For past 20 to 30 years market segmentation has been defined in different ways. Marketers are breaking the market into parts, to segment the buyers. Based on characteristics and the buyers needs the marketing strategist will categorize buyers. A well developed strategy will help the organization to establish and strengthen its position in the market so as to function more effectively. Mass marketing is a process where the entire company ignores the market segments and goes after the entire market with just one product. Mass market focuses more on high sales and low price. Targeting becomes the second stage in process of STP strategy. After segmenting is done, marketers target the right audience to sell their products and services. There are three targeting options a firm can adopt.
[...] Before launching phun, First Fruit enjoys a good company must have surely advantage as it can done market research to conduct a market research find out whether the and launch and also know parents are price what price is consumer is sensitive or not. willing to pay. Phun before launching First Fruit needs to must have considered the launched keeping in view price competitive the price sensitive market. market. Place- This marketing mix element can be defined as channels of distribution where the product can reach the targeted consumers. [...]
[...] (Bengt Karlof, 1993) Conclusion Product Development method from Ansoff Matrix and Differentiation strategy from porters generic model are the two method company can adopt. High sales, good customer loyalty can be possible if company has following ways- Good access to scientific research Creative product development team Strong sales team Reputation for quality and innovation Problems with Marketing Awareness for First Fruit Pres release attracts many consumers to the website and in turn can set a margin for attracting youths. However the problem is that not many youths are attracted to the news article published in the newspaper. [...]
[...] Let's see the comparison between Phun and First Fruit Product- Any good product in the market will itself. Product is physical product which is offered to the consumer. Packaging, service, warranty, functions and appearance s what consumers look in the product. Phun First Fruit Phun satisfy the needs First Fruit is directed of children towards the teens. It has artificial First Fruit is a fruit ingredients which are based drink and is aimed sweet and usually what at health market. [...]
[...] Undifferentiated which is also known as mass marketing is a process taken into consideration only when the product is new in market with no competition, the characteristics of buyers are same and have enough resources to undertake mass production. Using this strategy, the marketers will target a single market and carry on promotion using same marketing mix. This would save production cost for the company. Differentiated marketing strategies are used by many firms to promote many products with different marketing mix as per the needs and wants of customers. [...]
[...] Positioning is what customer believes and what not company shows them. Positioning can helps the measure the competition WM soft drink company has to face. Managing the product position in the market for both Phun and First Fruit is what the company should understand because it is not only the market research that helps the firm. Ansoff Matrix for ‘First Fruit' Igor Ansoff created a matrix that focused more on the firms present and potential products. These are 4 possible ways for a company to grow Existing Products New Products Existing Markets Market Penetration Product Development New Markets Market Development Diversification Ansoff Matrix Market penetration- In this case, WM soft company will seek to achieve growth in existing market and try to maximize its market share. [...]
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