Brand Health Check Essay Example | Topics and Well Written Essays - 500 words

Brand Health Check - Essay Example In order to regain financial stability and overcome losses, playboy has extended its target market to a broader spectrum and positioned the brand in a different way. The whole targeting approach is explained below: Playboy has done the market segmentation based on the demographic factors especially gender, income profile and business groups in which the potential consumers belong. During the launch of the magazine its target market was the working men but after the decline of sales in 1982’s, they have shifted their focus to working class women also. The current median age of their target age group is 33. Playboy has introduced their product in variety of mediums such as television and online. Visual products were targeted to couple, irrespective of their working class, and the online media for market penetration and reach. (Playboy Enterprises. N.d) In 1990s, the declining sales figure forced playboy to rethink their market segmentation, targeting and positioning strategy. They discovered that explosive growths are available in Far East market, like in Japan. The company realized that change in income profile in Japan has changed the demographic as well as the psychographic orientation of the customers. Hence the segmentation was done according to the psychographics of the consumers. As people started to get out of the workaholic and obsessive behavior, their mindset also changes and the targeting strategies must be restructured in order to expand the market.(The Tech, 1990) Recent studies have shown that in order to stop the ever decreasing sales figure, playboy needs to rethink their positioning strategy in a different way. Playboy is no longer considered to be the lifestyle magazine against the conservative male norms. The company is targeting the middle-aged uneducated and under-paid people too because of product saturation in the existing market (Lapp.2013). Market share can be