Analyze of Market Segmentation of Coca-Cola
Individuals with different product requirements have heterogeneous needs. Market segmentation is the process of differentiation a total market into subgroups consisting of people who demand similar products. A market segment composes of individuals, groups or organizations with special characteristics that incline them to have similar product needs. It allows the companies to provide better demand satisfaction. Moreover, consumer markets can be characterized by geographic, demographic, psychographic and behavioralistic. My case brand Coca-Cola is one of the most successful firms in terms of market segmentation. When we look at demographic segmentation of the company, Coke Zero can be a good exemplification. After the company research that Light Cola was regarded as ‘girly’ and ‘feminine’ by male customers, the company developed a new type of product, branded Coke Zero that is aimed at the health-conscious males. Another aspect is geographical segmentation. In lots of situations needs of potential consumers in one region can be different from another due to climate, custom or tradition. Coca Cola produces 12 different kinds of product in 6 different categories in all around the world and for example, while coke is coming to maturity level in America, it can be considered as infancy in China. Because China’s geographical position is more suitable to produce and consume tea and it makes differences in drinking habits. On the other hand, when it is handled psychological side, Coca-Cola advertisements are the best examples. For example, before national football matches or in the Ramadan the most impressive and touchy ads belong Coca-Cola. Furthermore, radio commercials in the past are prepared in a way of appealing to every single region separately according to their domestic sings and images in Turkey. Although the origin of the Coca-Cola is American, the company can acting local by thinking global.It can be key of the...
Please join StudyMode to read the full document