IDENTIFYING THE POTENTIAL SEGMENTS
AND CONSUMER BEHAVIOUR ANALYSIS
PREPARED FOR RAW COFFEE BEANS PTE LTD
CEO, MR ANDREW CHIEW
PREPARED BY ESTEE YAN
CSM 103 INTAKE 87
19 FEBRUARY 2013
Table of Contents
Introductory: Local brands available
Market Segmentation: Psychographic
Market Segmentation: Demographic
Market Segmentation: Behavioural
Potential Internal Influences:
Perception to our Advantage
Subliminal Teaching of Consumers
Motivation: Why Choose Us?
Brand Personality & Lifestyles
Consumers’ Decision-making Process
Introductory: Local brands available
This report will help you identify the key potential segmentations for your new type of Robusta raw coffee beans and analyse the different kinds of consumer behaviour in Singapore. Coffee sales have been slowly becoming very profitable in cosmopolitan Singapore. Some of the more commonly recognized names now include “TCC – The Connoisseur Concerto”, “Starbucks Coffee Singapore”, and “Coffee Bean and Tea Leaf”. Coffee houses such as these, even the smaller, lesser-known joints have tapped into the desire to have a nice place to have some drinks and a chat. Upon realizing that, multiple businesses of similar operations have been springing up, bringing the need for coffee beans further up a notch. Trade and demand for coffee beans, as you would know is second to only oil, is seeing a slow but steady growth as more and more people start to appreciate Fashion Cafes and coffee. In Singapore, an increasing number of the types and brand of quality coffee beans are becoming easily available, ranging from Papa Palheta, Il Classico, Coffee Arabica, Don Miguel, Canephora, and S&W, amongst many others. In comparison to Arabica, some points of the Robusta beans that you want introduce to the market are hardy, easier to grow, has two times more caffeine. The increased amount of caffeine gives a stronger taste, and some find it rather bitter. These attributes already make your beans set to be able to sell better than Arabica despite Arabica being sweeter, since people can use Robusta as a base to be mixed with Arabica. The profit margin for Robusta will have to be closely monitored and kept low, as other people can copy the marketing model.
Marketing segmentation helps marketers to group consumers appropriately and identify the specific needs for each group more precisely. After doing this, resources can be allocated accurately and the marketing mix can be adjusted perfectly. 2.1. Market Segmentation: Psychographic
This type of segmentation splits the market into groups according to the lifestyles of the consumers. The potential influences on buying behaviour are taken into consideration, including the attitudes, expectations and activities of consumers. If these are known and understood, then products and/or marketing campaigns can be customised and strategised so that they appeal more specifically to customer motivations, giving them more reason to purchase that product from the seller. In a nutshell, psychographic segmentation center on why people are buying this product. One can make use of this option to determine and define the target market, to allow one to see their market in a new view, or to place emphasis on product features to cater to the lifestyles of the consumers.
Psychographic segmentation is also useful when one wishes to bypass the cons of motivational research and quantitative research. Sometimes, the findings gathered for motivational research may be too subjective to the individual’s opinions, while quantitative survey may sometimes be too vague and provides little accurate information. Something that makes use of the psychological (basic...
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