Segmentation
The procedure that is practiced by marketers to get the control of the varied nature of marketplaces is named market segmentation. Market segmentation is done in order to make easy for conducting marketing activities in effective ways. Dividing market into different segments is market segmentation. Market segmentation can be described as the identification of persons or institutes with similar features that have important effects for the determination of market strategy (Wedel and Kamakura, 2000). There are four bases for segmenting the market which are demographic, geographic, psychographic and behavioral. These four segmentation are explained as below:
Market Segmentation
Segmentation Variable
Kids
Youth
Mature
Demographic
Age
8-14
15-30
30+
Gender
Male/Female
Male/Female
Male/Female
Income
No income
5000-10000
10000-25000
Geographic
Density
Urban/rural
Urban/rural
Urban/rural
Region
Psychographic
Social Class
Middle Class/
Lower Clas
Middle Class/
Lower Clas
Middle Class/
Lower Clas
Middle Class/Lower Class
Middle Class/Lower Class
Middle Class/Lower Class
Attitudes
Positive
Positive
Positive
Interests
Attract to innovation / trends
Attract to innovation / trends
Health conscious
Behavioral
User Status
Regular user
Potential user
Potential user
User Rate
Heavy user
Medium user
Light user
Occasion of Purchase
Regular occasion
Regular occasion
Special occasion
Price Sensitivity
Moderate
moderate
High
Targeting
Target market is the process of formulating market coverage policies; showing which segments
of the market provide best opportunities for Clogard basically it can be the set of customers who
has the basic need to purchase the item from the organization (Armstrong, 2006).
Target market is the process of formulating market coverage policies; showing which segments
of the market provide best opportunities for Clogard basically it can be the set of customers who
has the basic need to purchase the item from the organization (Armstrong, 2006).
Target market is the process of formulating market coverage policies; showing which segments
of the market provide best opportunities for Clogard basically it can be the set of customers who
has the basic need to purchase the item from the organization (Armstrong, 2006).
Target market is the process of formulating market coverage policies; showing which segments
of the market provide best opportunities for Clogard basically it can be the set of customers who
has the basic need to purchase the item from the organization (Armstrong, 2006).
Target market is the process of formulating market coverage policies; showing which segments of the market that provides best opportunities. Basically it can be a set of customers who has the basic need to purchase the item from the organization (Armstrong, 2006).
The most appropriate marketing strategy would be Differentiated segmented marketing. While targeting the market, various things should be kept in mind as selection of target market can lead the product to success or die. Detailed study and research about the market is necessary in order to segment the market. Nestle KitKat is a product that can be loved by everyone but also target market should be chosen when we launch our product. The main target market of KitKat will be the children of age group 8-14 years as the children are very fond of chocolates. The secondary target will be youths of 15-30yrs. Both male and female having higher income can also be targeted. The KitKat can be easily available in urban areas rather than rural areas. Middle class and lower class people having positive attitude towards chocolates are the targeted customers. Middle class people having good income especially of urban areas should be targeted when marketing strategies are planned.
Positioning
Positioning is process of creating desired image for a company and its products in the mind of customer. There are some competitive advantage of Nestle KitKat with raspberry flavor in customers mind relative to competitive chocolates.
Nestle Logo & Family Brand
The name and logo of Nestle is itself a brand so its shows care to customers because of which customer are attracted towards its products.
Communicable
Due to the brand name everyone has idea in mind that Nestle has a big sign of quality to customer so it’s easy to communicate.
mstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Kit Kat-s unique selling points are carried out via the following global brand strategies:
Different Varieties & Limited Editions- Flavour, forms, and shapes
Making it extensively available
Well recognized tagline: Have a Break, Have a Kit Kat-
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass.
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass
References
Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page
Kotler, P. and Armstrong, G. (2012). Principles of marketing. 14th ed. Boston: Pearson
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