Create a blog post that discusses how you chose to segment the market
Based on the lessons I learned at the #SenecaSoMe program, I have incorporated my learning in this @Segmentation assignment for @SMD 101.
Potential Market: Fruit Juices
Following the S-T-P ( Segmentation-Targeting- Positioning) process for segmentation and dividing them into a narrow customer segment, helps in getting a clear idea of defining the needs and understating the customer requirement.Than just targeting a larger group of a market which doesn’t really help you understand the needs and wants of the customers in the wide market.So instead of choosing just drinks as my market, I chose a narrow and more specific target market Fruit Juices, This set of target market gives me a clear idea of my target group and reveals more information relevant to my audiences to cater them in a beneficial way for both, satisfying their needs and helping us more profit through customer retention.
First of all, I evaluated the target market I wanted to pursue into a more narrow and more specific market ideal to generate more information relevant to my audience.Then I decided the methods by which I segmented my market based on the definition which was best fit for my business model.
The purpose of this market segment is to demonstrate the product benefit that the customer is looking for when buying the product, or the situation at which the product will be more beneficial to earn profit i.e understanding the situational factor.I applied 3technique to segmenting technique to market my product:
Market Segmentation based on:
- Demographics: Characterising target market with respect to age, gender, income, interest
- Psychographic: Characterising the customer by their belief, lifestyle, emotional trait.
- Benefit: Looking for whats beneficial to the customer.
5 Customer Profile :
- Sun Setter: I selected this creative name for my customer profile because it suits her lifestyle of beating the heat at the holidays.In this profile, the customer doesn’t look at the product for any specific benefit, but anything that satisfies their taste or are attracted to the drink.they tend to remain loyal to the brand.
- Nature Lover: In this Segment the customers are highly health focus and have a goal or aim, like staying fit or losing weight or health problem they look for low-calorie drinks for their daily diet,also they are not quite attracted to the added preservative and want something that feels like a natural freshly squeezed juice which gives them the fruity taste.They tend to purchase the product on average and very responsive to discounts or sales not being very loyal to the brand.Nature love would prefer something healthy organic and fresh.
- On the go: In this segment, the user is always busy and active, or daily traveler. which is also a growing segment because of the approach to this lifestyle so on the go depicts a person just grabbing a juice as a meal replacement for the busy active life.
- Variety seeker: They often tend to seek for more options in their life with respect to the events, interest, or event healthy choices they love to try new and different juices in the market and not at all loyal to a particular brand.Depending on their taste or situation they tend to purchase this drink
- Need a boost: In this segment, they often tend to feel rundown, tired or need a boost to kickstart their day and feel fresh with something natural and the picture depicts the person as a Kickstarter to start a long day.
Facebook Ad Mockup: This ad targets the health conscious and nature lover for the fruit juice market. They are environmental people and seek a healthy living as a priority, to staying fit with fresh.I chose this picture because it represents the target market in terms of lifestyle, gender, age, benefit, The picture of the girl represents her choice to healthy living and the posture represents a sign of cleansing and purity.The Caption green is good indicates healthy drinking and fit lifestyle with fresh juices. Completes the idea in few words of having fresh juice with no extra added sugar or preservative to stay fit.
For more information on this check out my slides below: