Identification of Potential Consumer Segments
The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.
“Suburban Select” Segment
The Suburban Select segment comprises of Canadian parents between 35 to 49 years of age with university level education or postgraduate degrees; the life cycle is considered to be middle-aged achievers. This segment consists of Canada’s up-and-coming business class families; an affluent suburban family with dual-income couples (Household income $75M+) typically living with at least one child aged 12 to 17 years (Household size 3+). Given the segments’ high percentage of professionals, senior managers, and business owners there
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(Appendix B).
Targeting Consumer Segment
Most buyers do not share the same palate, purchase the same quantities, or respond in the same manner to marketing efforts. Therefore, a concentrated Niche Marketing approach will work best to target our selected segment. Instead of pursuing a smaller share of a large market, Exotic Fruit Bars will target a large share of one focused niche. Through niche marketing, Exotic Fruit Bars can achieve strong market positioning by gathering thorough and detailed knowledge of the consumer needs in the niches it serves, and by acquiring a distinct reputation to differentiate Exotic Fruit Bars from it’s competitors.
The product can be marketed effectively by fine-tuning the products attributes, price, delivery channels, and overall image for a carefully defined segment. Introducing the product into a niche segment will also ensure that Exotic Fruit Bars gains a foothold against larger more resourceful competitors, and eventually grows into a larger competitor with conceivably newer and more diversified product selections.
The Suburban Select segment represents a more lucrative niche for this product. Exotic Fruit Bars will thrive by catering to affluent parents who typically shop for their groceries at higher-end grocery retailers such as Provigo, Loblaws, IGA and health food grocery stores. The parents in this niche segment are health conscious and wealthy consumers who are willing to
First, the strengths are that the overall design, “the creation of the smoothie and juice names, and distribution, was done with multiple stores as the goal.” (Pg. 2) This business model differentiates them from the competition because instead of offering the same flavors, juice names, design, and distribution to all of the locations it is determined by a section of stores rather than the entire market. This tactic allows their business model to be targeted for a specific demographic depending on the external environment.
Increasing international growth and commitment to the environment and their employees are major strengths for the company. Growth opportunities are present in the organic market, which is projected to grow 9% (Scott-Thomas, 2012), and the smoothie market, which will see a potential growth of 1.6% through 2013 (Technomic, 2012). Some of the weaknesses facing the company are its narrow target market in the organic product industry and lack of traditional advertising. Major competition from Odwalla and Naked Juice are threats to growth and the volatile market for fruit and other natural ingredients may cause unpredictable price increases and as well as an unpredictable future. Also, shifts in popularity of the trendy organic product movement may cause a decline in future revenues. However, both the smoothie and the organic/health food markets are growing rapidly and Clif Bar can secure a larger share in these markets with the introduction of Simply Clif.
The new competition between rival sellers is to create new varieties of soft drinks, such as vanilla and cherry, in order to keep increasing sales and enticing new customers.
The Calgary Family Assessment Model uses six sample types of family life cycles: middle-class North American;
According to Exhibit 5, from 1985-1989, Orange crushes’ market share decreased from 22% (1985) to 8% (1989), this data shows that prior to the entrance of Coca Cola’s Slice and Pepsi’s Minute Maid, Orange Crush had more of the market share which at the time, they were positioned toward groups between the ages of 13-40. Since 1985, Crush repositioned itself to target individuals between the ages of 12-17.
The president of First Flavor, Inc., Jay Minkoff, is faced with a difficult choice of whether to expand his business into other markets. Minkoff, a highly educated and experienced entrepreneur, has multiple business interest in various categories. He has been at the helm and found success in at a variety of companies such as Homebuilder.com and Tri-State Publishing & Communications. Minkoff’s company Tri-State Publishing & Communications was ranked no.91 on Inc. Magazine’s Inc. top 500 list as one of the fastest growing companies in the country. Minkoff was even a commercial real estate broker handling billion dollar accounts. While at First Flavor, Inc., Minkoff co-founded Peel ‘n Taste. Peel ‘n Taste is a newly developed edible film flavor
This problem case details the steps to determine an effective retail design that would maximize success for Juice Guys in the east coast market. After reaching triumph in the west coast market, Juice Guys is looking to expand firstly into the Boston neighbourhoods. Boston consumers had a strong likeness for Nantucket Nectars but the market was different: metropolitan city (year round) versus summer only in Nantucket Island.
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Marketing to people in the world is done in different ways depending on the demographics. “Demographics underlies almost every marketing program, and is often a source of potent insights and opportunities for marketers (Hiam, 1992).” In society today, the different age groups and social classes of our population are part of the demographics that are considered. The groups are these: the youth market, teens, underclass, baby boomers, elderly and marital status (Hiam,
Most people see the snack market as dynamic and innovative, but actually it is surprisingly conservative. Most of what passes for product innovation is in fact tinkering with our marketing approach, things like special offers, promotion tie-ins and so on. We occasionally put new packs round our existing products and even more occasionally we introduce new flavors in existing product ranges. Rarely though does anyone in their industry introduce something radically different. That is why project Orlando is both exciting and scary Monica Allen, Technical Vice-President of PJT’s snack division, was commenting on a new product to be marketed under PJT’s best-known brand ‘Dreddo Dan’s Surfer
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The purpose of this essay is to highlight and describe the marketing segments for the area of Denver, Colorado. To demonstrate the usefulness of this practice, Neilson's PRIZM software we bill used to test the validity of its claims. This tool segments useful demographic information to help target consumers and make commercial exchange that much more manageable. PRIZM has 66 clusters that describe Americans by incorporating demographics, geographical and behavioral data. Many types of industries use this information such as newspapers, banks, political campaigns, retail stores and anyone else looking to refine their marketing approach towards segmentation.
Below is the multi layered marketing approach we have decided to take to ensure maximum exposure through diversification into several target markets in which Alissa’s Artichokes aims to grow and develop. Through the implementation of the multi-layered approach Alissa’s Artichokes aims to reach a larger target audience across a range of demographics than would generally be available through a single marketing stream.
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Home Grown Company’s mission is to provide the highest-quality real Fruit Juice. We want to attract and maintain customers. I have provided these details based on my own knowledge and collected information from different sources.