The primary target market of OXO is stylish females or housewives who are looking to stand out in the society by decorating their living lifestyle with the stylish and elegant products offering by the company. This product is for those housewives who prefer feasibility and easy to handle products. Stylish females or house wives are those are ready to pay even extra amount of their money in order for feasibility and to maintain their lifestyle in society and do not hesitate to show off in front of other individuals. Living in style is all about being modernized and OXO will provide stylish kitchen products to sustain that lifestyle that will match with the standard.
However, the company has increased its target market by introducing more products and increasing product lines. The company has also introduced office products in order to attract new customer segment. The target market of OXO is individuals for young and old, without the consideration of gender, righties and leftie, and according to the need. The company has segmented its product based on behavioural need according to the usability of kitchen tools and accessories in daily life.
OXO Value Proposition
OXO provides innovative consumer products that help individual making everyday life easier. OXO is value provider by providing best and easy to use products to consumers. Value proposition can be considered as a promise that a company has committed to provide value against the belief of customer in experiencing value (Quinn & Strategy, 2013). It can be measured by the sales of products and company's success, which has proved that company is achieving its value proposition effectively. As defined by Norton and Kaplan, “Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation.”
Value can also be assessed as value = benefits - cost, mean whether the customer has received the amount of benefits against the paid cost or not are equals to value. Hence, the company is providing value to customers by providing a refund or replacement guarantees if customer is not found to be satisfying with the products. Moreover, the company has provides customer service to consumers in order to help them. Therefore, it shows that the company is providing value to consumers as compared to other competitors who are offering same range of products. It shows the commitment of the company towards customers in satisfying ...