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Principles of Marketing Table of Contents 1.0 Introduction 4 2.0Features of Segmentation 5 1.1Measurable 6 1.2Accessible 6 1.3Substantial 7 1.4Homogenous 7 3.0 Segmentation Failures 7 3.1 Improper Market Research 7 3.2 Improper Communication 8 3.3 Small Market Size 8 3.4 Low Buying Power 8 3.5 Improper Marketing Mix 8 4.0 Overcoming Failures 9 4.1 Better Brand Visibility 9 4.2 Better Communication 9 4.3 Market Research 9 4.4 Right Combination of the 4P’s 10 4.5 Integrating Features 10 Conclusion 10 References 12 1.0 Introduction This study seeks to examine the significance and implication of segmentation for a company.
Sprite is a product of Coca Cola, and therefore, it is necessary to introduce the company briefly. The Coca Cola Company came into existence in 1886 in Atlanta, Georgia. Since then it has grown to become one of the most popular names in the beverage market around the world. Presently, Coca Cola operates in more than 195 countries around the world. It has more than 30,000 employees working for its different SBU’s worldwide. One of the greatest strength of Coca Cola is its worldwide presence and excellent planning. The unique feature of Coca Cola is that they do not act like a MNC; they do business locally (The Coca Cola Company, 2012). Coca Cola have standardised their core product. They focus on the fact that the drink should taste the same in all the parts of the world. The statistics clearly signifies that Coca Cola’s strategies are following the right path leading to their production and licensing of about 3,500 drinks in more than 200 countries. Sprite is one of the highly acclaimed products of the company. ...
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