COCA COLA - unit 2 - COCA COLA Alyssa Davis I Target Market Strategy Segmenting Segmenting allows companies to better reach their customers by offering

COCA COLA - unit 2 - COCA COLA Alyssa Davis I Target Market...

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COCA COLA Alyssa Davis October 28, 2012 I. Target Market Strategy
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Segmenting Segmenting allows companies to better reach their customers by offering different products that appeal to different groups. They separate and evaluate these groups by using 6 different methods: benefits, demographics, geographics, psychographics, geodemographics and loyalty. Below are some of the market segments that Coca-Cola gears their products towards. Targeting The consumer decision-making process is the process that one goes through before, during and after a purchase decision. There are 5 specific steps to this process: need recognition, information search, evaluation, purchase, and postpurchase. To show the working of this process, I will go through the target market process for Coke Zero, that of Generation Y males. - Need recognition : A young male is thirsty and wants to quench that thirst. He isn’t looking for something with a lot of sugar but doesn’t want to purchase a drink with the “diet” stigma attached to it. - Information search : This section has two aspects, internal and external. Internal information will be his memories and previous experiences (has he tried Coke
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Zero before and liked it?). External will be influences from friends and family, entertainment, advertisers, etc. - Evaluation Process : This step is where he will decide what benefits he is looking for from this purchase. In this instance, he is looking to quench his thirst with a low/zero calorie soda but doesn’t want the stigma of a diet soda that goes with it. Coke Zero is a great choice for what this consumer is seeking. - Purchase : The young man chooses to purchase a Coke Zero and exchanges the correct value for it (money). He likes that he can drink a soda but without all of the sugar and calories or the stigma of diet soda. - Postpurchase : After drinking his soda, his thirst is quenched and he feels customer satisfaction. The flavor was good and he didn’t have to buy a diet soda to meet his needs. This will create a memory for future purchase decisions for this man and he will experience customer loyalty (continued satisfaction teaches the consumer to keep buying the product). Positioning A perceptual map is how a product is positioned in a customer’s mind compared to similar products that their competitors are selling. It is a grid formed based on quality and price of the competing products.
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  • Spring '08
  • Newberry
  • Marketing, The Coca-Cola Company, coke zero, Diet Coke, Coca-Cola Blak

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