A report on internal and external influences on consumer behaviour in Lacoste
Student ID: 11464575
Student Name: Luan Truong NGUYEN
MKT 510 Assignment 2
Lecturer: A. Bull
JAN 27 2011
There are three main aims of this report. It aims to provide a better understanding about the impact of internal and external factors on consumer behaviour. In so doing, Lacose, which produces apparel, was chosen for this. At first, it will examine the segmentation and identify target market for the company. The second purpose is to explain the role of internal and external factors affecting consumer purchasing decision on Lacoste. Due …show more content…
The notion of market segmentation has been emerged for more than 50 years (Smith 1956). Market segmentation, which is a crucial tool to enhance the competition of a company, used widely across business sectors to manage diverse customer needs and to target marketing resources (Weinstein 2004; LaPlaca 1997; McDonald and Dunbar 2004). Consumer orientation is the main function of market segmentation because company must keep in touch closely with consumer to ensure more efficient resource allocation and resulting in marketing programs which are better attuned to customer needs (Albert 2003; Beane and Ennis 1987; Freytag and Clarke 2001). Realize the role of market segment, In the past, the brand from Paris more like the Americans do the job: dull, formal, middle-class style, men's Polo shirt style monotonous, even more terrifying is the diehard fans who love it The average age of close to 40 years. Unsurprisingly, Lacoste has been concentrate on the target consumer who is 45-50 year old people, belonging to the high society. They are seen to be loyal, classical, and to strongly share the brand values. In addition, their sensibility to price is low; they look for quality and comfort, easiness of maintenance. What they look for in the brand, is the possibility to relax in sport or during week-ends far from towns, through casual, sportswear.