Select two variables within each of the four groups and describe how each of the

ID: 424579 • Letter: S

Question

Select two variables within each of the four groups and describe how each of these eight variables you select might be used in targeting marketing efforts for a beverage of your choice.

Segmentation Variables for Consumer Markets Demographic variables . Age . Gender Family size . Race Geographic variables . Region e Urban, suburban, Market density . State size Family life cycle Clmate . Terrain rural EthnicityReligion . Income Social class . Education . City size County size Psychographic variables Volume usage e Motives . End use Lifestyles Benelit expectations Brand loyaity . Price sensitivity

Explanation / Answer

> Demographic variables

Occupation : People of different occupations have different habits for beverages. For examples, professionals might prefer to have them during meetings, breaks,etc. To target professionals , we might have to target auditoriums , meeting venues fequently booked for official meetings.

Income : Income levels give us an idea about what a customer can afford. Based on the price of our beverages we can decide our target income groups and develop marketing strategies to attract them

> Geographic Variables:

Climate: Based on the climate type of beverage to be focussed can be decided. For example, if the climate is very hot, cold beverages would be in demand

Urban, Suburban, Rural: Consumption habits of urban people differ a lot from those of rural. Urban people might have beverages when meeting friends, daily during office breaks, etc. Where as for rural people , it's not a casual activity to have bevearages frequently

> Psychographic Variables:

Personality attributes: Based on personality, consumption habits differ. Customers have to be targetted accordingly

Lifestyles :Life style habits vary from person to person. A person "A" might drink coffee once in a day where as person "B" might drink coffee 4-5 times a day. These two persons have to be targetted differently

> Behavioristic Variables

Volume usage: Based on volume usage we can decide size of the SKU. For example, to segment which love to have more coffee, we can offer 300ml,500ml SKUs. To the segment which drink not much coffee we can offer 100ml,150ml, SKUs

Brand loyalty : This can be used in designing the offers

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Select two variables within each of the four groups and describe how each of the

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