Segmentation
For marketing purposes, the product V8 V-fusion®+ Energy can be divided into many segments based on the possible customers who would benefit. These segments can be defined using geodemographic and psychographic segmentation methods. Each of the three most relevant segments are described in the following text. The first segment involves women between the ages of 25-30. These women are single, very active and looking to settle down. They are very health-conscious and tend to spend a great deal of time working on their image. The women of this segment typically have a household income of $45,000 to $65,000 and cherish the value of a good bargain whenever they see one. They prefer to purchase items that will benefit their
…show more content…
They are either recent college graduates or current students who feel compelled to succeed and are drawn toward products that offer health driven benefits. One of the main points of attraction for this particular segment is the variety in flavors. Not only are there two different choices but one of those choices also involves pomegranate fruit that is said to have many healthy perks and is very highly advertised in today’s market. Another ingredient that these women find attractive is green tea, which helps fight cancer and yields a lower risk of heart disease over time. The last, yet just as important, segment includes women and men between the ages of 45-50. These adults are living with a solid income of $70,000 to $80,000 per year and tend to lean toward the trendy items on the market, despite their age group. The people of this segment are very interested in recapturing their youth so they prefer to keep up with the newest fads and look for benefits in their chosen products that allow them to feel young and rejuvenated. Being that they are so very health conscious, the women and men of this segment would likely substitute this drink for their morning coffee in effort to reduce the chance of drinking too much caffeine. They are driven by the fact that this beverage comes in a small serving size while intriguing their taste buds simultaneously. When purchasing these products, the consumers will likely
Based on data obtained from limited English sources dated 2005 to 2010, energy drinks have become more popular among teenagers and young adults (Rath, 2012). SixWise.com’s (2008) article “What is really in a hot dog?” provided evidence that just because the product is purchased by the public does not automatically mean it is beneficial long term (Wyrick). This new craze of energy drinks has the world consuming them at a staggering rate. The debates concerning the effects among energy drink consumption in all age groups are real and impacts most of us in some shape or form. Some people will argue there are benefits found in some of the ingredients that enhance the psychological and physiological mental and cognitive performances such as
1) How Kraft’s Kool-Aid competes with competitors of other flavored drinks, such as soft drinks, juices, etc
Trader Joe’s is an organic grocery food store that is one of the best known organic food chains. By listening to the consumer and adjusting to the changing consumer market, Trader Joe’s had built a brand equity that is continuously growing. Trader Joe’s faces stiff competition from other large organic food chains therefore must stand out and adapt to the consumers’ needs. Marketing strategies are important to communicate to the consumer more effectively and help target the consumer to their product. Trader Joe’s segments its products by psychographic, behavioral and demographic characteristics
Large advertising agencies have evolved pseudo-scientific methods through experience, research and intuition that yield a demographic profile of the target audience, who are the most important predictors of purchasing behavior.
The caffeine in coffee become an ethical increase over alcohol and have become a fashionable social beverage. It was interesting to see how it started off as this very exotic drink only for the upper class and then turned into what it is now. Coffee is a very fashionable drink that does not cost much that many have led their days with in today’s society.
Identifying a new market can be a challenging task. However, when examining the preferred alcoholic beverage of three major age groups, one in particular stands out. Of the three age groups, fifty and older consumers are the age group with the smallest preference for beer. Figure 2 on the following page compares the alcoholic beverage preference for three major age groups.
could be geared towards females in an attempt to capture drinkers of Coca Cola’s Tab. In addition, males’ ages 35 to 54 consume energy beverages at a rate slightly lower than males under age 24. An energy beverage with similar stimulant effects as most energy drinks but has other health benefits (i.e. Vitamin Water, Odwalla, Naked) could also attract the abovementioned consumers.
To start with, market segment for energy drinks is targeted at group of people in their late teens to early thirties. The age group is determined between 18 to
Through its products, Coopers focuses on various niches, but the principal market for its main product group consists of those drinkers aged over 35 for whom product quality is important and price is not a primary consideration.
The target consumer market that should be chosen for a new energy beverage brand is males between the ages of 15 and 26. Marketing to this age group falls between the 12 to 34 year olds that estimate to make up 70 percent of the energy drink market (Kerin & Peterson, 2010). This would allow them to still market to the heavy users but would be able to narrow it down to a specific age group within the market. Marketing to this group would allow you to focus on groups such as high school & college students, athletes, and young adults entering the work force or newly parents. The students that would be using the energy products can use it for staying up to study or to help wake up and be alert in class. Athletes could use this product for refocusing after a workout or practice so they would crash. Young adults could use this energy drink for staying up in there social life late at night or to make sure they are awake in the morning for that new job to impress the boss. A different market would be the parents of a newborn. Markets like this could be beneficial because parents want to stay up to feed their new born and make sure everything is okay during the day especially after a sleepless night or two. Marketing to specific target markets helps companies clarify what the product is used for and how it can be beneficial instead of having it say we
The energy drink market was mostly comprised of younger individuals, 18-34 males and parents of young consumers would also often drink such energy drinks. With prices ranging $2-$5 and averaging $2.99 these were the higher priced drinks. The market surveys suggest that the main desire the consumer has is energy enhancement, however over recent years some of the market has started to erode due to health concerns.
As for other coffee consumption facts, brewing coffee at home declined from 2006-2011 with 75% of total coffee sales made “away from home” (High Beam Business, 2012). Furthermore, an interesting study revealed the growth in this target market: “another new and large growing target market within the coffee industry is college-age students and post graduate individuals residing in urban areas. These two segments account for the largest portion of coffee drinkers” (Scribd, 2012, Marketing
The consumer market is segmented according to age as well as preferences. People working in offices located close to the coffee bar and on sophisticated teenagers. Younger consumers are often willing to spend more on fancy coffee blends and signature drinks; the health-conscious would be willing to pay extra for “healthier” substitutes such as organic products; My market research shows that these are the customer groups that are most likely to buy coffee products. Since coffee consumption is universal across different income categories and mostly depends on the level of higher education.
Red Bull advertised directly to Generation Y , the so-called 'millennial': people born after 1981.