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Establish & Adjust the markerting mix - Essay Example

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Nature of the product: the product tends to be more of an impulse product that has minimal involvement by the consumers and customers when making the purchase decision. It is frequently purchased depending on the availability of any brand. Consumers tend to switch one brand for another if their desired brand is not available and brand loyalty is very low.
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Establish & Adjust the markerting mix
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Question Selected Product Category= Fruit Juices Nature of the product: the product tends to be more of an impulse product that has minimal involvement by the consumers and customers when making the purchase decision. It is frequently purchased depending on the availability of any brand. Consumers tend to switch one brand for another if their desired brand is not available and brand loyalty is very low.
Below is the table describing the different segments of the Fruit Juice Market
SEGMENTATION OF FRUIT JUICE MARKET
GEOGRAPHIC SEGMENTATION
World Regions
The current market of fruit juices in Australia is being fully tapped by the various juice companies available. Still it holds potential for niches to develop like "Nudie Jucie" for kids is a brand just catering to the taste buds of kids. Likewise "Oz Grenate", is a variant in terms of flavour since it is fresh pomegranate juice. Other regions with high market potential are Middle East since the spending power of the consumers is on the higher side. Pakistan would be a good option since there is presence of very few fresh juice brands.
City/ Metro Size
Cities with population size more than 250,000.
Density
High Urban density since fresh juices are consumed more by the health conscious people who are found mostly in urban areas
Climate
The best market for fresh juices would be regions having Tropical Temperatures and Equatorial conditions. In this regard, Pakistan, India, Srilanka and Middle East would be the best international markets to market fresh juices as the healthiest beverage for summer hydration requirements.
DEMOGRAPHIC
Age
All ages since juices are such a product that is an everyday nutrition requirement for people of all ages.
Gender
Male & Female both
Family Life Cycle
Both young single and young married to keep up their balanced diet requirements in their busy schedule, Married with children (young& old) to provide the necessary vitamins to their children, and old people to meet their diet requirements in old age.
Family Size
More than two family members for 1 litre packs
Less than 2 for small bottles of juice
More than 4 for 2 litre packing of fruit juice concentrates
Income
More than US $ 1000 per month
Occupation
Target market would be Doctors, Teachers since they have the power to influence other people. Other than that, all professionals and business community.
Education
At least High School
Religion
Muslims and Jew communities can be targeted by using HILAL ingredients in the Juices
PSYCHOGRAPHIC
Social Class
For fresh Juices, the working class, the middle class, the upper middle class, lower uppers and upper uppers can be targeted.
Lifestyle
Fresh juices would be mostly consumed by achievers, strugglers and strivers
Personality
Fun loving, health Conscious, Ambitious people
BEHAVIORAL SEGMENTATION
Occupation
All professionals and working people. House Wives. Business Community
Benefits
Health benefits, Provides Vitamin C , keeps refreshed
User Status
In Australia market comprises of majority of regular users of juice. However, in Pakistan and Sri Lank, the market comprises of non-regular and potential users,.
Usage Rate
Frequent as much as two bottles a day, up to half a litre per person
Loyalty Status
Low, substitution rate is high
Readiness Stage
Aware, Informed and desirous to buy. Juices are not a new product consumers are aware and purchase juices habitually and are well informed in their decision due to immense electronic advertising as well as on package information.
Attitude towards Product
The consumers tend to be indifferent between the various juice brands they consume. Also, they tend to substitute juices with other beverages form a different category like the Cola drinks since juices and cola drinks satisfy the same basic need i.e. hydration.
Question 2.
Marketing Manager of Fresh Fruit Juice Manufacturer & Distributor of the Brand "FRUIT VITA"
My foremost concern after being hired as a Marketing Manger of Fresh Fruit Juices of the brand "Fruit Vita" would be as follows:
1. Increase Brand Loyalty
2. Diversify into a juice market a segment niche where we would be the market leaders and can sustain our market share in future
3. Diversify and take existing and new brands to international export markets and be the first ones to penetrate in new geographical regions.
The most attractive Segments in Fresh Juice Segment are:-
Geographical Segments Pakistan, India and Sri Lanka: these are third world countries that have shown considerable growth in the past decade. Now, the purchasing power of consumers has reached a level where they can frequently make juice purchases. Another advantage is that there is presence of very few Fresh Juice Brands in these regions and consumers are concentration on unbranded, unhygienic juice available at juice outlets. The third advantage for this choice is that these regions have Equatorial and Tropical conditions where in summer time the consumption of beverages is very high.
Niche Market Segments (Pomegranate Juice, Guava Juice and Falsa Juice): As mentioned earlier, Fruit Juices are consumer items and customers demonstrate an impulse buying behavior. It is also a market where as many as 10 juice brands are already present in the Australian Market. The only survival in the long term in such a market is by launching new brands with product variants that cater to a niche market. The new flavors introduced should be such that are not being marketed by any of the competitors. I would try to launch Pomegranate Juice as a rival to Oz Grenade, and the new juices would be Guava and Falsa Juice which are different from the Citrus Fruit juice variety being offered by most of the Juice brands.
Aiming at large Family Size Segments: Since the brand Loyalty is very low in this market segment and the usage is very high and is used frequently, my objective would be to increase the volume of sales. I would launch 2.5, 3, 4 & 5 liter Juice Packaging so that large family units can be targeted. This will increase the usage and eventually the brand loyalty. I would also provide discount schemes to attract consumers to this.
Occupation and Lifestyle: My aim would be to market "Fruit vita" in such a way that demonstrates that it is a way of lifestyle for all working people and professionals. For this purpose, there will be heavy print advertising since professionals have frequent newspaper reading habits. Other than this, little juice bottles of 100, 200 & 300 ml will eb available in all office cafeterias.
(457 words)
WORK CITED
Principles of Marketing, International Edition, Ninth Edition, Kotler & Armstrong
www.afja.com.au Read More
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