COCA COLA Alyssa Davis October 28, 2012 I. Target Market Strategy
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
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.
- Spring '08
- Marketing, The Coca-Cola Company, coke zero, Diet Coke, Coca-Cola Blak