{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

final marketing project paper

We also realized that people who graduated college or

Info iconThis preview shows pages 6–9. Sign up to view the full content.

View Full Document Right Arrow Icon
had a post-graduate education level. We also realized that people who graduated college, or just attended, had a high percentage rate when it came to using Reddi-wip. People who did not attend college or graduate from high school had the lowest percentage when it came to using Reddi- wip. The next thing we looked at when it came to creating market segments was age. Our group figured out that the highest users of Reddi-wip were between the age of 45 and 65 years old. These people were 15% more likely to use Reddi-wip than the rest of the general population. We also realized that the lowest percentage of users were between the ages of 18-34, and also
Background image of page 6

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
people that were over the age of 65. After looking at the percentages of Reddi-wip users based on age, we wanted to see the percentages of users based on race. We discovered that white people had the highest usage percentage, which was 11% more likely to use than the general population. We also found that black/African American people had the lowest usage percentage, and Asian people, along with American Indian’s, did not have a very high usage percentage as well. After looking up information on Reddi-wip, we decided to look up information on Reddi- wip’s main competitor Cool Whip. We found that household’s that bring in lower incomes prefer to buy Cool whip, whereas household’s that bring in higher incomes prefer Reddi-wip. Also, unlike the Northwest Region of the U.S where Reddi-wip has the highest usage percentage, the region where Cool Whip is used the most is the Midwest Region, which is a Region where Reddi-wip has a lower usage percentage. From information such as this, we decided it would be best to stay away from certain target markets where Cool Whip is preferred. After making these discoveries, we decided that the target market we should focus our marketing program on should be white women, between the age of 55-64, that have a post graduate education level, and currently live in the Northwest Region of the United States. Target Market The Target Market that we plan to appeal to is White women, ages fifty-five to sixty-four with a post-graduate education. When choosing our target market we used five different sets of criteria: Market size, Expected growth, Competitive position, Cost of reaching the segment, and compatibility with the organizations objectives and resources. While examining the target size we concluded that the baby boomers range in age from sixty-six to forty-eight and are the biggest target market with seventy-six millions people. Our
Background image of page 7
target market of women ranging from fifty-five to sixty-four falls directly in the middle of the baby boomers generation. According to our textbook The Core Marketing 4/e , the participation of the baby boomers in the workforce has made them the wealthiest generation in United States History. According to the Mediamark database our chosen target market of white women, ages fifty-five to sixty four with a post-graduate education are the most likely to be consumers of a Reddi-wip product. It is safe to say that since these women produced the latter half of the
Background image of page 8

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}