4. Strategies for the selection of Marketing
All marketing strategy is built on STP - Segmentation, Targeting and Position. A company discovers different needs and groups in the marketplace, targets those needs and groups that it can satisfy in a superior way, and then positions its offering so that the target market recognizes the company’s distinctive offering and image (Kotler and Keller, 2006).
a) Segmentation, Targeting and Positioning
A market segment consists of a group of customers who share a similar set of needs and wants (Kotler and Keller, 2006).
According to the segmenting consumer markets, we choose to identify the distinct groups of customers on geographic, demographic, psychographic and behavioral.
For geographic segmentation, it is dividing the market into different geographical units such as nations, status, regions, counties, cities or neighborhoods. We decide to focus on the markets of Hong Kong because we believe that Hong Kong is a potential market for fresh and healthy food.
For demographic segmentation, it is dividing the market into groups on the basis of variables such as age, life cycle, life stage, gender, income, generation, education or social class. We identify that as the well-education, people understand the importance of health, people increase their health conscious and people started moving towards low fat and high fiber products to avoid heart disease and certain types of cancer.
For psychographic segmentation, costumers are divided into different group on the basis of personality traits, lifestyle or values. As the improvement of the quality of life in recent year, people pursuing health lifestyle, people want to eat healthily so they care about how much calories and nutrition that they are absorbed.
For behavioral segmentation, customers are divided into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. As the change of the knowledge of a product, people know which products are unhealthy so that they can avoid it and choose the healthy products.
Based on the above points, we can know that the trend towards being healthy is more and more important. However, people are more and more busy of work, they do not have time to cook for themselves so they always skip the breakfast. There is no doubt that breakfast is very important to our health, so we recommend Garden to create a new line to provide convenience, fresh and healthy food to customers. - Targeting
After a company has defined market segments, it can enter one or many segments of a given market and should make decision about how many and which customer groups to target (Dibb and Simkin, 1996).
The selection of potential customers to whom a business wishes to sell products or services is called targeting. According to the segment marketing, we decide to concentrate the targeting on consumers who have health conscious.
There are five patterns of target market selection. They are single-segment concentration, selective specialization, product specialization, market specialization and full market specialization. We choose the single-segment concentration to be the target market selection. That’s means we concentrate the marketing effort on one segment of the market. The firm will develop a product that caters for the needs of that particular group.
Position is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market. The goal is to locate the brand in the minds of consumers to maximize the potential benefit to the firm. (Kotler and Keller, 2006). The position of the product is convenience, fresh and healthy food. There are some approaches of position. For attribute, we provide a meal for customers, not only to eat, but also healthy. For benefit, customers can seek the taste, nutrition, good value and freshness. For value, it’s fresh and good for customers healthy. For...
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