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…show more content… (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