Discuss the types of people who buy minivans, pickup trucks, sports cars, SUVs, compact cars, and luxury cars. What are the benefits for the auto companies to segment the market?
When Henry Ford marketed the Model T a hundred years ago, he stated customers could have any color they wanted as long as it was black. We have come a long way since then. The types and variety of cars have exploded, and now cars are available in a multitude of colors.
- Identify the different segments of the automobile market.
- Discuss the types of people who buy minivans, pickup trucks, sports cars, SUVs, compact cars, and luxury cars. What are the benefits for the auto companies to segment the market? Give reasons for your answer.
- Determine if it is possible for a company to attract customers from one market segment into another market segment and still earn a profit. Explain why.
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