Direitos Humanos, Direitos Fundamentais e Fundamentalidade

We have now found out that HH need to strenghten their global position and that they can do this by entering the Singaporean market. It is now important that we use our research in order to find out what segment groups HH should target in the Singaporean market.

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Market Segmentation is the process of splitting customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same or comparable set of needs satisfied by a distinct marketing proposition¹¹¹

In order to identify market segments they must rate favorable on five key criteria’s Measurable: the size, purchasing power, and characteristics of the segment can be measured.

Substantial: The segment is large enough to serve. A segment should be the largest possible homogenous group worth going after with a tailored marketing program.

Accessible: The segments can be effectively reached and served.

Differentiable: The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.

Actionable: Effective programs can be formulated for attracting and serving the segment.

Identify a segment for HH

Since Singapore consists of a bi- cultural society, it is difficult to target the right segments based on the traditional segmentation criteria’s. Based on our research we have based our segmentation on the demographic and psychographic segmentation criteria’s.

Demographic segmentation the market is divided into groups on the basis of different variables. We have chosen to focus on the variables income and social class¹¹².

Psychographics is the science of using psychology and demographics to better understand consumers. Psychographic segmentation: buyers are divided into different group on the bases of psychological/personality traits, lifestyle or values¹¹³.

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112 Kotler, Philip and Keller,Kevin Lane. 2009. Marketing Management. 13th ed. Person Education,Inc.Page 215

113 Kotler, Philip and Keller,Kevin Lane. 2009. Marketing Management. 13th ed. Person Education,Inc.Page 221

Through first and secondary data we have identified three segments that we would recommend HH to target in the middle to upper population. These are: Expats/others, Singaporean national and the tourists segment.

Singaporean Nationals

The total number of Singaporean residents in 2009 was 3,733.9 million. Median Age among the Singaporean resident was: 36.9 years¹¹⁴. “The Singaporeans associate Scandinavian brands with high quality” (Quote: Jonas Ericsson, Style Nordic). Based on our web survey we can see that Singaporeans value functionality and technology when buying sports clothes. HH can therefore be a suitable choice for Singaporeans when buying high technology sportswear.

Singaporeans are more westernized then other countries in the Asian Pacific region. They are therefore more willing to try out HH products.

Expats and others

The second segment we will recommend HH to target is expatriates and others who live in Singapore. Based on our web survey we can see that expats and others virtually have the same preferences we have therefore lump them together to one target group. “Expatriates are people who move to Singapore to work for a short or a long-term period. Many of them are from the Western part of the world and among them there are 15- 1600 Norwegians” (Quote:

Claus Gaasvig. Innovation Norway). Due to this fact the target group might already be aware of the HH brand. Others are a wide group of people: exchange students, people on long-term visit, business partners flying in for short time work related stay. This is usually people with middle to high income that are willing to spend a high amount on quality products. However,

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because they care less about technology, HH may not be able to differentiate itself as well.

Therefore, the Singaporean residents provide the more sustainable market long-term.

Tourists

Tourism in Singapore is a major industry and attracts millions of visitors each year 9,7 millions in 2009. In 2009 visitors spent S$ 3.1 billion on shopping in Singapore. Due to this fact the tourist segment is an attractive segment for HH to target. Some of the largest tourist groups are people from China (S$1,403 million) and Australia (S$934 million)¹¹⁵. HH has flagship stores in both those countries. This means that HH believe that people from Australia and China are potential customers. We therefore believe that this target group is likely to buy HH products in the Singapore market.