Marketing Toolbox

Market Segmentation and Targeting

Demographic

Age: Between 20-65

Gender: Both male and female

Income: Enough to afford VIU glasses and not go to McOptic or Fielmann, approximately between 12’000.- (students) to 500’000.- per year.

Occupation: Ex. Marketing Manager or HR-trainee, something where they make enough money but not in the highest paid league. Also students, since VIU wants to be an affordable brand (VIU, 2021).

Marital status: Could be both married or single

Family life cycle: could be everything: independent young adult, single mid-aged person, newly married couple, parents raising-children, or person in retirement.

Education: Low, medium to well educated

Socio-economic status: Most likely in aspirational class since they want to have a great high-quality product but not willing or able to pay too much.

Geographic

Country: Germany, Spain, Belgium, Netherlands, Denmark, Sweden, and Austria but we focus on Switzerland only.

Region: Mostly people who live in or near a city since that’s where VIU stores are located but also possible that people from the countryside come to the city to buy glasses or order them online.

Market size: Approx. 67.7% of the Swiss population wears glasses (approx. 5.8 million) whereas the sunglasses market might be around 8.5 Million (Statista, 2021).

Language: Although their stores are only in the German and French parts of Switzerland, VIU might also have Italian- or English-speaking customers.

Psychographic

Motives: Higher design, quality and in-store experience expectations than in a regular “Fielman” store. If shopping on-site, a good consultancy, similar to a high fashion store are expected.

Personality traits:

. A person with character (VIU puts a big emphasis on this)

. Style and appearance are important to them

. Youthful and hip, yet classy and chic

Timeless aesthetics and innovative technology appeals to them → glasses have names like “the glamorous”, “the lucid” or “the posh” (VIU, 2021).

Values: They care about where their products come from or are produced (do not want to support translucent methods of the old established brands anymore).

Attitudes: VIU customers mostly follow a modern view of the world and lifestyle. When looking at Forrester’s empowered customer segmentation framework1, The following observations can be made:

. Willingness to experiment: probably on the higher end but not necessarily. Self-efficacy and information savviness: on the higher end since they might use the internet to inform themselves about alternatives post-purchase.

. Device usage: We assume that the majority of the customers use their phone quite often and are therefore more likely to respond to mobile ads than to posters.

Interests: Design, technology, fashion

Behavioral

Role: Mostly likely savvy seekers or convenience conformers since they are comfortable with digital payment methods(there’s no cashier in VIU stores, you can only pay by card) (Bellevue NZZ, 2021).

Purchase occasions: The majority sees the glasses more as of accessories and therefore buy a new pair on average every three years (Foreyes, 2020).

Usage rate: They wear their regular glasses almost every day, sunglasses occasionally.

Shopping patterns: Webrooming1 since they check their products online before they go to a store and since glasses are more of a high involvement purchase, customers plan their shopping, it’s usually not a spontaneous buy (Handelszeitung, 2021).

52 years old. She is single, works as a creative director, loves her job and her two cats. Her annual income is about 100’000.- a year. She lives in a nicely decorated apartment in downtown Zurich. Aesthetics are important to her and she is passionate about fashion. She loves modern and timeless brands like COS and GANNI. Since she has a lot of clothes and therefore likes to have multiple, matching glasses. Linda has a blog where she shares her favorite cooking recipes. The other day, while browsing the web, she stumbled upon the contemporary brand VIU which she is planning to check out in store very soon. 65 %

Paul,

27 years old. Paul just finished his Engineering Master at ETH. He doesn’t have a job yet but since sustainability as well as Human rights are very dear to his heart, he built a big fanbase on instagram where he talks about these topics. He spends quite a big amount of time on instagram each day and every now and then he checks out twitter to learn about recent topics. Paul is in a relationship and also lives together with his girlfriend in the old town of Solothurn. In his freetime he likes skateboarding, books and hiking. Paul likes brands like Veja and Patagonia. He is new to the eyewear market.

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