Marketing Behavior segmentation variables

Marketing Behavior segmentation variables

1. Give a brief description of your team’s beverage product.
2. The more detail marketers know about their target market customers, the more successful they are at making positioning and execution (Product Price Place Promotion) decisions. From Chapter 6, p. 165 – 172 and Table 6.1 – and using expanded table 6.1 attachment above, identify and describe Geographic, Demographic, Psychographic, and Behavioral segmentation variables that you think may apply to the target customers of your project’s beverage product. Who is this customer?

Geographic:

Demographic:

Psychographic:

Behavioral:
3, Write a positioning statement for Northeastern University:

To (target market)* _________________________(product) Northeastern University is the brand of (category )
University/College that (point of differentiation/benefit **) ____________________________________________________________________
Because(attributes/features***)______________________________________________________________________________

Consumer buying behavior

Cultural Factor
A cultural factor that I believe will influence the target consumer isthe social class. Social classes shared similar values, interest and behavior. A social classis often revealing of the types and quality of products an individual purchases. Individuals belonging to a lower social class are unlikely to make certain purchases, whereas higher-class individuals are more likely to do so. This is why the social class that can be taken into account, in the beverage industry with our product, is the middle class, which is 32%of the U.S population. This class not only is determined by income but also by wealth, education, and occupation. This class is the one who is more concerned in what is new in the market and in following media recommendations; which will be perfect for us as the marketer. We can take advantage of this concern by having great advertising adds and promotions of our beverage. Also, since our primary focusing in the middle class, we can definitely take advantage of the pricing since our target consumers are likely to spend money. Even thoughwe want our product to be more affordable, we need to consider that organic products tend to be more expensive. In order to be accepted in the market we need to introduce a high quality product with a reasonable price.
Social Factor
A social factor that can influence our target is social role and status; this refers to a person’s position in society. The social role we can focus mostly is on the role of Generation Y (millennials) and college students. Young people are currently opting for energy drinks unlike their Gen X counterparts who rather prefer coffee and tea. For instance, the social roles, activities expected for a person to perform, of a college student is influence byacademic performance, social activities and sporting activities. College students rely on energy drinks to kick and start their day and keep up with their highly active lives. With thismain target consumer, we can definitely take advantage of the place to sell our product and to advertise it. We will definitely focus on selling our product on colleges anduniversities. This will not only just benefit us as marketers but alsoemployees and college students since they will have an easy access for a healthy energy drink.
Personal Factor
The consumer buying behavior changes with the change in the age and the lifestyle. Now a days people are relying more on safety and healthy in the products they are buying. Healthy lifestyle has become more fashionable. People realize that good health is an essential part of a happy life and positive personality. This is why we will offer the market a great choice for a healthy organic energy drink of great taste and high quality. We can achieve a great spot in the market by allowing young adults to know the difference of our product compare to the artificial and harmful energy drinks they often buy. Since our target markets are mostly college student we definitely need to make our product esthetically appeal. Our primary focus here can be packaging. We can definitely design a package that will capture the consumer’s attention and that announces the benefits of our product (organic, 100% natural, with vitamins and antioxidants). The importance will be to give them a reason to buy our healthy energy drink instead of the competitors’drinks.
Psychological Factor
There are several psychological factors that can influence the buying behaviors of consumers. A factor, which I consider can influence our target consumers, is motivation. Motivation is defined as the initiative to satisfy a need. The motivation is either socially learned or is just an instinctive. Both motives are definitely influence consumers. The intuitiveof people when are thirsty will encourage our market to drink our beverage. When talking about learned motivation we can rely on healthy lifestyle choices being made by today’s consumers. The tendency of choosing organic food nowadays can definitely help us. In order to take advantage of this influence we can do commercial adds that demonstrates the benefits of our products and motivates people to make a healthy choice. We can also place adds close to a gym that can focus more on people who are thirsty and that want a healthy energy drink.

 

 

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