Analyse af B&O's målgruppe og markedsføringsstrategi

Bang & Olufsen is a high-end design and manufacturing company, that sells audio products, television sets and telephones. It has existed since 1925 and has ever since been known for its exclusivity. That reputation is related to a significant high price on its products, compared to its competitors. B&O’s target group can therefor superficially be described as people who are wealthy enough to afford the product. But by making some segmentation it is possible to go deeper into the consumers’ minds and find the right target group for the company. If you start out by using the most common way of segment consumers, you take a look at the geographic, the demographic and the psychographic situation of the consumers. If we focus on the Danish market, geographically their consumers probably live in the bigger cities or suburbs. They are men, because men are usually more interested in electronics than women are, and in families, men are also the ones who decides which electronic equipment to buy to the house. Men also earn more money than women do, and stuff like electronics are one of the very popular things to spend them on. The typical customer for B&O also earns a lot of money. I would say that they should at least make about 40.000 DKK, because with the new Beovision 12 television, which costs about 120.000 DKK, a smaller income would mean that the customer should spend more than 3 times his monthly salary on a TV and that is very unlikely. That excludes kids and young people under 30, because they mostly don’t have such a big income. The average age in Denmark is 40 (sources), and that is actually close to the ideal age for the B&O target group. When it comes to the psychographic part, it is mostly modern upper middle class or upper class that fit into the target group. The consumers are very loyal to the product, because they are the kind of people who knows exactly what they want and that is quality. To get even closer to these consumers, it is a good idea to use the Minerva model. The Minerva model (appendices) is divided into 4 (5 with the grey circle) lifestyle segments based on values. The typical B&O consumer is placed in the blue segment. These people are modern, individualistic people who are well educated and have a high income. It is mostly men who are very materialistic and their political point of view is liberalistic. I would say that a part of the target group could also be in the violet segment. They are more traditional and would choose B&O because it is a traditional Danish company with a quality product. These would probably be family dads who make a lot of money. In this segment they are also very nationalistic, which could also have an influence because B&O is a Danish company.