Target Group Segmentation in the Horse Buyers’ Market against the Background of Equestrian Experience.

The research article explores the factors that influence the purchase decisions of various groups within the horse market, in relation to their equestrian experience. The study identifies three distinct clusters based on riding proficiency: amateurs, experienced riders, and experts, with amateurs requiring more objective criteria for horse evaluation.

Objective of the Study

• The study seeks to understand the influence of equestrian experience on horse purchase decisions.
• Investigates how modern society’s diminishing knowledge of animal husbandry affects horse-riding ability and horse evaluation, specifically during purchases.
• Experience segmentation is used to provide an in-depth view of the various rider groups’ preferences.

Methodology

• A survey was conducted on 739 horse riders to understand their purchase behavior.
• The categorization of rider groups was achieved through cluster analysis based on their horse riding proficiency.
• Three distinct groups were identified: amateurs, experienced riders, and experts.

Findings

• The study finds that the amateur group, in particular, requires objective criteria to evaluate horse purchases.
• These objective criteria could take into account various attributes such as the horse’s past showing success, the level of training the horse has undergone, and other aspects like ease of handling.
• The amateur group, which is growing in numbers, would benefit from having horses prepared for sale in alignment with their specific needs.

Implications

• The findings of this research highlight the importance of targeted marketing strategies in the horse industry.
• Understanding the different segments’ needs and preferences within the horse buyers’ market can enhance sales decisions.
• Specifically tailoring the information available about horses for sale to the growing amateur segment can potentially lead to more efficient and successful horse marketing.