to the customer? Why?
In 2013, Sarah LaFleur established M.M.LaFleur, which is a clothing firm based in New York, United States. The company deals with clothes for professional women. The target market of M.M.LaFleur is busy and professional females who do not have an interest or time for shopping. In that light, the company target women aged between 30 and 55 years with an annual income from $100,000 to $250,000 (Robson and Mills 2). The three primary product levels are the core, expected, and augmented products. M.M.LaFleur’s core is to meet the clothing needs of working women who do not like shopping for work clothes. The expected product is professional work clothes that make females outstanding. Based on Mikako Nakamura, M.M.LaFleur’s designer, the clothing offered by the company are fit for working long hours and traveling. The fabric used is breathable and wrinkle-resistant, can inhibit sweat, and hide undergarments. Moreover, they can be laundered using a washing machine (Robson and Mills 2). The augmented product level includes accessories that can go along with work clothes. M.M.LaFleur provides the most value to its customers at the expected product level. The reason is that the professional clothing offered caters to the needs of professional females.
2. How does M.M. Lafleur segment the market? (Hint: Consider more than just demographic factors!)
M.M.LaFleur segments the market using geographical, demographical, behavioral, psychographic, and common interests of professional females. For instance, it targets working women between 30 and 55 years. The company started by serving customers in New York before it expanded to other geographical locations, including Minneapolis and Denver. Currently, the brand serves females in almost all the major cities in the United States. M.M.LaFleur emphasizes meeting the needs and interests of working women when it comes to clothing professi...