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Marketing Background In order for the new Bev Cos beverage to gain a commercial appeal, it is very important for the brand team to understand the basics of segmentation technique. In modern economy, various psychological and demographic factors play much larger role, in shaping up the commercial market, than what they used to, even as recent as 20 years ago. This is because our society is becoming increasingly multicultural, with the basic needs of its members being increasingly satisfied. The process of market segmentation involves operating with geographic, demographic, psycho graphic and behavioral variables. The most important aspect in the analysis of each segment is the degree of its homogeneity, because it is only after having identified such degree, that we are going to be able to come up with the proper marketing strategy. Maslows concept comes very handy, in this respect.
It structures peoples needs, according to the principle of hierarchy. Given the fact that the average American has the choice between approximately 20 different brands of the same product, every time he does grocery shopping, enables us to conclude that the true commercial appeal of any product can be only insured if it is based on peoples values of self-actualization. Yet, peoples understanding of what might be related to their own self-actualization is distorted by their consumerism. This is why, for these people, the values of self-actualization are strongly associated with certain commercial brands. We know that Bev Cos new beverage is meant to be especially appealing to athletic-oriented males.
Yet, this description of markets segment is rather too vague. We need to understand that the only way to insure the efficiency of every marketing strategy is to base products commercial appeal on the idea that can be easily visualized by the potential customer. Our multicultural society promotes the idea of racial and ethnic secularism, which is described as promotion of diversity. Therefore, more and more people are now trying to find self-actualization through the enhancement of their sense of belonging. Still, such belonging must be visualized, in order to appeal to persons subconscious instincts.
Therefore, in my opinion, Bev Co will enjoy far greater sales, if it is to advertise its beverage as such that is being specifically designed for black athletic males or professional and successful men, which will attract white yuppies. The products design can feature images of dragons, which will make it popular among Asians. However, it is important to specify the markets segment, where this drink is to be sold. In our society, the demographic and psycho graphic factors of market segmentation are becoming more vital then before, because of current political trends. This is why it is more likely that in the future, peoples vision of self-actualization will be defined exclusively by the specifics of their ethnic background. In addition, such vision will be totally deprived of any elements of intellectualization.
Therefore, I would recommend for the Bev Co to focus more on emphasizing the irrational appeal of its beverage, which can be easily visualized by the people who represent the targeted segment of the market. White people associate healthy living with the idea of environmentalism, therefore, it would be very appropriate to include a new-age motives in the products design, like Sobe does. Yet, it the targeted segment of the market is Black Americans, than it would be much better to accentuate beverages ability to increase ones raw power, by including images of bulls, lions or powerful gorillas, as part of its design. Nevertheless, it is crucial for the potential customers to be able to visualize products message. This can only be accomplished if marketing team understands that the products commercial appeal has nothing to do with peoples ability to rationalize. The accents must be put on visualization and the best way to accomplish this is to use many bright colors in products design and to invent a catchy advertisement logo.
In other words, Bev Cos managers will have to forget the ideological indoctrination, received at school and face the reality, while products marketing strategy is being deliberated. Bibliography: How to Identify the Most Profitable Targets. 2003. Copernican University. Retrieved January 9, 2006 form web Market Segmentation.
January 7, 2002. Business Bureau-UK. Retrieved January 9, 2006 form web
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Research essay sample on Market Segmentation Marketing Strategy
