Assignment #1 – Market Segmentation and Product Positioning
Marketing Management
MKT 500

Assignment #1 – Market Segmentation and Product Positioning
The Product: Unique jewelry designs
The jewelry I design is made from genuine stones, pearls and crystals. The plan is to make it into an e-business. I also do custom jewelry. Sometimes it is difficult to find exactly what you want and visiting store after store hoping to find what you want feels tiring. Sometimes you find what you want but it’s made of fake stone and cheap material and it does not match your style. Custom design takes a little time, but it's worth it to get exactly what you want.
Famous-name designer items can be extremely expensive and are easily copied. The same jewelry which is from a famous name designer can look exactly the same as the counterfeit but the price could be less than one-tenth of the original price.

Famous-name designer items are not unique. They are mass produced and are worn by so many women. It does not make me feel unique. I would rather wear something that creates queries like “Where did you get this from?”, ”Who is the designer?”, “how much does it cost?”

Actresses or pop stars set the trend for women. But usually it’s the younger generation who wants to ware a brand-named jewelry. And they don’t mind so much if it’s a counterfeit or fake; as long as it looks like what the pop star wore. Nowadays the market is full of fake jewelry usually mass produced in China.

1. Identify the market segmentation strategy for the product?

The marketing segmentation strategies for my product are:
Gender:
Age:
Household Income:
Education:

The reason I chose these segments is jewelry by an unknown designer would only appeal to someone who has seen enough of the well-known designers stuff and wants something different. These are usually older women