Market Segments Based On Region For Cowsmoo Milk Bar Essay

The Problem(s). Manson and Associates was doing a research to determine market potential of a Coors beer distributorship for a two-county area in southern Delaware on behalf of Larry Brownlow so Larry could find the answer for the following question:

The consumers in the intended market segment, who lived primarily in rural areas, didn’t necessarily shop at

The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.

In order to succeed, it is fundamental that businesses satisfy consumers’ needs (and desires) for goods and services. Appropriate market research provides the data necessary to understand those needs and respond to them effectively and profitably. Kudler Fine Foods (KFF) has performed market research in the past. Some of that research has been helpful; some has not. Additional market research is needed for KFF to reach a larger share of the market and increase profitability.

If Company Q determines their business could survive and thrive in the community; the next step would be to look at the products they sell. The product that is available for purchase needs to also be targeted to the population of the neighborhood. For example, ethnic or cultural foods need to be common to the neighborhood they are being sold in.

By having place utility in a healthcare setting, we will be able to target markets in rural suburban geographical areas, that allow us to meet our customers preferences, by dominating this type of area, we can focus on adding more convenient ways to attract new clients. In order to have place utility, it’s very vital when locating a geographical area that best suits our clients needs. In order to target these markets it’s extremely important when selecting a location that is suited for the type of customer clientele that we must generate in order to drive up our customer database.

This will help to ensure how successful they will be and give them a market plan when it comes to what type of products and services they will offer at each new location. Researching customers in all the projected new locations will give them an idea of what they will have in each store according to the areas shoppers like and dislike and how willing they are to try something new.

          The first way that they should improve on these markets is to take a look back at the psychographic aspect and expand upon that. Sure, they are targeting

How should this market be segmented? Identify the key segmentation variables that are relevant for this market.

The advantages of young adults ages from 15 to 25 is that they have some or full independence when spending money, and have disposable income from summer job or part-time or full-time job, they also have desire for social interaction and handing out to ice cream store could be one of the social activities (Exhibit 6 –Demographic Analysis). However, the disadvantage of this group is that they are hard to attract and they are more appeal to lower price products because they do not earn a lot of money while in school. One of the biggest disadvantages of this group is that it contains only 8% of the population in Oakville and 13.87% in Vaughan. Young adults are not a big market for the company to generate revenue goal.

Every company and/or organization starts and operates to achieve a single major goal, which is normally included in the company’s mission statement. Setting a goal, however, does not translate into success on its own; it is only the fist step. Understanding market segmentation is the second most important aspect of doing business. “Sellers and advertisers want to be able to determine what the potential market is for their product or service, as well as the best ways to reach potential consumers” (Terrell, 2013). Once a goal is set, an organization first must decide if it wants to operate locally, regionally, nationally, and/or internationally, as the size of the geographic coverage has a large

Greenleaf, a national health insurance company, decided to open a clinic in a busy downtown area near a metro station, they conducted a needs assessment prior to selecting this location. While in the process they must have considered the map of what and how they want to do. There can be several issues they might have considered like: decision-making, time, types of decision that needed to be made for the betterment of the clinic, setting of clinic, internal influencing factors, and External influencing factors. Greenleaf with help of GIS (Geographic Information System) mapping, learned that a large percentage of its policyholders worked within a 1-mile radius of the clinic. The fact that over the past year and after an extensive billboard,

After segmenting the market there is a need to narrow down to a specific target, this achieved through target marketing, which breaks down the clientele into primary, secondary and tertiary categories (Dibb & Simkin 1996). From the empty seats in the restaurant it could be true that City Grill employs niche marketing to reach its target group. Niche market in simple terms is selecting a small group within a large group. By offering steak as their main delicacy they have specialized in a small group or a niche in the extensive restaurant industry.

Finding the right place can be very useful. So, we decided to locate our market in UK specifically Coventry city at the beginning, but whenever the business grow, we will expand it around UK specifically the big famous cities such as, London, Birmingham, Manchester, and Oxford. We are targeting all the ages but the young generation in specific because those cities that we mentioned are active cities with a huge number of students during the year.

Descriptive (qualitative) survey design was used because it was suitable as it was to provide more and varied information on the market about their feelings, behavior and other factors that could not be quantified. The findings of the sample population were to be generalized to the whole population (Taylor & DeVault,2015).