Market Background

Market departmentation is the process of dividing a commercialize into distinct groups of buyers who have distinct needs, characteristics or behavior and who might consume separate harvest-festival or trade salmagundies (Kotler, 2004). Underlying the decision to instalment the merchandise is the recognition that a single market is non represent of people with homogenous needs, attitudes amd behavior and therefore requires a different marketing strategy for each group of people. This process helps marketers in identifying opportunities for a mod ware or product mix by identifying specific needs of a group of consumer marketer (Kinsey, 2005)Market sectionalisation washbowl be done in many ways. A company with a client base over a large geographic area can divide its market into various geographic areas. It can also segment the market on the basis of demographic factors such(prenominal) as gender, age, family size or family life cycle stage, profession, education, ethnic al background etc. former(a) techniques include psychographic segmentation is another type of segmentation that is found on social class, lifestyle or personality characteristics and behavioral segmentation that is based on the consumer knowledge attitude, use or response to a product (Kotler, 2004). Other than the geographic segmentation all the other segmentation techniques requires a lot of consumer research with a demographic research on a lesser extent.Whatever segmentation techniques are used the market segments set must be measurable in terms of size, purchasing office staff etc, accessible through stone pit marketing, substantial, differentiable so that they should deserve the investment in a separate marketing strategy and actionable that is creating a marketing strategy for it should be practically possible for the company (Kotler, 2004).The toil at hand is to segment the beverage market, decide on the target market and then design the most effective product mix for that segment. The beverage under consideration has an ingredient that is perceived to have wellness advantages. Thus, the drink can be positioned to be a wholesome do-gooder to a healthy diet. The fact that their competitors have limited themselves to athletic males has unexpended most of the market open for new product.The company can market the product to a much larger psychographic segment which is of health witting consumers. On a secondary level some demographic segmentation can be done where students and young professionals are targeted through pertinent marketing strategies that promote the drink as a source of nutrients inevitable for mental and physical growth necessity to cope with a demanding environment. in any case a market strategy can be designed such that it encourages product use n the morning with breakfast. This type of strategy comes in the occasion segmentation as part of the behavior segmentation. With a muscular promotion program the beverage can become a necessary morning drink for all health conscious people.As the product is world promoted as a health drink it should contain purloin nuitrants and vitamins and fruit extracts whose details should be given on the package. As it is being promoted as a morning drink it should be light and should not have sharp taste or smell. Also along with mortal packages it should be available in easy to open packages that contain at least seven servings.Kinsey, J & Yeap, C. (2005). Buyers and Market Segments Food Marketing Economics. Presented at APEC 4451/5451 lecture at University of Minnesota