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Your assignment is to prepare and submit a paper on nielsen nugget. A SEGMENT WHICH AWESOME BEANS SHOULD CHOOSE TO TARGET MORE AGRESSIVELY. Based on the data provided by Nielsen company, awesome beans
Your assignment is to prepare and submit a paper on nielsen nugget. A SEGMENT WHICH AWESOME BEANS SHOULD CHOOSE TO TARGET MORE AGRESSIVELY. Based on the data provided by Nielsen company, awesome beans has taken an initiative to segment and differentiate consumers into four categories based on their common needs and buying motivation .Since the coffee sales have shown a slight growth, it’s better to choose a segment in which to target more. In the four segments, premium people segment should be selected as it provides more revenue compared to other segments. This segment also contains a higher percentage of buyers (24) than the others. It also has the highest percent of the coffee dollars (35) and has a high market index. Also, according to competitiveness, it has the lowest yet it constitutes of the large amount spent by consumers compared to other segments. Therefore more targets to this attitudinal group will help the company to take the advantage of the slight growth in the market.
2. HOUSEHOLDS TYPES THAT WOULD BE THE MOST APPROPRIATE DEMOGRAPHICALLY TO TARGET WITH PROMOTIONS
Based on the behavior of different consumer under different conditions, among those who use the Premium people type of coffee, the old singles and couples would be appropriate to target with promotions. This is because they compose of the largest population in the market and by attracting them to use premium people more sales will be realized and hence awesome beans would be able to take the advantage of the slight growth in the coffee market. Some of the promotion strategies that could be used in this demographic segment includes: better and enhanced packaging, better distribution strategies, direct marketing, advertising, publicity and sales promotion. This will ensure that the target demographic group has all the information regarding the product, hence they will consume more of it. These promotions will also make the product more competitive and hence the profitability of the product will be enhanced.
The other demographic group to target with promotions would be young families because this comprises of the second largest consumers in the market, if most of them could turn to the use of the product, more profits would be realized.
3 .DEMOGRAPHIC DIMENSIONS TO BE CONSIDEREDAS POTENTIAL SEGMENT –DEFINING VARIABLE.
Some of the factors that need to be considered in the potential segments includes.
Know about the composition of the population and their income trends in the global market and how they affect marketers. This will help in selecting the best strategy of marketing and the channel of distribution of the product Premium people.
It is important to consider and understand how the population growth is shifting in different areas and for different age groups. This will help the awesome bean company to plan for the future. It will also help to cope with competition as demand changes with a change in population.
Distribution of incomes of different age groups and people. This will help to identify which demographic group to focus on mostly. The group that has people with the highest incomes is the best to focus on.
It is also important to consider how consumer spending is related to family life cycle and other demographic dimensions. This will help to know at which stage of the family life cycle has the highest demand and hence shift the attention to that stage.
It is also important to know the importance of ethnic markets and why they are increasing the focus of cultural marketing strategies. This will help to know the segment to shift the organizations’ product to.
Reference
Kotler, Philip, and Kevin L. Keller,(2012). .Marketing management. Upper Saddle River, N.
