Segmentation
The global market for Bluetooth speakers is predicted to develop at a compound yearly growth rate of 18.1 percent between 2021 and 2026 (Purkayastha, Anirudhan, & Dutta, 2021). Bluetooth speakers have become more popular as a result of the rising demand for wireless speakers and the widespread use of these speakers in recent years. It is expected that this trend would continue, owing to the rising availability of these gadgets at cheaper rates, as well as the increased demand for smart portable devices among users (Bolton et al., 2021). The Bose SoundLink Micro Bluetooth market has been segmented based on the product, the application, and the geographic location of the market participants. Bose SoundLink Bluetooth Speaker market type in the small and portable category is examined based on the products manufactured, revenue generated, price, client base, and rate of growth, among other factors. The status and forecast for primary applications/end users, revenue volume, customer base, and the Bluetooth Speaker business rate of growth are all taken into consideration based on use and application. The status and forecast for secondary applications/end users are also taken into consideration (Purkayastha, Anirudhan, & Dutta, 2021). In addition to being utilized for entertainment, the Bose SoundLink may be used for a variety of additional purposes around the home, the office, and in official settings.
A large number of prospective Bose SoundLink Bluetooth Speaker users is segregated using geographic segmentation, for the purpose of reaching a wider customer base. The Bose SoundLink Micro Speaker is divided into nations and geographical regions based on a regional design concept. Bose markets its products primarily in North America (Mexico, Canada and the United States), Europe (particularly in countries with a high level of technology adoption and disposable income as well as a large population of young people), Asia Pacific (particularly in countries such as Australia, China, India and Japan), South America (particularly in countries such as Brazil), Africa (particularly in countries such as South Africa, Kenya, and Nigeria), and the Middle East (in the UAE and elsewhere with high disposable income) (Vilanova & Veras, 2012). For this specific product, the Australian market is targeted. Because of the waterproof nature of the product, which is ideal for summer lifestyles, the Australian bright weather and a summer mood are also important variables in appropriately identifying prospective consumers.
Bose implements demographic segmentation techniques in order to better serve its customers (Purkayastha, Anirudhan, & Dutta, 2021). In addition to variables such as gender, age, life cycle stage (unmarried, married, retired), and income, the Bose SoundLink Bluetooth Speaker also analyzes clusters and groups based on family life cycle (with or without children, with or without adult children, empty nest—married but with adult children). In terms of gender and age, Purkayastha, Anirudhan, and Dutta (2021) highlight that Bose mainly targets single Australians, young men and women who are educated, employed, and do not have children, as well as single young men and women who are educated and employed.
Psychographic segmentation includes a range of groupings of people with diverse socioeconomic origins or lifestyles, such as conventional family life, a better deal, fundamental necessities, and a sense of success, amongst other things (Lee, 2018). With the Bose SoundLink Bluetooth Speaker lifestyle, consumers’ hedonistic desires, as well as their need for grandeur and exclusivity, are addressed in a significant market sector with a high level of success (Vilanova & Veras, 2012). Aspects of personality such as ambition, intellect, and compulsiveness are the focus of Bose’s segmentation strategy. Ambitious young Australians with high intellect, and compulsive purchasing behavior are targeted.
A final segmentation strategy applies behavioral segmentation. Buyer preparedness (knowledgeable and informed, interested, eager, and intent to purchase), attitude toward Bose’s offers (positive and passionate), and loyalty (middle-level, strong, and supporter) are all characteristics of the market for Bose SoundLink Micro Speakers (Lee & Park, 2021). Aside from that, two factors distinguish the market for the Bose SoundLink Micro Speaker: the advantages requested (which include a broad variety of benefits such as service, quality, and performance), and the occasion of the purchase. At the end of the day, these behavioral characteristics are related with prospective young Australian customers’ online activity, including their proclivity to embrace innovations, do research, and emulate influencers.
The variables that my team believe are most meaningful for the product in the segmentation strategy are gender, age, income, and conventional fitting in to society and the high class. Marketing to these demographics set the tone for the entire strategy. According to Kitunen et al. (2019), marketers must identify these variables because they are the primary differentiators between categories of customers. As noted by Terzopoulos and Satratzemi (2020), the product in this case is very unique and of a luxurious nature. It appeals to young people, men and women, and is used to denote a certain level of fitting in to a society.
References
Bolton, T., Dargahi, T., Belguith, S., Al-Rakhami, M. S., & Sodhro, A. H. (2021). On the security and privacy challenges of virtual assistants. Sensors, 21(7), 2312.
Kitunen, A., Rundle-Thiele, S., Kadir, M., Badejo, A., Zdanowicz, G., & Price, M. (2019). Learning what our target audiences think and do: Extending segmentation to all four bases. BMC Public Health, 19(1), 1-10.
Lee, H. J. (2018). A ghost in the shell? Influences of AI features on product evaluations of smart speakers with customer reviews. Journal of Information Technology Services, 17(2), 191-205.
Lee, J., & Park, J. H. (2021). Effect of Product Design Innovation on Favorability and Purchase Intention-Centered on bluetooth speaker. Journal of the Korea Institute of Information and Communication Engineering, 25(2), 228-233.
Purkayastha, D., Anirudhan, A., & Dutta, S. (2021). Bose Corporation’s Competitive Advantages and Its Shift to an Online-Only Model. IUP Journal of Business Strategy, 18(1), 41-57.
Terzopoulos, G., & Satratzemi, M. (2020). Voice assistants and smart speakers in everyday life and in education. Informatics in Education, 19(3), 473-490.
Vilanova, C. Q., & Veras, C. A. G. (2012). Hottest Products on The Market Waterproof Shower Bluetooth Speaker 10inch. Journal of Aerospace Technology and Management, 4(3), 317-330.
