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http://dx.doi.org/10.17662/ksdim.2022.18.3.097

Aim at a Target Market of Small Groups The Case of the Brand 'Lonchel' Targeting Top Premiere Interior Market  

Lee, Jaejin (인하대학교 산업경영학과)
Lee, Sung-Jun (한국외국어대학교 스칸디나비아학과)
Publication Information
Journal of Korea Society of Digital Industry and Information Management / v.18, no.3, 2022 , pp. 97-110 More about this Journal
Abstract
The case study looks into the case of the "extreme" market segmentation strategy of company L with its top luxury windows and door brand "Lonchel". Company L has long enjoyed a leading position in the Korean windows and doors mass market. However, it went against their already well-established flagship brand and created a completely new one called "Lonchel", pursuing an extreme market segmentation strategy focusing on the small niche market of highest-income customers exclusively. The strategy has turned out to be successful and the company has gained long-lasting competitive advantages. In this vein this study analyzes the market environment in which the top-tier brand "Lonchel" appeared, the concept of the extreme positioning and the smallest viable market, the characteristics of target customers, the company's analysis of and response to them, and the analysis of products to meet their needs. The brand operation plan and promotion will be also reviewed. Through this, we intend to draw implications related to the extreme positioning strategy that a company may pursue in a target market of small groups of people.
Keywords
Smallest Viable Market; Extreme Marketing Positioning; Premium Luxury Brand; Segmentation; Korean Windows and Doors Market; Market Research;
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