Monday, February 27, 2012

Final Project: Target Market Strategy



“Geographic segmentation calls for dividing the market into different geographical units such as nations, regions, states, counties, cities, or even neighborhoods. A company may decide to operate in one or a few geographical areas, or to operate in all areas but pay attention to geographical differences in needs and wants.” (Marketing: An Introduction Armstrong/Kotler pg. 177) In order for Cherry Poppers to grow in a healthy and profitable environment, it has to be targeted to a specific market. Segmentation is a great strategy to use when defining in what market the product must enter in order for it to have a future and reach a maturity stage. Cherry Poppers will be targeted to mostly young adult women to middle-aged women who are between the ages of 28 and 45 who currently live in large metropolitan and suburban areas. Demographic segmentation divides the market into segments based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality. Demographic factors are the most popular bases for segmenting customer groups. One reason is that consumer needs, wants, and usage rates often vary closely with demographic variables.” (Marketing: An Introduction Armstrong/Kotler pg. 177) Why this specific group? To be honest, people ingest alcoholic beverages and eat in excess mostly in times of emotional turmoil and need to express or release their emotions in some way. Women are more emotional to men and women between this age range are most likely to be facing problems that make their lives seem unstable and worrying, ranging from sentimental to financial, that directly influence their ingest of alcohol and treats. Psychological distresses such as middle-age crisis also play a role in most subjects in this age group. It sure is a crude and raw approach to this target market strategy but I need to keep an objective view in order for my product to succeed.

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