The Selection of a Target Market Impacts on the Marketing Strategies

1841 WordsMay 24, 20118 Pages
Marketing is a system of business activities designed to plan, price, promote and distribute ‘want satisfying’ products to customers in the market in order to achieve business objectives. However, the total market is very large and it would be impossible to develop some strategies that would meet customer’s needs and wants of everyone better. Because of this, businesses break the market down into segments which are so important for businesses to aim at their specific target market. The best relevant business case study to illustrate the selection of market is ‘Sprite’ produced by Coca Cola. The target market needs to be identified. The target market is the current/ potential customers with similar characteristics. For ‘Sprite’, a new…show more content…
But product itself was not changed as it has already been established by its market to have a great taste. However, Sprite can be available to change in range of sizes from 300ml bottles, 370ml cans to 2 litre bottles. 1. Positing: it is the strategy of placing the business in the market and creating an impression in customer’s mind. Creating a position that will give their products the greatest advantage in their target market. ‘Sprite’ would probably be places below solo, coke, but above Fanta or other stores because of the ‘cool refreshment’ with low price. 2. Branding: is a product feature that adds values to business. And it is the tool to distinguish one company from others. A lot of customers may only buy product because the brand is well know such as Coca-Cola or Sola. During these years. ‘Sprite’ is establishing its own branding to make customers feel a sense of security and predictability. 3. Packaging: is the design of containers which Sprite used. It can protect products and provide information. The packaging of Sprite was changed in order to disassociate the drink with lemonade by designing a new label that reflected Sprite’s new ‘cool’ identity. It involves changing the colours from white to green and blue. It becomes more attractive and fresh. The circle of yellow and green means carbonation was removed and the only symbol associated with lemonade was a small yellow dot above the letter ‘i’of Sprite. That will make their

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