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Marketing (Student Name) (Instructor’s Name) (Course Name) 23rd May 2012 Task 1. Psychographic factors which can be used to segment the market Some of the major psychographic aspects that will determine the consumption of the new product behavior include opinion and interests, level of loyalty and occasions.
Average consumers Another attribute that I would use to segment the market is by the level of the consumption by the consumers. Most particularly I would focus at needs of the teenagers who are key part that forms average consumers. In this regard, I will undertake an intensive advertisement especially via the social sites such as face book and twitter in order to capture the attention of the average consumers. Benefits One of the key aspects that I would consider in the product segmentation is the benefits provided by the product. TM new products will create a strong positive relationship with our consumers thus enhancing the sales and profitability of the company. Additionally, the new product will be a favorite brand for young people in colleges especially during social occasions. Usage Based on the usage of the brands, consumers of the soft drink can be classified into light, medium and heavy consumers. Task 2. Major segments of the soft drink product Based on the psychographic aspects described in task 1, this section identifies key segments that I will focus at in order to maximize the sales and the consumption of the TM new product. Fashionable brand conscious customers This is one of the major soft drink segments that include young people in colleges and universities. ...
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