This is a comprehensive case…that is, we will look back at the inception of the Segway and describe briefly the marketing mix that would most likely bring success. We will do this by answering the critical questions that follow: 1. Pick a corporate goal by putting an “X” in the left column choosing goal 1-4 X| CG| Year 1| Year2| Year3| Year4| Year5| | 1| $100,000| $200,000| $300,000| $450,000| $600,000| | 2| $1,000,000| $1,500,000| $2,250,000| $3,250,000| $4,500,000| X| 3| $10,000,000| $14,000,000| $19,000,000| $25,000,000| $35,000,000| | 4| $50,000,000| $75,000,000| $100,000,000| $140,000,000| $200,000,000| . In a couple of sentences describe the market segment that would be most likely be successful in reaching the previous goal. The market segment should be city dwellers that live, work, and play in congested, short distances cities. The segment is educated, innovative, technologically savy, and likely under 50. 3. What function would the Segway perform for the above segment? Provide an alternative method of transportation for short distances without gas prices, the hassle of parking, and the inconvenience of a large automobile. . How would you go about arriving at a price that would be most likely to be successful? Keeping the price under $5,000 for a model able to suit the needs of a consumer seems to be a good fit. Anymore expensive, and the Segway doesn’t seem accessible enough to the masses. Any cheaper, and it doesn’t seem reliable enough. If offered in enough cities and to advertised properly, the Segway should sell to the masses at this price point and achieve the goals set out in the table. 5.
Where would the chosen segment want to purchase the product and what are the key “Service Output Demands” by this market for this product? The chosen market would want to purchase the Segway possibly online (through a trusted retailer like Amazon, which was mentioned in the article) or through a local dealer. The local dealer option may be better as customers will want to touch, see, feel, test drive their potential purchase. 6. What would be the best way to communicate with this market?
The best way to communicate with this market is through technologically oriented methods (innovative web sites, email, techie magazines, etc. ) 7. What would you want to say to this segment? You would want to make them realize how savy and smart owning a Segway would be, how they are the type of innovators that need the product, and how it will make their lives easier essentially. Communicate in such a way that they don’t see the Segway as a fun toy, but as a valuable and smart method of transportation.