The following diagram shows the income distribution (media per capita income in 2009) of Baton Rouge, Louisiana area. (Source: “Baton Rouge..”) As per the media per capita income distribution in Baton Rouge in 2009, the Whites have high inflow of income as compared to other groups. The chart indicates that the Hispanic is ranked just below Whites in case of media per capita income distribution. The 2010 census reflects that the Baton Rouge’s population comprises of 50.02% African American, 45.7% Whites, 2.62% Asian, 0.18% Native American, and 0.49% other races (Louisiana’s report…). The historical trend figures point that the percentage of Whites in the city’s population gradually increases over the last two decades. The White’s population growth together with improvements in living standards offers potential advantages for the coffee market. This type of market segmentation assists the coffee industry to easily identify the purchase power of consumers and to design cost-effective promotional tactics for different market segments. A number of surveys have indicated that as compared to blacks, whites like coffee more. Hence, the Whites may turn out to be the potential market segment for the company. However, majority of the African Americans and Asians are also regular users of coffee. Targeting strategy While developing a targeting strategy for the coffee market, it is necessary to analyze the coffee consumption culture of the population. (Source: “2008 National Cofee Drinking…”) The given figure indicates the graphical representation of the outcomes of the “2008 National Coffee Drinking Trends Study”. This study focused on the coffee consumption trends in different age groups and published a comprehensive report detailing coffee trends over the last eight years. From the above chart, it is clear that the percent of coffee drinking in the United States is directly proportional to the age of the population. The graph clearly illustrates that people over the age 60 are more likely to drink a lot of coffee as compared to other age groups. Likewise, youngsters between the age of 18 and 24 are less likely to drink coffee as they are heavily attracted to modern beverages. It is advisable for the company to target people over the age 30, because the trends study shows that youngsters very rarely take coffee. However, a growing coffee consumption trends is seen among the age group 25-39; therefore, it is also advisable for the company to give more focus on this group of consumers as potential prospects. Target segment descriptions As we discussed earlier, a major proportion of the Baton Rouge’s population represents Whites and African Americans even though the city is an agglomeration of different cultures. The demographical information show that the city’s 35.8% of the total households are married couples whereas 40.8% are non-families (“Private hard money…”). The 2010 census data reveal that the Baton Rouge’s average household size is 2.42 while its average family size is 3.12. The percent of people living under the age groups of below 18 is; 18-24; 25-44; 45-64 and 65 and above is 24.4%, 17.5%, 27.2%, 19.4%, and 11.4% respectively (BatonRouge). The population trend indicates that there are only 90.5 males for every 100
Market Segmentation for the Coffee Market Introduction Market segmentation is a process of forming sub-set of a market that contains people or organizations with one or more similar characteristics that would influence them to demand same kinds of products and services on the ground product/service qualities and price…
Taking above into account, it should be pinpointed that Volt costs nearly 41,000 after inclusion of taxes to a consumer, whereas the Nissan’s Leaf costs $32000 (after tax) on average (Weingarten, 2011). Nevertheless, the initial target market of Chevy Volt is upper – middle and elite consumers with stable purchasing power and with inclination to acquire premium quality branded electric automobiles.
Segmentation is also key in brand positioning and enabling a business to maximize its profitability (Smith, 1956). The purpose of this paper is to show the effectiveness of proper market segmentation and targeting in brand positioning, customer retention and maximizing profitability.
The business operated one facility in Seattle, Washington, until 1984 when the business was sold to Schultz’s II Giornale. By 1987, Starbucks had 165 different sales centers of operation. In the late 1990s, Starbucks had a dedicated American following, and the business began its expansion into international countries, where it is now present in 55 different countries.
The company aims to adopt a step wise approach to the market where distribution network will be used to distribute different types of herbal and specialized teas to wholesalers, retailers, restaurants, hotels, and coffee shops. Wholesalers in particular will be engaged to make distribution to large retail stores such as Tesco, Sainsbury’s, and Asda, etc.
Holden Trucking Services offers localised services rather than centralised as the other trucking services. The firm intends to manage its growth b y looking into these underserved markets and offer the market the services in an efficient and affordable manner to make sure that they can easily afford the services.
Identifying the target market without correctly understanding the customers’ needs is considered as an ineffective marketing strategy. Therefore, being able to deliver the specific needs of Bunn-O-Matic’s target customers is the key behind the company’s
oes into the marketing of each product is rather extensive as companies try to figure out who to sell their product to, how much to sell their product for, and how to go about pushing their product into the forefront of the public’s increasingly short attention span. One of
ucing unique and technologically advanced vending equipment; the initial routes that will be used by the company comprise of the Central and Southern regions of Florida. The main aim of Express Vending LLC is to be the leader in introducing complete range of the best quality and
These include the consultation of taxes, auditing, planning and preparation, reviewing and completing of the financial statements, IRS, Payroll services, and representation of the state among other relevant accounting and financing
3 pages (750 words)Research Paper
Get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Apply my DISCOUNT
Got a tricky question? Receive an answer from students like you!Try us!
Didn't find an essay?
Contact us via Live Chat, call us at +16312120006or send an email to firstname.lastname@example.org