the relationship between product demand and consumer segments

Marketing Plan
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November 8, 2020
Understanding the relationship between product demand and consumer segments is one of the essential skills for a marketer. It allows him to effectively create marketing campaigns and strategy without spending too many resources on a low-converting segment. In this article, the author would like to focus on the specific consumer segment targeted for the product 'Beats by Dre Speakers'. Beats by Dre is a company that produces audio products such as headphones, headsets, speakers, and amplifiers, among others. Accordingly, one of its primary product lineups is audio speakers. In the following section, the consumer segment targeted for this product will be discussed in greater detail.
Consumer Segment Analysis
Demographics
The leading consumer segment that should be targeted for this product is middle-class teenagers. Targeting young middle-class consumers is essential since even though this product is relatively affordable, there are plenty of cheaper options that compromise between low-prices and performance. On the one hand, Beats by Dre has been primarily targeted by the company for teenagers from 16-24 years old CITATION War15 \l 1033 (Warc.com, 2015). This focus on their consumer segment influences their marketing style (i.e., use of influencers) and the design and branding of their product. Since this age segment is already established and has influenced the very culture and design of the product itself, then it is best to use this as leverage instead.
On the other hand, the focus on middle-class consumers would also improve the product's consumer base. A survey of the market would show that there are many cheaper and more expensive alternatives in the market, compromising the price and brand name. For ex...