When discussing which segments Clearly Contacts currently targets, our group came to the consensus that they are operating mainly in three of the segments: Thinkers, Strivers, and Experiencers.
We believe that Clearly Contacts is targeting thinkers because their customers look for value in the products they purchase and Clearly Contacts offers their products for a lower price than traditional retailors with a 30-day money day back guarantee. This guarantee allows thinkers to be satisfied with their product without taking a a risk in the value. Thinkers also look for durability and functionality; which Clearly Contacts caters too with offering different brands for different areas of the world through their online platform (which makes it easier for people to order their products).
We believe that Clearly Contacts is targeting strivers because they provide customers a way to buy a high quality and well known product (and brands) without the higher price. This behaviour is favourable for customers who do not have the means, but want to emulate the purchases of those with greater wealth. By Clearly Contacts having different brands and websites for different geographical regions, the brand can cater to the trendy nature of their customers by satisfying the fun loving and fashionable needs that each region desires separately than other regions of the world.
We believe that Clearly Contacts also falls under the experiencers category because of the ad campaign that the company ran on Facebook. By offering free glasses to the first 10,000 people who liked their page, the company targeted youthful and enthusiastic people in the market. They also cater to this market by offering trendy brands that are available for purchase 24/7. This caters to the behaviour of the customers who have more of an online presence and are younger in nature.
2. Since Clearly Contacts has a segment of each motivation under VAL’s system already, it is should not be to difficult for the company to target either higher or lower resource customers under the achievement, ideals, and self expression categories. Please see the summary chart below for an overview of our analysis.
Porters 5 Forces Analysis
Threat of New Entrants Threat of Substitutes Bargaining power of Suppliers Bargaining power of Buyers Level of Rivalry Enter this segment?
Believers High Medium Medium Low High Yes
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