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Urban Decay

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Principles of Marketing
Kelly Brynn
American InterContinental University

Principles of Marketing As a marketing strategy, market segmentation refers to the process of identifying and grouping consumers together based on similar needs and priorities, and subsequently designing marketing strategies that will best meet these common needs (Abell, 2010). Given the Urban Decay’s Naked Palette comprises of eye-shadow solutions that are primarily neutral, it is best suited for consumers in an official or relatively laid back environment. As such, segmentation should be pursued based on a geographic criterion (with a focus on the urban elite) and a behavioral criterion (with a focus on the relatively reserved consumer). Based on these segments, the target market would be accessed in the metropolitan areas of major cities or towns where stringent office wear is emphasized. The suburbs would offer the second target market since most women in these locations opt for make-up that is not too conspicuous. These markets would be the most profitable for the product since consumer profiles match the primary features of the product. The Naked Palette can be aligned to the above markets and consumer needs to create a strategic fit, even in the presence of noteworthy competitors. Prominent competitors include the Pixie Eye that promises to offer “deep and unique hues” that range from neutral to smoky for the consumer who is not afraid of experimenting with shades or going it bright (Montell, 2014). The Lorac Pro Palette offers 16 eye shadows to choose from that promise to give users the “red carpet look” (Montell, 2014). Both competitors target consumers in widely varied demographics. The Naked Palette can capitalize on the its narrow product specifications through positioning the product in market segments that have little or no use for the bright eye shadows. The Naked

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