Market Background

Market variance is the process of dividing a mart into unambiguous gatherings of buyers who have distinct needs, characteristics or behavior and who might command reveal fruit or grocery store placeing smorgasbordes (Kotler, 2004). Underlying the decision to segment the market is the recognition that a single market is non composed of people with undiversified needs, attitudes amd behavior and therefore requires a divers(prenominal) marketing strategy for each group of people. This process helps marketers in identifying opportunities for a in the altogether carrefour or product mix by identifying specific needs of a group of consumer marketer (Kinsey, 2005)Market part stinker be done in many ways. A company with a customer base over a large geographical ara female genital organ divide its market into various geographic aras. It butt end also segment the market on the basis of demographic factors such(prenominal) as gender, age, family size or family purport cy cle stage, profession, education, ethnical background etcetera Other techniques include psychographic partitioning is other pillowcase of segmentation that is based on social class, lifestyle or personality characteristics and behavioral segmentation that is based on the consumer knowledge attitude, use or retort to a product (Kotler, 2004). Other than the geographic segmentation all the other segmentation techniques requires a lot of consumer research with a demographic research on a lesser extent.Whatever segmentation techniques are used the market segments identified must(prenominal) be measurable in equipment casualty of size, purchasing power etc, accessible by dint of target marketing, substantial, differentiable so that they should be the investment in a separate marketing strategy and actionable that is creating a marketing strategy for it should be often possible for the company (Kotler, 2004).The task at hand is to segment the drunkenness market, ensconce on t he target market and thence design the most effective product mix for that segment. The beverage under attachment has an ingredient that is perceived to have wellness advantages. Thus, the toast female genitals be positioned to be a wholesome addition to a healthy diet. The fact that their competitors have hold in themselves to athletic males has left most of the market dedicate for new product.The company can market the product to a often larger psychographic segment which is of health conscious consumers. On a secondary aim some demographic segmentation can be done where students and young professionals are targeted through relevant marketing strategies that produce the drink as a ascendent of nutrients needed for mental and physical fruit undeniable to cope with a demanding environment. besides a market strategy can be designed such that it encourages product use n the break of the day with breakfast. This type of strategy comes in the occasion segmentation as part of the behavior segmentation. With a powerful promotion program the beverage can become a necessary morning drink for all health conscious people.As the product is beingness promoted as a health drink it should contain appropriate nuitrants and vitamins and fruit extracts whose flesh out should be given on the package. As it is being promoted as a morning drink it should be light and should not have sharp taste or smell. Also along with individual packages it should be available in easy to open packages that contain at least seven servings.Kinsey, J & Yeap, C. (2005). Buyers and Market Segments Food market Economics. Presented at APEC 4451/5451 lecture at University of manganese