Kit_Kat_Marketing_Plan_Singapore.docx

Cultural factors cultural factors are shaped by the

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Cultural Factors Cultural factors are shaped by the society and institutional forces. Singaporeans enjoy eating and thus the food scene in Singapore is extremely lively. Singaporeans exhibits strong interest over popular foods and new products. When wants are supported by buying power, they become demands. Hence, KitKat should create new flavours to cater to Singaporeans’ taste and preference to increase demand. Social Factors Social factors are driven by family, peers, opinion leaders and inspirational figures. Singapore has one of the most aggressive social media consumers. Such an example will be Instagram. Thus, consumers can be easily swayed by opinions of aspirational personnel that they look up to. It is vital that KitKat extend their arms to opinion leaders, such as influential figures on Instagram as Word-of-Mouth influence to spread the word of new products and excite followers. Personal Factors Personal factors such as age, occupation, lifestyle and personality also influence buying behaviour. Individuals have different preferred choices as they are of different age group or occupation. Brand preference of individuals take account into brand attachment, familiarity or habits. It is important for KitKat to place themselves alongside to factors of the target market. By doing so the consumer will feel akin to the brand. In this marketing plan, KitKat are positioned as “experiencing greater pleasures in a break” Psychological Factors An individual’s buying behaviour are mould by attitudes and beliefs, motivation, perception and experience. As a market leader, KitKat can benefit from this position to assure quality and satisfaction is profoundly rooted into the beliefs and attitude of consumers 24
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MKTG 1199 – Marketing Principles (LF02, Group 2) 4.4 Target Market Strategy. Target Market Young adults aged 18-24 are our chosen target market. These young adults have busy lifestyles which revolve around school, sports and part-time jobs. They are constantly on-the-go and seeking for a quick bite to boost energy levels in between classes, breaks, and whilst travelling to their part-time job locations. They are also a variety- seeking group which can be a catalyst for them to spend on new products. They can be classified as an experiencers according to Values, Attitudes and Lifestyle (VALS) framework. This segment matches with KitKat Brand identity, allowing them to feel akin to the brand, supporting emotional connection with the brand and eventually becoming opinion leaders for future buyers of KitKat . By concentrating efforts into this target market, it provides KitKat with a competitive edge over competitors and reduces marketing costs that are not required. 25
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MKTG 1199 – Marketing Principles (LF02, Group 2) 5. Positioning - Cass 5.1 Positioning Perceptual Map Price vs Perceived Quality Price vs Variety of Flavors High Price High Quality Low Quality Low Price 26
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MKTG 1199 – Marketing Principles (LF02, Group 2)
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