MM LaFleur: Market Segmentation and Targeting

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. As part of business activities, marketing entails all those activities aiming to promote 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 the 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 focusing 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 marketing notion is by explaining it as a social process that 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 is 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.
Core Benefits
In addition to food and shelter, clothing is also a basic human need, and businesses in the clothing line aim to meet this need. MM LaFleur engages in women's production and offers products to a specific market (women's clothing). The company managed to identify a basic need, determined the demand, and primarily focused on meeting the need. After establishing a human need, the business entity incorporates other product levels by including diverse designs, particularly professional women (Robson & Mills, 2020).
Augmented Product
Augmented is specializing a product beyond mere features to suit consumers changing tastes and preferences. Since clothing is a general product, MM LaFleur shifted its focus to women's clothing, specifically professional women. Augmentation of a product is serving MM LaFleur's intention of helping consumers differentiate its product from what competitors are offering (Robs...