You are the sales manager of this luxury women hand bag company. The cost of the bag is Rs 1.5 lakhs and is made up from original leather. Who is the ideal Target segment for this? (You can select more than 1 option)

Market segmentation is a crucial aspect of marketing strategy, particularly for luxury products. The goal is to identify and target specific groups of consumers who are most likely to purchase the product. In the context of a luxury women's handbag priced at Rs 1.5 lakhs, the ideal target segments are those with high purchasing power and a preference for premium goods.

Option A refers to women from established business families in Mumbai. These women are likely to have significant financial resources and a social status that aligns with the luxury brand. They are accustomed to purchasing high-end products and are likely to be interested in a luxury handbag that reflects their lifestyle and social standing. This makes them an ideal target segment for the product.

Option B refers to newly married males going to Europe for a honeymoon. These individuals are likely to have disposable income and may be looking to purchase luxury items as gifts or for personal use during their trip. The honeymoon represents a special occasion where luxury purchases are more likely to be justified, making this group another ideal target segment for the luxury handbag.

Option C refers to college girls aged 18-25. While this group may be interested in fashion and accessories, they typically have limited disposable income and may not be able to justify the high cost of a luxury handbag. They are more likely to purchase affordable or mid-range products that fit within their budget. Therefore, this group is not an ideal target segment for the luxury handbag.

Option D correctly identifies the ideal target segments as women from established business families in Mumbai and newly married males going to Europe for a honeymoon. These segments have the necessary purchasing power and lifestyle to justify the high cost of the luxury handbag, making them the most suitable target market for the product.

In summary, the correct answer is D) Only (A) & (B). The ideal target segments for a luxury women's handbag priced at Rs 1.5 lakhs are those with high purchasing power and a preference for premium goods, such as women from established business families in Mumbai and newly married males going to Europe for a honeymoon.