marketing strategy, Molson Coors, Tesco, Volkswagen group, european market, market, mass marketing
Sometimes marketers use the mass marketing approach where they lack a precise understanding of their consumers, and the objective is to offer certain products or services to a huge market with the belief that this would result in volume sales. In most cases, such a strategy is focused on targeting the highest population of consumers, such as on busy streets. Such businesses rely on the hope that due to the low price and functionality of the product that they are offering, they will attract a high number of consumers and generate substantial sales (Andaleeb, 2016). This approach does not consider the specific qualities of the consumers or their desire to be different from the mass market. However, a product can be more appealing to the consumers if it is customized to fit the customer's needs based on demographic and geographic qualities (Bo Liu et al., 2014).
The customization of product offerings illustrates a focus on segmented markets comprising consumers who have shared needs and behave in a common way (Islam, 2021). In marketing literature, the set of consumers is referred to as a market segment. The process of segmenting a market, therefore, is a process of trying to identify and categorise groups of consumers into categories where the individuals share specific characteristics (Islam, 2021). From a broader perspective, clustering can also be attained through clustering communities or regions based on specific traits such as language, practices, or religious practices. According to Andaleeb (2016), segmentation refers to "the process of identifying specific groups of potential consumers with homogenous attributes who are likely to exhibit similar responses to a company's offering or marketing mix" (p. 180). It is inevitable for companies that want to increase their revenue to segment the consumers.
[...] (2018) `Michael Porter's five competitive forces and generetic strategies, market segmentation strategy and case study of competition in global smartphone manufacturing industry', International Journal of Applied Research, pp - 45. Li, L. et al. (2018) `Industry-wide corporate fraud: The truth behind the Volkswagen scandal', Journal of Cleaner Production pp - 3175. doi: 10.1016/j.jclepro.2017.11.051. Lowe, M., George, G. and Alexy, O. (2012) `Organizational identity and capability development in internationalization: transference, splicing and enhanced imitation in Tesco's US market entry', Journal of Economic Geography, pp - 1054. doi: 10.1093/jeg/lbs016. Matthews, D. (2020) Tesco: even more prices that take you back by bbh, The Drum. [...]
[...] Segmentation, Targeting & Positioning CONTENTS I. Introduction 1 II. Volkswagen Group 3 III. Molson Coors 5 IV. Tesco PLC 7 V. Recommendations 8 References 10 Introduction Sometimes marketers use the mass marketing approach where they lack a precise understanding of their consumers, and the objective is to offer certain products or services to a huge market with the belief that this would result in volume sales. In most cases, such a strategy is focused on targeting the highest population of consumers, such as on busy streets. [...]
[...] Segmentation is the process of identifying and categorizing customers into groups based on their shared characteristics, such as age, gender, location, and lifestyle. This process allows businesses to better understand their target market and design products that appeal to specific customer segments. Segmentation is a powerful tool for product offering since it helps companies to better understand their target customers and tailor their products and services to each segment's needs (Andaleeb, 2016). By dividing the market into smaller, more specific groups, companies can develop more effective marketing messages, as well as more precise targeting and pricing strategies. [...]
[...] (2013) `Key strategies and issues of positioning: A review of past studies', American Academic & Scholarly Research Journal, pp - 66. Crawl, J. (2019) `Voss and Dwayne Johnson introduce "live every drop" campaign', BevNET.com August. Available at: https://www.bevnet.com/news/2019/voss-and-dwayne-johnson-introduce-live-every-drop-campaign. Ewing, P. (2021) `Growing up: vertical integration in the cannabis industry'. Rochester, NY. doi: 10.2139/ssrn.3984225. Heldman, D. R. (2021) Molson Coors debuts a non-alcoholic cannabis beverage range 2021-11-05 Food Engineering, Food Engineering. Available at: https://www.foodengineeringmag.com/articles/99784-molson-coors-debuts-a-non-alcoholic-cannabis-beverage-range. Islam, M. M. (2021) `Segmenting, targeting and positioning in Islamic marketing', Journal of Islamic Marketing, pp - 1404. [...]
[...] The marketing campaigns have been successful in conveying the company's positioning strategy. The company has used various marketing channels, such as television, radio, print, and digital media, to reach potential customers. Through its campaigns, it has been able to convey its commitment to quality, reliability, and affordability. Molson Coors Beverage companies have a long history of using market segmentation to effectively target their products to the right consumer. An illustration of this is the Molson Coors beverage company, which has previously been known for dominating the beer market. [...]
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