STP for Megaman Segmentation Megaman uses Marco-segmentation to choose its target segment. Business organizations with the scale of small to big are all belonged to this segment (from under 200 to above 200). In this segment the business organizations will all have a high usage rate on Megaman’s product, the product categories are Lighting products and solutions. Megaman also uses Micro-segmentation to well define its target segment. Some of the organizations will only require a lighting system, while some of the organizations demand individual lighting consultation.
The organizations require consultations will have a much more closer relationship with Megaman while Megaman will gain more profit from providing an extended service. Megaman’s product are both foundation and facilitating goods. As a bisuness product, Megaman’s serve the purpose as in ‘use’ and ‘consumption’. Targeting Megaman targeted the business organizations to be its ideal customers. Since the customers are business organizations, they will share the key criteria of being price-sensitive; quality-focus and also logistics efficiency.
In another words, they are very high demanding. The target customers will be ‘optimizers’, they will compare all proposals before making the decisions. The organizations demand Megaman’s product to be cheap; reliable; low switching cost (high compatibility). Megaman is confident in satisfying their customers, so they mainly focus on encounter in new task or for modified rebuy. Positioning Megaman positioned itself as being the market leader. It continues to invent innovative products, just like Dyson.
Unlike the major competitor, Philips, Megaman had taken one step further on CSR, Megaman’s product are all eco-friendly as Megaman emphasis a lot of its product being sustainable. Philips also provide excellent lighting solution for various organizations but Megaman had managed to do the same thing but also being eco-friendly at the same time. Megaman also positioned itself of being high quality. Promotion There are different channels for Megaman to promote its products, such as Tradeshow, Advertisement and various distribution channels.
Megaman had participated in various trade shows, both in Hong Kong and overseas. As from the information shown in TDC’s website, Megaman had participated in the HK international Lighting Fair for the last five years. Megaman tries to attract both local and foreign customers through the tradeshow in HK. Megaman is highly involved in this tradeshow, as Fred Bass, the managing director of Neonlite ( Parent company of Megaman) and Megaman HK’s management team attended the tradeshow for the publicity event.
Megaman has not drawn much attention outside those standard tradeshows, same with its major competitor in HK, the Philips Lighting. It is belief that because both of them are already the market leader in HK, no more further marketing strategies needed to be apply in order to fight for market share. What Megaman should do is to consider sponsoring some other tradeshow, as being a good chance to encounter more business partners. When Megaman first enter HK’s consumer market, it used humor approach to promote that Megaman’s product can create funny yet positive value.
Megaman focus on TV commercial, it hired Daniel Wu as the main character to addressing the function of Megaman’s product is very effective on specific functions. For recent commercials, Megaman focus on the practical use of its products, such as using it’s LED light bulb could make specific products to look better. The latest TVC, Megaman failed to draw audiences’ attention by being so dull and boring. If Megaman want to continue its TVC commercial, they must need to another approach rather than read out the specifications of the products.