Customers are not segregated on the basis of age, sex, color or race. 2) Differentiated Marketing In this sort of marketing strategy the firm tries to target different segments of the market and a different marketing strategy is adopted for each segment of the market. 3) Concentrated Marketing In this strategy the firm chooses one segment of the market and focuses exclusively on that particular segment for its products. The product fulfils the needs of that particular group of customers only. For our product –Glaceau Smart and Vitamin Water; we have decided to apply the concentrated marketing strategy. We are going to target only one section of the customers for our products. The target market which has been selected for our product has the following features – Smart Water Men above 35 years of age Economically successful – main target is upper middle class male; more than $ 60,000 income. Marital status : Married Focused on staying young and healthy – visits the gym regularly or exercises ,buys health drinks Occupied in sedentary jobs like management, software professionals etc. Vitamin Water Women above 35 years of age Economically successful-main target is the upper middle class Focused on health and staying young-visits the gym regularly or exercises or diets. Occupied in sedentary jobs Smart Water and Vitamin Water can be put under the functional foods category. Functional food may be defined as any type of food product where a new ingredient has-been added in order to make the product healthier. (Glenn R. Gibson)Thus Vitamin Water and Smart Water can easily be defined as functional foods as they add nutrients to water and make it healthier for the body. Functional food industry has been witnessing increased growth in USA these days. According to a survey conducted by Nutrition Business Journal a US citizen spends $50 per month in order to buy functional foods and this amount is increasing each day. It also says that only 8.7 % of the population has never purchased a functional food product – rest 91.3% has at one time or the other bought some or other category of functional foods. (Nutrition Business Journal).This report shows the vast potential for functional food products. So our decision to market Vitamin Water is both timely and fulfils a major consumer demand. However the question still remains as to why have we decided to target people above 35 years of age and why only those who are economically successful. A research by Mintel states that people prefer functional foods due to the following reasons- Reasons for functional food purchase % Make up for unhealthy eating 48 Weight loss 44 Supplement my diet 35 Address health issues 30 Avoid eating empty calories 26 In place of a meal 16 Others 7 Source: (Mintel International Group Ltd.) Vitamin Water and Smart Water can be targeted to all the people who are mentioned above except probably those who eat functional food in place of a meal or for other reasons. Vitamin Water and Smart water contains additional supplements which can provide supplement diet , addresses health issues due to lack of vitamins , helps you avoid calories and still intake vitamins and can also assist you in weight loss as you can replace water for your nutrient intake instead of food. Thus our products can be sold better to those who are concerned
Professor Name 10th December 2012 Marketing Advertising IMC Plan Targeting Targeting means splitting the market into different segments and analyzing each segment for the benefit it offers to the company. This is a primary requirement for any company before it decides to spend a large amount of money on advertisements and other marketing methods…
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The purpose of this paper is to evaluate and present IMC plan on Geico insurance company. The research will start with the organization background of the company; analysis of promotional program situation; analysis of communication process; budget determination; IMC program; tactics & integration.
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