Week thirteen: Segmenting and Targeting Markets

Smashbox has a segmented target market just like most businesses. Market segmentation (the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups) has a big role in the marketing strategy of basically all successful companies. Commonly all marketers have people or organizations that have different product needs and preferences, so segmentation really helps marketers define customers needs and wants.

Smashbox has a demographic segmentation (segmenting markets by age, gender, income, ethnic background, and family life cycle) for some of their products.

Gender and age segmentation- women are the consumers buying Smashbox products. They have different makeup products that attract women of all ages. For example their anti-aging and natural and light makeup products are more likely to attract older women. As opposed to brighter and more intense makeup such as metallic eye liner, which is more likely to attract teens and young women. 

Ex: Naturally Pretty Kit- a set of light and natural colored makeup, aimed for moms (a mothers day special)

Ex: Cream Eye Liner Palette- Metallic eye liner

Ethnic segmentation- Smashbox carries makeup products for every type and color of skin. No matter what part of the world your from or what color your skin tone is Smashbox will help you meet your perfect match and shade level!

Ex: Foundation Guide (Smashbox.com) 

Fair, Fair/Light, Light, Light/Medium, Medium, Medium/Dark, Dark

Income segmentation- Smashbox knows income levels influence consumers’ wants and determines their buying powers. So to the best of their ability they create products that are affordable for all types of people both low and high income shoppers!

Ex: prices range from about $16- $68

Having a target market (a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges) is extremely important and I think it shapes a company. Obviously it is crucial to know who your consumers are- for they are the ones who are funding and keeping the company going so Smashbox creates specific products that truly benefit everyone in their target market!