Market Segmentation

Market Segmentation

The market segmentation currently being put into use is psychographic. I made this determination based on the discovery that makers of PXG 0811XF driver divides its target market (prospective consumers) into segments with respect to variable values, personality traits, interests, values, attitudes, and the way of life of said target market. This type of segmentation comes with a lot of advantages since it enables PXG to get involved in the design and marketing of their products in a manner that is much focused (Vamplew, 2016).According to the PXG headquarters receptionist,the PXG 0811XF driver pricing starts out at around an approximate $700, but can easy increase in price. There are a lot of options you can choose from for full customization of your clubs. To differentiate itself from its competitors, PXG is not found on big-box retailer stores, like DICK’s or PGA Superstore but instead, they are available and can be accessed through the PXG company’s headquarters and on the company website. PXG aims at expanding its market by targeting higher handicap players by releasing its latest line of irons. Among the aimed brand promotions include the PXG 0811XF collections that complement the company’s initial range of blades. This is on a 24-hour basis which is an incredible marketing strategy for anyone to obtain his or her pleasure. The price tags are also indicated on each equipment for purchase so that any interested golfer can be able to know what he or she is up to spending thanks to the technology of the website creation. Furthermore, with the use of drivers from known celebrity golfers like Lydia Ko (LPGA Professional) and Zach Johnson (PGA Professional). PXG marketing strategies, however, cannot be ignored bearing that Mr. Parsons is very new but well knownwithin the golf industry. Although, his competitors like Callaway, Titleist and TaylorMade are among many others that have been known to do very well for a long period of time, Mr. Parsons remains assertive that he is far more ahead of them in club development and performance. Mr. Parsons says that his customers are loyal because they know what they are getting. Although he doesn’t look at Nike’s golf clubs exit from the golf industry as an advantage, this can increase his chances of getting a more significant piece of the green, in some sorts. However, it becomes a challenge for the low-income consumers to afford this equipment from PXG(Parsons Extreme Golf) since their material costs are very high, a complicated production process which continuously increases the price being that they do insist on no discounting to anyone as they believe that they don’t have an equipment cycle. They think that their products are very superior to any others on the market. This makes their product only to target the higher income earners who look over to quality and not quantity (price).

Benefits the Brand Provides and Needs the Brand Fulfills

One benefit that the brand PXG currently provides is that it maximizes their Moment of Inertia (MOI) while maintaining a low Center of Gravity (CG) position and low spin performance. The high MOI design helps reduce twisting of the driver head on miss hits and currently the brand fulfills a sizeable want or needs within the marketplace with respect to golfing and lifestyle. Being that the company believes in quality as opposed to quantity and pricing, customers are sure to get value for their money. In other words, it can be said that the brand offers needs in the tune of innovation, optimized launch conditions, adjustable weighting, precise fitting, and straight shot capacity among others.

Marketing Tactics

Currently,PXG employs the following marketing tactics; product features, and word of mouth. The company looks to make sure that all the products are top notch so that the reception of customers is higher than expected. The most pronounced tactics currently utilized by the PXG company revolve around influencing consumer behavior features, perception, attitude, and lifestyle.

Comparison to Competitors

Each current competitor of the brand and their marketing tactics resonate with and differs from my selected brand’s PXG (Parsons Xtreme Golf)0811XF driver in that unlike the xtreme forgiveness, the competitors’ marketing tactics are based on promotion efforts and brand loyalty. PXG also tries to provide high quality golfing equipment with the use of new patented technology to improve precision of weighting and myriad other features (Hanauer & Reid, 2017).

Section III: Brand Critique

Why the brand is behind its competitors

Every business organization focuses on developing key strategies, which are able to help provide a greater focus to the organizational development where they can be able to achieve competitive advantage in the market. It is important to understand building a competitive advantage within any given industry requires crucial measures, which are aimed at creating better understanding on the key underlying issues within the industry. The PXG (Parsons Xtreme Golf)0811XF driver has been effectively developed with a crucial focus on the market although it is important to understand that it has been unable to compete favorably within the industry due to a number of factors, which influence the overall company engagement and having a significant influence in the market.

One of the key factors why the PXG 0811XF driver has been behind its competitors is the fact that the company as a whole just started September of 2014. The PXG 0811XF driver was introduced in January of 2017 into the market. Thus, as any other new product in the market, it has not received favorably engagement considering the fact that there are preferences which are considered within the market and thus adopting change to embrace the PXG 0811XF driver would take time for the business to be in a position to compete, all though PXG is making great strides. Competitors have been in the industry for a long time where they have been able to learn important tricks within the market, which have enabled them to develop major brands that are globally renowned which builds loyalty. It is important to understand that reaching this status involves significant efforts which are put in place to ensure that the business is developed based on the objective to conquer the market(Rosária L.G. Pereira, Correia, & Schutz, 2015).

When a new company is entering a competitive business environment, it needs to invest heavily in marketing of the new product(s) so that the clients can be able to differentiate the new product from the alrea